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Interest Subvention for Pre and Post Shipment Export Credit under Export Promotion Mission (EPM) – Niryat Prothsahan

Government of India has launched the interest subvention for pre- and post- shipment export credit under the Export Promotion Mission (EPM) – Niryat Prothsahan scheme.

How will the Scheme be operationalised?

The Scheme will be operationalised by the Reserve Bank of India (RBI) through various banks that provide pre and post shipment credit to exporters. It will be jointly monitored by the Director General of Foreign Trade (DGFT) and the RBI through a consultative mechanism. 

Who is eligible to receive interest subvention?

Micro, Small and Medium Enterprise (MSME) manufacturer exporters and merchant exporters holding a valid and active Importer Exporter Code (IEC) and a valid MSME Udyam Registration Number shall be eligible to receive interest subvention support on pre- and post-shipment rupee export credit.

What kind of credit is eligible for interest subvention?

  • Only export credit extended by lending institutions in accordance with the RBI guidelines shall qualify for support. 
  • Interest subvention support shall be available only in respect of export credit availed for exports under a notified positive list of tariff lines defined at the Harmonised System of Nomenclature (HSN) 6-digit level.  
  • The positive list shall be reviewed periodically based on objective parameters such as sectoral MSME concentration, export concentration ratios, labour intensity, and other relevant considerations, and shall not be linked to any export performance or minimum export threshold.

How much interest subvention will be available?

  • The rate of interest subvention @ 2.75% per annum will be available on pre-shipment rupee export credit and post-shipment rupee export credit for MSMEs. 
  • The benefit of interest subvention will be available to only MSME exports under notified tariff lines [at ITC (HS) code of 6 digit]. 
  • An MSME exporter may receive a maximum subvention benefit of ₹50 lakh per financial year.

What are the other features of interest subvention?

  • The support shall apply to the interest cost of eligible export credit.
  • Interest subvention shall not be admissible in respect of deemed exports, as defined under Chapter 7 of the Foreign Trade Policy (FTP) 2023.
  • Interest subvention shall not be admissible where the export credit account turns non-performing prior to completion of the eligible export cycle. 
  • Exporters graduating out of their existing MSME category during the financial year, due to an upward change in investment or turnover, shall continue to remain eligible for interest subvention support for 3 years from the date of such re-classification.


References

Government of India. (2026, January 16). 'Amendments to Guidelines for Interest Subvention Support for Pre- and PostShipment Export Credit under EXPORT PROMOTION MISSION – NIRYAT PROTSAHAN – regarding'. Retrieved from https://rbidocs.rbi.org.in/rdocs/content/pdfs/22TradeNotice19012026.pdf

Government of India. (2026, January 02). 'Launch of Interest Subvention for Pre- and Post- Shipment Export Credit under EXPORT PROMOTION MISSION – NIRYAT PROTHSAHAN – regarding'. Retrieved from https://rbidocs.rbi.org.in/rdocs/content/pdfs/20TradeNotice19012026.pdf

Reserve Bank of India. (2026, January 19). 'Interest Subvention for Pre- and Post- Shipment Export Credit under Export Promotion Mission (EPM) – Niryat Prothsahan'. Retrieved from https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13279&Mode=0


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