The Ministry of Micro, Small and Medium Enterprises (MSME) has approved the revised guidelines of International Cooperation (IC) Scheme and it would be effective with immediate effect.

“…in order to make IC Scheme more effective and beneficiary oriented, the guidelines have further been reviewed after obtaining inputs/suggestions from MSME Associations/Organizations,” the Ministry said in a notification.

As per these revised guidelines, the documents required at application stage and claim stage has been reduced to the minimum.

Both the application form and claim form have also been simplified. The applicant organizations seeking financial assistance under IC Scheme will be required to submit their applications through online only once the portal is ready for it. The portal will be launched shortly, added the notification.

Technology infusion and/or upgradation of MSMEs, their modernization and promotion of their exports are the principal objectives of assistance under the IC Scheme.

The activities covered under the scheme are – Visit of MSME business delegations to other countries for exploring new areas of technology infusion/upgradation, facilitating joint ventures, improving market of MSMEs products, foreign collaborations, to visit international exhibitions/trade fairs etc; Visit & participation by Indian MSMEs in international exhibitions, trade fairs and buyer-seller meets in foreign countries; Participation in International exhibitions/ trade fairs held in India in which there is international participation; and Holding international conferences and seminars on topics and themes of interest to the Indian MSMEs.

Source: KNN