Which Union Ministry is connected to the 'Market Access Initiatives Scheme'?.
Ministry of Commerce and Industry.
2023 July
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A 20% higher ceiling for this incentive has been added for existing exporters, and the Market Access Initiatives (MAI) Scheme has been updated to allow startups and new exporters to receive airfare reimbursement for attending international events. Despite these steps, India's exports of goods fell significantly in June, falling 22% year over year to $32.97 billion, the biggest drop in three years. The goal of the MAI Scheme is to offer financial support for initiatives promoting exports.