Modi promises patent department for MSMEs

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SummaryIn order to protect the innovations of Micro, Small and Medium Enterprises (MSMEs) in the state, Chief Minister Narendra Modi Saturday announced to open a patent department for the sector, which saw signing of nearly 12,800 MoUs worth Rs 24,000 crore.

In order to protect the innovations of Micro, Small and Medium Enterprises (MSMEs) in the state, Chief Minister Narendra Modi Saturday announced to open a patent department for the sector, which saw signing of nearly 12,800 MoUs worth Rs 24,000 crore.

“Even small industries need to patent their products. In order to facilitate this, we will open a special department in INDEXT-B (Industrial Extension Bureau) which will secure the innovations happening in SMEs,” said Modi while addressing a convention for the small-scale industries on the second day of the Vibrant Gujarat Global Investors’ Summit.

“By patenting products, you will secure your own products. This office will help and guide you,” said Modi while urging small-time businessmen to produce products that have zero defects and are cost-effective.

“This will help you to counter ‘dumping’ of goods by countries like China. So make products that can be marketed and sold in the global market,” he said, adding that he felt there was a growing market for environment-friendly technology which MSMEs needed to tap.

On the importance of creating durable products, the CM said, “Even if it means lesser profits, it is important to produce durable products to take on the likes of China.”

Emphasising the importance of smaller industries and entrepreneurs in achieving high industrial growth, he asked

SMEs to shed “defensive approach” and start aggressive branding and marketing with a focus on capturing the share of global market.

“First ensure the safety and security of your innovative product by registering its patent and then start constantly thinking about how to sell that product in the international market by adopting aggressiveness instead of defensive approach,” he said.

Calling the small-scale industry the growth engine of Gujarat, Modi said, “Growth of the SME sector nationally is 19 per cent whereas in Gujarat, the SME sector is growing at 85 per cent. This is the sector which has helped the state to generate maximum employment.”

Citing statement of a central government official, he said, “In the last five years, of the total jobs created in the country, 75% employment was generated by Gujarat, and SMEs have played a vital role in that.” With PTI

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