Govt rolls out Rs 4,531 crore market access support for exporters

NEW DELHI: The Directorate General of Foreign Trade (DGFT) on Wednesday unveiled the first component of the six-year Export Promotion Mission – the Rs 4,531-crore market access support (MAS) for exporters to diversify into new product categories and new markets such as Latin America and Africa, with a special emphasis on MSMEs. This is the first pillar of the Rs 25,060-crore Export Promotion Mission, which is aimed at enhancing competitiveness of Indian exporters with the other 10 components to be notified by Jan-end. For the current year, market access support will be to the tune of 500 crore. Govt is also working on mapping exporters availing of benefits to help target the scheme better, DGFT Ajay Badhoo told reporters. Under the MAS, structured financial and institutional support will be provided for activities including Buyer-Seller Meets, and participation in international trade fairs and exhibitions organised in India. The scheme will focus on boosting Indian goods and services exports with agriculture and allied industries, handicraft, handlooms, leather, sports goods, telecom, defence, tourism, medical, logistics, legal, audiovisual, communications, construction and environment-related services identified as priority areas. A new component for proofs-of-concept and product demonstrations to potential overseas buyers, particularly in technology-intensive, emerging and sunrise sectors, will be notified shortly to complement existing market access interventions, DGFT said.