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Date: 29/10/2024

Revamped Interest Subvention Scheme for exporters in the offing

The Commerce Department is exploring ways to revamp the Interest Subvention Scheme (ISS) for exporters to ensure the scheme meets the objectives outlined during its launch nine years ago. The Finance Ministry may consider extending the popular interest equalisation scheme on pre- and post-shipment rupee export credit beyond the year-end if the Commerce Department suitably revamps it. As per reports, it has to be more convincingly established that the scheme is serving the objective of promoting exports of labour-intensive items and actually benefitting MSMEs. 
 
The Directorate General of Foreign Trade is looking at ways to tweak and revamp the ISS to make it more acceptable to the Finance Ministry in terms of its usefulness, the reports said.
 
Source: Exim News Service: New Delhi, Oct. 28



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