India to have 500 Incubation Centers for Skilled Professionals & Entrepreneurs

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Government of India has planned to set up 500 incubation centres to create more skilled professionals and entrepreneurs with an investment of Rs 200 crore on private-public partnership model across the country in the next one year.

This was announced by Union Minister of State for Micro, Small and Medium Enterprises, Giriraj Singh during the inauguration of International Machine Tools and industrial Trade fair – INTEC 2015 at Codissia trade fair complex in Coimabatore.

The minister said initially, Rs 200 will be allotted for setting up the incubation centres in all districts.

“Though 65 per cent of the Indian population is below 35 years of age, only two per cent of them are skilled. These incubation centres will provide technical knowledge to them to make them skilled professionals or entrepreneurs,” he said.

Singh informed that the Centre also planned to 15 more new tool rooms with 3D technology that will provide hands-on training for workers by next year.

Considering the fluctuation in inflation and hurdles being faced by the MSME sector, the minister said that he had placed a bill in Parliament to increase the limits in three slabs from Rs 25 lakh to Rs 50 lakh, Rs 5 crore to Rs 10 crore and Rs 10 crore to Rs 30 crore.

As part of financial inclusion, Government has set up ‘Mudra Bank’ to support micro and small units in three levels and efforts are on to simplify or relax various rules, which are hurdles in the growth of the sector, he said.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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