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2014-03-28

MSME proposes Rs 10,000-cr fund for tech acquisitions

The Ministry of MSME has proposed to set up a fund for technology acquisition and support to assist the indigenous technology and acquisition of global technology by the India MSMEs.

The Ministry of MSME has proposed to set up a fund for technology acquisition and support to assist the indigenous technology and acquisition of global technology by the India MSMEs.

 

To this effect, a Technology Development Fund of Rs 10,000 crore is proposed for supporting MSMEs to undertake technology upgradation, acquisition, adaptation and innovation to enable them to move up the value chain.

 

The ministry also proposes to refine the current policy to bring up capacity, capability and technology development of the SMEs.

 

Setting up of a fund for Technology Acquisition and Support is in line with the recommendation of the Prime Minister’s Task Force on MSME sector. The key areas covered  under technology development and acquisition are  Information technology (ICT) adoption in MSME business processes,  Bio Tech product groups,  use of Nano tech in developing products / components, and use of Clean tech / Renewable energy based products and processes.

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