Under the Market Access Initiatives (MAI) Scheme, startups and new exporters are now eligible for airfare reimbursement to participate in international events, while the cap for existing exporters has been raised by 20%. The scheme offers financial support for initiatives aimed at promoting exports. Higher airfare reimbursements would also be available to exporters when they host overseas buyers in reverse buyer-seller meetings in India.
“Incentives are important because mega trade fairs are being considered, and there is a need to scale up our exhibitions and invite foreign companies to exhibit here,” a government official said.
India intends to build major trade fairs for food, textiles, and auto components on the scale of Messe Frankfurt, Gulf Food, and Canton Fair in order to achieve a 12% increase in goods exports by 2030.
“The coverage of new entrepreneurs with no exports for airfare support under the scheme is well conceived and pragmatic to encourage startups to enter the exports field, particularly as we aim for US$ 1 trillion in exports by 2030,” said Mr. Ajay Sahai, Director General, Federation of Indian Export Organisations (FIEO).
Benefits under the MAI scheme are obtained through activities arranged by the government, states, export development councils, and commodities boards, among others.
