Amid global uncertainties affecting Indian exporters, the government has extended interest subvention benefits to micro and small enterprises involved in the export of 167 specific categories of iron and steel products, aiming to support the trading community. However, medium-sized enterprises are not eligible for this measure.

In January, the government unveiled a Rs 7,295 crore export support package, which includes a Rs 5,181 crore interest subvention scheme and Rs 2,114 crore collateral support to enhance exporters' access to credit. These both initiatives will be implemented over a six-year period, from 2025 to 2031.

The Directorate General of Foreign Trade (DGFT) has issued a trade notice specifying that these 167 product categories will qualify for interest subvention exclusively for export credit availed by micro and small enterprises. In a separate move, the government has introduced export restrictions on certain grades of Baryte, a mineral used in paints, plastics, and oil and gas drilling, due to the ongoing crisis in West Asia.

The DGFT clarified that the export policy for Baryte (Natural Barium Sulphate) has been revised on a grade-specific basis. Grade A and Grade B Baryte are now categorized as restricted, while Grade CDW remains in the free category. Products in the restricted category will require an export license from the Directorate.