<h1>India Extends 2% Interest Subvention Scheme for Exports; New Incentives for SMEs and Engineering Sector Announced.</h1> The Union Minister for Commerce, Industry, and Textiles announced new measures to boost exports, extending the 2% Interest Subvention Scheme for specific sectors until March 2014. Small and Medium Enterprises across all sectors can now benefit from this scheme. The engineering sector will also receive subvention benefits starting January 2013. A pilot scheme for project exports to SAARC, Africa, and Myanmar was introduced with a $500 million initial allocation. Incentives for incremental exports to the USA, EU, and Asia were also announced, excluding certain export categories. New countries and products were added to various export schemes to enhance market reach and support domestic manufacturing.