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 come together under the Ministry of Corporate Affairs (MCA) to launch the Corporate Mitra Scheme.
The collaboration was formalized through a Memorandum of Understanding (MoU), marking a significant milestone in the implementation of the scheme announced in the Union Budget 2025-27.
The initiative aims to create a dedicated pool of trained professionals, known as "Corporate Mitras," who will assist Micro, Small and Medium Enterprises (MSMEs) in managing regulatory compliance, financial processes and business growth challenges.
What is the Corporate Mitra Scheme?
The Corporate Mitra Scheme has been introduced as a national initiative to bridge the gap between skilled professionals and the growing needs of India's MSME sector.
The programme seeks to create employment opportunities for young graduates while simultaneously providing professional support to MSMEs, which often face challenges in navigating regulatory requirements and business management functions.
According to the scheme framework, Corporate Mitras will be trained to assist businesses across several critical areas, including:
- Accounting
- Taxation
- Banking
- Financial Management
- Legal and Secretarial Compliance
- Cost and Management Accounting
The initiative aligns with the government's broader vision of strengthening the MSME sector and contributing to the goal of Viksit Bharat.
MoU Signed by Professional Institutes: ICAI, ICSI, ICoAI and IIT Madras
— Ministry of Corporate Affairs (@MCA21India) June 25, 2026
A significant milestone towards the launch of the #CorporateMitra Scheme.
The Professional Institutes i.e, ICAI, ICSI & ICoAI along with IIT Madras have joined hands through a collaborative framework… pic.twitter.com/82slKm72du
Key Highlights of the MoU
Under the collaborative framework supported by the Ministry of Corporate Affairs:
- ICAI, ICSI and ICMAI will contribute professional expertise and academic support.
- IIT Madras will play a role in the knowledge and training ecosystem.
- A structured talent pool of Corporate Mitras will be developed.
- MSMEs will gain access to trained professionals for compliance and business support.
- The scheme aims to enhance governance, operational efficiency and growth prospects for small businesses.
The partnership is expected to create a robust support system for MSMEs, which form the backbone of India's economy and contribute significantly to employment generation and economic development.
Course Structure and Eligibility
As per the scheme details released by MCA, the Corporate Mitra programme will have a duration of 12 months, comprising:
Academic Learning (6 Months)
- Around 150 hours of online learning
- Expert-led sessions
- Professional skill development
On-the-Job Training (6 Months)
- Practical training with professional firms
- Exposure to real-world compliance and business advisory work
Eligibility Criteria
Candidates must:
- Be Indian nationals
- Be graduates from recognized universities or final-year students
- Be up to 30 years of age
The registration process will follow a first-come, first-served basis.
Benefits for MSMEs and Young Professionals
The Corporate Mitra Scheme is designed to create a win-win model for both businesses and aspiring professionals.
For MSMEs, it offers access to trained personnel capable of assisting with regulatory compliance, accounting, taxation and business management functions.
For graduates and students, the programme provides structured learning, practical exposure and professional certification, helping improve employability in the corporate and compliance ecosystem.
Strengthening India's MSME Ecosystem
The signing of the MoU by ICAI, ICSI, ICoAI and IIT Madras represents a significant advancement in the implementation of the Corporate Mitra Scheme. By combining the expertise of India's premier professional institutions with academic and industry-oriented training, the initiative aims to build a future-ready workforce capable of supporting the country's MSME sector.
As India continues its journey towards becoming a developed economy, initiatives such as the Corporate Mitra Scheme are expected to play a crucial role in enhancing business compliance, promoting entrepreneurship and fostering sustainable economic growth.
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