India has approved incentives worth approximately ₹600 crore to merchant exporters of some select goods.
The Indian Government recently approved incentives worth approximately ₹600 crore to merchant exporters of some select goods.
The particular move could help boost the liquidity and increase outbound cargos.
The exporters under this subsidy plan will get 3% interest subsidy on pre-shipment as well as post-shipment bank credit.
Who’s Benefiting?
The particular move primarily focuses on improving exports in MSME (Micro, Small and Medium Enterprises)/labour-intensive sectors such as farm produce, textiles, leather and handicraft goods.
The statistics provided by the annual reports of Ministry of Small and Medium Enterprises illustrates a surge in the plan amount spent on the khadi sector from ₹194.27 crore to ₹1454 crore, and non-plan amounts from ₹43.7 crore to ₹229.1 crore, in the period from 1994–95 to 2014–2015.
The interest subsidies to khadi institutions increased from ₹9.63 crore to ₹31.45 crore in this period.
