Govt reviewing scheme that supports MSMEs to go global

International Co-operation Scheme is under review amid geopolitical uncertainty, tariff wars

- Manas Pimpalkhare

As global geoeconomic uncertainty and tariff wars disrupt supply chains, the government has started reviewing the scheme that offers incentives to small businesses to develop international business relations.

The ministry of micro, small & medium enterprises (MSMEs) has begun reviewing its 2019 International Co-operation Scheme, according to two people aware of the development. The scheme provides financial aid to industry associations, and state and central government organizations that promote the MSME sector.

The review will cover the participation of MSMEs in the scheme to examine whether the implementation has had a positive impact on the sector, especially on first-time exporters, the people mentioned above said.

The assessment is in its initial stages, one of the people said.