COSIA urges MSMEs to take benefit of ZED scheme
   Date :10-Jan-2022

COSIA  MSMEs
 
 
Business Bureau ;
 
The Government of India envisaged zero defect and zero effect (ZED) initiative to enhance MSMEs’ competitiveness and to make them sustainable. On this backdrop, COSIA has urged MSMEs of the region to take benefit of the scheme. CA Julfesh Shah, Chairman, COSIA Vidarbha, said that the Ministry of MSME is on the verge of launching the MSME Sustainable (ZED) Certification Scheme as component of MSME Champion scheme very soon and would be inviting proposal from MSMEs through online mode. The scheme is an extensive drive to create proper awareness in MSMEs about ZED manufacturing and motivate them for assessment of their enterprise for ZED and support them. After ZED assessment, MSMEs can reduce wastage substantially, increase productivity, expand their market as IOPs, become vendors to CPSUs, have more IPRs, develop new products and processes etc.
 
The vision of the scheme as envisaged would be to provide motivation and incentives in various ways for minimal defects and improve quality and precision of the product to make them globally competitive. He further said that MSME Sustainable (ZED) Certification is an extensive drive to create awareness among MSMEs about Zero Defect Zero Effect (ZED) practices. Vaibhav Agrawal, Vice Chairman COSIA said that this scheme will encourage and enable MSMEs for manufacturing of quality products using latest technology, tools.
 
“Under the ZED Scheme, MSMEs can have more and more privilege to avail the benefits / incentives under different scheme of the Ministry of MSME, other ministries in Government of India, Ministry of Railway, credit rating preferences by banks, State Government schemes,” added Vaibhav Agrawal. Sudarshan Shende, Vice Chairman COSIA, said that it will attract more and more MSMEs to get into the MSME Sustainable (ZED) certification journey and MSMEs can become national and international champions. Shekhar Patwardhan, Core Committee Member, said that COSIA Vidarbha, has taken the initiative to disseminate information amongst its MSME members and assist the Ministry in creating awareness and outreach of the ZED Scheme and motivating MSMEs to apply for a ZED Certification Level. Pranav Ambaselkar, Secretary, COSIA, said that MSMEs will be given financial assistance / subsidy for obtaining a ZED Certification Level as under: (i) Subsidy on Certification:- a) Joining reward of Rs 10,000/- (Bronze will become free if availed); b) Micro Enterprises – 80%; c) Small Enterprises – 60% For Silver AND Gold ZED Certified MSMEs; d) Medium Enterprises – 50%; e) Additional 10% for women/SC/ST owned MSMEs; f) Additional 5% to MSMEs, which are part of the SFURTI or MSECDP of Ministry of MSME.