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The Interest Equalisation Scheme (IES) has been extended for three months, with a cap set at Rs 50 lakh.

National | Dated: 14 Oct 2024

The Directorate General of Foreign Trade (DGFT) has extended the Interest Equalisation Scheme (IES) for pre- and post-shipment rupee export credit for an additional three months, now lasting until December 31, 2024, to promote India's outbound shipments.

🎯 Key Highlights:

  • - The scheme is fund-limited, with earlier benefits for individual exporters capped at Rs 10 crore per annum per Import Export Code (IEC). This cap has now been raised to Rs 50 lakh.
  • - The DGFT has announced that fiscal benefits for each Micro, Small & Medium Enterprises (MSME) will be capped at Rs 50 lakh in total for the fiscal year 2024-25, valid until December 2024.
  • - MSME manufacturer exporters who have already received an equalisation benefit of Rs 50 lakh or more by September 30, 2024, will not be eligible for any further benefits during the extended period.

💡 Other Important Facts:

  • This scheme was initiated on April 1, 2015, originally valid for five years until March 31, 2020, and has since been extended multiple times with additional fund allocations.

📚 Test Your Knowledge:

What is the maximum limit set Recently under the Interest Equalisation Scheme (IES)?

Correct Answer: 50 lakh

🚀 Quick Recap: