According to the government, “Corporate Mitras” are intended to offer Micro, Small, and Medium Enterprises (MSMEs) high-quality, reasonably priced, and accessible compliance and business support services, as well as to develop a pool of trained paraprofessionals by giving young graduates industry-relevant knowledge and practical abilities.

To promote awareness of the Corporate Mitra Scheme among young people, students, MSMEs, professionals, and companies in Arunachal Pradesh, the Ministry of Corporate Affairs’ Indian Institute of Corporate Affairs (IICA) in Shillong held a webinar.

According to an official statement, the programme hopes to help MSMEs, especially those in tier 2 and 3 cities, contribute to the broader goal of a Viksit Bharat at 2047.

It is anticipated that the program will improve job prospects, particularly in the Northeastern Region, and fortify the MSME environment.

The approved “Corporate Mitras” are expected to provide affordable and accessible professional assistance to the local enterprises, for the non-core parts of their business operation, such as regulatory, compliance, financial, taxation, accounting, and governance-related needs, thereby ensuring that MSMEs can focus on innovation, expansion, and growth, while meeting regulatory requirements with ease.

The statement said that the scheme is intended to have an initial pan-India goal of 2000 participants, 200 of whom would be from the North East Region (NER), and that NER candidates would receive a 50% tuition reduction.

IICA Shillong has been designated as the nodal organization for communication and liaison with state governments and other stakeholders for the scheme’s rollout and implementation for the Northeast area.

By creating a robust support network for MSMEs and making it easier for them to access a pool of trained, trustworthy, and accredited para-professionals known as “Corporate Mitras,” the plan represents the ideal of a formalized, financially sound, and prosperous MSME sector.