Sep 20: The Ministry of MSME has launched a scheme for the Micro and Small Enterprises (MSE) to promote their products in the international markets through incentives at various stages of the business cycle. The Ministry has appointed Export Credit Guarantee Corporation of India (ECGC) as the implementing agency for the ‘Capacity Building of First Time MSE Exporters’ (CBFTE) component of International Cooperation (IC) Scheme.
An MoU was signed between the Ministry of MSME and ECGC Ltd. today on 20.09.2022 at New Delhi, in the presence of Shri B. B. Swain, IAS, Secretary, MSME, Government of India. Under the MOU, the export credit insurance premium paid by the MSE exporters, holding the ECGC Small Exporter’s Policy, will now be eligible for reimbursement from the Ministry of MSME.
The grant under the scheme will be released to ECGC on reimbursement basis by the Ministry of MSME, on submission of the reimbursement claim in the proforma accompanied by the documents as prescribed by the Ministry. The amount received from the Ministry of MSME, will then be transferred by ECGC to the beneficiaries. The maximum reimbursement to an exporter in a financial year will be Rs. 10,000/- or actual, whichever is lower.
The eligibility criteria for availing the benefits under the Scheme are:
- Micro and Small Enterprise (MSE) with valid Udyam Registration
- Import Export Code No. of the MSE must not be older than 3 years on the date of export shipment
- Proof of premium payment.
The above scheme is applicable to the MSE exporters engaged in the Manufacturing Sector.Disclaimer: We donot claim that the images used as part of the news published are always owned by us. From time to time, we use images sourced as part of news or any related images or representations. Kindly take a look at our image usage policy on how we select the image that are used as part of the news.