Trending News
Baltic Exchange Market Report (10 May 2024)...
  Daily Exim

NEWS DETAILS

Date: 07/05/2024

Interest Equalisation Scheme provides competitiveness to Indian exports, says FIEO

The government should extend the interest equalisation scheme (IES), that is set to expire on June 30, to offer a lifeline to small exporters grappling with high-interest rates and faltering exports, said the apex body for exporters, Federation of Indian Export Organisations (FIEO). The scheme provides competitiveness to Indian exports, particularly to MSMEs, as the interest costs in India are much higher than in other countries. The bank rate in India is 6.5 per cent, whereas the bank rate in many of the Asian economies is around 3.5 per cent. With a higher spread, the credit cost in India is generally over 5 to 6 per cent as compared to such countries, FIEO President Mr Ashwani Kumar said, adding that the scheme is more relevant now since exporters are looking for larger credit due to a huge increase in sea and air freight, as per a report.
 
Source: Exim News Service: New Delhi, May 6



Featured News

EXIM INDIA ONLINE SERVICES

APPOINTMENTS

View All

USEFULL LINKS

View All

Introduction

EXIM INDIA is a reputed and all-India recognised premier publishing house. It publishes a daily newspaper.

It publishes a daily newspaper "Exim Newsletter" from Mumbai, Gujarat and New Delhi / NCR / North India, and Exim India - 'Shipping Times' from Kolkata, Chennai, Cochin and Tuticorin for the last 46 years.

Read More

QUICK LINKS

Contact Details

Inquiry

© | Exim India. All rights Reserved.