Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • Nepal protests
  • Nepal Protests Live
  • Vice-presidential elections
  • iPhone 17
  • IND vs PAK cricket
  • Israel-Hamas war
fp-logo
Govt to provide Rs 600 cr subsidy sops to merchant exporters; move likely to boost outbound shipments
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • Business
  • Govt to provide Rs 600 cr subsidy sops to merchant exporters; move likely to boost outbound shipments

Govt to provide Rs 600 cr subsidy sops to merchant exporters; move likely to boost outbound shipments

Press Trust of India • January 2, 2019, 18:09:06 IST
Whatsapp Facebook Twitter

The proposal will entail benefits of around Rs 600 crore to exporters on interest equalisation for the remaining period of the scheme, an official release said.

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
Govt to provide Rs 600 cr subsidy sops to merchant exporters; move likely to boost outbound shipments

New Delhi: The government on Wednesday decided to provide 3 percent interest subsidy to merchant exporters to enhance flow of funds for them with a view to boosting outbound shipments. The decision was taken by the Cabinet Committee on Economic Affairs. “The proposal will entail benefits of around Rs 600 crore to exporters on interest equalisation for the remaining period of the scheme,” an official release said. [caption id=“attachment_4495585” align=“alignleft” width=“380”]Representational image. Reuters. Representational image. Reuters.[/caption] Approval has been given to the proposal of the department of commerce for “including merchant exporters under the interest equalisation scheme for pre and post shipment rupee export credit by allowing them interest equalisation rate of 3 percent on such credit for export of products covered under 416 tariff lines (products) identified under the scheme,” the release said. These products are largely in MSME/labour-intensive sectors such as agriculture, textiles, leather, handicraft and machinery. It added that inclusion of merchant exporters in the scheme is expected to make the exporters more competitive, encourage them to export more products manufactured by MSMEs. “Additional exports by them will increase production by MSME giving a fillip to employment generation as MSME are generally in the employment-intensive sectors,” it added. Commerce Minister Suresh Prabhu has time and again raised the issue of declining export credit. He had suggested that loans to exporters should be considered as priority sector lending by the banks. There was a sharp decline in export credit is impacting exporters in general and MSME units in particular. Citing RBI data, the commerce minister had stated that outstanding export credit has come down to Rs 22,300 crore on 22 June, 2018, from Rs 39,000 crore as on 23 June, 2017. Commenting on the decision, Federation of Indian Export Organisations (FIEO) president Ganesh Kumar Gupta said that the move would help in promoting exports. “Loans at affordable rates would help exporters to promote exports,” he said. During April-November 2018-19, the country’s merchandise exports grew by 11.58 percent to $217.5 billion. Since 2011-12, India’s exports have been hovering at around $300 billion. During 2017-18, the shipments grew by about 10 percent to $303 billion. Promoting exports helps a country to create jobs, boost manufacturing and earn more foreign exchange.

Tags
Export RBI NewsTracker MSME Interest subsidy FIEO labour intensive sectors Merchandise exports tariff lines merchant exporters outbound shipments
End of Article
Latest News
Find us on YouTube
Subscribe
End of Article

Impact Shorts

Tata Harrier EV vs Mahindra XEV 9e: Design and road presence compared

Tata Harrier EV vs Mahindra XEV 9e: Design and road presence compared

The Tata Harrier EV and Mahindra XEV 9e are new electric SUVs in India. The Harrier EV has a modern, familiar design, while the XEV 9e features a bold, striking look. They cater to different preferences: the Harrier EV for subtle elegance and the XEV 9e for expressive ruggedness.

More Impact Shorts

Top Stories

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Who is CP Radhakrishnan, India's next vice-president?

Who is CP Radhakrishnan, India's next vice-president?

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Who is CP Radhakrishnan, India's next vice-president?

Who is CP Radhakrishnan, India's next vice-president?

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV