Government of India

Ministry of Commerce and Industry

Department of Commerce

Directorate General of Foreign Trade

To,

1. All IEC Holders/Members of Trade and Industry.

2. All concerned Bank Branches.

3. All Export Promotion Councils/Commodity Boards/ Other Industry Associations.

Subject: Amendments under Interest Equalisation Scheme - reg.

Attention of Trade and Industry is drawn towards the extension of Interest Equalisation Scheme (IES) up to 30.09.2024, as notified by DGFT vide Trade Notice no. 16/2024-25 dated 31.08.2024.

2. The below mentioned amendment is made with immediate effect for rationalisation of the scheme.

a. The annual net subvention amount is capped at Rs 10 Cr per IEC for a given financial year, accordingly a cap of Rs. 5 Cr per IEC for MSME Manufacturers is imposed till 30.09.2024 for the financial year starting from 01.04.2024.

b. It is further clarified that for Manufacturer Exporters and Merchant Exporters the cap is Rs. 2.5 Cr till 30.06.2024.

3. This issues with the approval of Competent Authority.

(Raman Kumar)

Dty. Director General of Foreign Trade

DGFT Hq

(Issued from File No.: 01/94/180/135/AM24/PC-4)