• UGI USER
  • Jul 09, 2024
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“EEPC INDIA URGES RESTORATION OF INTEREST EQUALISATION SCHEME FOR EXPORTERS”

Why in the news?

  • EEPC India urged the government to restore the Interest Equalisation scheme for all exporters and increase MSME benefits.
  • The scheme’s benefits lapsed last month, except for MSMEs, which received an extension for two more months.

About EEPC India:

  • Establishment: EEPC India was set up in 1955.
  • Sponsorship: It is sponsored by the Ministry of Commerce & Industry.
  • Membership Base: EEPC India has over 12,000 members, with 60% being SMEs.
  • Advisory Body: EEPC India actively contributes to government policies related to the engineering industry.
  • Interface: It serves as an interface between the engineering sector and the Indian government.
  • Sourcing Facilitation: EEPC helps SMEs source from India and improve their standards to match international best practices.
  • Buyer-Seller Meets (BSM): EEPC organizes BSM events both within India and abroad.
source:pib
About Micro, Small and Medium Enterprises:

  • MSMEs are enterprises that are owned and operated by individuals or small groups of individuals. They are usually small in size, with limited resources and a narrow range of products or services.
  • Function: Produce, process, and preserve goods and commodities.
  • Formation: Ministry of Micro, Small, and Medium Enterprises (2007).
  • Act: Micro, Small, and Medium Enterprises Development Act (2006).

Key Government Initiatives Related to MSMEs:

  • Pradhan Mantri MUDRA Yojana: Provides loans up to ₹10 lakh to non-corporate, non-farm small/micro enterprises.
  • Credit Guarantee Schemes: Offered by the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
  • MSME SAMADHAN: Online Delayed Payment Monitoring System.
  • Government e-Marketplace (GeM):Online platform for public procurement from MSMEs.

Associated Article:

https://universalinstitutions.com/the-curse-of-smallness-definition-of-msmes/