Introduction

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 MSEs 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.

The Ministry launched MSE SPICE Scheme for empowering MSEs in embracing sustainable practices through the circular solutions at an outlay of Rs. 472.5 cr for 4 year duration.

Scheme components:

• Credit Linked Capital Subsidy: A capital subsidy of 25 % subsidy (only for plant and machinery) is admissible under the scheme (capped at Rs 12.5 lakhs) for projects costing upto Rs 2 crores
• Awareness Generation & IEC:

Eligibility:

MSEs registered under the Udyam Registration portal are eligible. They can utilize the scheme only for brownfield projects.

Expected Impact:

• 3400 MSEs

Visit Website Scheme Guidelines