New Delhi, Oct. 13 -- The government is set to introduce anew interest subvention schemeaimed exclusively atMSME exporters, providing a3% interest rebateon export credit.

This move is designed to help small and medium-sized exporters remain competitive amid rising global trade pressures, including recentU.S. tariffson Indian goods.

According to official sources, the proposal will soon be placed before theUnion Cabinetfor approval and may be implemented for afive-year period.

The scheme will particularly benefitlabour-intensive sectorssuch as textiles, handicrafts, gems and jewellery, leather, footwear, furniture, and toys-areas that represent a large portion of India's MSME export base. The subsidy will lower borrowing costs for export...