CSIP: PRELIMS BOOSTER SERIES -484 GOVERNMENT SCHEMES AND INITIATIVES
MARKET ACCESS INITIATIVE SCHEME
Why in News?
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.
What is Market Access Initiative 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 market and specific product through market studies/survey.
- Assistance would be provided to Export Promotion Organizations/Trade Promotion Organizations/National Level Institutions/ Research Institutions/Universities/Laboratories, Exporters etc., for enhancement of exports through accessing new markets or through increasing the share in the existing markets.
- Under the Scheme the level of assistance for each eligible activity has been fixed.
- The following activities will be eligible for financial assistance under the Scheme:
Marketing Projects Abroad
Capacity Building
Support for Statutory Compliances Studies
Project Development
Developing Foreign Trade Facilitation web Portal
To support Cottage and handicrafts units
- Eligible Agencies
Departments of Central Government and Organisation of Central/
State Governments
including Indian Missions abroad
Export Promotion Councils
Registered trade promotion Organisation
Commodity Boards
Apex Trade Bodies recognized under Foreign Trade Policy of Govt of India
Recognized Industrial & Artisan Clusters
Individual Exporters (only for statutory compliance etc.)
National Level Institutions (e.g. Indian Institutes of Technology (IITs), Indian Institutes of Management (IIMs), National Institute of design (NIDs), NIFT etc.)/ Research Institutions/Universities/ Recognized laboratories, etc.
- The funding for each project will be on a 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).