The government has revised the Transport and Marketing Assistance (TMA) scheme for specified agriculture products.
Context
The government has revised the Transport and Marketing Assistance (TMA) scheme for specified agriculture products.
What is the Transport and Marketing Assistance (TMA) Scheme?
- The TMA Scheme is for specified agriculture products.
- It aims to provide assistance for the international component of freight and marketing of agricultural produce which is likely to mitigate disadvantage of higher cost of transportation of export of specified agriculture products due to trans-shipment.
- It also aims to promote brand recognition for Indian agricultural products in the specified overseas markets.
- This scheme was introduced in February 2019 by the Department of Commerce.
- The scheme covers all the exporters of eligible agriculture products, registered with the relevant Export Promotion Council, as per the Foreign Trade Policy.
- The transport and marketing assistance scheme aims to reimburse the part amount of freight paid (sea and air) by the exporter and also the marketing costs involved in the promotion of the product.
- As per latest update, the TMA scheme has been extended till 31.03.2021.
Some New Changes
- Dairy products, which were not covered under the earlier scheme, will be eligible for assistance.
- Rates of assistance have been increased, by 50 per cent for exports by sea and by 100 per cent for exports by air.
