New fund to help acquire clean, green technology

The government on Thursday launched a fund under the National Manufacturing Policy to bolster the acquisition of clean, green and energy-efficient technologies, an official here said.

Being implemented by the Department of Industrial Policy & Promotion (DIPP), the Technology Acquisition and Development Fund (TADF) will empower Micro, Small & Medium Enterprises (MSMEs) to acquire technology, customised products, specialised services, patents and industrial designs available in India and globally.

"TADF would facilitate acquisition of clean and green technologies by micro, small and medium units across the sectors and thus bridge the technological gap at an affordable cost," Minister of State for Commerce and Industry Nirmala Sitharaman said while launching the fund at a function here.

Aimed at propelling manufacturing growth in MSMEs with a focus on 'Make in India' programme, TADF will be implemented through Global Innovation and Technology Alliance (GITA), said an official statement.

GITA is joint venture company which envisages supporting MSMEs through the following four programmes: Direct Support for Technology Acquisition, Indirect Support for Technology Acquisition through Patent Pool, Technology/ Equipment Manufacturing Subsidies and Green Manufacturing - Incentive Scheme.

Reimbursement of 50 percent fee for technology transfer below Rs.20 lakh, financial support for acquiring technology/patents from across the globe, subsidies for manufacturing pollution controlling, energy consumption reducing and water conservation equipment, among others, are some of the benefits of the new endeavour.