The International Coorperation Scheme (IC Scheme) is a demand-driven scheme that provides financial support on a reimbursement basis to qualifying State/Central Government Organizations and Registered Industry Associations, societies/trusts involved in the promotion and development of the MSME sector.
According to the existing guidelines, eligible organisations are facilitated for MSMEs to visit/participate in international exhibitions/trade fairs/buyer-seller meet etc. abroad, as well as holding International conferences/seminars/workshops in India, for technology infusion, exploring business opportunities, joint ventures, and so on.
During the current fiscal year 2018-19, Rs.3.59 crore has been released under the Scheme up to December 28, 2018, to assist 454 MSMEs.
During 2017-18, Rs.4.08 crore in financial assistance was made available to assist 723 MSMEs.
The Scheme’s guidelines are published on the Ministry’s website, https://www.msme.gov.in.
Objectives of the IC Scheme
- Infusion of technology and/or upgrading of Indian micro, small, and medium companies (MSMEs)
- Promotion of MSMEs’ exports
- MSMEs’ Modernization
Overview of the IC Scheme
The following activities are covered by the Scheme:
(i) Visits by MSME business delegations to other nations to international exhibitions/trade fairs, etc., with the purpose of finding new areas of technology infusion/upgradation, facilitating joint ventures, improving market for MSMEs products, and foreign collaborations, among other things.
(ii) Visits to and participation in international exhibitions, trade fairs, and buyer-seller meetings in foreign countries by Indian MSMEs.
(iii) Participation of Indian MSMEs in international exhibitions/trade fairs organised in India where international participants are present.
(iv) Organizing international conferences and seminars on issues and themes relevant to Indian MSMEs.
(v) Hosting/organizing International Conferences/Seminars/Workshops in India by the Ministry of MSME or its affiliates.
On a reimbursement basis, the IC Scheme provides financial support for flight and space rent.
Eligibility Criteria under the IC Scheme
The following are the eligibility requirements for financial assistance under the scheme:
• The organisation should be properly registered (i.e., companies under the Companies Act, societies under the Societies Act, and so on) with the primary goal of promoting and developing MSME.
• The organisation must have been involved in such activities for at least the last three years and have a solid track record.
• The organization’s accounts should have been audited on a regular basis for the previous three years.
• Events requesting financial assistance under the Scheme must have significant international participation.
How to Apply for the IC Scheme?
Applications for financial support may be sent to the Director (International Cooperation), Ministry of MSME, Udyog Bhavan, New Delhi, in the proforma provided by the Ministry (available at msme.gov.in). Applications for proposed events must include a budget estimate and other related papers, as stipulated by the Ministry.