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

Exporters have raised concerns over the short two-month extension of the Interest Equalisation Scheme (IES), exclusively for MSMEs, impacting labor-intensive exports. FIEO president Ashwani Kumar emphasised the scheme's broad benefits for various exporters and urged the Commerce Minister to restore the full scheme to support struggling sectors facing challenges like increased freight rates and rising interest rates. Despite FIEO's request for broader benefits, the DGFT limited the scheme to MSMEs with a capped outlay of Rs 750 crore.