Government Expands Interest Subvention for Micro and Small Exporters in Iron and Steel Sector
Govt extends interest subvention benefit to micro, small exporters of certain iron, steel goods
The Economic Times
Image: The Economic Times
The Indian government has expanded interest subvention benefits to micro and small enterprises exporting 167 specific iron and steel products, aiming to support exporters amid global uncertainties. This initiative is part of a larger ₹7,295 crore ($880 million USD) export support package announced in January.
- 01Interest subvention benefits now available for 167 iron and steel product categories.
- 02Only micro and small enterprises are eligible; medium enterprises excluded.
- 03The ₹7,295 crore ($880 million USD) support package includes both interest subvention and collateral support.
- 04Measures will be implemented over six years, from 2025 to 2031.
- 05Export restrictions imposed on certain grades of Baryte amid geopolitical tensions.
Advertisement
In-Article Ad
The Indian government has announced an extension of interest subvention benefits to micro and small enterprises exporting 167 specific iron and steel products. This initiative is part of a broader ₹7,295 crore ($880 million USD) export support package, which includes a ₹5,181 crore ($620 million USD) interest subvention scheme and ₹2,114 crore ($255 million USD) in collateral support. The measures are designed to bolster exporters facing challenges due to global uncertainties and will be rolled out over a six-year period from 2025 to 2031. Importantly, only micro and small enterprises are eligible for these benefits, leaving medium enterprises without support. Additionally, the government has imposed export restrictions on certain grades of Baryte, a mineral used in various industries, indicating a tightening of export policies in response to ongoing geopolitical issues.
Advertisement
In-Article Ad
This initiative will provide crucial financial support to micro and small exporters, helping them navigate current global market challenges and potentially increasing their competitiveness.
Advertisement
In-Article Ad
Reader Poll
Do you think the government's export support package will effectively help small exporters?
Connecting to poll...
More about Government of India
8th Pay Commission Extends Memorandum Submission Deadline for Stakeholders to April 30
Mint • Apr 21, 2026
Zen Technologies: A Multibagger Defence Stock Turning ₹1 Lakh into ₹70 Lakh
Mint • Apr 21, 2026
Vice President Radhakrishnan Engages with Indian Housing Project Beneficiaries in Sri Lanka
News 18 • Apr 20, 2026
Read the original article
Visit the source for the complete story.