Govt to announce interest subvention scheme for exporters
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Government will soon announce interest subvention scheme for exporters. Commerce and Industry Minister Nirmala Sitharaman said at a function in New Delhi today that the scheme will give encouragement to sectors that have high potential. She said exports are largely suffering because international demand is not picking up and currencies, particularly euro, are depreciating.
The Minister said her ministry is discussing the matter with industry groups to find ways to push exports and explore new markets.
The interest subvention scheme of 3 per cent ended on March 31 last year. Under the interest subvention scheme, exporters get loans at affordable rates. India's exports fell 15.82 per cent in June to 22.28 billion dollars for the seventh month in a row, due to global slowdown and decline in crude oil prices that impacted shipments of petroleum products.
The Minister said her ministry is discussing the matter with industry groups to find ways to push exports and explore new markets.
The interest subvention scheme of 3 per cent ended on March 31 last year. Under the interest subvention scheme, exporters get loans at affordable rates. India's exports fell 15.82 per cent in June to 22.28 billion dollars for the seventh month in a row, due to global slowdown and decline in crude oil prices that impacted shipments of petroleum products.
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