JOIN USIn an effort to assist people employed in the Micro, Small and Medium Enterprises (MSME) sector in the State, the Centre has planned to set up a tool room and technology development centre in Bangalore.
According to Union Minister of State (Independent Charge — MSME) K H Muniyappa the tool room would be set up in the technology park coming up near Bengaluru International Airport (BIA) in Devanahalli.
People aspiring to enter MSMEs and those who are already employed in the field, would be provided training about new equipment and state-of-the-art technology which can increase productivity in their respective areas of interest.
The technology centre would be one among the 15 such centres to be established in different parts of the country as per the Union Budget provisions, he added.
The minister said the centre was expected to start functioning in the next three months and will offer initially ten courses for the aspirants. The course period would range from three months to three years and every course can accommodate 100 students.
Tool rooms across the country would also be provided with Rs 2,200 crore financial assistance from the World Bank. The State government has already given 150 acre of land to set up the centre along with an investment of Rs 150 crore, he added.
Muniyappa expressed happiness about Union Budget giving special attention to the MSME sector. The budget has proposed to make available non-tax benefits to MSME units for three years after it graduates to a higher category. Small Industries Bank of India (SIDBI), an organisation associated with the MSME industry, plays a vital role in the development of MSME sector.
The proposal of the finance minister to enhance the refinancing capacity of SIDBI by doubling the current level from Rs 5,000 to Rs 10,000 crore per year will provide greater support to MSMEs, he added.