Facebook for MSMEs: Govt’s social media portal soon for small businesses to make friends

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Published: September 30, 2019 1:18:11 PM

Technology for MSMEs: The MSME Ministry has a database of 75 lakh (7.5 million) registered MSMEs that can benefit from such collaboration as foreign SMEs will be able to bring along new technology, investment, and become part of the global value chain.

Between 1969 and 1999, India built 18 tool rooms and technology centres in India for MSMEs. (Representative image: Reuters)

Technology for MSMEs: To strengthen collaboration between Indian and foreign MSMEs, the government is planning a networking portal to help businesses connect with each other and forge partnerships. MSME Ministry Secretary Arun Kumar Panda at an event recently said that the portal will enable MSMEs, particularly in small cities and towns to adopt futuristic technologies and become more competitive. “We will be coming up with a digital portal this year itself where MSMEs can meet, collaborate, and contribute to each other’s innovation and growth,” Panda said.

The MSME Ministry has a database of 75 lakh (7.5 million) registered MSMEs, according to the Secretary, that can benefit from such collaboration as foreign SMEs will be able to bring along new technology, investment, and become part of the global value chain. “Indian SMEs have to compete among themselves and large corporate in India and also SMEs and large corporate in the world. Hence, there are two important things to boost their manufacturing competitiveness: innovation and collaboration,” Panda added.

Also read: Financial consultants: Today’s catalyst for SMEs to drive financial management, profitability

Between 1969 and 1999, India built 18 tool rooms and technology centres in India for MSMEs. Tool rooms provide for new technologies including CAD/CAM, CNC machining for tooling, vacuum heat treatment, rapid prototyping, etc. Panda said that the government will be enhancing the number of such tool rooms from 18 to 153 in the next 4.5-5 years that includes new 15 centres that are under different stages of completion, and 120 more technology centres including 20 large and 100 small for MSMEs to help them adapt to new technologies including artificial intelligence, blockchain, augmented reality, virtual reality etc.

“How do MSMEs sitting somewhere, not just in metros, will have these benefits? These centres will help them in adapting futuristic technologies to become competitive in the marketplace,” he said adding that every business will have to look at 3Ps —  they will have to find profit, they will have to look at the needs of the people, and lastly, it has to be planned and sustainable to enhance efficiency and productivity.

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