Pal Tiwari,
Yes, you are good with Material I check in your attached SFW5 screenshot; below are the functions to be activated.
Master Data Governance, Generic Functions (MDG_FOUNDATION)
Master Data Governance, Generic Functions 2 (MDG_FOUNDATION_2)
Master Data Governance, Generic Functions 3 (MDG_FOUNDATION_3)
Master Data Governance for Material (MDG_MATERIAL)
Master Data Governance for Material 2 (MDG_MATERIAL_2)
Master Data Governance for Material 3 (MDG_MATERIAL_3)
Looks like all essential functions are already activated, If you want to use Enterprise Services to load data into the active or staging area of the hub, activate the business function ERP_MATERIAL_SOA. If you want to use the MDG for Material homepage or the Business Context Viewer you should activate the business functions /BCV/MAIN and /BCV/MAIN_1.
Thank you,
Parvez