In the past few decades, the Micro, Small, and Medium Enterprises (MSME) sector has come up as a lively and active part of our Indian Economy. MSMEs play a vital role in providing enormous employment opportunities at relatively lower opportunity costs than large industries; however, they conjointly facilitate the industrialization of rural & backward areas, thereby maintaining zonal equilibrium, ensuring more equitable classification of national income and wealth.
A Market Development Assistance Scheme is handled by the Ministry of Commerce to uplift and encourage exporters to approach and progress in foreign markets. The Market Development Assistance Scheme provides capital for competing in international fests, educational tours in foreign countries, trade representation and delegations, publicity of trade markets, etc.
Small Industries Development Bank of India (SIDBI) controls the scheme of directly assisting with funding activities associated with MSME products’ marketing. For study tours, international fairs, direct assistance is provided under the Market Development scheme. MSME-MDA scheme was announced to increase the engagement of representatives of participating units.
Development Commissioner of MSME has proposed an existing plan for competing in international exhibitions, where Micro, Small, and Medium Enterprises businesses are motivated to showcase their innovations at fests and fairs in foreign countries. The Office of MSME also arranges for shipment and exhibition space, which is free of cost.
The rapidly changing economic structure of the world has given diverse opportunities and obstacles to the Micro, Small, and Medium Enterprises sector in India. Whereas on the one hand, several opportunities are opened for this sector to reinforce productivity and to explore for new overseas markets at the national and international level. And on the other hand, it has furnished a responsibility to upgrade its capability to compete in the market as other innovations are processed at an amazing speed are made available all over the markets in a short duration of time. Our MSMEs don’t have strategies, plans, tools to compete in the market, to develop their markets, which other competitors do, and this marketing is the weakest point where MSME faces hurdles.
Marketing, a decisive tool for business development, is important for the expansion and survival of micro, small & medium enterprises. Marketing and promotion is the most significant step for the success of any enterprise. Big enterprise companies have enough resources at their command to engage manpower required taking care of marketing and promotions of their product and services. MSME sector doesn’t have these resources at their command and therefore requires institutional support for providing these inputs within the field of marketing.
As announced on August 30, 2000, it was declared that Small Industries Development Org. will work under an MSME Market Development Assistance Scheme, an all-inclusive package for marketing and development of Micro, Small, and Medium Enterprises.
In the implementation and recognition of the MDA scheme, it was mentioned that Micro, Small, and Medium Enterprises has been to uplifted and encouraged in promoting and establishing foreign markets.
Secondly, MSME-DO’s involvement in international exhibitions, if paired with the presence of actual exporter, would pave the wat to the substantial increment in the export business.
The scheme will work under the Ministry of Commerce, with the existing MSME Market Development Assistance Scheme and inclusion of MSME-DO plan for competing in international fests, and all activities will be provided direct assistance under the MDA scheme.
The scheme provides financial assistance for:
Ministry of Micro, Small and Medium enterprises have made an alliance with National Small Industries Corporation, which will provide marketing assistance to MSMEs under Market Development Assistance Scheme (MDA). It is presently the time to produce sustenance and support to the entire MSME sector (including service sector), with special focus on rural and small enterprises, through appropriate steps and plans to strengthen them for changing the challenges into opportunities and touching new heights. Thus, special focus will be made on the promotion and marketing of MSMEs’ products and services in rural and urban areas.
With this, Aatmnirbhar Sena will promote MSMEs business and conduct seminars and workshops for enterprises, organizing training programs in association with corporate houses to generate employment opportunities. Aatmnirbhar Sena will try to provide the best training and supporting platform to promote self-sufficiency and startup culture and lift the Indian Economy and make it vibrant.