New Delhi, Dec 21 (KNN) The Ministry of Micro, Small, and Medium Enterprises (MSME) has introduced three sub-schemes under the RAMP (Raising and Accelerating MSME Productivity) program on Wednesday, emphasising the adoption of sustainable technology, boosting the circular economy, and addressing delayed payments.

Launched by Union Minister for MSME Narayan Rane at the 2nd meeting of the National MSME Council, these schemes include the MSME Green Investment and Financing for Transformation Scheme (MSE GIFT Scheme), MSE Scheme for Promotion and Investment in Circular Economy (MSE SPICE Scheme), and MSE Scheme on Online Dispute Resolution (ODR) for Delayed Payments.

To foster women’s entrepreneurship in the MSME sector, the ZED Scheme of the Ministry has been made completely free for women-led enterprises and the government also guarantees 100 per cent financial support for the certification cost.

The MSME GIFT Scheme aims to assist MSMEs in adopting green technology by providing interest subvention and credit guarantee support.

Meanwhile, the MSE SPICE Scheme targets to support circular economy projects through credit subsidies, contributing to the MSME sector's goal of achieving zero emissions by 2070.

Additionally, the MSE Scheme on ODR for Delayed Payments pioneers legal support with modern IT tools and Artificial Intelligence to address delayed payments for Micro and Small Enterprises.

Additionally, the Ministry is driving further initiatives, including the Support for Commercialisation of IP Programme (MSME – SCIP Programme), empowering MSME innovators to commercialise their Intellectual Property Rights (IPR).

The Ministry solidified these initiatives through Memoranda of Understanding (MoUs) with implementing agencies Small Industries Development Bank of India (SIDBI), for MSME GIFT and MSME SPICE schemes and National Informatics Centre Services Inc. (NICSI), for MSE ODR scheme.

Chaired by Union Minister Narayan Rane, the 2nd meeting of the National MSME Council emphasised the need for states and union territories to actively contribute to the promotion and development of the MSME sector.

Bhanu Pratap Singh Verma, Union Minister of State for MSME and Vice Chairperson of the National MSME Council, stressed the importance of supporting MSMEs to become globally competitive.

Addressing participants, SCL Das, Secretary, Ministry of MSME, urged stakeholders from states/union territories to leverage the Ministry's initiatives for the benefit of MSMEs, contributing to the success of the RAMP program and advancing the national MSME development agenda.

(KNN Bureau)