Digitising and Automating the MSME Sector: Narayan Rane Updated Rajya Sabha

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The Standing Finance Committee has approved the MSME Champions Scheme with a total outlay of Rs. 273.24 Cr. As part of this Scheme, a ‘Digital MSME’ component has been included for the digital empowerment of MSMEs in the country. In addition to this, there are several Technology Centres under the Ministry are also assisting on technological and automation interventions along with training support. In regard to international trade digitization of local enterprises, the Standing Finance Committee has approved the International Cooperation Scheme comprising of First Time Exporters and Global Marketing Intelligence System with a total outlay of Rs. 90 Cr. This information was given by the Minister for Micro, Small and Medium Enterprises Shri Narayan Rane in a written reply to Rajya Sabha.

The Ministry is operating two schemes for setting up business incubators in educational

institutes to facilitate innovation. These are the “Support for Entrepreneurial and Managerial Development of MSMEs through Incubators Scheme” and ASPIRE (A Scheme for Promotion of Innovation, Rural Industry & Entrepreneurship) Scheme.

The Government is taking necessary steps through the Digital MSME Scheme, with the

following objectives:

  1. To empower & enable MSMEs to harness IT as a medium of communication to revamp access to the markets to update their managerial and technical knowledge through online content–both static and dynamic.
  1. To give them software interventions, evolving their internal efficiencies by way of intense ICT intake and automating procedure for cost reduction, imparting digital literacy and capacity enhancement for information access, processing, collaboration and dissemination.
  • III. To offer to the MSMEs a safe and sound bouquet of customized digital solutions which have been designed keeping in mind the diverse requirements of the eco-system, saving them from the travails of indiscreet and indiscriminate adoption of technology.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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