MSME Current Affairs

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Union Government launches Technology Acquisition and Development Fund under NMP

Union Government has launched the Technology Acquisition and Development Fund (TADF) under the National Manufacturing Policy (NMP), 2011.

It was launched by Union Minister of State (MoS) for Commerce & Industry Nirmala Sitharaman in New Delhi.

Key facts

  • TADF will facilitate Micro, Small & Medium Enterprises (MSME) to acquire clean, green and energy efficient technologies.
  • It will also catalyse the manufacturing growth in MSME sector with an aim to contribute to ‘Make in India’ initiative.
  • Implementation: The scheme will be implemented through Global Innovation and Technology Alliance (GITA) which is a joint venture company of CII and Department of Science & Technology. GITA was launched in 2007-08 to stimulate private sector’s investment in Research and Development.
  • Direct Support for Technology Acquisition: Proposals will be invited for reimbursement of 50 per cent or up to 20 lakh rupees of technology transfer fee from Indian industry.
  • In-direct Support for Technology Acquisition through Patent Pool: TADF will provide financial support to MSME’s to acquire patent from across the world based on applications.
  • Patent/Technology would be licensed to selected MSME’s and they will get a subsidy of 50 per cent of mutually agreed value or upto 20 lakh rupees.
  • Technology/Equipment Manufacturing Subsidies:TADF will support manufacturing of equipment for reducing energy consumption, controlling pollution and water conservation.
  • In this regard, subsidy of up to 10 per cent of capital expenditure and machinery will be provided to the manufacturing units subjected to a maximum of 50 lakh rupees.
  • Green Manufacturing–Incentive Scheme: TDAF seeks to facilitate resource conservation activities in industries located in National Investment and Manufacturing Zone (NIMZ).
  • In this regard, financial support for under incentive or subsidy schemes will be provided for construction of green buildings, energy or water audits and implementation of waste treatment facilities.

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Union Cabinet gives nod to India-Taipei MoU on MSME

The Union Cabinet has approved the MoU between the Taipei Economic and Cultural Center (TECC) in India and India-Taipei Association (ITA) in Taipei.

Decision in this regard was taken at Union Cabinet Meeting chaired by Prime Minister Narendra Modi in New Delhi.

Key facts of MoU

  • Promote the cooperation between the Micro, Small & Medium Enterprises (MSME) between the two signatory parties.
  • Provide a structured framework and favourable environment to the MSME sector of the two parties in order to understand each other’s strengths, technologies, policies, markets etc.
  • Contains an agreement to enable their respective MSMEs to participate in each other’s trade fairs and exhibitions in order to exchange business delegations with the other Party.
  • It does not contain any financial, legal or political commitment on the part of either signatory party.

Background

In the era of globalization and liberalization, maintain and increasing MSME share in the total export in GDP of the country is a big challenge as this sector has registered consistently higher growth rate. This sector also has shown admirable innovativeness and adaptability to survive the recent economic crisis with its agility and dynamism.

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MIDC inks MoU with SIDBI to raise Rs 200-crore fund for MSMEs

Maharashtra Industrial Development Corporation (MIDC) has inked memorandum of understanding (MoU) with state-run Small Industries Development Bank of India (SIDBI) to provide easy finance to micro, small and medium enterprises (MSMEs) for their growth.

The MoU was signed Ananta P Sarma, MD and CEO of SIDBI and MIDC CEO Bhushan Gagrani in the presence of Maharashtra Chief Minister Devendra Fadanvis in Nashik, Maharashtra.

As per the MoU, both signatory parties have jointly created funds to the tune of 200 crore rupees to provide immediate finance to the MSMEs.

Of the total amount, the MIDC has contributed 75 crore rupees, while SIDBI has provided the remaining 125 crore rupees.

This jointly created fund will provide easy loan to MSMEs for their expansion, product development and other business purposes.  The rate of interest at which this easy finance will be provided to the MSMEs has not been decided yet.

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