Friday, November 14, 2014: In order to promote new knowledge-driven ventures and programs, government has planned to introduce an innovation fund completely for Micro, Small and Medium Enterprises (MSMEs).
As per Minister of micro, small & medium enterprises, Kalraj Mishra, this initiative would help in developing entrepreneurship in rural areas, amongst women, and SC/STs.
While inaugurating the two-day ‘Global R&D Summit 2014’ on the theme ‘Next Gen Innovations through Interdisciplinary Research’ Mishra said that the fund would cover khadi, village and coir sectors activities as well. The summit was organised by FICCI in association with the Department of Science & Technology, Government of India.
Mishra further noted that the new Sfurti scheme had assisted in providing start-up funds for small and new ventures. This initiative was in line to promote innovations in industry and also to make India a global platform for R&D in the coming years. He even stated that 15 new technological research centers to be set up with the help of the World Bank for the high end research to take place.
They will make India a perfect destination for ‘Make in India’ policy launched by the government by devising new technologies and pushing India’s products in the world market.
Mishra noted that they are continuously putting efforts towards skill development by introducing and implementing biometric system. He said that they are not only aiming towards technical advancement but are equally targeting the social problems of our country by promoting women and SC/ST entrepreneurship.
MSME plays an important role in spreading industries and proving employment opportunities in every sector. To produce globally competitive and acceptable products, there is a need for MSME to upgrade their R&D and Marketing strategy. He said that the government has organised number of programs to help and assist the entrepreneurs and small businesses. The micro, small & medium enterprises contribute to nearly 8 per cent of GDP, 45 per cent of manufacturing output and 40 per cent of the exports.
