MSME Market Development Assistance is operated under the Ministry of Commerce to encourage MSME exporter and overseas access market. Micro, Small and Medium enterprises have played an essential role in the economy of India. MSME is a highly vibrant and dynamic sector of the Indian economy. It has contributed immensely in employing masses and at low capital cost. It is the backbone of the Indian economy and is complementary to the large industries and aims to enhance the country’s socio-economic development. However, changing global economic patterns has thrown immense challenges on the way of MSMEs.
On the one hand, where new avenue is open for MSMEs in enhancing productivity, it raises the obligation to upgrade their level to meet the competition at a global level. MSMEs are missing out on a few essential tools to carry out their business efficiently. We shall discuss the MSME Market Development scheme that can prove to be beneficial for improving the business.
About MSME Market Development Assistance
MSME Market Development Assistance is one of the essential tools for business development. The scheme has helped a lot in triggering the growth and survival of MSMEs. Marketing is anytime the most critical factor for any business enterprise. MSMEs have a scarcity of such workforce that can openly handle their respective enterprises’ marketing, whereas, MSME does not have these resources at their command. As a result, they need the aid and support of specific institutions for enhancing marketing strategy.
The need of the hour at the current scenario is to provide assistance and support to the MSME sector (including service sector), with particular emphasis laid upon rural and micro-enterprises, through appropriate measures to strengthen them for turning the challenges into opportunities and aiming for new heights. The medium enterprises are included as the target beneficiaries under the scheme, yet, special attention needs to be given to the market research of micro and small enterprises worldwide.
Objectives of MSME Market Development assistance
MSME Market Development Assistance aims at the following:
- To encourage exports from the MSMEs.
- To increase the participation of MSMEs at the global level.
- To provide financial assistance for adopting global standards in barcoding.
- To encourage participation in International affairs and exhibitions.
Who can apply?
Individual MSMEs or individual associations are eligible for MSME Market Development Assistance Scheme.
Eligibility criteria
- The business enterprise’s manufacturing unit should have a valid registration with the Directorate of Industries or District Industries Centre to avail of the scheme’s benefits.
- The selection of small-micro manufacturing units would be finalized by the MSME-DIs as per the product profile, scenario of the fair, and space availability.
- The benefits announced under the scheme can be availed only once each year per MSME, and only a single person per MSME would be eligible for the subsidy of airfares.
- The participating small units under MSME India stall at International Trade Fairs OR Exhibitions have to pay 50% of the space rental charges of booked space themselves at least one month in advance of the event’s commencement. In the case of Women, SC&ST entrepreneurs & entrepreneurs of the North Eastern Region need not pay space rental charges.
- The participating manufacturing units’ representatives are required to carry and manage the sample for display under MSME India stall at the International Trade Fairs or Exhibitions.
Financial Benefits to the entrepreneurs
Following financial gains shall be availed by the entrepreneurs of MSMEs:
- MSME Marketing Development scheme offers the reimbursement up to 75% regarding and fro airfare for its entrepreneurs’ participation in overseas fairs/trade delegations. However, 100% shall be reimbursed to the entrepreneurs from North-East and women entrepreneurs.
- Reimbursement of around 75% of the one-time registration fee and 75% of annual fees (recurring) for MSME units for the first three years for bar code.
- 50% of total costs involved or Rs. 1 lakh whichever is lower for initiating antidumping cases to promote fair and healthy trade.
How to Apply?
Applications/proposals seeking help or assistance under the MSME Marketing Development Assistance should be submitted to the Branch Manager of the nearest office of the NSIC equipped with all the details and justification in support of the application.
As an Aatmnirbhar Sena, we are putting our best in availing the best assistance to the budding entrepreneurs who are willing to grow their business under the current scheme. We are adamant in providing round the clock assistance to MSMEs who want to benefit from the plan and make it a successful venture. We shall assist the enterprises with all the necessary steps required to make their business grow. We have been conducting multiple workshops, conferences, professional development classes, etc. for those young entrepreneurs to make them aware of every detail of the current scheme.
