She said that exports are largely suffering because international demand is not picking up and currencies, particularly euro, are depreciating. "So, the triggers for improving the export performance are not really happening," the Union Minister stated, adding that the Ministry is discussing the matter with industry groups to find ways to push exports and explore new markets.

Under the interest subvention scheme, exporters get loans at affordable rates. Loans at subsidised rates will help exporters boost shipments as the country's exports were in the negative zone during the past seven months.

The interest subvention scheme of 3 percent ended on March 31 last year. For the seventh month in a row, India's exports fell 15.82 percent in June to USD 22.28 billion due to global slowdown and decline in crude oil prices that impacted shipments of petroleum products.

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