India's Ministry of MSME Signs MoU with GJEPC

New Delhi: GJEPC was appointed as the implementation agency of the MSME Ministry’s Capacity Building scheme for First Time MSE (Micro & Small Enterprise) Exporters (CBFTE), which is part of the International Cooperation (IC) scheme.

A Memorandum of Understanding (MoU) finalising the same was signed by Ms. Mercy Epao, Joint Secretary (SME), Ministry of MSME and Mr. Sabyasachi Ray, Executive Director, GJEPC in the presence of Mr. B B Swain, Secretary MSME and Mr. Naresh Lathiya, Convener MSME, GJEPC in New Delhi on 20th September.

The Ministry of MSME had revised the IC Scheme in August 2021 and a new Sub-component II: Capacity Building of First Time MSE Exporters (CBFTE) had been incorporated. And one of the components of this scheme is the reimbursement of the Registration-Cum-Membership Certificate (RCMC) fee paid by the first-time exporters for registration with Export Promotion Councils (EPCs).

Mr. Vipul Shah, Chairman, GJEPC said, “The Ministry of MSME has taken a good step in capacity building for first-time exporters. This is an ideal time to encourage MSME units to become exporters, as we need all available support to reach the Govt.’s export target of $45.7 billion for this fiscal year. Moreover, the Govt. of India has been negotiating FTAs with major export markets. All in all, it will be a win-win situation for small and medium units entering the export segment.”

Talking about GJPEC’s collaboration with Ministry of MSME, Mr. Sabyasachi Ray, ED, GJEPC said, “As an export promotion council, this is an opportunity for us to incentivize MSE units to become exporters. I would like to thank Ministry of MSME for choosing us to be the implementing agency of CBFTE for our gem & jewellery industry.”

MSMEs fulfilling following criteria shall be eligible for availing benefit under CBFTE:

  • Micro and Small Enterprise with valid Udyam Registration
  • The applicant’s Importer Exporter code (IEC) must not be older than 3 years on the date of export shipment
  • MSE shall be eligible for refund of 75% of the cost paid subject to a maximum of Rs. 20,000/-

GJEPC would have the discretionary power in regard to the eligibility of the MSE subject to the IC scheme (CBFTE) guidelines and the eligible amount of refund claim in respect of an individual MSE, based on documents provided by MSEs.