government initiatives to promote enterpreneurship

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Government initiatives to promote enterpreneurship, details on policy

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  • 1. Government Initiatives topromote EntrepreneurshipARUSHI GAIROLAJOYITA DEYSUMEDHA RAMANAN

2. Introduction It is a known fact that India, today, is an emergingeconomy. However, for India, to acquire the status of a"developed" nation, statistics point out that it needsto create 100 million jobs. The last 3 decades have brought about changes in thegovernments thinking leaning towards a marketoriented economy. Various support mechanisms have been designed bythe government to nurture the entrepreneurialmindset. 3. MSMED Act, 2006 To boost the services and manufacturing sectors, the Govt. of India chalked out aseparate SMSE department so that these industries could receive sufficientattention and support. The MSMED Act was passed in 2006 which aims at: Providing guidelines for skill development of employees, management andentrepreneurs Issue guidelines from time-to-time for ease of credit to MSMEs Work on minimisation of sick units and enhance their competitiveness throughvarious support mechanisms Preference policy for procurement of goods or services by Central Govt.produced or provided by MSMEs. Resolution of delayed payment relatedissues 4. The Ministry of Micro, Small and Medium Enterprises (MSME) ahs been initiating and implementing severalschemes which the MSMEs can take benefit of in order to boost their business. Some these schemes include:Scheme of Surveys, Studies and Policy ResearchEntrepreneurship Development Institution SchemeScheme of Fund for Regeneration of Traditional Industries (SFURTI)Rajiv Gandhi Udyami Mitra Yojana (RGUMY)Marketing Assistance Scheme (Implemented through NSIC)Performance and Credit Rating Scheme (Implemented through NSIC)Prime Minister's Employment Generation Programme (PMEGP) (Implemented through KVIC)Product Development, Design Intervention and Packaging (PRODIP) (Implemented through KVIC)Khadi Karigar Janashree Bima Yojana for Khadi Artisans (Implemented through KVIC)Interest Subsidy Eligibility Certification (ISEC). 5. National Entrepreneurship Institutes National Institute for Entrepreneurship and Small Business Development (NIESBUD), NOIDA National Institute of Micro, Small and Medium Enterprises (NIMSME), Hyderabad(Formerly National Institute of Small Industry Extension Training (NISIET)) Indian Institute of Entrepreneurship (IIE), GuwahatiOthers National Small Industries Corporation MSME Development Institutes Tool Rooms Central Footwear Training Centres, Agra & Chennai Fragrance and Flavour Development Centre, Kannauj Process-cum-Product Development Centre, Agra Electronics Service & Training Centre, Ram Nagar Institute for Design of Electrical Measuring Instruments, Mumbai 6. National Science and TechnologyEntrepreneurship Board National Science and Technology Entrepreneurship Board promotesentrepreneurship development through Science & Technology. This program has encouraged researchers and academicians in thefield of Science & Technology to take interest in socially relevantentrepreneurial roles. Under the flagship of NSTEB, various institutes and trainingprogrammes have been formulated. Technological Business Incubators have been established to ensurethat technology and knowledge driven enterprises are establishedand research outputs are utilised in a commercial manner forbenefit of all stakeholders. 7. NMCP Schemes to EnhanceCompetitiveness of SMEsNational Competitiveness Programme wasformulated in 2005 with an objective to supportthe Small and Medium Enterprises (SMEs) in theirendeavor to become competitive and adjust thecompetitive pressure caused by liberalization andmoderation of tariff rates 8. SIDBI SIDBI was established in April 1990 under an Act ofParliament as a wholly-owned subsidiary of IndustrialDevelopment Bank of India (IDBI). It is the principal financialinstitution for the following three-fold activities:- Financing the small scale sector by providing indirectassistance to primary lending institutions (PLIs) and directassistance to small scale units.- Development and support services for promoting smallindustries.- Liaisoning with other institutions engaged in similaractivities. 9. Entrepreneurship Development Institute ofIndia The Entrepreneurship Development Institute ofIndia (EDI), an autonomous and not-for-profit institute, setup in 1983, is sponsored by the IDBI Bank Ltd., IFCILtd., ICICI Bank Ltd. and State Bank of India (SBI). The government of Gujarat pledged twenty-three acres of landon which stands the EDI campus. EDI has helped set up twelve state-levelexclusive entrepreneurship development centres andinstitutes. Entrepreneurship has been taken to schools, colleges, scienceand technology institutions and management schools in thewater performance sector by including entrepreneurship intheir curricula. 10. STEP Science and Technology Entrepreneurs Park aims toprovide link between universities, academic and R&D institutions,provide R&D support to the small-scale industry and promotesinnovation based enterprises IEDC Innovation and Entrepreneurship Development Cell ispromoted in educational institutes to create entrepreneurial cultureand encourage innovation amongst students EDP Entrepreneurship Development Program, a training programof 6-8 weeks duration aims to train students in various aspects ofstarting an enterprise 11. FDP Faculty Development Program is aimed attraining faculty members of S&T institutions so thatthey in turn can inspire students to take upentrepreneurial career options TEDP Technology-based EntrepreneurshipDevelopment Program is 6-weeks duration trainingdeveloped jointly in association with R&Dinstitutions, CSIR labs etc. This training focuses onspecific products and technologies. 12. OLPE Open Learning Program in Entrepreneurship is a distancelearning programme that helps potential entrepreneurs throughstudy materials and contact programmes which impart knowledgeon end-to-end processes involved in running anentrepreneurship EAC Entrepreneurship Awareness Camp is a 3 days durationtraining that exposes students to entrepreneurship as a careeroption STEDS Science and Technology Entrepreneurship DevelopmentScheme aims at socio-economic development of an area byoptimising the usage of natural & human resources of an area. 13. Business Portal of India For dissemination of information, the BusinessPortal of India has been developed under theNational e-Governance Plan of the govt. inassociation with FICCI. The portal provides various modules and sub-moduleswith respect to starting & running businessin India. It also provides guidance on the paperworkrequired, taxation related information, trade relatedpolicies etc. 14. Efforts by State GovernmentsEntrepreneurship is also promoted at the stategovernment level through various schemes and subsidiesvarying from one state to another, the commonmechanisms are: Infrastructural: development and management ofindustrial estates, priority in allotment of power/waterconnection, power subsidies Financial : Capital investment subsidies for new units setup in a particular district, seed capital /Margin MoneyAssistance Scheme Guidance: Consultancy and technical support 15. National Competitiveness Programme National Competitiveness Programme wasformulated in 2005 with an objective to support theSmall and Medium Enterprises (SMEs) in theirendeavor to become competitive and adjust thecompetitive pressure caused by liberalization andmoderation of tariff rates 16. Udayami Helpline Call centre 'Udyami Helpline' will provide all the relevantinformation and details to the interested entrepreneursregarding the scope of the business operations they maywant to venture into, loan facilities, governmentschemes and other modalities of setting small units. It aims to serve the needs of the entrepreneurs who faceproblems on a wide range of issues which include - creditavailability, technology, marketing, various MSMEschemes and other important subjects through a singlepoint facility. The services are available on this number between 6 amin the morning to 10 pm in the night everyday allthroughout the year including Sundays and holidays. 17. IPR Facilitation Center Apex industry chamber, FICCI, launched an IPRfacilitation centre at Federation House (FICCI), NewDelhi, in association with the ministry of Micro-Small and Medium Enterprises (MSME). The FICCI-IPR facilitation centre is equipped to offerquality services in all areas of Intellectual PropertyRights 18. National Strategy for Manufacturing The Union Government has decided to implement a National Strategy forManufacturing, drawn up by the National Manufacturing Competitiveness Council(NMCC), which will enable SMEs to achieve competitiveness. The Strategy has identified various priority areas for action viz., textiles & garments,food processing, IT hardware & electronics, leather & footwear, automobiles & auto-componentsand chemicals & petrochemicals and pharma sectors. The Cluster Concept clearly seems to be India's answer to global competition. Lastyear the government had proposed to increase financial assistance to existingclusters of Micro, Small and Medium Enterprises (MSME) up to as high as 80 percent of their financial requirements under the 11th Plan. The government also proposes to build a pool of consultants under its NationalManufacturing Competitiveness Programme to enable MSMEs to becomecompetitive. The consultants would be deployed to a cluster of 8-10 companies forabout one year to a year-and-a-half, with their cost being borne by the government. 19. Thank You!