Incentive Schemes For Green Loans
MSE Scheme for Promotion and Investment in Circular Economy (MSE-SPICE): A SUB-SCHEME under Raising and Accelerating MSME Performance (RAMP)
The global landscape is witnessing a paradigm shift towards sustainability, with increasing recognition of the imperative to adopt circular economy principles. Circular economy practices enable MSMEs to optimize resource usage by promoting recycling, reuse, and responsible consumption. This not only reduces the environmental footprint but also enhances operational efficiency and cost-effectiveness. In the overall global sustainability effort, encouraging circular practices in micro and small enterprises (MSEs) has become a strategic necessity. The introduction of the MSE - Scheme for Promotion and Investment in Circular Economy (MSE - SPICE) is a proactive step to harness the potential of MSEs in driving sustainable development.
MSE SPICE is a pioneering initiative by the Ministry of Micro, Small and Medium Enterprises (MoMSMEs) dedicated to empowering Micro, Small Enterprises (MSEs) in embracing sustainable practices through the circular solutions.
The primary goal of this scheme is to promote resource efficiency, reduce environmental impact, and enhance the competitiveness of MSEs in India.
MSE Green Investment and Financing for Transformation Scheme (MSE- GIFT): A SUB-SCHEME under Raising and Accelerating MSME Performance (RAMP)
Promotion and adoption of green technologies and clean energy sources in MSMEs is critical for making MSMEs in India sustainable. India has also committed to reducing emissions intensity by 45 percent by 2030, from the 2005 level to the United Nations Framework Convention on Climate Change (UNFCCC). India’s existing Nationally Determined Contributions (NDC) includes its long-term goal of reaching net zero by 2070.
In order to address these challenges faced by MSMEs and fulfill the commitments made with respect to sustainability, the Ministry of MSME has launched sub scheme named MSME Green Investment Financing for Transformation (MSE - GIFT) Scheme under the RAMP Programme. RAMP is a World Bank supported Central Sector Scheme aimed at improving access of MSMEs to credit, market, and technology.
The overall objective of the MSE-GIFT Scheme is to provide support to the MSMEs in accessing institutional finance at a concessional rate for adopting clean / green technologies and help them to transform into green and sustainable business operations.
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