An initiative by the Ministry of Micro, Small and Medium Enterprises, this scheme aims to conduct seminars and even reimburses the registration fees for the bar coding in order to encourage MSEs to use barcodes.
Objectives of the Scheme
The most basic objective of the scheme is to enhance the marketing competitiveness of MSEs by accomplishing the following:
- By providing 75% of the onetime registration fee and annual recurring fee (for the first three years) to be paid by MSEs to GS1 India (GS1 India is an autonomous body right under the Ministry of Commerce and Industry, wherein the Government of India is a solution provider for registration for use of Bar coding.
- By popularising the adoption of bar codes on large scales among various MSEs.
- By motivation and encouraging MSEs for the use of bar codes through the conduction of seminars on Bar codes and the benefits of having those around, etc.
Salient features of the Scheme
- Bar coding can have a definite impact on the success of any enterprise or company. Bar codes facilitate the accurate capturing of product information and help the dissemination of it electronically to supply chains ahead of the physical product flow. This is critical in lowering the inventory costs and in the accurate sales forecasting and dynamic production scheduling.
- The Ministry of MSME provides financial assistance for reimbursement of 75% of the one-time registration fee and 75% of the annual recurring fees for the first three years.
With such provisions in place these days, it is not difficult to have your own start-up up and running. Governmental interventions through the use of schemes and implementation through technology (like bar coding) make the process all the more streamlined.
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