FIEO urges Centre to extend interest subvention scheme for 5 years

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FIEO urges Centre to extend interest subvention scheme for 5 years - Business Standard

Quick Summary:

Apex exporters body FIEO on Tuesday urged the government to extend the interest subvention scheme for five years to help increase credit flow in the sector in order to boost the country's shipments, which registered a steepest decline in 13-month falling 9.3 per cent in August to USD 34.71 billion.

Earlier this month, the government extended the interest equalisation/subvention scheme, which provides interest benefits, on pre- and post-shipment rupee export credit for one more month till September 30.

If there is no interest equalization scheme, then we will lose some markets and some orders," Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai told reporters here.