Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
2013-08-01

Govt raises interest rate on subsidy scheme to encourage exports

Seeking to encourage exports, the government on Wednesday decided to raise the rate of interest on subsidy scheme for exporters to 3 per cent and widen the coverage of the scheme to cover more sectors.

Seeking to encourage exports, the government on Wednesday decided to raise the rate of interest on subsidy scheme for exporters to 3 per cent and widen the coverage of the scheme to cover more sectors.

 

“The rate of interest subvention from tomorrow, which would be available to exporters, would be enhanced to 3 per cent...that is deepening of the benefit”, Anand Sharma Commerce and Industry Minister told reporters.

 

At present the interest subvention for exporters, which is a kind of interest subsidy, is at 2 per cent.

 

As per the scheme, state-run banks provide loans to exporters of select goods, and MSMEs at a discount to the prevailing rate of interest. The government then reimburses the difference to these banks.

 

The Minister further said that all efforts would be made to clear claims of exporters.

 

“The government is making available the required resources to clear all claims of the exporters...and the provisions are being made to ensure that claims of all the exporters are settled forthwith”, the Minister said.

 

Sharma said the government was also considering raising plan allocation for Market Access Initiative (MAI), Market Development Assistance and Central Assistance to States for Developing Export Infrastructure and other Allied Activities (ASIDE) Scheme.

 

The commerce ministry, he said, has called a meeting of Board of Trade (BoT) on August 27 to consider more steps to give a boost to exports which is facing the brunt of global slowdown.

 

India’s merchandise exports have declined 1.4 per cent to $72.46 billion in the quarter ended June 2013 (April-June 2013).

 

Related opportunities
  • Bakery & Confectionary
    WS Bakers is the brand name of WS Foods Pvt...
    Locations looking for expansion Maharashtra
    Establishment year 2014
    Franchising Launch Date 2014
    Investment size Rs. 2lac - 5lac
    Space required 200 - 500 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Pune Maharashtra
  • Matrimonial
    About Us:About Us:Vivah is an exclusive Mobile app that helps..
    Locations looking for expansion New Delhi
    Establishment year 2004
    Franchising Launch Date 2004
    Investment size Rs. 10lac - 20lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater South Delhi New Delhi
  • Planning for a low cost business to start? SQAC franchise..
    Locations looking for expansion Goa
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size Rs. 50 K - 2lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater North Goa Goa
  • Meat & Chicken Shops
    About:Founded in 2016 by a self-professed, ardent meat lover, TenderCuts..
    Locations looking for expansion Tamil Nadu
    Establishment year 2015
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 1000 - 1200 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Chennai Tamil Nadu
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities