In order to initiate and facilitate the up-gradation of technology, Ministry of Micro, Small and Medium Enterprises (MSME) is implementing Credit linked Capital Subsidiary Scheme (CLCSS) under which 15 percent (subject to maximum of Rs 15,000 lakh) upfront subsidy on capital investment of technology up gradation is provided to MSEs for modernization of their product equipment (plant and machinery).
The funds which have been allocated for the year 2015-2016 are Rs 300 crores which will involve 5,700 units. The ministry will also be implementing Technology and Quality Upgradation Programme (TEUQP) under the National Manufacturing Competitiveness Programme (NMCP) for technology up gradation of MSMEs. This was informed by Minister of State Micro, Small and Medium Enterprise, Giriraj Singh.
Under the new scheme, the government will be providing subsidies for the implementation of energy efficient Technologies (EET). The allocation of funds for this Central Sector Scheme during the financial year 2015-2016 is Rs 10 crores. Since these schemes are Central Sector Schemes no fund is allocated State/UT wise.
As per the latest available data, the total share of the MSME in total industrial production (manufacturing) was 33.73 percent and the share of MSME in total exports of the country as per the latest data available data is a whopping 44.70 percent.
The Ministry of MSME has schemes to assist the MSMEs participating in International Trade Fairs to enable B2B and B2C exposure for MSME exporters. This along with other MSME schemes like Marketing Development Assistance Scheme, NMCP, MSE-CDP Credit Guarantee Scheme and CLCSS ant the likes will help the MSME exporters to increase their exports.
For regular updates on MSME, visit our social media pages by clicking the options below:
Facebook
Twitter
Instagram
Pinterest
Recommended for you
