corporate law
Union Minister for Micro, Small and Medium Enterprises, Shri Narayan Rane, has officially launched the MSME Sustainable (ZED) Certification Scheme. In his address, he emphasized that this initiative has the potential to evolve into a nationwide movement, providing a pathway for Indian MSMEs to achieve global competitiveness. He highlighted that the ZED program aims to not only enhance productivity and performance but also to foster a more environmentally conscious mindset among manufacturers.
The ZED Certification Scheme is designed to encourage MSMEs to adopt Zero Defect, Zero Effect (ZED) practices. This initiative will:
Under the ZED Certification Scheme, MSMEs will benefit from subsidies structured as follows:
Additionally, an extra 10% subsidy is available for MSMEs owned by women, SC/ST entrepreneurs, or those located in Northeastern states, Himalayan regions, Left Wing Extremism (LWE) affected areas, island territories, or aspirational districts. Furthermore, MSMEs that are part of the SFURTI or the Micro & Small Enterprises – Cluster Development Programme (MSE-CDP) can receive an additional 5% subsidy.
Each MSME taking the ZED Pledge will be awarded a joining reward of ₹10,000.
A provision of up to ₹5 lakh per MSME is available for consultancy support to aid in the transition to Zero Defect, Zero Effect solutions. MSMEs may also access various other incentives provided by States, Union Territories (UTs), and financial institutions, including the option to apply for free certification under the MSME KAWACH (COVID-19 Support) initiative.
Shri Rane, alongside the Minister of State for MSME, Shri Bhanu Pratap, engaged with principal secretaries and officials from various States and UTs to enhance synergy and coordination in policy planning and promotion for the MSME sector.
He acknowledged the commendable initiatives by the States and UTs to develop policies aimed at strengthening regional MSMEs, stressing the importance of a strategic roadmap to enhance the outreach of interventions and expedite entrepreneurship at the grassroots level.
The meeting served as a platform for knowledge sharing, allowing States and UTs to discuss challenges, required assistance, and successful strategies. Participants exchanged innovative ideas and success stories, focusing on amplifying the impact of state-level interventions and effectively leveraging central government schemes to boost outputs and create job opportunities.
The Ministry of MSME is dedicated to promoting, developing, and supporting MSMEs across various sectors and regions. It administers over 20 different programs, including PMEGP, SFUTI, MSE-CDP, RAMP Scheme, ATI, and Udyam Registration. These initiatives are focused on enhancing access to finance, market linkages, technology upgrades, capacity building, innovation, and industrial infrastructure development.