Enhanced help underneath the revised scheme is anticipated to assist Indian exporters of agricultural merchandise to satisfy rising freight and logistics prices, the commerce and business ministry mentioned in a press release. Beneath the TMA, the federal government reimburses a sure portion of freight costs and offers help for the advertising and marketing of agricultural produce. It was launched in 2019 to spice up exports of such commodities to sure nations in Europe and North America.
The scheme has been prolonged until March 31, 2022.
“Now the Division of Commerce has notified revised TMA for specified agriculture merchandise scheme for exports effected on or after April 1, 2021 as much as March 31, 2022. The present scheme will stay in operation for exports effected as much as March 31, 2021,” the ministry mentioned.
Dairy merchandise, which weren’t lined underneath the sooner scheme, will now be eligible for help, it mentioned including that charges of help have been elevated, by 50% for exports by sea and 100% by way of the air.
The scheme was launched to offer help for the worldwide part of freight, to mitigate drawback of upper freight prices confronted by the Indian exporters of agriculture merchandise.
It was initially relevant for exports effected throughout March 1, 2019 to March 31, 2020 and was later prolonged as much as March 31, 2021.
The Directorate Basic of International Commerce (DGFT) will shortly notify the process for availing help underneath the revised scheme.