‘Continuity of IES to provide stability & give further impetus to exporters’

New Delhi: The Government has approved the extension of the Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit till June 30, 2024 with an additional allocation of Rs 2500 crore.

Sanjay Budhia, Chairman CII, National Committee on Exports & Imports, said the continuity of the IES scheme will provide stability and give further impetus to exporters and will help maintain the current positive momentum to stay competitive and get higher market share in the international market.

“We express our gratitude and appreciation for this timely support and undertaking pro-active and forward looking reforms and measures to help industry effectively deal with the global trade challenges and work towards becoming a part of the Global Value Chains (GVCs) in the post pandemic world,” he said. This would help in achieving the $1 trillion merchandise exports target by 2030 and would also supplement the objective of the Government to encourage new and small district level producers to export, he added.