Tech boost for MSMEs: Govt to increase number of centres for tech adoption among small businesses

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Published: September 26, 2019 7:51:45 PM

Technology for MSMEs: The government is looking to increase the number of technology centres called Tool Rooms from current 18 to 153 ahead including 15 under construction Tool Rooms and 120 new such rooms that have been approved by the government.

Banker, MSME, banking news, industry news, smeCurrently, there are more than 60 million MSMEs across various industries employing over 111 million people. Image: Reuters

Technology for MSMEs: To boost technology adoption among MSMEs, the government is looking to increase the number of technology centres called Tool Rooms from current 18 to 153 ahead including 15 Tool Rooms that are under construction and 120 new such rooms that have been approved by the government. When fully operational, the total 153 Tool Rooms will train around eight lakh youth in different skills, according to MSME Secretary Arun Kumar Panda present at the workshop for the adoption of new technologies among MSMEs inaugurated by MoS MSME Pratap Chandra Saarangi.

Saarangi stressed on the importance of technology for production, preservation and marketing of products and adopting new technologies to compete in the global market even as cautioned against the use of technology more than required that sometimes goes against nature, according to the statement issued by the MSME Ministry. Tool Rooms provide for new technologies including CAD/CAM, CNC machining for tooling, vacuum heat treatment, rapid prototyping, etc.

Also read: 25,000 SMEs to expand, grow in Thailand; new cross border arragement to help India’s small businesses

The workshop was intended to increase awareness and disseminate knowledge about emerging technologies, understand their use cases, impact on the sector and adoption challenges etc. It also focused on the way forward for collaboration between institutions for effect and faster implementation of technologies among MSMEs. For this, the ministry has invited dignitaries from different educational institutes like IIT Delhi, IISc Bengaluru, Department of Science and Technology etc., industry associations and different players operating in the market, the ministry said.

Adding to the measures to resolve MSMEs’ issue of lack of capital, MSME Minister Nitin Gadkari had recently announced that the government will contribute 10 per cent of funds to the small companies looking to raise equity capital by venturing into capital markets. “We have sent a proposal to the finance ministry so that MSMEs can raise money just like large companies,” Nitin Gadkari had said at a CII event. The government is also looking at resolving the funding issue for MSMEs and has been in constant touch with global financial organisations like BRICS to secure finances for Indian MSMEs, he added.

Currently, there are more than 60 million MSMEs across various industries employing over 111 million people and produces over 8,000 products.

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