Govt to clear INR 1,100 cr. outstanding payments to exporters under IES, MAI

The government is set to release over INR 1,100 crore outstanding payments for the Interest Equalisation Schemes (IES) and Market Access Initiative (MAI), pending for over a year in some cases. The clearance of the pending payments has been approved as part of the Export Promotion Mission (EPM) package. Once the funds are allocated under revised estimates for the Budget Year FY26, the exporters’ dues can be cleared. 

The Commerce Department did not have enough funds to clear exporters’ dues under the IES, which adds up to around INR 800-850 crore. But now that the Cabinet has cleared the EPM, the payments are accounted for. The allocation will be made as part of the revised estimates for the Budget for the ongoing fiscal year. Payments are also pending under the MAI for exporters, totalling about INR 300 crore, as per a report.

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