Exporters' body urges Piyush Goyal to restore IES benefits for all

The Federation of Indian Export Organisations (FIEO) has urged Union Commerce and Industry Minister Piyush Goyal to extend the Interest Equalisation Scheme (IES) beyond June, as the current extension only covers MSMEs. \r

FIEO president Ashwani Kumar argued that the scheme, which provides a two percent interest rate for various export items, has supported MSMEs, merchant exporters, and large manufacturers. Kumar warned that the exclusion of these categories from the extended scheme will hurt labor-intensive exports amid rising costs and competitive challenges. \r

He called for restoring the broader scheme benefits to support exporters.