Market Access Initiative (MAI) Scheme:
Ahead of the interim Budget 2024, exporters have urged the government to allocate funds worth $3.88 billion for the Market Access Initiative (MAI) scheme.
- Market Access Initiative (MAI) Scheme is an export promotion scheme envisaged to act as a catalyst to promote India’s exports on a sustained basis.
- The scheme is formulated on focus product-focus country approach to evolve specific markets and specific products through market studies and surveys.
- Assistance would be provided to Export Promotion Organizations/Trade Promotion Organizations/National Level Institutions/ Research Institutions/Universities/Laboratories, Exporters etc., for the enhancement of exports through accessing new markets or through increasing their share in the existing markets.
- Under the Scheme, the level of assistance for each eligible activities has been fixed.
- The funding for each project will be on cost-sharing basis with the sharing pattern ranging from 65% to 50% at the minimum.
- It is administered by the Ministry of Commerce and Industry, Government of India, through the Directorate General of Foreign Trade (DGFT).
