Union Minister for MSME Shri Narayan Rane launched three sub-schemes under the aegis of the RAMP programme today. These are MSME Green Investment and Financing for Transformation Scheme (MSE GIFT Scheme), MSE Scheme for Promotion and Investment in Circular Economy (MSE SPICE Scheme) MSE Scheme on Online Dispute Resolution for Delayed Payments.

The first scheme - The MSME Green Investment and Financing for Transformation Scheme (MSME GIFT Scheme) intends to help MSMEs adopt green technology with interest subvention and credit guarantee support.

The MSE Scheme for Promotion and Investment in Circular Economy (MSE SPICE Scheme) is the first ever scheme in the Government to support circular economy projects which will be done through credit subsidy and will lead to realising the dream of MSME sector towards zero emissions by 2070.

The MSE Scheme on Online Dispute Resolution for Delayed Payments is a first of its kind scheme to synergise legal support with modern IT tools and Artificial Intelligence to address the incidences of delayed payments for Micro and Small Enterprises.

The Ministry is also taking new initiatives under the existing schemes to provide enhanced support to the MSMEs. The Support for Commercialisation of IP Programme (MSME – SCIP Programme) will enable the innovators in the MSME sector to commercialize their IPR. In addition, the ZED Scheme of the Ministry has now been made completely free for women led MSMEs. The government guarantees payment of 100% financial support for the certification cost. These two interventions were also launched by the Union Minister.

The Ministry exchanged Memorandum of Understanding (MoUs) with the implementing agencies SIDBI (for MSME GIFT and MSME SPICE schemes) and with National Informatics Centre Services Inc. (for NICSI) for MSE ODR scheme.

The 2nd meeting of the National MSME Council was also chaired by Narayan Rane. Addressing the participants he asked all the States / UTs to work towards promotion and development of MSME Sector so that their efforts could result in increase in income and employment in the sector and contribute towards country’s economic growth.

Bhanu Pratap Singh Verma, Union Minister of State for MSME also graced the occasion as Vice Chairperson of the National MSME Council. He reiterated the need for supporting MSMEs in becoming globally competitive and emphasised need for developing synergies between the Central and state level initiatives.

SCL Das, Secretary, Ministry of MSME, while addressing the participants urged the representatives from the States/ UTs and other stakeholders to take advantage of the initiatives of the Ministry of MSMEs and ensure the benefits of the schemes are availed by the MSMEs and contribute towards success of the RAMP programme and contribute to achieving the national MSME agenda of MSME development in the country.

The Meeting was attended by the Secretaries of Central Ministries/Departments and Principal Secretaries and Nodal Officers from States/UT governments, CMDs of SIDBI and ONDC, CEO of NICSI, along with other dignitaries.

The National MSME Council has been set up by the Ministry to work as an administrative and functional body of the World Bank supported RAMP Programme to oversee inter-Central Ministerial/Departmental co-ordination, Centre State synergies and advise / monitor progress on the reforms mandated in the MSME sector.  RAMP Programme aims at improving access to market and credit, strengthening institutions and governance at the Centre and State, improving Centre-State linkages and partnerships, addressing issues of delayed payments and greening of MSMEs.