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Interest Subvention Scheme to Boost Exports

News and Press Release - Dated:- 3-8-2016 - The Government has introduced the Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit w.e.f. 01.04.2015 for 5 years. The scheme has been notified vide RBI circular No. 62 dated 04.12.2015. The scheme is available to all exports by manufacturers under 416 specified tariff lines [at ITC (HS) Codes at 4 digit level] and exports made by manufacturing Micro, Small and Medium Enterprises across all ITC (HS) Codes. The rate of interest e .....

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o manufacturers for all exports under 416 specified tariff lines [at ITC (HS) Codes at 4 digit level] and to exports made by manufacturers in Micro, Small and Medium Enterprises across all ITC (HS) Codes. The rate of interest equalisation is 3% per annum. (iii) Duty Exemption/Remission Schemes viz Advance Authorisation (AA), Duty Free Import Authorisation (DFIA) and Duty Drawback (DBK) Scheme enable duty free import of inputs for export production, including replenishment of input or duty remiss .....

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