IITs to encourage research and innovation by leasing technology centres to engineering colleges, : Gadkari

CIOReviewIndia Team | Thursday, 17 December 2020, 08:54 IST

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The Honorable Union Minister of India, Shri Nitin Gadkari, on Wednesday said that the MSME ministry plans to lease technology centres to engineering colleges, IITs, and Polytechnic colleges, and industry associations for overwhelmingly encouraging research and innovation.

He said, “Micro, small and medium enterprises are the backbone of the economy and there is a need to create employment using surplus resources. “Today, there is an import of Rs 8 lakh crore crude oil in the country, instead, we can build Rs 2 lakh crore ethanol economy by tapping into domestic resources. The gap between India and Bharat is still wide but with our motto of reform, perform and transform, we can definitely overcome the challenges.”

While observing that Rs. 6,000 crore have already been invested to technology centres till now, the MSME minister said, “Now we are planning to give these technology centres on a lease basis to engineering colleges, IITs, polytechnic colleges and industry associations with a good track record."

In the virtual MSME Finance Week, which was organized by the Global Alliance for Mass Entrepreneurship (GAME), Shri Gadkari added, “A key reason for most MSMEs to turn into non-performing assets (NPAs) is delayed reconciliation of their receivables and bills that creates liquidity constraints hence affecting their sustainability."

Ravi Venkatesan, Founder of Game, said, “This was one of our key recommendations to the government for MSMEs to survive - to ensure quick disbursement of payables from not only government departments, but also private players.”

In alignment of the technology centers, the MSME ministry allows designing, and manufacturing of sophisticated tools, parts, components, and products of international standards.

The recent hardware and software available in these centres guarantees professional design and 3D solid modeling, where the production facilitates at the technology centres offer an array of cutting edge production services to MSMEs.

Adding to these, the institutes provide technical services like design of parts, and components, materials testing, heat treatment, quality control, and technical consultancy related to the product & process improvement.

The technology centres, apart from extending design, development, and manufacturing supporting to the MSMEs for complex tools, parts and components, have also supported the strategic sectors for the country in divisions like aerospace, defence, and atomic energy, fulfilling their R&D requirements.

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