Consider the following statements about International Cooperation IC scheme ndash 1 O...........

Economic Affairs Small Scale Industries

Consider the following statements about International Cooperation (IC) scheme –

1. Objective is modernise Indian MSMEs and promotion of their exports.

2. It involves activities such as participation by Indian MSMEs in international exhibitions, trade fairs, holding international seminars on themes of interest to the MSME, etc.

Which of the statement given above is / are correct?

1 only

2 only

Both 1 & 2

Neither 1 nor 2

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Explanation:

The Ministry of Micro, Small and Medium Enterprises (MSME) is implementing International Cooperation (IC) Scheme with the objective of enhancing the competency of MSMEs, capturing new markets for their products, exploring new technologies for improving manufacturing capacity, etc. Financial assistance is provided under the Scheme on reimbursement basis to the eligible State /Central Government Organisations, Registered Industry Associations and Societies/Trusts associated with the promotion and development of MSME sector to visit/participate in international exhibitions /trade fairs/buyer-seller meet etc. abroad and also for holding International conferences/seminars/workshops in India which are in the interest of MSME sector.