Interest relief for MSME exporters

THE SCHEME MAY run for the next five years.Labour-intensive and MSME-dominated sectors like textiles and garments,gems and jewellery, handicrafts, leather, footwear, furniture and toys are among the worst hit by the US tariffs.

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The earlier version of the Interest Equalisation Scheme (IES), referred to as an interest subvention scheme, provided a 3% interest subsidy to all exporters, including MSMEs. The subsidised interest rates on pre-and post-shipment rupee export credit for exporters were initially launched on April 1, 2015, for an initial five-year period. It has been extended multiple times with benefits capped at =50 lakh per exp