GoI forms five task forces to revive MSME sector

On September 23, 2020, the Government of India formed five task forces in five different key areas to boost the MSME sector in the country. The task forces will make the micro, small and medium enterprises (MSME) future ready. It will create concrete strategies in making the country a lead exporter.

About the Task Force

The Task Forces are to work for a month and have been created under different ministries.

• One of the key areas identified is Industry 4.0 that includes elements such as virtual reality, 3D. Also, the task forces will work in making India a global leader of Industry 4.0.
• The second is Export Promotion and Import Reduction. This will focus on key manufacturing areas and will improve quality standards, designs, packaging and technology.
• The third is re-engineering. This is to be done horizontally and vertically in the existing cluster schemes. This will help assist micro level enterprises and grass root level enterprises.
• Fourth Task Force has been created on Integrating technology Centres
• The fifth task force will work on exploring intervention and align several modernisation schemes such as LEAN, ZED (Zero Defect and Zero Effect). Also, it will focus on other schemes related to intellectual property rights and design.

Recent other Task Forces

The Government of India has recently set up the following task forces to revive India Economy

• In August 2020, a task force was formed under NITI Aayog’s Dr V K Paul to oversee all the aspects of COVID-19 vaccine plan. This task force works on every aspect starting from identification of a vaccine, purchase, distribute and administer.
• In June 2020, Jaya Jaitly Task Force was constituted to evaluate issues related to Sex Ratio at birth, Infant Mortality Rate, Maternal Mortality Rate and Child Sex Ratio. It was set up by Ministry of Women and Child Development.
• In March 2020, the Department of Science and Technology set up a task force to map technologies by start ups on COVID-19. The task force was provided with the responsibility of identifying such new and developing technologies so that they can be brought to the market soon through GoI funding.

Month: Current Affairs - September, 2020