Peenya to get CoE for AI, Robotics, Innovation to boost MSMEs: Karandlaje

The Union government is in the process of setting up a Center of Excellence for AI, Robotics and Innovation in Bengaluru’s Peenya Industrial Area to support the growth and development of micro, small and medium enterprises (MSMEs) in Karnataka and across the country, said Shobha Karandlaje, Minister of State for MSME.

The Minister was speaking at the awards ceremony of the Global MSME Conclave organized by FKCCI, themed “The $10 Trillion Journey: From Local Determination to Global Realisation”, at the Palace Grounds on Saturday.

Emphasizing the importance of MSMEs in India’s development, the Minister said that the sector provides employment to approximately 33 million people and contributes approximately 30 percent to the country’s Gross Domestic Product (GDP).

Ms. Karandlaje added that around Rs 30,000 crore has been provided as subsidy under the Prime Minister’s Employment Generation Program to promote entrepreneurship.

Key challenges faced by MSMEs

According to Ms. Karandlaje, skilled workforce, technology, access to finance and market are some of the key challenges faced by MSMEs. Highlighting the need for modernization, he urged industries to adopt artificial intelligence, robotics and digital technologies to increase competitiveness.

The Minister also emphasized the importance of talented youth, bankers’ trust in entrepreneurs, advanced technology and effective marketing. “We are now competing with the world. Products produced by micro and SMEs need to reach global markets,” he said.

Speaking at the Conclave, FKCCI president Uma Reddy said that MSMEs play an important role in employment generation and innovation. Urging the central government to formulate a separate policy for micro and small enterprises, he said they constitute 97% of the MSME ecosystem. Highlighting the challenges related to technology, finance, markets and policy support, Ms. Karandlaje said the meeting aims to help MSMEs grow and achieve global competitiveness.

The awards were presented under different categories such as Women Entrepreneurs, Continuity of Legacy, Social Impact and Digital Breakthrough. The three-day meeting will end on Sunday.