New Delhi, Feb 29 (KNN) In a significant partnership, the Indian Institute of Technology (IIT) Madras has inaugurated a Centre for Tech Excellence with support from Walmart, aimed at serving Micro, Small and Medium Enterprises (MSMEs).

The primary objective of this centre is to provide comprehensive training to MSME units in the swift and effective utilisation of Artificial Intelligence (AI) and Internet of Things (IoT) technology to enhance their business operations.

A formal agreement to this effect was formally signed on Wednesday.

V. Kamakoti, Institute Director, IIT Madras, emphasised the pivotal role of MSMEs in comprising 30m per cent of India's industrial sector and stressed their need for guidance in technology deployment, particularly in alignment with Sustainable Development Goals.

The centre is poised to utilise technology to assist MSMEs in overall product evaluation, thus contributing to economic growth.

Kamakoti highlighted the scalability of this venture to cater to the diverse needs of India's vast population, encompassing various sectors such as agriculture and medicine, through a common portal.

IIT Madras has been actively focusing on MSMEs since the previous year, launching a centre in collaboration with Kotak, resulting in significant benefits for numerous MSMEs.

Kamakoti revealed that the institute's findings would be published as a report in the coming months, emphasising their commitment to empowering MSMEs through the tech centre.

Furthermore, the centre will not only provide solutions to research problems but also involve faculty from different disciplines and departments.

Suresh Kumar, Chief Technical Officer and Chief Development Officer, Walmart, highlighted the company's engagement with IIT Madras since 2022.

Over the next three years, the Institute aims to support 15-20 MSMEs in leveraging AI and IoT technology, forming case studies for the institute's future endeavours.

(KNN Bureau)