Directorate General of Foreign Trade (DGFT) has announced the extension of the Interest Equalization Scheme (IES) for Pre and Post shipment Rupee Export Credit for an additional month, now valid until 30th September 2024. Previously set to expire on 31st August 2024, this extension is specifically applicable to MSME manufacturing exporters, while maintaining the same terms and conditions as the current scheme. The scheme, originally extended as a fund-limited measure, aims to support exporters by offering interest rate subventions on export credits, thereby enhancing their competitiveness in the global market. Stakeholders, including members of Trade and Industry, Export Promotion Councils, and the Reserve Bank of India (RBI), are advised to refer to the guidelines and notifications issued by the RBI for detailed instructions on the scheme’s implementation and compliance. This extension underscores the government’s ongoing efforts to bolster MSMEs in the manufacturing sector by providing critical financial support during pre and post-shipment phases, ensuring they remain viable amidst changing economic conditions. For further details, consult the official communication from DGFT or the latest RBI directives on the Interest Equalization Scheme.
File No 01/94/1801341/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 16/2024-2025-DGFT | Dated: 31thAugust 2024
To,
Members of Trade and Industry
EPCs/FiE0
Reserve. Bank of India
Subject: Extension of Interest Equalization Scheme (IES) for Pre and Post shipment Rupee Export Credit for One month beyond 31 August, 2024.
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 31.08.2024 as a fund limited scheme, has been further extended for one month i.e., up to 30.09.2024,
2. However, this extension is applicable only for MSME Manufacturing exporters. Apart from that, such extension is made with the same terms and conditions as the present scheme.
3. Guidelines issued by Reserve Bank of India and relevant RBI notifications issued from time to time on this subject may be referred.
(K M. H Mal)
Jt. Director General of Foreign Trade
DGFT (HQ).
