Govt to lease MSME technology centres to IITs, engineering colleges: Nitin Gadkari

In its zest to encourage research and innovation, the MSME ministry is mulling with the idea to lease technology centres to engineering colleges, IITs, polytechnic colleges and industry associations with a good track record, Union Minister Nitin Gadkari said on Wednesday.

While delivering the keynote address at the MSME Finance Week, the minister said that micro, small and medium enterprises are the backbone of the economy and there is a need to create employment using surplus resources.

The MSME Finance Week was a virtual event organised by the Global Alliance for Mass Entrepreneurship (GAME). A key reason for most MSMEs to turn into non-performing assets (NPAs) is delayed reconciliation of their receivables and bills.

"Today, there is an import of Rs 8 lakh crore crude oil in the country. Instead, we can build Rs 2 lakh crore ethanol economy by tapping into domestic resources. The gap between India and Bharat is still wide but with our motto of reform, perform and transform, we can definitely overcome the challenges, he said.

Poiting to the fact that Rs 6,000 crore have been invested in technology centres until now, the MSME minister said, "Now we are planning to give these technology centres on a lease basis to engineering colleges, IITs, polytechnic colleges and industry associations with a good track record".