The Apparel Export Promotion Council (AEPC) said on Thursday that the Reserve Bank of India’s decision to extend the interest equalisation scheme for pre and post shipment rupee export credit for another three months, until September 30, would assist the industry in dealing with the impact of the pandemic.
The interest programme, according to AEPC Chairman A Sakthivel, would assist the MSME (Micro, Small, and Medium Enterprises) sector, which is currently suffering from a lack of cheap operating capital. The interest subsidy plan will assist clothing exporters in lowering their cost of capital during these challenging times, making them more competitive in international markets.