TMA Scheme: The Ministry of Commerce and Industry recently revised the Transport and Marketing Assistance (TMA) scheme for specified agriculture products.
Key points about TMA for Specified Agriculture Products Scheme:
- The major changes that have been made in the revised scheme include dairy products, which were not covered under the earlier scheme, which will be eligible for assistance under the revised scheme.
- Rates of assistance have been increased, by 50% for exports by sea and by 100% for exports by air.
- The notification about the procedure for availing assistance under the revised scheme will shortly be announced by the Directorate General of Foreign Trade (DGFT).
- The revised TMA scheme will be available for exports affected on or after 01.04.2021 up to 31.03.2022.
- Enhanced assistance under the revised scheme is expected to help Indian exporters of agricultural products to meet rising freight and logistics costs.
About Transport and Marketing Assistance (TMA):
- The TMA Scheme was launched in 2019 by the Ministry of Commerce & Industry.
- The scheme was launched with an objective to provide assistance for the international component of freight and marketing of agricultural produce.
- All exporters, duly registered with relevant Export Promotion Council as per Foreign Trade Policy, of eligible agriculture products, shall be covered under this scheme.
- The scheme covers freight and marketing assistance for export by air as well as by sea (both normal and reefer cargo).
Duration of the Scheme:
- The scheme was initially applicable for exports affected during the period from 01.03.2019 to 31.03.2020 and was later extended for exports affected up to 31.03.2021.