Which one of the following statements is correct in respect of Market Access Initiative (MAI) Scheme? |ForumIAS

Q. Which one of the following statements is correct in respect of Market Access Initiative (MAI) Scheme?

[A] It aims to provide financial assistance to consumers to purchase Indian goods and services.

[B] The scheme aims to increase India exports to new markets and enhance its share in existing markets.

[C] It offers subsidies to Indian exporters for domestic production.

[D] It facilitates foreign investments in India manufacturing sector.

Answer: B

Notes:

Explanation – Market Access Initiative (MAI) Scheme is an Export Promotion Scheme meant 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. 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. It is administered by the Ministry of Commerce and Industry, Government of India, through the Directorate General of Foreign Trade (DGFT).

Source: Forum IAS

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