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MSME ministry to support local manufacturing of toys, BFSI News, ET BFSI

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Trichy: Aimed at encouraging production of toys locally, the development institute of Micro, Small and Medium Enterprises (MSME-DI) has reached out to the MSMEs associations in Trichy with financial and technical support. Under the design scheme, the interested MSMEs will be guided to master additive manufacturing (production using 3D printers) and reverse-engineering practices to design and produce even complex toys.

As constraints in designing and mass production of components were cited as the disadvantages of MSMEs in manufacturing toys, the Union MSME ministry has formulated the design scheme to offer expert advice and cost-effective solutions. Under the scheme, the National Institute of Technology (NIT) across the country will serve as the implementing agency and will offer technical support for the MSMEs to produce toys on a large-scale. “Subsidy for technical and machinery upgradation for producing toys will be provided by the Union ministry. NIT-Trichy will serve as the implementing agency to support local MSMEs,” S Dharmaselvan, joint director, MSME DI, said.

Cuddalore, Thanjavur, Coimbatore, Dharmapuri and Krishnagiri districts that already have toy manufacturing units can focus on the design scheme, while districts such as Trichy that have a robust MSME presence has opportunities for the existing MSMEs to diversify their presence using technical support from the educational institutes in the region.

“Prospects are high for the Trichy-based MSMEs to manufacture toys made of metal and plastic materials. We are planning a series of sensitisation drives involving the MSME department to encourage the MSMEs to make toys,” N Kanagasabapathy, chairman, Trichy Trade Centre, said. The local production of toys will also reduce the cost of the products that are being imported so far. Toy tricycle has been identified as one of the viable products to design and fabricate in Trichy. The price of locally made toys will be 40%-50% lower than the imported toys, MSMEs said.

The micro and small industries can avail 60% to 70% of the design intervention cost as subsidy. Financial support will be paid in three different stages till successful completion of the design.



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Jitendra Singh, BFSI News, ET BFSI

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NEW DELHI: Supported by competitive and cutting-edge technology, the Micro, Small, and Medium Enterprises (MSME) will be the foundation for bigger industries in India, Union Minister Jitendra Singh said on Thursday.

“New business enterprises are heavily dependent on scientific technology and for the industry and also the big and small enterprises to realise their optimum utilisation in contemporary India, not only scientific applications but also scientific temper and scientific attitude will be essential for success,” he said in his keynote address at the 7th India International MSME Expo Summits 2021 here, according to an official statement.

He also asked the scientific community to share successful R&D outcomes with the industries and corporate houses.

Noting that MSME Ministry has set a target to enhance its contribution to GDP up to 50 per cent by 2025 as India becomes a $5 trillion economy, he said: “With around 36.1 million units, MSMEs contribute around 6.11 per cent of the manufacturing GDP and 24.63 per cent of the GDP from service activities. Moreover, it is the second largest employment generating sector after agriculture as it provides employment to around 120 million persons in India.”

With low investment requirements, operational flexibility, and the capacity to develop appropriate indigenous technology, small and medium enterprises have the power to propel India to new heights, he said.

Referring to the huge unexplored business opportunities in bamboo sector, the Minister said that Prime Minister Narendra Modi‘s decision to exempt home-grown bamboo from the purview of the Indian Forest Act has helped in bringing ease of doing business in the sector for the young entrepreneurs.

He said that the increase in import duty on bamboo sticks/agarbatti from 10 per cent to 25 per cent, has given a huge boost to domestic Agarbatti manufacturing as nearly 5-6,000 crore Agarbattis were imported every year from countries like South Korea, Vietnam, and China. “But there has been no import of raw batti since September 2019 and local bamboo produce is being used for this,” he added.

The Minister said many agri start-ups, through suitable use of science and technology, are not only providing lucrative livelihood for themselves but also for their peers. On the call given by Modi for doubling the farmer’s income by 2022, he said that the focus of agricultural and allied sectors, and researchers “should be on productivity rather than production”.



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