India Development News & Foreign Investment Opportunities

Cabinet approves Rs.2,900 crore subsidy for MSMEs

Scheme for innovation and digitization

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Scheme for innovation and digitization

 

MSME Ministry.

 

The Cabinet has approved on 13 Feb 2019 the Credit Linked Capital Subsidy and Technology Up-gradation Scheme (CLCS-TUS) with a total outlay of Rs.2,900 crore for the Micro, Small and Medium Enterprises (MSMEs).

The scheme aims at improving the competitiveness of MSMEs by integrating various ongoing schematic interventions aimed at up-grading technology through Credit Linked Capital Subsidy (CLCS), hand holding for zero defect zero effect manufacturing (ZED), increasing productivity through waste reduction (Lean), design intervention (Design), cloud computing (Digital MSMEs), facilitation of intellectual property (IPR) and nurturing new ideas (Incubation).

In addition, the scheme through Zero Defect & Zero Effect, component will promote reduction in emission level of greenhouse gases and improve the competitiveness through reduction in defect, wastage during the manufacturing process of the products.

It will also promote the innovation, digital empowerment of MSMEs, design interventions and support the protection of intellectual property of MSMEs, according to a release from the Cabinet Committee on Economic Affairs.

The scheme will facilitate technology up-gradation to MSEs, improvement in Quality of products by MSMEs, enhancement in productivity, reduction in waste and shall promote a culture of continuous improvement. fiinews.com

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