NET ZERO IMPORTS
Incentives & Schemes: Small and Micro Enterprises( SMEs) fund should not exceed 1 million RMB, with a maximum of 2 million RMB for key projects.
ii) Partial subsidies are also available to small and medium technology based enterprises for new product and pilot production.
iii) Interest subsidies are provided to small and medium enterprises who are seeking to expand the scale of their operations. The sum of subsidies available is 1 million RMB and 2 million RMB for key projects.
iv) Equity investments are reserved for high-end innovative projects involving high levels of technology, high innovation and market potential in emerging industries.
This initiative of the Chinese Government is considered as the single biggest endeavour to infuse capital and confidence in innovation designing and manufacturing.
1. VAT and sales tax thresholds have been increased.
2. EIT reduced for SMEs until 2015 by the State Council.
3. Since 2012, 15 billion Yuan to be injected as an innovation fund by Central Government within a period of 5 years.
4. Preferential policies for procurement from SMEs.
5. 30 % of total budget to be earmarked for SMEs, with 60 % dedicated specifically for SMEs.
6. In submitting tenders SMEs will get a preference and an additional price preference of 6-10 %.
7. Credit support from financial institutions such as banks have been mandated such that:
a. Banks’ credit support for small firms should not grow at a lower rate than the average growth of loans from banks.
b. Small FIs meeting the loan growth target were also to be subjected to a. This policy is applicable to all Ministries / Departments( except the Ministry of Defence). This is also applicable for procurement of electronic products made under all Centrally sponsored schemes and grants made by the Central Government.
b. The products notified for providing preference to domestic manufacturers are: desktop PCs, dot matrix printers, tablet PCs, laptop PCs, contact smart cards, contactless smart cards, LED products, biometric access control / authentication devices, biometric finger print sensors, and biometric iris sensors.
3. An Electronic Development Fund( EDF) is proposed to be set up as a“ Fund of Funds” to participate in“ Daughter Funds” which in turn will provide risk capital to companies developing new technologies in the area of electronics, nano-electronics and IT.
a. Assuming that the average participation of EDF in Daughter Fund is 25 %, the policy will help leverage four times Government funding in the area of R & D and innovation. It will help create a battery of Daughter funds and Fund Managers who will be seeking good start-ups( potential winners) and selecting them based on professional considerations.
1. MSMEs in India receive wide array of technological support.
2. Small Industries Development Organization and National Small Industries Corporation Limited are engaged in providing such support.
3. Apart from these, the National Manufacturing Competitiveness Programme has also implemented crucial measures to enhance the competitiveness of Indian MSMEs through technological support.
4. Programmes have also been launched to help in marketing of MSME
12 products.
5. Ministry of MSME, Government of India also has a‘ Scheme for Assistance to Training Institutions’ which provides assistance for setting up and strengthening Entrepreneurship Development Institutes( EDIs).
6. These EDIs work towards entrepreneurship development and skill building programmes.
7. Small Industries Development Bank of
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