AI SummaryExport Market Development Scheme, 2008 helps local industries in Goa expand their reach into global markets by providing interest-free loans of up to ₹5,00,000. This scheme supports businesses in taking part in international trade exhibitions and conducting market study tours to boost their growth and export potential.
Scheme has been closed or it was a one time scheme which has been closed by the government.
Export Market Development Scheme, 2008 was a dedicated scheme by the Directorate of Industries, Trade and Commerce, Government of Goa. It encouraged local manufacturers to improve their footprint in export markets, helping them establish their goods firmly on the global map. This scheme focused on generating sustainable industrial growth and creating new employment opportunities through enhanced trade.
Launched in 2008, this scheme helped entrepreneurs by providing interest-free financial support for participation in overseas exhibitions and specialized market study tours. By removing financial barriers, it helped local businesses explore potential markets abroad. This scheme remained active until 31st March, 2011.
Export Market Development Scheme, 2008 - Introduction
Key Information
| Scheme Name | Export Market Development Scheme, 2008 |
|---|---|
| Level | State |
| Scheme For | Infra |
| Beneficiary State | Goa |
| Category | Business & Entrepreneurship |
| Target Beneficiaries | Business Entity |
| Benefit Type | Cash |
| DBT Scheme | No |
| Nodal Department | Commercial Taxes Department |
| Open Date | 2009-01-15 |
| Close Date | 2011-03-31 |
Benefits
Eligible units could get financial support in the form of an interest-free loan to expand their business reach. Details regarding the financial support are provided in the table below:
| Purpose of Assistance | Maximum Loan Amount |
|---|---|
| Participation in international shows or exhibitions | ₹5,00,000 |
| Market study tours abroad | ₹5,00,000 |
This loan had to be repaid over a duration of five years in equal half-yearly installments. Any delay in payment carried interest at a rate of 14% per annum.
Eligibility
To benefit from this scheme, a unit had to meet the following criteria:
- Unit had to be based in Goa and hold a valid permanent registration or acknowledgment via Entrepreneurs Memorandum II.
- Business had to be in active operation for at least three years.
- Unit had to possess a valid import/export code issued by the Government of India or the Reserve Bank of India.
- Total turnover for the last three preceding financial years should not have exceeded ₹10,00,00,000.
- This facility could be availed only once in the entire lifetime of the unit.
- If a unit had previously claimed these benefits, any subsequent owner upon transfer of the unit could not claim it again.
Application Process
This scheme followed an offline application process. The steps are given below:
STEP 1 - Obtain the official application form directly from the Directorate of Industries, Trade and Commerce or download the format from their official website.
STEP 2 - Print the application, fill in all mandatory details accurately, and attach a passport-sized photograph. Also attach self-attested copies of the required documents.
STEP 3 - Submit the completed application along with the necessary documentation to the Director, Directorate of Industries, Trade and Commerce.
Important Note - The application had to be submitted to the Directorate at least 30 days before the intended exhibition or study tour date.
Post-Application Process - The Directorate informed applicants of their decision within two weeks. If the application was successful, the loan was disbursed. Upon return from the tour or exhibition, a detailed report had to be submitted within 30 days.
Documents
Following documents were required for the application:
- Copy of the Permanent Registration Certificate.
- Copy of the Import/Export Goods Certificate.
- Financial statements validated by a Chartered Accountant for the last three years.
- Collateral security equal to the amount of funding being sought.
- Post-dated cheques for the scheduled loan repayments.
References
More details can be found on the Goa MSME Department official website.
FAQ's
How long did a unit need to be operational to qualify for the scheme?
Your unit must have been in operation for a minimum period of three years to be eligible.
What documentation proved a unit’s import/export activity?
You needed to provide an import/export code issued by the Reserve Bank of India or any competent authority of the Government of India.
What was the maximum turnover limit for units to be eligible?
The total turnover of your unit for the three preceding financial years should not have exceeded ₹10,00,00,000.
What happened if a unit that already took benefits was sold?
If the original owner already utilized the scheme benefits, the transferred unit was not eligible for further benefits.
What was the maximum loan amount?
The scheme provided an interest-free loan of up to ₹5,00,000 for eligible applicants.
What were the allowed purposes for the loan?
You could use the funds to attend trade exhibitions or conduct market study tours outside India.
What was the interest rate for delayed repayments?
A penalty interest rate of 14% per annum was applied to delayed repayments.
What collateral was required?
You had to provide collateral security equal to the amount of the contribution or the total loan amount sought.
What happened if a unit failed to repay the loan?
Your provided collateral security would be forfeited if you failed to meet the repayment schedule.
What was required regarding repayment assurance?
You had to furnish post-dated cheques; failure to realize these cheques could lead to legal prosecution.
How long did the Directorate take to decide on an application?
The Director of Industries, Trade and Commerce typically provided a decision within two weeks of receiving your application.
How much in advance did units need to apply?
You should have applied at least 30 days prior to your planned study tour or exhibition.