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Union minister Nitin Gadkari launches ‘MSME Bank of Ideas, Innovation and Research’ portal

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On April 30, 2020, Union Minister of Road transport & Highways and MSME (Ministry of Micro Small & Medium Enterprises) Shri Nitin Jairam Gadkari has launched ‘MSME Bank of Ideas, Innovation and Research’ portal ( through Video Conference from Nagpur, Maharashtra.
He also launched ‘Ayush Entrepreneurship Development Program’ jointly organized by the Ministry of AYUSH & Ministry of MSME for promoting the AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy) sector in India.Nitin Gadkari launches MSME Bank of SchemesKey Points:

i.About the portal:

  • Users will have to register in this portal, where they can upload ideas and innovations regarding the micro, small and medium enterprises (MSME) sector.
  • Within 5-6 Minutes, one can easily file their ideas among the areas (Credit/Finance, Human Capital Development, Technology, Infrastructure, Marketing, Policy, etc).The officer concerned will review it and make it public later.
  • Users can raise money (crowd funding) from venture capitalists (investors investing capital in new ventures) or people for their ideas or schemes. Apart from this, it will help produce goods locally imported from China.

ii.Benefits: This move will help MSMEs to adopt a culture of innovation in view of the challenges of the world like coronavirus. It will also support Make in India initiative of the central Government.

iii.According to Gadkari, the ministry has sent recommendations to the Prime Minister and Finance Minister for the ‘package’ regarding the relief from Coronavirus (COVID-19).

About Ministry of MSME (Ministry of Micro Small & Medium Enterprises):
– New Delhi
Minister of State (MoS)– Pratap Chandra Sarangi