Technology Centres Likely to Get Bank Loans For Upgradation to Serve MSMEs

With Ministry of MSME's recommendation, Government of India is considering to provide loans to technology centres so that they may upgrade themselves with machinery and technology, said Union Minister of Micro, Small and Medium Enterprises (MSMEs) Shri Nitin J. Gadkari.

While inaugurating technology centre set up at Bhiwadi in Alwar district of Rajasthan via video conferencing, Gadkari said, "TCs can work as a catalyst in the area and we are thinking of providing loans to TCs so that they may buy new machinery and new technology to cater to the needs of local industries."

He said that manufacturing sector contributes around 22 to 24 per cent in the GDP of the country and in wake of 'Atmanirbharat Bharat’ call of the Prime Minister, he informed that we are making 15 new Technology Centres (TCs) and upgrading 18 existing TCs to create skilled man forces, adding that killed manpower is a must to make our country a manufacturing hub.

The Minister also said that work on extension centres is also going on for these TCs. He appealed to state governments to provide land and other logistic support for these extension centres.

"These extension centre can fulfil the needs of new and existing industries of the area," he said.

He suggested that the infrastructure of existing Polytechnique’s, ITI’s, Engineering Colleges should be utilized for skilling the youth and support of industries can also be taken.

Pratap Chandra Sarangi, Minister of State for MSME congratulated the people of Bhiwadi & Rajasthan for technology centre and expressed hope that it will prove to be a milestone for development of the area.

''Country is facing economic crisis these days due to COVID-19 pandemic and these centres are of utmost importance as they will help in increasing production, reducing unemployment and fulfil the dream of a self-reliant country,'' he said.

He also appealed to the youth of the country to improve their skills, make themselves industry ready and respond to the call of ‘Atmanirbhar Bharat’ given by the Prime Minister.