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.