Govt. to extend Interest Equalisation Scheme: DGFT

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Amit Yadav, DGFT, Ministry of Commerce and Industry, yesterday assured the industry about an extension of the Interest Equalisation Scheme (IES).

Addressing an interactive session with industry stakeholders via Webinar organized by FICCI, Yadav said, “In the weeks ahead, you would be hearing a good news with regard to the extension of interest equalisation scheme.”

“We are ensuring that exports come back onto the track. The export data for March is an indicator; the impact of the present crisis could be seen from the export data of March and that for April would also be similar.”

Citing these times as never-imagined, Yadav said that the Government has been holding regular interactions with the stakeholders. “I am quite aware of what is happening on the field and the challenges. The feedback mechanism is a part of the continuous process” DGFT stated.

Dr Rafeeque Ahmed, Chairman of FICCI Foreign Trade Committee urged DGFT to act as the main driving force for pushing exports and assisting the exporters in this crisis period.

Rakesh Shah, Co-Chair, FICCI Foreign Trade Committee said, “These are unprecedented times, and the support from the government has to be unprecedented as well, especially for the ailing MSME sector. Deferments will not help at this stage and the government has to provide support for the MSMEs to bail them out of the situation.”

Chairpersons of EEPC India, TEXPROCIL and PLEXCONCIL highlighted various issues and concerns of the business community.

(Source: FICCI)