Hyderabad, Dec 28 (KNN) Ministry of Micro, Small and Medium Enterprises (MSME) Minister Kalraj Mishra said on Tuesday that R&D is the need of time and it is essential for every unit.

The Minister said this while addressing the National Conclave for Faculty Development of Technology Centre in Hyderabad.

The conclave was organized on December 27, 2016 and will end today.

Mishra was the Chief Guest at the event.

According to Anil Reddy Vennam, President, the Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI), small industries cannot afford R&D individually.

“No doubt R &D is a good process but for an individual it is not as easy to have R&D. Big industries with spending of 100 crore, can spend one crore for R&D. But for small industries with 4-5 crore, it is nearly impossible for them to spend more than rupees 50,000,” said Anil Vennam.

He recommended that there should be cluster of industries to have the R&D.

“What we suggest that a cluster of related sector MSME (like engineering or plastic industries group) tend together have this sort of R&D center. We can pull-in some amount from the entrepreneur and some amount from government from MSME,” said Vennam.

He also said that with the help of government it can be achieved. He also counted out the benefits of R&D.

“R&D helps to improve the quality standard of the product, making it more affordable for the market,” added President, FTAPCCI.

MSME Minister inaugurated the event by lighting the lamp, received warm welcome by DC MSME & DC Officials on sanction of IRDS Cader. (KNN/RAS)