Govt to Boost MSME Sector with Targeted Tech Adoption & Institutional Revamp

New Delhi, Feb 7 (KNN) In a bid to make India’s Micro, Small, and Medium Enterprises (MSME) sector globally competitive, the government is set to roll out targeted interventions aimed at enhancing technology adoption.

Additionally, the office of the Development Commissioner (DC), MSME’s apex body, will undergo a comprehensive restructuring to strengthen its role in policy facilitation, financing, raw material procurement, and product marketing.

According to a senior government official, think tank Niti Aayog plans to commission a research study to assess the significant challenges facing MSMEs.

The study will propose key structural changes in DC MSME, focusing on improving monitoring and evaluation metrics to ensure better governance and impact assessment.

MSMEs contribute nearly 41 per cent to India’s total manufacturing Gross Value Added (GVA), underscoring their importance in the economy.

The government recognises the immense potential of small and medium enterprises to integrate into both domestic and global value chains and aims to introduce key infrastructural reforms to enhance technology penetration in the sector.

A framework will be developed to create a robust technology-sharing ecosystem for MSMEs, with collaboration from key stakeholders, including the government and private sector.

Additionally, successful open-source technology models from other countries will be studied for possible adaptation in India.

The revamp of DC MSME is seen as a crucial step in aligning the institution with the evolving needs of the sector. The restructuring will include a detailed analysis of India’s MSME landscape, benchmarking it against global trends to identify best practices for technology adoption.

The study will also map the concentration of MSMEs across various industries and evaluate India’s technology facilitation mechanisms against global standards.

With these reforms, the government aims to strengthen MSMEs, making them more resilient and competitive in an increasingly technology-driven market.

(KNN Bureau)