For the next financial cycle 2021-22 to 2025-26, the Ministry of Micro, Small and Medium Enterprises (MSMEs) has approved the continuance of the International Cooperation (IC) Scheme.
Market Development Assistance (MDA) – (both physical and virtual mode), Capacity Building of First Time Exporters (CBFTE), and Framework for International Market Intelligence Dissemination are the three sub-components of the IC Scheme that have been amended by the ministry (IMID).
‘Competent Authority i.e. Secretary (MSME) has approved the SFC Memorandum for the continuation of the International Cooperation (IC) Scheme for the next financial cycle 2021-22 to 2025-26. In accordance with the approval accorded, the IC Scheme stands revised and will now have three sub components,” the ministry said in its circular dated August 19, 2021.
“The revised guidelines will also be available on the Ministry’s website www.msme.gov.in,” the circular continued, adding, “The guidelines for Sub-Component-1, i.e. MDA, are hereby disseminated for information and appropriate action by all involved.”
It is also informed that guidelines for the remaining two sub-components will be circulated after completion of background work for their operationalization.
According to the circular, the DC-MSME, NSIC, KVIC, and Coir Board are asked to distribute the revised Sub-Component-I guidelines to their field offices for their information, as well as advise them to bring the guidelines to the attention of Industry Associations/MSME units, particularly those belonging to the NER/SC/ST/Women categories, and encourage them to take advantage of the scheme’s benefits.
Under the IC scheme, financial assistance is provided on reimbursement basis to the eligible state /central government organisations, registered industry associations and societies/trusts associated with the promotion and development of MSME sector to visit/participate in international exhibitions /trade fairs/buyer-seller meet etc. abroad and also for holding international conferences/seminars/workshops in India which are in the interest of MSME sector. The scheme’s goal is to enhance MSMEs, modernise them, and promote their exports.