Credit and Finance for MSMEs: The MSME Ministry is seeking to recognise organizations and organisations that have been producing on-time payments to MSMEs for goods and services bought. MSME Minister Nitin Gadkari through a webinar organised by a pro-entrepreneurship alliance of organisations — Global Alliance for Mass Entrepreneurship (GAME) on Wednesday also thanked such purchasers for producing timely payments. “My special thanks to all CEOs who are promptly paying. The idea is now coming to my mind that we should create some awards for those who are very punctual and giving time-bound payment to MSMEs,” Gadkari mentioned. The MSME Ministry had written to more than 2,800 corporates in October, just after writing to 500 such organizations in September, to settle MSME payments.
The minister stressed building technologies from current sources to build merchandise of worldwide requirements. This comes amid PM Modi’s Vocal for Local and Atmanirbhar Bharat campaigns to enhance manufacturing amongst smaller organizations in India and market entrepreneurship for undertaking so. The government currently runs various initiatives about encouraging entrepreneurship such as Startup India, Standup India, Entrepreneurship Skill Development Programme, and so on. “Mass entrepreneurship is very important. We have institutes of management, financial management, human resources but we don’t have institute of entrepreneurship. Conversion of knowledge into wealth is the future of the country but the conversion of waste into wealth is equally important. We need to find out a small technology by using available raw material in that area and we can make products of international standards,” Gadkari added.
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Currently, the government has 18 technologies centres to build skilled manpower and is working on building 15 more such centers, according to a statement by the MSME Ministry in August 2020, citing Gadkari. It is now seeking to lease these centers to engineering institutions for sensible education to the youth. “We already have a lot of technology centers in the country and till now we have invested Rs 6,000 crore in it. But now we are planning to give technology centers on a lease basis to engineering colleges, IITs, polytechnic colleges, and industry associations for them to understand what exactly practical training is needed in that area. We need to develop products, designs and it is the need of the hour.”
Technology Centres, also recognized as Tool Rooms, present precision tooling along with new technologies like CAD/CAM, CNC machining for tooling, vacuum heat therapy, fast prototyping, and so on. The current centers serve sectors like auto components, sports goods, glass, fragrance and flavour, footwear, electronic program style and manufacturing (ESDM), aerospace, and so on.