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Centre caps interest equalization at Rs 1.66 cr

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Centre caps interest equalization at Rs 1.66 cr
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11 July 2024 6:30 AM IST

New Delhi: The Union Commerce Ministry on Wednesday clarified that the interest equalisation will be capped at Rs1.66 crore per IEC (import-export code) for the July 1-August 31 period.

Last month, the government extended the interest equalisation scheme (IES) on pre- and post-shipment rupee export credit for two months to promote the country’s outbound shipments. The scheme, which provides exporters interest benefits, ended on June 30 this year.

In a trade notice, the Directorate General of Foreign Trade (DGFT) said the scheme extended on June 28, the 2-24 is applicable only to MSME manufacturer exporters, who are eligible for IES benefit of 3 per cent.

“The Interest Equalisation will be capped at Rs1.66 crore per IEC for the period from July 1, 2024 to August 31, 2024,” DGFT said.

Union Commerce Ministry interest equalisation scheme IES import-export code DGFT Directorate General of Foreign Trade 
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