The Department of Commerce below the Union Ministry of Commerce & Industry on March 5, 2019, notified a scheme for Transport and Marketing Assistance (TMA) for Specified Agriculture Products. The scheme could be covered within the Foreign Trade Policy (2015-20).
The Transport and Marketing Assistance for precise agriculture merchandise scheme aims to offer help for the worldwide component of transportation of agricultural produce to mitigate the drawback of the better price of exporting agriculture products. It will sell emblem popularity for Indian agricultural products within the particular distant places markets. Assistance below TMA might be supplied in coins via Direct Bank Transfer as part compensation of freight paid.
The Freight On Board (FOB) substances in which no freight is paid using Indian exporters aren’t protected beneath this scheme. The help stage could be distinctive for one-of-a-kind areas as notified now and then for export of eligible products. The assistance can be provided if bills for the exports are obtained in Free Foreign Exchange through normal banking channels.
The scheme could be eligible for the exports made via Electronic Data Exchange (EDI) ports best.
The scheme covers freight and advertising help for export with the aid of air and the sea.
To export merchandise using sea, TMA could be based totally on the freight paid for a complete Twenty-feet Equivalent Unit (TEU) container. The help will now not be available for Less than Container Load (LCL) and a container with each eligible and ineligible shipment category.
Assistance for merchandise exported with the aid of air would be primarily based on consistent ton freight expenses on the net weight of the export shipment, calculated on the whole ton foundation. The TMA scheme would be reimbursed via the Directorate General of Foreign Trade (DGFT).
The DGFT will lay down techniques for scrutiny of the claims, audit of the payments made, recover the ineligible paid assistance and hobby on such recoveries. The defaulters could be answerable for penal movement underneath the Foreign Trade (Development & Regulation) Act, 1992, Rules.
Government launches a scheme to offer Transport and Marketing Assistance for agricultural merchandise.
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