In a significant move to boost India's overseas trade, the Directorate General of Foreign Trade (DGFT) announced a major financial support initiative for exporters on Wednesday. The agency unveiled the Market Access Support (MAS) scheme, valued at Rs 4,531 crore, marking the first operational component of the ambitious six-year Export Promotion Mission.
First Pillar of a Larger Mission
This market access initiative is the foundational pillar of the comprehensive Rs 25,060-crore Export Promotion Mission. The mission's primary goal is to enhance the global competitiveness of Indian exporters. DGFT Director General Ajay Badhoo informed reporters that the remaining ten components of this overarching mission are scheduled to be officially notified by the end of January.
For the current financial year, the government has allocated Rs 500 crore under the MAS scheme. Authorities are also developing a system to map exporters who avail of these benefits. This mapping exercise aims to fine-tune the scheme's targeting and ensure its effectiveness reaches the intended beneficiaries.
Focus on Diversification and MSMEs
The newly launched scheme is strategically designed to help Indian businesses break into new product categories and unexplored markets. A special emphasis has been placed on regions like Latin America and Africa. Micro, Small, and Medium Enterprises (MSMEs) are set to be key beneficiaries of this push.
The MAS will provide structured financial and institutional backing for a range of export-promotion activities. These include:
- Organising and participating in Buyer-Seller Meets.
- Support for taking part in international trade fairs and exhibitions held within India.
Priority Sectors and Future Plans
The scheme will concentrate on boosting exports of both goods and services from identified priority sectors. The list of focus areas is extensive and includes:
Agriculture and allied industries, handicrafts, handlooms, leather, sports goods, telecom, defence, tourism, medical services, logistics, legal services, audiovisual, communications, construction, and environment-related services.
In a forward-looking step, DGFT also revealed plans to notify a new component shortly. This addition will fund proofs-of-concept and product demonstrations for potential overseas buyers. It is specifically aimed at technology-intensive, emerging, and sunrise sectors, complementing the existing market access interventions.
This substantial financial outlay signals the government's strong intent to diversify India's export basket and reduce dependency on traditional markets. By empowering exporters, especially MSMEs, with direct support for market penetration activities, the initiative aims to create a more resilient and dynamic export ecosystem for the country.
