KCTU announces incentives for MSMEs in Karnataka, aims at tech upgradation

New Delhi, July 18 (KNN) Eyeing at enabling the Micro, Small and Medium Enterprises (MSMEs) with appropriate technological upgradation, the Karnataka Council for Technological Upgradation (KCTU) has rolled out a set of incentives for the MSMEs under the Karnataka Industrial Policy.

The scheme includes incentive of 25 per cent up to 50,000 rupees for adopting technology. Also for the special focus category including women, SC/ST, minorities, physically challenged and ex-servicemen entrepreneurs, 50 per cent incentive up to 1 lakh rupees is earmarked for upgrading technology.

Also MSMEs can avail an incentive up to 75 per cent on obtaining ISO series certification.

The scheme further provides incentive for obtaining BIS product certification of 50 per cent of the fee paid to the BIS and 25 per cent of the cost for purchase of testing equipment.

KCTU is also providing assistance for establishing technology business incubators by bearing 25 per cent of the project cost to an extent of 50 lakh rupees. For the special focus categories the amount is up to 75 lakh rupees.

Focussing on energy conservation, KCTU has earmarked special incentives and subsidies for the MSMEs.

Also incentives are being given for adopting water harvesting and conservation measures. Under the scheme, incentive up to 50 per cent of the cost of equipment is being provided to promote the practice of rainwater harvesting.

KCTU is inviting MSMEs as well as the industry bodies in the region to apply and avail the incentives being offered by the council.

Karnataka Council for Technological Upgradation is a joint venture of Government of India, Government of Karnataka and Industry associations of Karnataka. The Council was established to enhance the competitive status of MSMEs of Karnataka by enabling technological upgradation of the enterprises. (KNN/ DA)