Tata Technologies, a Tata Group subsidiary, has announced its plans to invest Rs 2,000 crore to establish engineering centers specifically catering to MSMEs. This investment aims to support the growth and technological advancement of MSMEs.
Commenting on this, Karnataka’s Large & Medium Industries Minister, M B Patil, said, “The company has intended to set up these centres to facilitate, particularly the MSMEs. The proposal is to set up the centres through the Public-Private Partnership (PPP) model. Tata Technologies will have 70 percent stake and the rest 30 percent stake will be that of the state government.”
Patil further added, “The government has decided to give preference to strengthening the MSME sector. Each CEF centre would require about five acres of land and a decision on providing it will be taken in the coming days.”
The decision to set up these specialized common engineering centers comes as a part of Tata Technologies’ commitment to promoting inclusive growth and to empower smaller enterprises. These common centers will offer a range of services which includes product design, engineering analysis, and manufacturing process optimization, with the help of cutting-edge tech.
Tata Technologies is looking to spread this investment across multiple locations in India. These centers will act as hubs of technical expertise, mainly enabling MSMEs to access world-class engineering talent. With the Indian government also backing the MSME sector, private firms will have more resources and support from the government in order to grow and expand more.
The engineering centers are expected to commence operations within the next two years, and Tata Technologies anticipates significant positive outcomes for both MSMEs and the Indian economy as a whole. With this bold initiative, Tata Technologies is poised to become a catalyst for the transformation of the MSME sector, propelling it into a new era of technological prowess and global competitiveness.
