Prime Minister inaugurates MSME Technology Centre at Puducherry

ECONOMICS

■ Prime Minister inaugurates MSME Technology Centre at Puducherry

✅Prime Minister Shri Narendra Modi inaugurated a Technology Centre of the MSME Ministry, established at Puducherry, on the occasion of National youth day.

✅This World Class Technology Centre set up with an investment of about Rs. 122 crore is spread across 10 acres, will train 20,000 youth, support 2000 MSMEs and incubate 200 Start Ups, thereby propelling the local economy to great heights.

✅The Technology Centres across the country developed under the flagship Technology Centre Systems Program are supporting existing and prospective MSMEs by developing production facilities, manpower, providing consultancy and developing competitive edge through adoption of best practices.

● Technology Centre Systems Program

✅Ministry of Micro, Small and Medium Enterprises, Government of India has established 18 Technology Centres (TCs) earlier known as Tool Rooms (10 Nos) and Technology Development Centres (8 Nos) spread across the country.

✅The Technology Centres’ primary focus is to support industries particularly MSMEs in the country through:

✅1. Access to advanced manufacturing technologies.

✅2. Skilling manpower by offering opportunities for technical skill development to the youth at varying levels ranging from school dropouts to graduate engineers and Providing technical and business advisory support to MSME entrepreneurs.

● Project Cost and Sources of Funds

✅TCSP has an estimated cost of INR 2200 crore with support in funds from the World Bank to the tune of USD 200 Mn.

● Programme Objective

✅The Programme is expected to improve the competitiveness of Micro, Small and Medium Enterprises (MSMEs) in key manufacturing industries across India by:

✅1. Facilitating improved access to manufacturing technology

✅2. Improving further the availability and employability of skilled workers

✅3. Establishing strong focus in providing business & technical advisory services

SOURCE – PIB

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