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2013-08-12

MSME Min. to send Rs 5,500 innovation fund proposal to Cabinet soon

The Ministry of MSME is expected to send Rs 5,500-crore \\\'India Inclusive Innovation Fund\\\' proposal to the Cabinet soon, with a view to encourage R&D activities in these units.

The Ministry of MSME is expected to send Rs 5,500-crore 'India Inclusive Innovation Fund' proposal to the Cabinet soon, with a view to encourage R&D activities in these units.

 

The proposal would also help in generating employment and supporting livelihoods across the country through innovative enterprises, an official said.

 

The MSME Ministry, which had taken the initiative in consultation with the National Innovation Council to set up the fund, has circulated a Cabinet note for consultations to the concerned ministries.

 

The scheme would also promote innovation aimed at improving the competitiveness and efficiency of SMEs.

 

MSMEs face challenges such as lack of access to finance, non-availability of collaterals and delayed realisation of receivables.

 

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