The government is all set to liberalise the promotional Market Access Initiative scheme to enable exporters penetrate new markets, as it targets to achieve 120 billion dollar in exports this fiscal.
The Commerce Ministry is keen to widen the scope and scale of scheme, which had an allocation of Rs 552 crore in the 10th Five-Year Plan, and a note on this is likely to be sent to the Cabinet shortly, official sources told PTI.
Due to under utilisation of the fund in the past years, the Planning Commission had cut the annual allocation to Rs 40 crore.
Officials said efforts would also be made to bring the allocation to original level of about Rs 100 crore every year and they would be approaching the plan body for this.
MAI scheme is an export promotion scheme, which is envisaged to act as a catalyst in promoting India's exports on a sustained basis.
The scheme is formulated on 'focus product-focus' country approach to evolve specific startegy for specific market and specific products through market studies or surveys.
{{/usCountry}}The scheme is formulated on 'focus product-focus' country approach to evolve specific startegy for specific market and specific products through market studies or surveys.
{{/usCountry}}Under the scheme, assistance is provided to export promotion organisations, they said, adding that now the government is considering relaxing it for individuals who undertake promotional activities.