Govt signs MoU with IIT Madras to roll out Corporate Mitra scheme for MSMEs
New Delhi, June 27
The Corporate Mitra scheme, announced in the Union Budget 2026-27 to create a pool of trained para-professionals for micro, small and medium enterprises, has moved closer to rollout with the signing of a Memorandum of Understanding with IIT Madras and the unveiling of the scheme's logo, ahead of the opening of registrations.
According to a joint press release, the MoU was signed on June 25 between IIT Madras, IIT Pravartak, SWAYAM Plus, the Institute of Chartered Accountants of India (ICAI), the Institute of Company Secretaries of India (ICSI), and the Institute of Cost Accountants of India (ICMAI) to operationalise the Corporate Mitra scheme.
The government had announced the Corporate Mitra scheme in the Union Budget 2026-27 "designed to create a pool of trained and certified para professionals to support MSMEs in managing business and regulatory compliances." The release said the initiative "will facilitate ease of doing business and contribute towards Viksit Bharat."
The Ministry of Corporate Affairs (MCA) said it laid the foundation for implementing the scheme by constituting a steering committee soon after the Budget announcement and coordinating with ICAI, ICSI, ICMAI and IIT Madras. The ministry also helped finalise the scheme guidelines, brochures and logo, while hosting the course content on the SWAYAM Plus portal for nationwide rollout, the release said.
The scheme is open to Indian nationals up to 30 years of age who are graduates or are in the final year of graduation. It includes around 150 hours of online academic learning through expert-led sessions, followed by six months of on-the-job training with professional firms.
The release said candidates will receive certification as Corporate Mitras after successfully completing both the academic modules and practical training. They will be trained in accounting, taxation, banking, financial management, legal and secretarial practices, and cost and management accounting.
The course fee has been fixed at Rs 3,000 plus GST, with a 50 per cent fee concession for women candidates and those from the North Eastern states, Himalayan regions, Andaman and Nicobar Islands, and Lakshadweep, according to the release.
The academic component will be delivered through the SWAYAM Plus platform with support from ICAI, ICSI and ICMAI.
The release said registrations for the Corporate Mitra course will open shortly through the websites of the Ministry of Corporate Affairs, SWAYAM Plus, ICAI, ICSI and ICMAI.
— ANI
Reader Comments
Finally a scheme that addresses the compliance burden on MSMEs. Being a small business owner myself, I know how tough it is to manage accounts, taxes, and secretarial work with a small team. If this produces truly trained para-professionals, it'll save us a lot of headaches. But I hope the quality of training is maintained—IIT Madras being involved gives some confidence. Kudos to the Ministry for thinking of this. 🙌
Interesting initiative. In Canada, we have similar programs for small businesses, but they're usually more expensive. I like the focus on hands-on training and the involvement of professional bodies like ICAI and ICSI. However, I wonder if 150 hours of online learning is enough to cover everything from banking to legal practices. That's a lot of ground to cover. Hope they have good quality control.
Looks good on paper. But why only up to 30 years of age? What about older graduates who lost their jobs during COVID? Also, "six months on-the-job training" with professional firms sounds nice, but who will guarantee these firms actually provide real work and not just use these "Corporate Mitras" as free interns? The MCA needs to ensure proper monitoring. Still, it's a decent start. 😕
As someone running an MSME in Tamil Nadu, I think this is a great initiative. The compliance burden is real—we spend a lot just on filing returns and managing accounts. If Corporate Mitras can handle all that professionally, it will help us focus on business growth. But I hope the government also works on simplifying regulations instead of just creating more certificates. The ultimate goal should be ease of doing business, not just training people. 🏭
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