Experts Highlight Innovation as Key to MSME Survival and Nation’s Growth

Quick Summary

• A national workshop titled “Fostering Research and Innovation in MSMEs: Teh Innovation Circle Model for Transforming India into a Global Manufacturing Hub” was held at Vidyavardhaka College of Engineering (VVCE) in Mysuru.
• Organized by the Center for Knowledge Ideas and Development Studies (KInDS), Kolkata, with support from the Department of Science and Technology (DST), Government of India.
• The workshop presented the Innovation Circle (IC) Model, aimed at strengthening innovation ecosystems and boosting competitiveness within micro, small, and medium enterprises (MSMEs).
• Principal Sadashive Gowda stressed that constant innovation is vital for transforming India into a developed economy by 2047. He highlighted India’s betterment on the Global Innovation Index from 80th rank in 2014 to 39th rank by 2024 due to initiatives like Skill India and Make in India.
• Experts emphasized that innovation must occur at every level-enterprise-wide systems,structured learning,capacity building-and gain global value chain integration,citing Singapore’s success as a model example.
• Sessions covered strategies for enhancing MSME learning processes internal to firms while enabling collaboration across industry-institutes- broader purposeemis science policy…views cross learn cooperative trust-STI closes loops tech=”#schema_New”..

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