Current Affairs PDF Sales

Government constitutes Five Ministerial Task Forces to make Indian MSMEs future-ready

AffairsCloud YouTube Channel - Click Here

Govt-forms-five-task-forces-to-make-Indian-MSMEs-future-ready-SecyOn September 24, 2020 Government constituted Five Ministerial Task Forces to make India’s Micro, Small, and Medium Enterprises better equipped for future and formulating strategies to make India a leading exporter

A K Sharma, Secretary of Ministry of Micro, Small, Medium Enterprises announced it during a virtual session, organised by Federation of Indian Chambers of Commerce and Industry (FICCI).

Objective:

The main objective is to make India a global manufacturing hub and a leading exporter in the world.

Key Points:

The Five Task Forces would work on Five key Areas for one month, which are vital areas for Future development of industry in the country. 

i.The First Area is Industry 4.0, which includes elements like Artificial Intelligence, 3D and virtual reality. The Task Force has been formed with the objective of making India Global Leader in Industry 4.0. 

ii.Second Area is Export Promotion and Import Reduction. It focuses on key manufacturing areas, improving quality standards, designs and technology, packaging.

iii.The Third Area is re-engineering existing cluster schemes, which will assist the grass-root,  micro-level enterprises and high-end enterprises. 

iv.The Fourth Area will integrate technology centres. 

v.The Fifth Area will explore interventions to align it with modernisation schemes like ZED (zero defect and zero effect) and LEAN (for manufacturing competitiveness), and other schemes related to design, intellectual property rights and marketing schemes.

Recent Related News:

i.On 24 June 2020, Nitin Gadkari (Minister of Micro Small and Medium Enterprises) launched the Credit Guarantee Scheme for Sub-ordinate debt(CGSSD) which is also called the “Distressed Assets Fund–Sub-ordinate Debt for MSMEs” to provide Rs 20000 crore guarantee cover to two lakh MSMEs.

About Ministry of Micro, Small and Medium Enterprises (MSME):
Union Minister – Nitin Gadkari
Minister of State  (MoS) – Pratap Chandra Sarangi