MoMSME planning to establish dedicated institute for MSMEs?

New Delhi, June 23 (KNN) Media reports are doing round that the Ministry of Micro, Small and Medium Enterprise (MoMSME) has proposed an idea to establish an institute with the help of Ministry of Human Resource Development (HRD).

The institute will run all professional courses on the lines of Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs).

For this, 31 acre land has already reportedly been identified in Hyderabad.

The idea is to establish a centre of learning that can generate employment opportunities for students in the MSME sector.

Courses like Mechatronics, 3D printing, reverse engineering, simulation and more such courses will be developed for the institute.

As per the guidelines finalised for the institution, it will work on market-need based research, consultancy and commercial purposes and the revenue generated from the institution will be used for further development purposes of the institute. Similar institutes have been functional abroad in countries like China, Germany and Sweden, the media report said.

The ministry of MSME has suggested three models in which the institute can be run-- as a Central University or as an Institute of National Importance under an Act of Parliament, established as a "deemed-to-be" university under section 3 of the UGC Act and establishment of the proposed institute as a standalone institute in the domain of management education under the aegis of a registered society or as a registered trust.

The ministry also proposes taking seeking AICTE recognition as a standalone management institute for enabling it to award Postgraduate Diploma in Enterprise Management.