MSME Ministry and GJEPC sign MoU to boost exports
The Gem and Jewellery Export Promotion Council has signed a memorandum of understanding with the Ministry of Micro, Small, and Medium Enterprises. The MoU finalises the GJEPC’s role as the implementation agency of the MSME Ministry’s Capacity Building scheme for First Time Micro and Small Enterprise Exporters.
The scheme, which the GJEPC will implement, is part of the International Cooperation scheme, the GJEPC announced on its website. The MoU was signed by the MSME Ministry’s joint secretary Mercy Epao and the GJEPC’s executive director Sabyasachi Ray in New Delhi on September 20.
“The Ministry of MSME has taken a good step in capacity building for first-time exporters,” said GJEPC chairman Vipul Shah, the GJEPC reported. “This is an ideal time to encourage MSME units to become exporters, as we need all available support to reach the government’s export target of $45.7 billion for this fiscal year. Moreover, the Government of India has been negotiating FTAs [free trade agreements] with major export markets. All in all, it will be a win-win situation for small and medium units entering the export segment.”
Under the CBFTE, eligible MSMEs will be able to avail numerous benefits. This includes the reimbursement of the Registration-Cum-Membership Certificate which is fee paid by the first-time exporters for registration with Export Promotion Councils.
“As an export promotion council, this is an opportunity for us to incentivise MSE units to become exporters,” said the GJEPC’s executive director Sabyasachi Ray. “I would like to thank Ministry of MSME for choosing us to be the implementing agency of CBFTE for our gem and jewellery industry.”
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