Indian Economy News

Government Launches Market Access Support Intervention under Export Promotion Mission to Strengthen Global Market Access for Indian Exporters

Market Access Support Intervention (Masi) is a new initiative provided by the Indian Government through the Export Promotion Mission to create additional access for Indian Exporters globally. According to the release issued by the Ministry of Commerce & Industry, the new initiative will help the exporters get noticed by facilitating their participation in overseas exhibitions / trade fairs / buyer seller meets, etc., thereby increasing their visibility of Indian products & services in the markets abroad. By way of targeted support, Masi intends to assist the exporters by reducing promotional costs, enabling them to make connections with Global Buyers as well as assisting them in finding new business opportunities.

Through the Market Access Support Initiative, financial support will be provided for eligible exporter associations, trade association affiliates, and eligible exporters participating in global marketing events. This program will work in conjunction with the current Export Promotion Schemes introduced to promote MSMEs, new enterprise development, and other exporter classes to access growing, new markets by building on their marketing and market access strengths. It is anticipated that increased market access and marketing capability will improve the global competitiveness of the identified product groups, textiles, engineering, chemicals, pharmaceuticals, agricultural products and services. In addition, this Initiative demonstrates the Government’s long-term commitment to improving the export competitiveness of India’s producers, while creating opportunities for greater integration into the global value chain. Overall, the implementation of this Initiative is anticipated to enhance the export growth of India, create new opportunities for exporters and contribute to the overall growth of the economy.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.