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Last updated: 21 Nov, 2023  

Mining.9.Thmb.jpg New scheme for mining sector MSMEs, startups

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IANS | 21 Nov, 2023

With the aim of pushing new age technology innovation in the sector, the Ministry of Mines last week announced the launch of a new programme─ Promotion of Research and Innovation in Start-ups and MSMEs (S&T-PRISM). This is, no doubt, a welcome step, which is expected to address the long-standing gap in terms of research and innovation within startups and MSMEs operating in the mining, mineral processing, metallurgy, and recycling sector.

Under this initiative, which will be implemented by the Jawaharlal Nehru Aluminium Research Development and Design Centre, proposals will be invited from startups, MSMEs and individual innovators for up to two years duration and a dedicated team will provide mentorship or incubation support and technical advisory support during entire project development period. Support will be provided additionally for two years from the date of technical completion.

A strong science and technology base is a must for mining research and development. The ministry has long been funding mining research activities, but the new initiative focusses on providing support to MSMEs and startups, and this should benefit the sector. The objective behind the scheme ─ translation of research into technology, with investigations leading to new product/process ready for demonstration or pilot scale deployment ─ also sounds interesting.

Meanwhile, the Chief Economic Advisor last week rightly said that Indian startups will play a key role in transforming India into the third largest economy in the world. He pointed out that the startup landscape of the country has witnessed an exceptional transformation, making it the third largest ecosystem globally. This achievement is worth celebrating, but to ensure that this journey continues, continuous efforts must always be carried out.

I invite your opinions.

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