New Delhi, Aug 24 (KNN) The ministry of Micro, Small and Medium Enterprises (MSMEs) has approved the continuation of the International Cooperation (IC) Scheme for the next financial cycle 2021-22 to 2025-26.

The ministry has revised the guidelines of the IC Scheme which will have will now have three sub-components such as: Market Development Assistance (MDA) - (both Physical and Virtual Mode), Capacity Building of First Time Exporters (CBFTE) and Framework for International Market Intelligence Dissemination (IMID).

''Competent Authority i.e. Secretary (MSME) has approved the SFC Memorandum for continuation of the International Cooperation (IC) Scheme for the next financial cycle 2021-22 to 2025-26. In accordance with the approval accorded, the IC Scheme stands revised and will now have three sub components,'' the ministry said in its circular dated August 19, 2021.

The circular further said that the guidelines for Sub-Component-1 i.e. MDA, are hereby circulated for information and necessary action by all concerned adding, ''The new guidelines will also be available on the Ministry's website www.msme.gov.in.''

It is also informed that guidelines for the remaining two sub-components will be circulated after completion of background work for their operationalization.

According to the circular, office of DC-MSME; NSIC; KVIC and Coir Board are requested to circulate the revised guidelines of Sub-Component-I to their field offices for their information and also advise them to bring the guidelines to the knowledge of Industry Associations/MSME units especially those belonging to NER/SC/ST/Women categories and encourage them to avail the benefits of the scheme.

Under the IC scheme, financial assistance is provided on reimbursement basis to the eligible state /central government organisations, registered industry associations and societies/trusts associated with the promotion and development of MSME sector to visit/participate in international exhibitions /trade fairs/buyer-seller meet etc. abroad and also for holding international conferences/seminars/workshops in India which are in the interest of MSME sector.

The objective of the scheme is to upgrade MSMEs, modernisation of MSMEs and promotion of the exports of MSMEs.