National Awards Scheme is the scheme showcasing appreciation. Also, acts as positive reinforcement to MSMEs to work hard and attain growth.
MSMEs have sustained and have shown tremendous growth in the recent past. Also, this is the proof of visionary spirit and hard work of ambitious small entrepreneurs in India. The National Awards Scheme for Individual MSEs came into existence to recognize, motivate and appreciate the efforts and contributions of MSMEs.
MSME in India
India has noted the significant growth graph of the MSME sector. Despite minimalist support, they have established themselves by providing quality goods and services. Moreover, the MSME sector has shown growth in terms of production, quality, innovative product development, lean manufacturing and various other means within a short period of establishment. Also, development in MSMEs is prominent because they produce a wide variety of products of high quality.
Objectives of the National Award Scheme
The main goal of the scheme is to provide recognition and appreciation to the efforts and contribution of MSMEs. Simultaneously motivate them to strive for success and innovation. Thus, achieve these agendas by providing National Awards to MSMEs annually.
Targeted People
Every unit that is registered under MSME, capable of production of quality goods and services are eligible candidates. Also, MSMEs that benefit the Product flow and advancement of Economy are nominees for the National awards. Further, promotes entrepreneurs that are Women, SC/ST and NER by appreciating their existence.
Eligibility for the National Awards
As said previously, the targeted people are eligible, however, they must fulfill the following criteria’s:
- Every unit registered as MSME with a Permanent MSME residence
- MSMEs that have been in production or rendering services for the past three years continuously
Financial Assistance through the National Awards for MSME’s
In case of eligible MSMEs, multiple Awards in the form of a cash prize, Certificate, and a Trophy is given annually. Accordingly, it ranges from Rs 20,000 to 1 Lakh as explained hereunder:
- I – Cash Prize Rs.1.00 lakh
Provided as recognition from all units of MSME such as outstanding efforts from Micro and Small Manufacturing, Services, Medium Manufacturing. Further, the filed of research and development of Micro and Small entrepreneurship, and medium units. Also, the National award for Entrepreneurship Service is available in this category.
- II- Cash Prize Rs.0.75 lakh
- III- Cash Prize Rs.0.50 lakh
- For women– Cash Prize Rs.1.00 lakh
- In case of SC/ST- Cash Prize Rs.1.00 lakh
- For NER- Cash Prize Rs.1.00 lakh
Note: The above five awards are presented to the units involved in Micro and Small Manufacturing, Services for their outstanding effort.
- Award to MSMEs achieving over 80% and 50% in case of NER- Cash Prize Rs.0.20 lakh
The beneficiaries of these categories are the same as the 1st prize.
Types of Awards
Further detailed information on the scheme, awards, and criteria for winning. Accordingly, refer the document available under the MSME website, or click the links provided hereon:
- Outstanding efforts in Entrepreneurship in MSMEs, click Here
- Research & Development Efforts in Micro, Small & Medium Enterprises, click Here
- Quality Products in Micro & Small Enterprises (MSEs) in each selected product groups, click Here
- National award for Entrepreneurship Service, click Here
How to apply to National Awards scheme
Eligible Units can send their nomination to the Director of MSME-DI in the prescribed proforma. Accordingly, the format is available for download in the Ministry of MSME website linked here. Nonetheless, it must be with respect to the state where the MSME is registered or have filed Entrepreneurs’ Memorandum (EM).