Subsidy on International Fair, trade fairs under Market Development Assistance Scheme for MSME units
Welcome in KIP’s Blog, today we are going to share with you a New Subsidy Policy i.e., “Subsidy on International Fair, trade fairs under Market Development Assistance Scheme for MSME units”.
This scheme aims to build MSMEs for entering export market by facilitating their participation in international exhibitions/fairs/conferences/seminar/buyer-seller meets abroad as well as providing them various costs benefits involved in export of goods and services. The Scheme provides opportunities to MSMEs to continuously update themselves to meet the challenges emerging out of changes in technology, changes in demand, emergence of new markets, etc. Thus, the scheme aim at various aspects required to advance MSMEs units to come up as export player.
Eligibility under Subsidy on International Fair :-
Under the scheme the eligible organisation are
· Ministry of MSME
· Government Organisations
· Registered Industry/ Enterprise Association
The applicant organisation after fulfilling the condition of the scheme would qualify as registered association under this scheme and provide the various opportunity to the MSME units to get grant for the international fairs, trade fair etc from the Government. The registered organisation should have minimum 10 MSME units under delegation to apply under this scheme.
|Financial Assistance/Subsidy/Benefits Available under Subsidy on International Fair :
The Quantum of Assistance as under would be provided to the MSME units as per the given below terms: Space rent (Stall charges): 100% of space rent subject to Rs 3 Lakh or actual rent whichever is lower. Air Fare: 100% of economy class airfair subject to Rs 1.5 Lakh or actual fair paid whichever is lower. Freight Charges: reimbursement of actual freight charges subject to maximum Rs 50,000 for each MSME unit.
· Registration fees: Rs 5,000 or actual which even is less.
· Advertisement charges: Actual charges or Rs 2.5 Lakh whichever is less for a group of 14 MSME units organized by the applicant organization.
Note: The maximum ceiling of financial assistance for participation in one international event to be held abroad is Rs. 2.00 crore.
So if you are going to plan for export of your business there is great opportunity to access the international market with low cost and boost the growth of your business.
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