Every MSME should know about the GIFT and SPICE schemes
India’s micro, small, and medium enterprises (MSMEs) are the backbone of its economy, contributing nearly 30% to the GDP and employing over 110 million people. However, with global supply chains, consumer preferences, and regulations shifting toward sustainability, MSMEs must evolve. The government has responded with two targeted initiatives: the GIFT (Green Investment and Financing for Transformation) and SPICE (Scheme for Promotion and Investment in Circular Economy) schemes. Although individually powerful, these schemes offer transformative potential when combined. This blog examines why every MSME should adopt both the GIFT and SPICE schemes , how they work in tandem, and the substantial long-term benefits they provide. Understanding the GIFT and SPICE schemes What is the GIFT scheme? The GIFT Scheme , implemented by the Small Industries Development Bank of India (SIDBI) , is designed to support micro and small enterprises (MSMEs) in adopting green technologies. It addresses two ...