Latest News | Extension of Interest Subsidy Export Credit to Benefit Apparel Exporters: AEPC

New Delhi, July 1 (PTI) The Apparel Export Promotion Council (AEPC) on Thursday said the Reserve Bank of India's decision to extend the interest equalisation scheme for pre and post shipment rupee export credit for another three months till September 30 would help the sector deal with the impact of the pandemic.

AEPC Chairman A Sakthivel said the interest scheme would benefit the MSME (Micro, Small & Medium Enterprises) sector which is still struggling from lack of affordable working capital.

“It is a good move by the government. The interest subvention scheme will help apparel exporters to reduce their cost of capital in these difficult times and thereby make them more competitive in international markets,” the Chairman added.

Federation of Indian Export Organisations (FIEO) too said that the move will help the identified export sectors to be internationally competitive and to achieve a higher level of export performance.

The government's timely extension will not only provide competitive rates for exports, but will also bring it to the near international benchmarks particularly for MSMEs.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)