'Game changers' set to reform MSME's growth | business | Hindustan Times
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'Game changers' set to reform MSME's growth

The ministry of micro, small and medium enterprises (MSME) has proposed a dozen of innovative schemes - dubbed as 'game changers'- in a bid to give a push to entrepreneurship. Debobrat Ghose reports. All set to play

business Updated: Sep 26, 2011 22:34 IST
Debobrat Ghose

The ministry of micro, small and medium enterprises (MSME) has proposed a dozen of innovative schemes - dubbed as 'game changers'- in a bid to give a push to entrepreneurship.

The MSME ministry has sought more than Rs 10,000 crore of allocation for these 12 'game changers' schemes in the 12th Five Year Plan (2012-17).

"The aim is to facilitate start-ups venturing into bio-technology, nano-technology, defence & homeland security, food processing and pharma through a dedicated cell," Uday Kumar Varma, secretary, MSME, told HT.

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The schemes include operationalisation of SME exchange, technology acquisition, setting up of modular industrial estates, virtual SME university, setting up of 100 tool rooms and 100 testing centres across the country, global branding of heritage products, application of information & communication technology (ICT) and restructuring of operations.

The government is pinning its hope on these schemes to revolutionise growth in the MSME sector that employs more than 60 million people.

"We've got in principal approval from SEBI on SME exchange and this will help the sector in a big way,"said Varma.

The ministry has emphasized on ICT application to bring transparency to implementation of schemes and keep a track on progress.

"This move, if fructifies, will be of great help to small entrepreneurs from tier-II and III cities," said Shalabh Sharma, vice president, Federation of Madhya Pradesh Chambers of Commerce & Industry.