India's DGFT limits interest subvention to micro and small iron‑steel exporters; restricts Grade A/B Baryte exports
Micro and small exporters must file DGFT‑eligible export‑credit claims to receive subvention
Change
India's Directorate General of Foreign Trade (DGFT) confined interest‑subvention eligibility to export credit availed by micro and small enterprises for 167 iron and steel product codes and reclassified Grade A and Grade B Baryte as restricted, requiring an export licence while Grade CDW remains free.
Why it matters
Medium enterprises are excluded from the interest‑subvention scheme and cannot claim the benefit under the DGFT notice. The export‑support package also contains a collateral‑support component to be administered alongside interest subvention.
Implications
- — Finance teams at micro and small iron and steel exporters must attach documentary proof of micro/small enterprise status when filing export‑credit subvention claims now — claims lacking proof will be ineligible for the interest‑subvention benefit.
- — Exporters and trade‑compliance teams shipping Grade A or Grade B Baryte must obtain an export licence from the Directorate before shipment — shipments without the licence cannot be exported under the amended policy.
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