'Innovation, technology key drivers for MSME growth'

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SME Times News Bureau | 28 Dec, 2012
Innovation, IPR, technology and finance are the key drivers for the growth of Micro, Small and Medium Enterprises (MSMEs), industry body Confederation of Indian Industry (CII) said Thursday.

"Innovation & Technology is the key driver for the growth of MSME's. An increasing share of the market value of young and innovative MSMEs appears to be derived in many cases from their intellectual assets," said Piyush Shah, Chairman, CII Gujarat State Council & Managing Director, Hitachi Hi-Rel Power Electronics Pvt. Ltd. in his welcome speech in Ahmedabad.

He said, "In today's competitive market the use and protection of these intellectual assets is therefore one of the key elements that make the difference between the success and impending failure of the business."

In his theme address, Chairman & Managing Director, Sai InfoSystem (India) Ltd., Sunil Kakkad said, "Innovation is different from Invention and plays a key role in the growth of MSME. ICT plays an important role in the Innovation. Automation and Robotics also ensure the Innovation."

While talked about various benefits and schemes run by the Government of India for the Growth of MSMEs. Director, MSME – Development Institute, Ministry of MSME, Arvind Patwari said, "There needs to be a paradigm shift in the thought process of the MSME."

He also informed the delegates on the support being provided to MSME for IPR & Design. He also informed of the 4 Incubation centers that are set up for the benefit of the MSME in Gujarat.

Ravi Saxena, IAS, Additional Chief Secretary, Department of Science & Technology, Government of Gujarat in his Keynote address said, "The biggest issue the Industry is facing is of the outflow of Intellectuals & IP from the country."

He emphasized on the need of a live connect between the Industry & the Academic Institutes.

Taking a cue form the Taiwan & Korea he suggested the MSME Clusters need to be in the proximity of the Academic Institutions, thereby the MSMEs can share their practical experience to the students and benefit in the process by having properly oriented students joining the Industry.

He also spoke on the banks being wary of the SSI & MSME for funding them.

He added that the Country's GDP remains low because of the low filing of IPR & hence a more conscious effort need to be put to create awareness among the Industry towards IPR & manufacturing high value Products & Services.