IndiaFilings / Learn / MSME / Revised Guidelines Of Msme International Cooperation Scheme
MSME International Cooperation Scheme - IndiaFilings

Revised Guidelines of MSME International Cooperation Scheme

The Ministry of Micro, Small, and Medium Enterprises (MSMEs) has approved the continuation of the International Cooperation (IC) Scheme for the next financial cycle from 2021-2022 to 2025-2026. The Circular dated 19th August 2021 stated that the ministry has revised the guidelines of the IC Scheme which will now have three sub-components such as:
  • Market Development Assistance (MDA) - (both Physical and Virtual Mode)
  • Capacity Building of First Time Exporters (CBFTE)
  • Framework for International Market Intelligence Dissemination (IMID)
In this article, we will look at the Revised Guidelines of MSME International Cooperation Scheme 2021 in detail.

The Gist of MSME Circular

  • MSME released the guidelines for Sub-Component-1 i.e. Market Development Assistance (MDA for information and necessary action by all concerned.
  • It is also informed that guidelines for the remaining two Sub-Components will be circulated after completion of background work for their operationalization.
For more details on Market Development Assistance (MDA), Click here

The objective of the International Cooperation Scheme

The key objective of the International Cooperation Scheme is to capacity build MSMEs for entering the export market by facilitating their participation in international exhibitions, fairs, conferences, seminars, and buyer-seller meets abroad.

Features of International Cooperation Scheme

  • International Cooperation Scheme provides MSME with actionable market intelligence and reimbursement of various costs involved in the export of goods and services.
  • The Scheme provides opportunities to MSMEs to continuously update themselves to meet the challenges emerging out of changes in technology, changes in demand, the emergence of new markets, etc.
  • All components of the scheme aimed at various aspects required to advance MSMEs position as emerging export players.

Sub-components of International Cooperation Scheme

As mentioned above, the revised IC Scheme will now have three sub-components such as:
  • Market Development Assistance (MDA) - (both Physical and Virtual Mode)
  • Capacity Building of First Time Exporters (CBFTE)
  • Framework for International Market Intelligence Dissemination (IMID)

Sub-Component I: Market Development Assistance of MSMEs (MDA)

Physical Medium

  • Participation of MSME delegations of industry associations and government organizations, involved in the promotion of MSMEs, in international exhibitions, trade fairs, and buyer-seller meet in foreign countries for exploring potential markets for exports, seeking joint ventures, awareness about latest technologies, etc.
  • This subcomponent of the IC scheme is organizing international conferences, summits, workshops, seminars in India on themes relevant to MSMEs by the Industry Associations and Government organizations.
  • As part of this scheme, Ministry is also Organizing Mega international exhibitions, fairs, conferences, seminars, and buyer-seller meets abroad.
  • Ministry of MSME is Organizing Mega international conferences/ summits/ workshops/ seminars, bilateral/multilateral Government to Government Events in India
Note Its organizations are solely or in partnership with industry associations for the promotion of the MSME sector.
  • Participation of Ministry-led Industrial delegations to International Exhibitions/Fairs/Conferences in foreign countries.

Virtual Medium

  • Participation (as exhibitors) of MSME delegations of industry associations and government organizations, involved in the promotion of MSMEs, in international exhibitions, trade fairs, and buyer-seller meets by foreign organizers for exploring potential markets for exports, seeking joint ventures, awareness about latest technologies, etc.
  • Industry Associations and Government organizations are Organizing international conferences, summits, workshops, seminars on themes relevant to MSMEs
  • Ministry of MSME is Organizing Mega international exhibitions, fairs, buyer-seller meets, conferences, summits, seminars, workshops, bilateral, multilateral Government to Government Events
Note: Its organizations solely or in partnership with industry associations for the promotion of MSME sectors

Sub-Component II: Capacity Building of First Time MSE Exporters (CBFTE)

The scheme offers Reimbursement of costs incurred by first-time MSE exporters on export shipments.:
  • Registration-cum-Membership Certificate (RCMC) paid by the first-time exporters for registration with EPCs.
  • An export insurance premium paid by MSEs.
  • The fee is paid on Testing & Quality Certification acquired by MSEs to export products.
 This will encourage MSEs to produce and offer products and services of international standards for the export markets

Sub-Component III: Framework for International Market Intelligence Dissemination (IMID)

Provisioning a National Resource Database System — Global Market Intelligence System for MSME units.  This system is proposed to act as a central knowledge repository of export-related data on foreign markets.
  • It will provide simplified information on trade statistics, market access issues, and export potential indicators.
  • It will further provide information on tenders and procurements globally and export orientation of MSMEs through the provision of specially designed Orientation Courses by specialized government institutions actively involved in the area of foreign trade.
The official circular pertaining to the Revised Guidelines of MSME International Cooperation Scheme is attached here for reference:
RENU SURESH
RENU SURESH Expert
Updated on: December 2nd, 2021

Popular Post

Download ePAN Card – Get ePan from NSDL & UTIITSL
80 Small Business Ideas

Starting a small business can be a transformative venture, offering the exciting opportunity...

Nadakacheri – Income Caste Certificate Download Online in Karnataka
TDS Rate Chart for Financial Year 2025-2026 (Assessment Year 2026-2027)

Tax deduction at source, shortly and popularly known as TDS, was introduced by the Income Tax...

Divorce Rules in India: Everything You Need to Know
How To Download GST Registration Certificate Online?

Goods & Services Tax Certificate is issued to people who are registered under GST...

PAN Card Cancellation Online
Find Complete Details of GST Registration Procedure

GST registration applies to all individuals and entities supplying goods or services in India. GST...

Check Your PF Claim Status Online Using PF Tracking ID
Gift Tax in India: Applicability, Exemptions and Rules

Gift tax in India is applied when the value of the received gift exceeds ₹50,000 in the...

Check Your PF Claim Status Online Using PF Tracking ID
Old Regime vs New Regime 2025: Which Tax Regime is Better for You?

The Union Budget 2025 has brought significant changes to India’s personal income tax structure, raising the...

Check Your PF Claim Status Online Using PF Tracking ID
What is the minimum turnover for GST?

The Goods and Services Tax (GST) is an indirect tax system introduced in India in 2017. It functions...

Check Your PF Claim Status Online Using PF Tracking ID
How can I check if a trademark is registered?

A trademark search is simply checking if another person or organization does not already own the...

Check Your PF Claim Status Online Using PF Tracking ID
Section 194H of the Income Tax Act: TDS on Commission & Brokerage

Section 194H of the Income Tax Act in India mandates the deduction of Tax at Source (TDS) on commission or brokerage...

Check Your PF Claim Status Online Using PF Tracking ID
Section 80G Deduction - Income Tax Act

Section 80G Deduction is a facility available in the Income Tax Act which allows taxpayers to...

Check Your PF Claim Status Online Using PF Tracking ID
Crypto Tax in India: Taxation On Cryptocurrency

The Income Tax Department (ITD) has not provided specific guidance on crypto taxes for Indian investors. However...

Check Your PF Claim Status Online Using PF Tracking ID
Internal Audit Applicability Under Companies Act, 2013

Internal audit applicability is a critical concept for companies in India, impacting various...

Check Your PF Claim Status Online Using PF Tracking ID
Difference between Private and Public Company

In the business world, two main types of companies exist: private company and public company...

Check Your PF Claim Status Online Using PF Tracking ID
New GST Rules for Rent

Ministry of Finance vide a Notification No 05/2022- Central Tax (Rate) dated 13.7.2022 has issued...

Check Your PF Claim Status Online Using PF Tracking ID
GSTR-1 and GSTR-3B Due Date Extension - New Due Dates For January 2025

The Central Board of Indirect Taxes and Customs (CBIC) has recently announced an extension...

Check Your PF Claim Status Online Using PF Tracking ID
Different Depreciation Rates under Companies & Income Tax Act

Depreciation is a key concept in finance and accounting. It helps us manage how the value of...

Check Your PF Claim Status Online Using PF Tracking ID
Form 10IA - Section 80DD Deduction

Form 10IA of the Income Tax Department must be filed by taxpayers claiming income tax deduction...

Check Your PF Claim Status Online Using PF Tracking ID
GST on Used Cars: New 18% Tax Rate Explained

The Goods and Services Tax (GST) system in India has been a significant reform in the country's...

Check Your PF Claim Status Online Using PF Tracking ID
MSME Registration - Udyam Registration

India's Gross Domestic Product (GDP) benefits significantly from the substantial...

Check Your PF Claim Status Online Using PF Tracking ID
Section 43B(h) - New MSME 45 Days Payment Rule

The Finance Act, 2023 introduced the MSME 45-day payment rule under Section 43B(h) of the Income Tax Act...

Check Your PF Claim Status Online Using PF Tracking ID
Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024

The Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024, was announced by Union Finance Minister...