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Standing Finance Committee approves MSME Champions Scheme worth Rs 273 crore

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Nirmala Sitharaman

The Standing Finance Committee has approved the MSME Champions Scheme with a total outlay of Rs 273.24 crore. As part of this Scheme a ‘Digital MSME’ component has been included for digital empowerment of MSMEs in the country. In addition to this, there are several Technology Centres under the Ministry are also assisting on technological and automation interventions along with training support. In regard to international trade digitisation of local enterprises, the Standing Finance Committee has approved the International Cooperation Scheme comprising of First Time Exporters and Global Marketing Intelligence System with a total outlay of Rs 90 crore.

The Ministry is operating two schemes for setting up business incubators in educational institutes to facilitate innovation. These are “Support for Entrepreneurial and Managerial Development of MSMEs through Incubators Scheme” and ASPIRE (A Scheme for Promotion of Innovation, Rural Industry & Entrepreneurship) Scheme.

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The Government is taking necessary steps through the Digital MSME Scheme, with the following objectives:

  • To empower & enable MSMEs to harness IT as a medium of communication to revamp access to the markets to update their managerial and technical knowledge though online content–both static and dynamic.

  • To give them software interventions, evolving their internal efficiencies by way of intense ICT intake and automating procedure for cost reduction, imparting digital literacy and capacity enhancement for information access, processing, collaboration and dissemination.

  • To offer to the MSMEs a safe and sound bouquet of customized digital solutions which have been designed keeping in mind the diverse requirements of the eco-system, saving them from the travails of indiscreet and indiscriminate adoption of technology.

This information was given by the Minister for Micro, Small and Medium Enterprises Shri Narayan Rane in a written reply to Rajya Sabha today.

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