The Ministry of Micro, Small and Medium Enterprises (MSME) plans to partner with Karnataka Small Scale Industries Association (Kassia) School of Business Management to offer skill development schemes and financial assistance to entrepreneurs.
Mr Virbhadra Singh, Union Minister for MSMEs, inaugurating the Kassia Business School at Kassia Udyog Bhavan, said for partnering with Kassia, he had already written to the Union Finance Minister for providing an enabling framework for equity formation.
WelcomingKassia's initiative in setting up the School of Business Management, Mr Singh said “It will go a long way in meeting the ever-increasing demand for skilled labour in the country. The traditional mindset of skill upgradation is not suited to present reality on account of globalisation, changes in technology as well as work processes.”
“It is in this context that the Kassia School of Business Management could prove to be pivotal cog in the development of entrepreneurs with strong managerial grounding. The business school can help create a vibrant entrepreneurial eco-system for start-ups and early stage enterprises which can lead to significant incremental employment,” the Minister added. Mr Singh also harped on a slew of initiatives taken by his Ministry for the development of MSME sector, such as, a public procurement policy for SMEs which mandated 20 per cent reservation for SMEs in all procurements by government departments and PSUs in addition to special 4 per cent earmarked for SC/STs; target of training 1.5 crore persons within 2022 and more than 40 lakh persons during the 12th Plan ; free training to SC/ST, women and physically challenged along with monthly stipend of Rs 500 per trainee; provision for 15 per cent capital subsidy on institutional loans up to Rs 1 crore availed by MSMEs under the Credit Linked Capital Subsidy Scheme, providing guarantee cover up to 85 per cent on collateral-free credit facility extended by lending institutions to new and existing SMEs for loans up to Rs 100 lakh.
Short, long-term courses
Mr Prakash N. Raikar, President, Kassia, said in most of the small industries in MSME sector, there was lack of professional management in terms of a core understanding of problem analysis, risk management, integrated sourcing, and opportunity scanning.
This lacuna hinders the MSMEs from competing in the global market. Kassia is now addressing this critical need with the opening of the School of Business Management (KSBM). The Kassia School of Business Management, started jointly with ICBMS Educational Trust and Info Career Private Ltd, would offer certificate, short-term and long-term courses on soft skills and other skills including English and Kannada, and also incorporate e-learning practices.