On 15th December 2022, the Ministry of Micro, Small and Medium Enterprises (MSME) issued a notification bearing the subject “Sustainable Business Model” that implemented the MSME Champions Scheme. The Objective is for modernising MSMEs’ manufacturing processes, reducing wastages, encouraging innovativeness, sharpening business competitiveness along with facilitating their National and International reach and excellence. Numerous financial incentives and provided to MSMEs under the particular Scheme. Under the MSME Champions Scheme, there are three components which are as follows –
- MSME – Sustainable (ZED)
- MSME – Competitive (Lean)
- MSME – Innovative (Incubation, IPR, Design and Digital MSME)