MSME Current Affairs

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Samsung Signs MoU with Ministry of Micro, Small and Medium Enterprises (MSME) to Set Up 2 more Tech Schools

Samsung India has signed a memorandum of understanding (MoU) with the Ministry of Micro, Small and Medium Enterprises (MSME) for setting up two new Samsung Technical Schools in Bengaluru and Jamshedpur as well as to renew the partnership for 10 existing schools being run across the country.

Salient Highlights

As a part of Samsung’s commitment to government’s Beti Bachao, Beti Padhao campaign, the company has announced the MSME-Samsung Technical School Scholarship programme for girls and differently-abled trainees. Under this Programme, 1,000 girls and differently-abled trainees will be given a grant of up to Rs. 20,000. Also, a Meritorious Reward Programme for toppers has also been launched. The toppers among Samsung Technical School students will also be rewarded Rs 20,000.

Samsung already runs 10 schools in the Sates of Rajasthan, Kerala, Bihar, Delhi and West Bengal. These schools are run in collaboration with Departments of Technical Education.

Samsung is a South Korean multinational conglomerate headquartered in Seoul. Samsung was founded in 1938 by Lee Byung-Chul. The group has diversified into areas including electronics, heavy industries, food processing, textiles, insurance, securities, retail, construction, ship building among others.

Month: Categories: India Current Affairs 2018


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.

Month: Categories: India Current Affairs 2018