The Commerce Ministry is pushing to restore the Interest Equalisation scheme, which is available for small businesses, till August 31, for all exporters soon, and ensure that duty remission benefits granted to exporters, under a 2021 scheme called RoDTEP, are extended beyond September, top officials said.

The Interest Equalisation Scheme (IES) that offered a rebate on pre- and post-shipment credit availed by exporters, had lapsed in June, and was restricted to micro, small and medium enterprises (MSMES) for two months since then.

“There are schemes which are in different stages, some are coming to an end like the Interest Equalisation Scheme so renewal has to take place,” Commerce Secretary Sunil Barthwal said in response to a query from The Hindu.

“So those discussions are on with the Expenditure Department,” Mr. Barthwal added.

“As far as Interest Equalisation scheme is concerned, there is a proposal to extend it to all exporters which is under consideration, and we are hopeful it should come through in the next one month or so,” another official said.

“The RoDTeP (Remission of Duties and Taxes on Export Products) has been extended till September 30, and we have been doing a review,” the official said, adding that a review was scheduled under the stewardship of the Finance Secretary on Tuesday, but will now have to wait till the government announces a new Finance Secretary after incumbent TV Somanathan was named the next Cabinet Secretary.