Q. Market Access Initiative (MAI) scheme, which was seen in the news, is related to which one of the following?
Answer:
Export promotion scheme
Notes: Ahead of the interim Budget 2024, exporters are urging the government to allocate $3.88 billion for the Market Access Initiative (MAI) scheme. MAI is an export promotion initiative aimed at catalyzing sustained growth in India's exports. The scheme focuses on specific products and countries, supporting activities like marketing projects abroad, capacity building, statutory compliances, and more. Eligible entities include government departments, trade promotion organizations, exporters, research institutions, and others. Funding is on a cost-sharing basis, administered by the Ministry of Commerce and Industry through Directorate General of Foreign Trade (DGFT).