MDA Scheme is an essential tool to trigger MSMEs’ growth by effectively assisting them in their marketing task. MSME in India has outgrown to be the most vibrant and dynamic sector of Indian structure. It has contributed immensely to India’s economy and has proved to be a savior in balancing the void created by India’s difficult situations.
MSMEs, apart from providing extensive employment opportunities at comparatively lower capital cost than large industries, also aids in the industrialization of rural as well as socially and economically backward areas. The significant contribution from MSMEs, in turn, helps in reducing the regional imbalances, assuring a more equitable distribution of national income and wealth.
MSME is more or less complementary to large industries as ancillary units and contributes magnificently to the country’s socio-economic development. However, a few efficient tools and mechanisms to boost these sectors for better growth and expansion globally need to pop in with the passing time. MDA Scheme shall fill the void created due to a lack of an effective mechanism in the current scenario.
The hour’s need is to provide sustenance and support to the whole MSME sector (including the service sector) through Market Development Assistance Scheme, emphasizing rural and micro-enterprises, through suitable measures to strengthen them to convert the challenges into opportunities scaling new peaks of achievements. Though the medium enterprises are the scheme’s target beneficiaries, significant attention is given to micro and small enterprises for marketing and services in rural and urban areas.
Market Development Assistant scheme operated under the supervision of the Ministry Of Commerce. MDA Scheme aims to encourage MSME exporters to access and develop overseas markets. The plan offers to fund the participation of MSMEs in the international fairs, study tours abroad, trade delegations, publicity, etc.
Marketing is an efficient and strategic tool for business development and is essential for the growth and survival of micro, small & medium enterprises in the long run. Marketing is the primary factor for the success of any enterprise, big or small. Usually, big enterprises have enough resources to hire a workforce to take care of the marketing sector to sell products and services. MSME is the small-sector unit sector, does not have enough resources at its command, and needs some institutional support for providing these inputs in the marketing. Ministry of Micro, Small & Medium Enterprises, through National Small Industries Corporation (NSIC), a Public Sector Enterprise, has been adamant in providing marketing-related aid and assistance to Micro & Small Enterprises (MSEs) through the scheme of Market Development Assistance Scheme.
It was not enough to address the issues of the Micro & Small Enterprises (MSE) erstwhile known as Small Scale Industries (SSI) alone. It was necessary to include the entire range of enterprises, including small-scale industries and related service entities, in a seamless web. The need of the hour is to provide space for small enterprises to emerge into medium scale enterprises. That is the best way to acquaint them with better and upgraded technology levels and remain competitive in this fast globalizing world. The Market Development Scheme addresses the issues relating to credit, marketing, technology up-gradation, etc. concerning the micro, small and medium enterprises.
Individual MSMEs and industry associations are eligible to avail of the facilities under the MDA Scheme. Other conditions include:
Under the Market Development Assistance Scheme, subsidies initiated are an ultimate perk from the Government’s side.
Market Development Assistance Scheme is a promising scheme and has successfully enhanced the MSMEs’ business power by availing all possible means to expand their business. Plans like this shall prove to be a milestone for various other upcoming regulations and schemes. It gives hope to millions of budding entrepreneurs.
It boosts their morale to keep rising high as they know that they are backed up by several other techniques like this that shall continue to bring glory to their sector and ultimately to the Nation. Aatmnirbhar Sena is here to familiarize you with this scheme and help you further utilize the Market Development Assistance for your business.