New Delhi, March 26 -- In a recent statement to the Lok Sabha, Minister of State for Commerce and Industry Jitin Prasada highlighted the critical role of the interest equalisation scheme in supporting Indian exporters, particularly micro, small, and medium enterprises (MSMEs).

Approximately 11,000 exporters are currently benefiting from this policy instrument, which aims to address the competitive challenges faced by Indian businesses in the global market.

The current lending landscape in India presents significant challenges for exporters, with the repo rate standing at around 6.25 percent and exporters typically incurring interest rates between 8 to 12 percent.

This stands in stark contrast to competing countries, where central bank ...