(a) whether the Government proposes to make available adequate funds for exporters to address the declining credit to exporters in the country;
(b) if so, the details thereof;
(c) whether the Government is organising an event to explore logistic partnership with the world-wide giant group participating therein as the logistics sector is playing vital role in enhancing the competitiveness of Indian goods in global market; and
(d) if so, the details thereof?
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY
(SHRI C. R. CHAUDHARY)
(a) and (b) Yes, Madam. The Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit has been introduced from 1.4.2015 for a period of 5 years to help exporters in accessing credit at reduced rates. Under the scheme, interest equalization @3% per annum has been made available to all exports under identified 416 tariff lines [at ITC(HS) code of 4 digit], and to exports made by Micro, Small and Medium Enterprises (MSMEs) across all ITC(HS) codes. To further support credit-off take by MSME exporters, the interest equalization under Interest Equalization Scheme has been raised from 3% to 5% w.e.f. 02.11.2018 for exports made by MSMEs across all ITC(HS) codes.
On 2nd January 2019, Cabinet Committee on Economic Affairs has further approved proposal for including merchant exporters under the Interest Equalization Scheme (IES) for Pre and Post Shipment Rupee Export Credit by allowing them interest equalization rate of 3% on such credit for export of products covered under 416 tariff lines identified under the scheme.
(c) No Madam.
(d) In view of the reply to (c) above, does not arise.
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