CICU Organised Awareness Session on Technology Acquisition & Development Fund

Ludhiana, February 2, 2016: Chamber of Industrial and Commercial Undertakings (CICU), Ludhiana today organised awareness session on technology acquisition & development fund. Sh.Avtar Singh, President CICU said that the purpose of this session is to make its members aware of benefits available to all existing and new Micro Small & Medium Enterprises under schemes of TADF. There is an impelling need to create effective environment to enable MSMEs to partner with global business to evolve innovative clean/green/energy efficient technologies to catalyze the manufacturing growth which will contribute to the national focus of “Make in India”.

Sh. Upkar Singh Ahuja, General Secretary said that CICU has taken initiative to popularize TADF Scheme in Punjab which is being implemented on large scale in South India. This scheme is a transformational mechanism for MSMEs to acquire technology/customize products/specialized services/patents/ industrial design available in the market with requisite level of proof from individuals, organizations located in India or anywhere else across the Globe.

This session was conducted by Sh. Vidhu Jhanb, Deputy Director, Strategic Business Development, New Delhi. He informed that TADF Scheme is technically and administratively managed by Global Innovation & Technology Alliance (GITA) jointly promoted by Technology Development Board, Department of Science & Technology, Govt. of India and Confederation of Indian Industry. The main highlights and benefits under TADF are as under.

?  Direct Technology Acquisition for which reimbursement of 50% of Technology Transfer Fee or Rs. 20 Lakhs whichever is lower.

?  Indirect Technology Acquisition with subsidy of 50% of mutually agreed value or Rs. 20 Lakhs whichever is lower.

?  Subsidy for Manufacturing Equipment/Technology with subsidy of up to 10% of Capital Expenditure incurred on new Plant and Machinery subject to maximum of Rs. 50 Lakhs.

?  Companies must be incorporated in India and should be classified under MSME category as defined by Govt. of India (including Proprietorship, Partnership, LLP, Pvt Ltd, Ltd.) with at least 51% stake should be held by India Citizen.

?  The applicant either should have acquired competence in the field or already being involved in production, fabrication and manufacturing process using the technology, process or similar line of activities.

The participants had a lively interaction and their questions were responded by the expert to the highest intellectual satisfaction.  More than 60 participants attended this session. This session was attended by more than 60 key industrialists namely  Sh. H.S. Pahwa, Sh. Vinod Thapar, Sh. Gaurav Sehgal, Sh. Charanjeev Singh,  Sh. Ashwin Nagpal, Sh. Sanjay Dhiman, Sh. Kanish Kaura, Sh. Pankaj Sharma, Sh. S.S. Bedi and others.