The Commerce Ministry is likely to seek further extension of the interest equalisation scheme on pre- and post-shipment rupee export credit for another five years to promote the country’s outbound shipments, an official has said.

The scheme will end on June 30 this year.

“The Ministry will do revamping of some schemes like interest equalisation scheme. We would propose an extension of the scheme for five years.

“The scheme is doing good and it is helping the exporters,” the official said. On December 8, 2023, the Union Cabinet approved an additional allocation of ₹2,500 crore for the continuation of the scheme up to June 30.

The scheme was started on April 1, 2015 and was initially valid for five years up to March 31, 2020.