Lack of access to latest technologies affects the capability of Small and Medium Enterprises to compete in the global market. In order to support SMEs in accessing latest technologies, the Ministry of Micro, Small and Medium Enterprises (MSME) implements a scheme named Credit Linked Capital Subsidy and Technology Up-gradation Scheme (CLCS-TUS). One of the components under the schemes is Credit Linked Capital Subsidy (CLCS) under which capital subsidy up to Rs. 15 Lakh is provided to Micro and Small Enterprises (MSEs) for accessing modern technology.
Other measures aimed at enhancing competitiveness are as follows:
This information was given by Shri Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises in a written reply to a question in Rajya Sabha today.
Run by: Ministry of MSME
Applicable to: Central or State Government Organisations, Enterprise of Industry Associations, Registered societies or Trusts and Organisations which are associated with promoting and developing MSME
Geographical boundaries are blurring with international trade taking centre-stage. Small and Medium sector entrepreneurs are now searching for international markets to boost their business. Finding interested international clie .may not be very difficult given India's competitiveness in most areas, but it certainly does not come cheap.
Cutting edge technology is also needed so that MSMEs can find their footing in the digitally driven markets and adapt to the changing market dynamics. Technological upgradation and international exposure require finance and here is where the International Cooperation Scheme of the Ministry of MSME comes into the picture.
What the scheme promises?
The scheme aims to help MSMEs by providing them finance for: