The government announced on Thursday changes in exports promotion scheme and market access initiative by widening its scope to include premier higher education institutes like IITs and IIMs in the brand building process for Indian products in the overseas market.
The Cabinet Committee on Economic Affairs cleared the amendments in the market access initiative scheme, Finance Minister P Chidambaram said after the CCEA meeting.
Financial assistance will now be available for organising the 'Trade Festival of India' in select centres abroad to promote Brand India by showcasing the country's strength in services like health (ayurveda and yoga), cuisine, tourism and culture, besides the merchandise.
The scheme, being implemented by the commerce ministry, will cover Indian missions abroad and national level institutions like IITs, IIMs, NID and NIFT as also research institutions and universities.
The market access initiative will include capacity building and imparting training, improvement of laboratories, universities, research institutions for fulfilling the sanitary and phyto-sanitary measures.
Government support would be available for all trade related studies, including those related to the Free Trade Agreement and Regional Trade Agreement.
Finance could also be granted for developing a foreign trade facilitation web portal as well as for supporting cottage and handicraft units.
The level of assistance is being modified for various activities like opening of showrooms and warehouses, research and product development, assistance to visits of foreign buyers and development of common facilities.
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