Search Result for : Interest Subvention Scheme

The total marketing support extended by DoC under MAI and MDA is insufficient to meet the demand of MSME for export marketing The Dollar Business Bureau Indian exporters have long demanded the correction of inverted duty structure in order to strengthen India’s manufacturing sector     Ahead of the upcoming Union Budget 2016-17 to be announced later this month, Indian exporters have asked the government to introduce fiscal incentives for the micro, small & medium enterprises (MSME) sector, correct inverted duty structure, and exempt service tax and terminal excise duty on purchase of capital goods to encourage exports from the sector. “In view of current downfall in exports, encouragement to MSME sector by way of fiscal incentives on their year-on-year export ...

Deepak Kumar | The Dollar Business Bureau To boost outbound shipments, the government had announced a 3% interest subsidy scheme for exporters of various sectors   Even as the government has announced a 3% interest subsidy scheme for exporters, India’s outbound shipments in November is expected to shrink by 15-20%, an industry expert said. “Exports in November will almost be about 15-20% down. However, the rate of decline in terms of percentage may be less because exports for the month of November 2014 were very bad. When compared the November 2015 exports to that of the November 2014, I don’t think we will see any better figure,” S C Ralhan, President of the Federation of Indian Export Organisations (FIEO), told The ...

Deepak Kumar | The Dollar Business This will provide some relief to exporters who are in distress especially those in SME sector, says T S Bhasin, Chairman, EEPC India   Welcoming the announcement of 3% interest subsidy scheme, export bodies on Thursday said the move will encourage small-scale enterprises and revive the country’s foreign trade which has been on downward track for the past one year.   Taking note of the shrinking exports, now for the eleventh month in a row, the government on Wednesday announced a 3% interest subsidy scheme for a period of five years for exporters – an initiative that is expected to cost the government about Rs. 2500 crore - 2,700 crore. “The decision to give benefit for ...

Source: PTI The scheme would be available to all exports of Micro, Small and Medium Enterprises (MSME) and 416 tariff lines. But it would not be available to merchant exporters   Concerned over continuous decline in exports, the government on Wednesday announced 3% interest subsidy scheme for exporters which will have a financial implication of about Rs.2,700 crore. The decision to help boost overseas shipments was taken at a meeting of Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi. The CCEA has given its approval for "Interest Equalisation Scheme (earlier called Interest Subvention Scheme) on Pre and Post Shipment Rupee Export Credit with effect from April 1, 2015 for five years", an official statement said. The rate ...

The government has added 110 new tariff lines and covered more countries under the MEIS for providing duty benefits to exporters Deepak Kumar | The Dollar Business Export bodies have welcomed the governments move to expand the list of products for giving incentive under the Merchandise Exports from India Scheme (MEIS) and suggested more such measures to revive the countrys foreign trade. Taking note of the continuous fall in Indias exports for the past ten months, the government on Friday introduced 110 new tariff lines under the MEIS, under which exporters get duty benefits on shipment of certain products to specific countries. Additional countries have been covered for selected leather products, iron, steel, and base metals, products. Higher support has been allowed for cashews, ...

Deepak Kumar  | The Dollar Business The government has assured exporters that it was ready to rework the policy framework and take some concrete steps to boost India’s international trade, an experters’ body has said. “In view of the continuous decline in the exports during the past several months, a FIEO delegation had a meeting with the Finance Minister twice in August and September 2015. We advised him of the problems being faced by the exporters. We have learnt that there will be a decision taken on interest subvention scheme,” S C Ralhan, President of the Federation of Indian Export Organisations (FIEO), said at FIEO’s 50th Annual General Meeting held on Monday. “Commerce Minister Nirmala Sitharaman is keen to consider our ...

Himanshu Vatsa | The Dollar Business The delay over the implementation of interest subvention scheme, which seeks rebate in interest rate on bank loans for exporters, is hampering India’s overseas trade severely, say exporters. The previous UPA government had introduced the scheme under which exporters of certain categories used to get up to 3% rebate on interest rates. The scheme which was aimed improving liquidity and competitiveness of exporters in the international market was discontinued in April last year. The present government has also assured that the scheme will be re-launched. Traders engaged in overseas trade have been demanding immediate implementation of the scheme with retrospective effect, i.e, from April 2014. “The decision on re-introduction of the scheme has been hanging in balance since ...

Source: PTI Concerned over a continuous decline in exports, the government today said it will soon announce an interest subsidy scheme for exporters. “The interest subvention scheme is to be announced soon, which will give encouragement to sectors that have high potential,” Commerce and Industry Minister Nirmala Sitharaman said at a function in New Delhi. She said that exports are largely suffering because international demand is not picking up and currencies, particularly euro, are depreciating. “So, the triggers for improving the export performance are not really happening,” she said, adding that the ministry is discussing the matter with industry groups to find ways to push exports and explore new markets. Under the interest subvention scheme, exporters get loans at affordable rates. Loans ...