Centre plans 500 incubation centres to skill professionalsCoimbatore: The Centre plans to set up 500 incubation centres on PPP model across the country in the next one year to create more skilled professionals, Minister of State for Micro, Small and Medium Enterprises
Coimbatore: The Centre plans to set up 500 incubation centres on PPP model across the country in the next one year to create more skilled professionals, Minister of State for Micro, Small and Medium Enterprises (MSME) Giriraj Singh said here today.
"Though 65 per cent of the Indian population is below 35 years of age, only two per cent of them are skilled. These incubation centres will provide technical knowledge to them to make them skilled professionals or entrepreneurs," he told reporters here.
These centres would be on the PPP model and initially Rs 200 crore would be allotted for setting them up, particularly in districts, he said.
He added that the Government wants to make the MSME sector competitive through technological innovation.
The government also plans to add 15 more tool rooms to the existing 18 by next year, Singh, who was here to inaugurate the five-day 16th edition of International Machine Tools and industrial Trade fair -INTEC 2015, said.
He said considering the fluctuation in inflation and hurdles being faced by the MSME sector, he had placed a bill in Parliament to increase the limits in three slabs from Rs 25 lakh to Rs 50 lakh, Rs 5 crore to Rs 10 crore and Rs 10 crore to Rs 30 crore.
But opposition parties are opposed to the Bill, which had been referred to Parliamentary Standing Committee, he said.
"However, we are committed to improve the condition of the MSME sector, which has 40 per cent share of industrial production in India, and take suggestions from opposing parties and also representatives of the industry to see the Bill through," he said.
While large industries with Rs 11 lakh crore investment provides employment to 1.25 crore people, the 5.77 lakh crore MSME sector units give employment to over 14 crore persons, he said.
As part of financial inclusion, Government has set up 'Mudra Bank' to support micro and small units in three levels and efforts are on to simplify or relax various rules, which are hurdles in the growth of the sector, he said.