MSMEs to get subsidies to adopt 'zero defect zero effect' practices

The Micro, Small, and Medium Enterprises Ministry has launched an extensive drive to enable and facilitate MSMEs adopt 'Zero Defect Zero Effect' (ZED) practices and motivate and incentivise them for such product certification while also encouraging them to become champions in their respective space.

Through the journey of ZED certification, MSMEs can reduce wastage substantially, increase productivity, enhance environmental consciousness, save energy, optimally use natural resources, and expand their markets.

Under the scheme, MSMEs will get subsidies as per the cost of ZED certification: micro enterprises at 80 per cent, small enterprises at 60 per cent, and medium enterprises at 50 per cent, respectively, a statement said.

There will be an additional subsidy of 10 per cent for the MSMEs owned by women/SC/ST entrepreneurs or MSMEs in northeast/Himalayan/LWE/island territories/aspirational districts.

In addition to above, there will be an additional subsidy of 5 per cent for MSMEs which are also a part of the SFURTI OR Micro and Small Enterprises - Cluster Development Programme (MSE-CDP) of the Ministry.

Further, a limited purpose joining reward of Rs 10,000 will be offered to each MSME once they take the Zero Defect Zero Effect (ZED) pledge.

Within just a few hours of the launch, more than 1800 MSMEs had already registered and taken the ZED pledge.

(With inputs from IANS)

Published on: Thursday, April 28, 2022, 06:40 PM IST