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To help Indian exports become internationally competitive , the government has decided to increase the interest equalisation rate from 3 per cent to 5 per cent in respect of exports by manufacturers in the MSME sector. This increased subvention is under the Interest Equalisation Scheme on Pre and Post-Shipment Rupee Export Credit.
“The scheme is available to all xports under 416 tariff lines and exports made by MSMEs across all ITC (HS) – Indian Trade Clarification (Harmonised System) codes. It is, therefore, advised that the benefit of the scheme be provided to all eligible MSME exporters,” an RBI notification said
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