New Delhi [India]: The Institute of Chartered Accountants of India (ICAI), the Institute of Company Secretaries of India (ICSI), the Institute of Cost Accountants of India (ICMAI) and IIT Madras have signed a Memorandum of Understanding (MoU) to support the launch of the Corporate Mitra Scheme, an initiative backed by the Ministry of Corporate Affairs.
The collaboration aims to create a cadre of "Corporate Mitras" to assist micro, small and medium enterprises (MSMEs) in improving regulatory compliance, strengthening corporate governance and supporting business growth.
The initiative brings together professional expertise from the three statutory institutes and the technological capabilities of IIT Madras under a collaborative framework supported by the Ministry of Corporate Affairs.
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The Corporate Mitra Scheme is expected to provide MSMEs with guidance on compliance-related requirements while helping them build sustainable and growth-oriented businesses.
During the Union Budget 2026-27, the Government said that it will facilitate Professional Institutions such as ICAI, ICSI, ICMAI to design short-term, modular courses and practical tools to develop a cadre of ‘Corporate Mitras’, especially in Tier-II and Tier-III towns.
These accredited para-professionals will help MSMEs meet compliance requirements at affordable costs.
Corporate Mitras are trained, certified paraprofessionals created by the Indian Government (under the Ministry of Corporate Affairs) to help Micro, Small, and Medium Enterprises (MSMEs) navigate regulatory compliance and business growth.
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