SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 27 Sep, 2014  

Rupee Hands THMB Govt revises MDA scheme to push exports

Rupee.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
SME Times News Bureau | 24 May, 2013

The government has revised guidelines of the Market Development Assistance scheme as a result of which bigger exporters will now be eligible for applying for the scheme.

As per the revised guidelines exporting companies with an f.o.b. value of exports of upto Rs. 30 crore in the preceding year will be eligible for MDA assistance. Earlier this limit was 15 crore.

"In a major push to market development in Latin America, Government has removed the upper ceiling of with regard to eligibility for Market Development Assistance (MDA) for participation in Buyer-seller Mission BSMs/fairs/exhibitions abroad to explore new markets in focus countries of Latin America for export of their specific product(s) and commodities from India in the initial phase," the Ministry of Commerce and Industry said in a press statement on Thursday.

It added that the revised guidelines for MDA have also doubled upper eligibility limit for other regions also. 

The revised guidelines have also substantially enhanced in the financial ceiling for participation in Trade Fairs & Exhibitions from Rs.1,80,000/- to Rs.2,50,000/- for focus Latin American countries, from Rs.1,50,000/- to Rs.2,00,000/- for focus African countries, focus CIS countries, focus ASEAN, Australia and New Zealand and from Rs.80,000/- to Rs.1,50,000/. 

"This rise is in response to escalation in cost and appreciation of international currency. Furthermore, international exhibitions where the number of participants exceeds 75, Export Promotions Councils will be eligible for a higher financial support to the tune of Rs. 40 lakh. Revised guidelines should motivate exporters in their market development efforts," the release said. 

"It was felt that penetration in LAC region, key region for Government’s market diversification scheme in the wake of slowdown in the traditional markets, is costly. Therefore, the big exporters with more than f.o.b of Rs.30 crore can aggressively venture LAC region after this relaxation," it added.

Marketing Development Assistance (MDA) Scheme is under operation through the Department of Commerce to assist exporters for export promotion activities abroad.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter