Govt extends interest subvention benefit to micro, small exporters of certain iron, steel goods

New Delhi: The Government has extended interest subvention benefits to micro and small enterprises exporting 167 specific iron and steel product categories, to support the trading community, which is reeling under the impact of global uncertainties.

However, the medium sector units are not eligible for this measure.

Follow The PSUWatch Channel on WhatsApp

In January, the Government announced a Rs 7,295-crore export support package, comprising a Rs 5,181-crore interest subvention scheme along with a Rs 2,114-crore collateral support, to improve exporters' access to credit.

Both measures will be rolled out over a period of six years (2025-2031).

The Directorate General of Foreign Trade (DGFT) has said in a trade notice that these 167 product categories "shall be eligible for interest subvention only in respect of export credit availed by micro and small enterprises".

In a separate notification, the government has imposed export curbs on certain grades of Baryte, used in paints, plastics and in the oil and gas drilling sectors, amidst the West Asia crisis, according to a notification.

Follow PSU Watch on LinkedIN

"Export policy of Baryte (Natural Barium Sulphate) is amended on a grade-wise basis by placing Grade A and Grade B under the restricted category and retaining Grade CDW under the free category," the DGFT has said.

Products under the restricted category need a license from the Directorate for exports.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)