{"id":3352,"date":"2020-03-17T08:55:27","date_gmt":"2020-03-17T03:25:27","guid":{"rendered":"https:\/\/www.grainmart.in\/news\/?p=3352"},"modified":"2020-03-17T08:55:28","modified_gmt":"2020-03-17T03:25:28","slug":"competition-studies-scheme-for-msmes","status":"publish","type":"post","link":"https:\/\/www.grainmart.in\/news\/competition-studies-scheme-for-msmes\/","title":{"rendered":"Competition Studies Scheme for MSMEs"},"content":{"rendered":"\n

Competition Studies Scheme for MSMEs targets products that are facing threats from foreign products. Thus, this specifically aids them to promote their product through marketing<\/a>. Further, assists them to create a brand of their own. Accordingly, this is achieved by conducting a detailed study of the market. Additionally, this studies in turn helps to attain funds to market the products locally.\u00a0<\/p>\n\n\n\n

MSME\u2019s Hurdles that can be Overcome by Competition Studies Scheme\u00a0\u00a0<\/strong><\/h5>\n\n\n\n

More than 40 Million industries in India are MSMEs<\/a>. Accordingly, they manufacture and provide quality products and services at low prices locally. However, the majority of buyers neither purchase nor have access to these products and services. Due to a variety of reasons like competitive foreign brands, no marketing, etc. Consequently, the trust factor they have on foreign branded products plays a significant role in the downfall.<\/p>\n\n\n\n

Regardless of the great quality, the MSME provide products for low price. Yet, customers tend to purchase foreign goods with lesser quality and higher costs. This not only leads to the decline of many MSMEs but also the decline of our Indian economy<\/a> due to foreign influx.<\/p>\n\n\n\n

Competition Studies helps surpass the major threat that halts MSME growth.<\/p>\n\n\n\n

Objectives of <\/strong>Competition Studies Scheme for MSMEs<\/h5>\n\n\n\n
  1. The key goal is to promote and protect locally made products from the threat of competition.<\/li>
  2. Focus and target on products that are under the threat by competition from international products due to marketing and branding schemes.<\/li>
  3. Subsequently, after identification, carry out further analysis.<\/li>
  4. Following analysis, identify the reasons for threat and how it affects the production.<\/li>
  5. After that, initiate counter measures to overcome this competition.<\/li>
  6. Assist up to Rs 8 lakhs for such studies.<\/li><\/ol>\n\n\n\n
    Salient Features of the Competition Studies Scheme<\/strong><\/h5>\n\n\n\n
    1. Bearing in mind the perspectives of World Trade Organization (WTO<\/a>), Free Trade Agreements (FTAs<\/a>), etc, the competent agencies study on the threatened products<\/li>
    2. Further, the Study helps outlines the reasons for the domination of foreign products over local production.<\/li>
    3. Additionally, they formulate new marketing measures for better acceptability of local products in the global market<\/li>
    4. The Government of India provides 80% of assistance up to a maximum of 8 lakhs per study. Meanwhile, the rest 20% is borne by the beneficiary unit itself.<\/li><\/ol>\n\n\n\n
      Targets of the Competition Studies Scheme<\/strong><\/h5>\n\n\n\n

      The scheme targets products that cannot survive in\nthe local market. Mainly, due to the invasion of international products. Thus,\ncompetent units with the same intentions of understanding the root cause of the\nproblem can apply under this scheme. Also. to conduct a successful study of the\nmarket and thereby, have their product flourish in international as well as the\nlocal market.<\/p>\n\n\n\n

      Financial Assistance Available Under the Competition Studies Scheme<\/strong><\/h5>\n\n\n\n

      Eligible products get assistance so that competent agencies can carry out a study on the same. Accordingly, the government assists up to a maximum of Rs 8 lakh per study. Consequently, the government covers 80% of the total cost, while 20% to be covered by the respective unit.<\/p>\n\n\n\n

      <\/p>\n\n\n\n

      \"\"
      Fund Sharing Pattern for Competition Studies Scheme for MSMEs<\/figcaption><\/figure>\n\n\n\n

      <\/p>\n\n\n\n

      The Government of India provides these funds in 3\ninstallments <\/h5>\n\n\n\n