The government has said that the 'Corporate Mitra' initiative is designed to provide affordable and accessible compliance and business support services to micro, small and medium enterprises (MSMEs), while also creating a pool of trained para-professionals.

The scheme is being implemented by the Indian Institute of Corporate Affairs (IICA) under the Ministry of Corporate Affairs (MCA). As part of its outreach, IICA's Shillong campus recently conducted a webinar to raise awareness about the scheme among youth, students, professionals and MSMEs in Arunachal Pradesh, IANS reported.

Strengthening MSME Ecosystem

According to an official statement, the initiative aims to support MSMEs, particularly in tier-2 and tier-3 cities, and contribute to the broader vision of a developed India by 2047.

Under the scheme, accredited 'Corporate Mitras' will assist businesses with non-core functions such as regulatory compliance, taxation, accounting, financial management and governance. This is intended to help enterprises focus on growth, innovation and expansion while ensuring adherence to legal requirements.

Boost for North Eastern Region

The programme is expected to enhance employment opportunities and strengthen the MSME ecosystem, especially in the North Eastern Region.

An initial target of 2,000 participants has been set across India, including 200 from the North East. Candidates from the region will receive a 50% fee concession.

IICA Shillong has been designated as the nodal agency for coordinating the rollout of the scheme in the region, working with state governments and other stakeholders.

Towards a Formalized MSME Sector

The scheme seeks to build a structured support system for MSMEs by creating a network of trained and accredited para-professionals. The government said this approach would contribute to a more formalized, sustainable and resilient MSME sector in the long term.