India’s MSMEs can explore NITI Aayog’s technology resources to drive growth

NITI Aayog's technology resources can be leveraged by India's MSME sector to drive growth.

Can MSMEs ride growth on technology resources shared by the state-owned policy think-tank NITI Aayog to drive its growth, Prity Syal, director of the NITI Aayog thinks so. 

“NITI Aayog has developed concept of shared technology resources to facilitate MSMEs access cutting edge technologies such as 3D printing and artificial intelligence,” she said speaking at webinar on `Building a resilient MSME sector for the new normal’ organized jointly by World Trade Center Mumbai and All India Association of Industries (AIAI).

She explained that NITI Aayog is also planning to set up a Digital Capability Center, which will showcase advanced technologies and emerging innovations, to transform the country’s manufacturing sector in this era of fourth industrial revolution. 

A state-owned banker in the panel also pointed out that the collaboration between banks and fintechs is lessening the credit gap in the MSME segment. 

Disbursement post digital appraisal without human intervention is the way forward in times to come for SME lending, the banker said.

Vijay Kalantri, Chairman, MVIRDC World Trade Center, Mumbai – a trade facilitating body called upon the need to implement all recommendations by the earlier committees for the MSME sector headed by Prabhat Kumar, S.L Kapoor, P.J. Naik, and UK Sinha and suggested SIDBI to be converted into a full-fledged bank to address the concerns of low credit flow to the sector.