JOC Staff | Dec 10, 2012 1:16PM EST
India’s federal government has extended a 2 percent interest subsidy on pre- and post-shipment export credit for labor-intensive sectors, including handicrafts, carpets, handlooms, small and medium enterprises, readymade garments, processed agriculture products, sporting goods and toys, according to India’s Ministry of Finance. The subsidy will apply to those sectors from April 1, 2012, to March 31, 2013.
The government said it has also taken other measures to provide relief for exporters, such as permitting some banks to allow exporters to receive advance payment for the export of goods.