For a developing economy to make it big in the international markets, trade is one of the largest avenues. In order to reduce the consumption of imported goods and rather encourage manufacturers across the nation to produce higher-quality goods that can be exported, the government initiated various schemes.
One of the most prominent of these attempts is the Market Development Scheme.
The Market Development Scheme is currently implemented by the Ministry of Commerce and aims to encourage exporters – which also includes MSME exporters – to gain access to and also develop connections to overseas markets.
Origins of the Marketing Development Scheme
The MSMEs suffered massively when introduced to markets because they evidently lacked the skills and the expertise to survive in extremely competitive environments. In an attempt to provide a comprehensive package directed towards the promotion and development of MSMEs across the nation, the Marketing Development scheme or the MDS was initiated on the 30th of August 2000.
Objectives of the MDS
- One of the main objectives of the MDS is to encourage Small and Micro exporters to tap their full potential and develop profitable trade relations with international markets
- Increasing the participation of small/micro manufacturing units registered under the MSME India stalls at various International Trade fairs or Exhibitions.
- Enhancing the export output from small and micro industries – both quantitatively and qualitatively.
- Wide-spreading the adoption of barcoding of products on a nation-wide scale.
Through the MDS scheme, the Government aims to help the MSMEs across the nation to achieve their required targets, which will help them grow and develop in their own preferred niches.