QMS/QTT scheme is an initiative by the Ministry of Micro, Small and Medium Scale Enterprises in India. Quality Management Standards/ Quality Technology Tools scheme is launched to enable the manufacturing sector in India to be competitive through the checks. The QMS/QTT scheme is launched under NMCP- National Manufacturing Competitiveness Program.
The objective of the MSME QMS/QTT scheme is to encourage the MSMEs to adopt the latest quality policy. The other objective is to keep a watch on the sectoral development.
Benefits of QMS/QTT Scheme
This scheme is focused on making small and medium entrepreneurs in India become more productive, competitive, and be able to produce better quality products. And that too at competitive prices. The adoption of the following features will help the MSMEs achieve better in their field:
- Optimal use of available resources
- Improvement of product quality
- Reduction in rejection and thus, rework of manufacturing
- The scheme is helping the MSME organizations to understand foreign products that have a market or are penetrating in the Indian market.
- To help micro, small and medium enterprises to strengthen their position in the India market.
Eligibility for QMS/QTT Scheme
The enterprises that have entrepreneur’s memorandum are considered to take the benefits of the scheme. The following are the other criteria:
The enterprises would be qualified if they are engaged in their current activities for more than 2 years or have a good track record.
The business must have regular audits of their accounts for the past 2 years.
The attempts will be made to select 50% of organizations from the micro sector and the other 50% from small.
All publicity material of the enterprise such as banners or reports should indicate the support of the MSME ministry.
The eligible enterprises should submit an application in the prescribed format along with the below-mentioned documents:
An undertaking to contribute 25% to 50% of the total cost of the enterprise.
And an affidavit stating that no similar benefits are obtained from any other scheme sponsored by the government.
To know more, visit government website.