Exporters seek amendments in MAI scheme to promote shipments

Exporters are seeking amendments in the Market Access Initiative (MAI) scheme with a view to promoting shipments from the country, an official said. Under the scheme, agencies such as export promotion councils, trade promotion organizations, and commodity boards get financial support from the government for undertaking various market access initiatives such as marketing, organizing fairs/exhibition, the opening of warehouses, capacity building, branding and statutory compliances in importing markets.

The issue was raised by many exporters in a meeting called by the commerce ministry last month. "They mentioned the need for amendments in the MAI scheme. They want assistance to buyers from both developed and developing countries," the official said.

The scheme plays a key role in promoting exports and addressing interventions required by India for exploring new markets and promoting export-oriented activities for commodities and services. The scheme is valid up to March 31 next year.

Exports during the April-October period of the current financial year dipped 2.21 percent to USD 185.95 billion. Since 2011-12, India's exports have been hovering at around USD 300 billion. During 2018-19, foreign shipments grew 9 percent to USD 331 billion.

The government is targeting to increase exports to USD 1 trillion in the coming years.