Who: Union Government and NTC
What: Signed MoU
When: 8 December 2015
Why: To develop Technology Centre
The Union Ministry of Textiles, Union Ministry of Micro, Small & Medium Enterprises (MSME) and National Textile Corporation (NTC) on 8 December 2015 signed Memorandum of Understanding (MoU) to set up a Technology Centre (Tool Room) at Kanpur.
Highlights of the MoU
• Under the MoU, Ministry of MSME will fund the project, while NTC will provide the land in a closed unviable mill.
• Management will be through a Governing Council where Development Commissioner of MSME will be Chairman and Ministry of Textiles representative will be the co-chairman.
• The Ministry of Textiles will skill the youth in textile sector, thus, providing requisite skilled manpower to the textile industry.
• The Centre will provide support in manufacturing of quality tools that will improve productivity of MSMEs and enable them to become competitive in national and international markets.
• It will also provide trained manpower and consultancy in related areas.