SME Times is powered by   
Search News
Just in:   • FM's marathon meeting sessions with US businesses continues in NY  • No additional borrowing by Centre to meet GST compensation of states in FY22  • PI Industries refutes Kochi businessman's claim on Rs 1,448.5 Cr shares  • K'taka Minister in UAE makes strong pitch for investment in state  • In the light of the population explosion debate 
Last updated: 27 Sep, 2014  

EPCH.9.Thmb.jpg Govt increases support for exports in overseas market: EPCH

Exports.9.jpg
   Top Stories
» FM's marathon meeting sessions with US businesses continues in NY
» No additional borrowing by Centre to meet GST compensation of states in FY22
» 'Multiple rates, applications make GST more complicated'
» UP's Purvanchal emerging as hub of vegetable export
» 'Special Working Group on startups and innovation needed'
SME Times News Bureau | 28 May, 2013
In order to push exports, the Government has revised the financial ceiling for reimbursement of grant under Market Development Assistance scheme (MDA) for participation in BSMs/ Trade Fairs/ Exhibitions in overseas markets with effect from June 01, 2013, informed Export Promotion Council for Handicrafts (EPCH) on Monday.

As per the revised guidelines the exporting companies with export turnover of upto Rs. 30 crores in the preceding year will now be eligible for MDA grant and in case of LAC region there is no such ceiling, earlier this limit was Rs. 15 crores, the apex body for promotion of handicrafts said in a press statement.

With respect to assistance to individual exporters, the financial ceiling has also been revised for participation in trade fair and exhibition from Rs. 1,80,000/- to Rs. 2,50,000/- for Focus Latin American and Carrabean Countries (LAC); from Rs. 1,50,000/- to Rs. 2,00,000/- for Focus African countries, Focus CIS countries, Focus ASEAN, Australia and New Zealand.  

Handicrafts being employment generative priority sector, two participations in general area would be admissible for Rs. 2 lakh for each participation.  Furthermore, international exhibitions where the number of participants exceeds 75, Export Promotion Councils will be eligible for a higher financial support to the tune of Rs. 40 lakhs.

Rakesh Kumar, Executive Director, EPCH expressed satisfaction and said, "The Council has raised the issue of revision of MDA guidelines at various meetings held with the Minister of Commerce & Industry, Commerce Secretary, Finance Secretary and DGFT."

"Finally, the demand has been met and it is a very significant step towards export promotion efforts and would certainly lead to increase in exports in the future," he added.
 
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 18 Oct, 2021
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(1)
» Kalam releases handbook for small entrepreneurs(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter