Revamped Zero defect zero effect certification scheme launched.

Why in news?

• The Ministry of Micro, Small, and Medium Enterprises (MSME) launched a revamped ZED Certification Scheme (originally launched in 2016), with an aim to make Indian companies globally competitive and help them get easier access to capital.
• MSMEs will get subsidy as per the following structure, on the cost of ZED certification:
  • Micro Enterprises: 80%
  • Small Enterprises: 60%
  • Medium Enterprises: 50%
• There is also provision for additional subsidy for Women/SC/ST Entrepreneurs or MSMEs in NER/Himalayan/LWE/Island territories/aspirational districts.
• It will cover both manufacturing (first phase) and services sector (2nd phase).