Niryat Bandhu Scheme: A Learning Gateway For Young Entrepreneurs By Priyanka - January 22, 2020 Last Updated at: Aug 11, 2020 2031 On 20 July 2020, the minister of commerce and industry called on Indian investors to play a significant part in offering funds to local start-ups with a goal of fostering development among budding entrepreneurs. Introduction: With the business, e-commerce and marketing industries growing massively each day, and the younger generation being influenced by entrepreneurship, they need to have the correct skillsets Starting something new but do not have the appropriate skills to execute your ideas practically and get them running? Well, that is what the Niryat Bandhu Scheme is for. Niryat Bandhu Scheme not only guides and provides the young ones with the necessary skills but also helps in the growth of the International Business, allowing the Nation to have a place in the import/export entrepreneurial industry. On the 13th of November, 2011, the government announced the Niryat Bandhu Scheme to guide the entrepreneurs of first-generation. While starting the International business, the first and foremost point is the DGFT (Directorate General of Foreign Trade) in the Government of India. The very step that needs to be taken in the Niryat Bandhu Scheme is the Importer Exporter Code (IEC). According to the statistics, the DGFT issues about 60,000 IEC’s every year. Not just this, several IEC’s approach the DGFT to take advantage of the benefits provided under the Foreign Trade Policy. Get free legal advice now A number of Directorates have had the experience that a lot of freshers in the industry have an idea but not the right skills to enter this arena and have a command over it. This is where the role of the Niryat Bandhu Scheme comes into play. Under this scheme, the young entrepreneurs are trained and provided with the necessary skills, mechanism, and knowledge regarding the schemes of the Government and how to turn their ideas into actions. Individuals can also be a part of the Export Promotion Councils which provide information only to their members. In order to be a member annual/participation fee has to be given. BEST-DGFT( Business Excellence Support Team): There are 36 field offices of the DGFT located all across the country. The field offices are also called Regional Authority (RA) and these do their functions according to the FTP (Foreign Trade Policy). Under the scheme, several procedures are to be carried out on a daily basis. To develop a team in RA, all the field officers and team members work closely to form the team which is called BEST. The Business Education team and the support team must consist of at least 4 officials from the DGFT. Click here to know more on the Niryat Bandhu scheme (2014). Components of the Scheme: The material is prepared and developed in order to help and make the beginners understand the different procedures involved in international trade and also gain information about the same. The text can be made available in several languages and can be downloaded from the website by the RA’s. In every Regional Authority, one training session is conducted each month for all the new entrepreneurs or IEC holders. The participation for the session will be open to all, and there is no requirement of any particular registrations. Such sessions will be conducted on any fixed day and the session would involve explanation through PowerPoint presentations and live discussions. These sessions and seminars can be conducted at the town of export excellence. The venue can also vary depending on the group of exporters on specific requests. Not just at some specific places, these seminars can also be held at schools and universities as well. This will allow the students to gain knowledge about business and commerce, creating awareness in them. While conducting the seminars and sessions, the DGFT-BEST will be able to recognize the individuals having the potential in this field and hence, can be provided with further support. Maximum support of Rs. 10,000/- can be provided to an individual. Every Regional Authority has to build up BEST and equip themselves well-enough with all equipment for the seminar including laptop, projector, screen, etc. This Niryat Bandhu Scheme will be implemented in the 12th Five Year Plan. A proper plan has been developed for four years. The total cost of this Niryat Bandhu Scheme is 23.23 crores. Certification Programme: “Online Certification Programme for Export Business” was introduced in the year 2015 along with IIFT (Foreign Trade) for all new and budding entrepreneurs. Under this program, 20 live sessions are held, each being of a duration of 2 hours and can be attended by all the registered participants. The maximum number of participants that can register every month is 60. Conclusion: The Niryat Bandhu Scheme is a great opportunity being provided by the government to all the budding and new generation entrepreneurs, helping them explore their skills and potential to the level best. Not just this, this scheme also provides their appropriate knowledge about growing their business and being successful entrepreneurs.