Ministry of Commerce and Industry, Directorate General of Foreign Trade, has announced the extension of the Interest Equalization Scheme for Pre and Post Shipment Rupee Export Credit for MSME exporters for an additional two months, now valid until August 31, 2024. This extension retains the same terms and conditions as the existing scheme and caps the total outlay at Rs. 750 Cr. Claims from non-MSME exporters will not be considered beyond June 30, 2024. Relevant guidelines and notifications from the Reserve Bank of India should be consulted for further details.
File No. 01/94/180/341/AM20/PC-4
Government of India
Ministry of Commerce and Industry
Department of Commerce
Directorate General of Foreign Trade
Vanijya Bhawan, New Delhi 110001
Trade Notice No. 07/2024-2025- DGFT | Dated: 28th June 2024
To,
Members of Trade and Industry
EPCs/FIEO
Reserve Bank of India
Subject: Extension of Interest Equalisation Scheme (IES) for Pre and Post shipment Rupee Export Credit for two months beyond 30th June, 2024.
1. Trade and Industry is hereby informed that the Interest Equalization Scheme for Pre and Post Shipment Rupee Export Credit, which had earlier been extended up to 30.06.2024 as a fund limited scheme, has been further extended for two months i.e., up to 31.08.2024.
2. However, this extension is applicable only for MSME exporters, and for such extended period, the total outlay of the scheme is capped at Rs. 750 Cr. Apart from that, such extension is made with the same terms and conditions as the present scheme.
3. Claims of non-MSME exporters are not to be entertained beyond 30th June, 2024.
4. Guidelines issued by Reserve Bank of India and relevant RBI notifications issued from time to time on this subject may be referred.
(K. M. Harilal)
Jt. Director General of Foreign Trade
DGFT (HQ)
(Issued from File No. 01/94/180/341/AM20/PC-4)
