Details of this scheme are as follows:
Run by: Ministry of MSME
Applicable to: Central or State Government Organisations, Enterprise of Industry Associations, Registered societies or Trusts and Organisations which are associated with promoting and developing MSME
Geographical boundaries are blurring with international trade taking centre-stage. Small and Medium sector entrepreneurs are now searching for international markets to boost their business. Finding interested international clients may not be very difficult given India’s competitiveness in most areas, but it certainly does not come cheap.
Cutting edge technology is also needed so that MSMEs can find their footing in the digitally driven markets and adapt to the changing market dynamics. Technological upgradation and international exposure require finance and here is where the International Cooperation Scheme of the Ministry of MSME comes into the picture.
What the scheme promises?
The scheme aims to help MSMEs by providing them finance for:
- Technology infusion and/or upgradation
- Promoting their exports
The International Cooperation Scheme promises to fund the costs incurred in the following activities
- Sending MSME delegates to foreign countries for exploring new technology so that the technology can be applied to their business for its upgradation
- Sending MSME delegates to foreign countries so that they can increase their business through international joint ventures, foreign collaborations and promotion of their products at international exhibitions or trade fairs
- Sending MSME delegates to participate in international exhibitions, trade fairs or buyer-seller meets
- Participating in trade fairs, exhibitions or buyer-seller meets held in India where there are a lot of international participants
- Holding international conferences and seminars on MSME related business themes or topics
For the above-mentioned activities, the International Cooperation Scheme pays the air fare incurred when travelling abroad, duty allowance on a per day basis and also space rent for holding exhibitions or trade fairs. Other expenses covered under the scheme include local transport, freight and insurance, communication services, printing of catalogue or brochures, etc. The quantum of assistance depends on the type of expense incurred, purpose, size and type of the enterprise subject to a maximum of Rs 25 lakh per event for events held internationally and Rs 12 lakh per event for events held in India.
Who runs the scheme?
The International Cooperation Scheme is administered by the Ministry of Micro, Small and Medium Enterprises (MSMEs).
Who can avail the scheme?
The following types of MSME organisations can avail the scheme:
- Central or State Government Organisations
- Enterprise of Industry Associations
- Registered societies or Trusts and Organisations which are associated with promoting and developing MSME
The qualifying organisations should also fulfil the following eligibility criteria:
- It should be a registered organisation which has the primary objective of promoting and developing MSMEs
- The organisation should be involved in promoting and developing MSMEs for at least the last 3 years and should have a good track record
- The accounts of the last 3 years should be audited
- Events which are being sponsored by the scheme should have international significance
How to apply for the scheme
- You can apply for the scheme in the following easy steps –
- Make an application for the scheme in a prescribed format which is available at www.msme.gov.in
- You can apply online or submit the filled application form to the Director (International Cooperation), Ministry of MSME, Udyog Bhavan, New Delhi
- You should also submit the estimated budget of the event for which the funding is sought and other relevant documents with the application form
This is an important scheme that enables SMEs to be get a sense of technology that i available and subsequently look at adopting it. To competent and compete on a global scale, adopting the latest technology is very important. By making use of the scheme you can not only participate in international events, you can also upgrade your organisation’s technology to give it an edge over your competitors.