The Government of India has increased the eligibility bar for the Market Development Assistance scheme (MDA) to promote the handicraft industry and SMEs in the textile industry to participate in Buyer-Seller Mission (BSM), trade fairs and exhibitions, and increase exports to markets in Latin American and Caribbean (LAC) and other international regions.
According to the revised guidelines, the MDA scheme, which was earlier applicable to textile SMEs and handicraft industries with a turnover of Rs. 150 million, will now be available to industries with exports up to Rs. 300 million and are interested to venture in LAC regions.
The revised guidelines have also substantially enhanced in the financial ceiling for participation in trade fairs and exhibitions from Rs. 180,000 to Rs. 250,000 for focus Latin American countries, from Rs. 150,000 to Rs. 200,000 for focus African countries, focus CIS countries, focus ASEAN, Australia and New Zealand, the Ministry of Commerce and Industry said in a statement.
As per the revised scheme, the Export Promotion Councils (EPCs) of India will also receive a financial support of Rs. 4 million for an international exhibition with more than 75 participants.
The MDA scheme has undergone the changes to boost India’s textile and handicraft export trades and the operation of the scheme will be handled by the Department of Commerce in India.
Some apparel export associations have welcomed the revision of the MDA scheme.
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