23 Nov 2023 Technology Development Board (TDB)
This article covers “Daily Current Affairs” and the topic details “ Technology Development Board (TDB):”. This topic has relevance in the Science & Technology section of the UPSC CSE exam.
GS 3: Science & Technology
Why in the news?
In a recent initiative aimed at strengthening the Micro, Small, and Medium Enterprise (MSME) sector in India, the Technology Development Board (TDB) and the Small Industries Development Bank of India (SIDBI) have entered into a formal Memorandum of Understanding (MoU).
About:
- In a significant move to bolster the Micro, Small, and Medium Enterprise (MSME) sector in India, the Technology Development Board (TDB) and the Small Industries Development Bank of India (SIDBI) have formalized a Memorandum of Understanding (MoU).
Technology Development Board (TDB):
- Established under the Technology Development Board Act, 1995, the TDB is a statutory body.
- Mission: Promotion of indigenous technology development, commercialization, and adaptation of imported technology for broader applications.
- Composition: Consists of 11 Board members.
- Functionality: Provides equity capital or loans to industrial concerns and extends financial assistance to research and development institutions.
- Funding Source: Receives grants from the Indian government, sourced from cess collections under the Research and Development Cess Act, 1986 (amended in 1995).
Small Industries Development Bank of India (SIDBI):
- Established in 1990 under an Act of Parliament, SIDBI is the Principal Financial Institution dedicated to promoting, financing, and developing the MSME sector.
- Objective: Extending both direct and indirect loans to MSMEs to address developmental and financial gaps within the MSME ecosystem.
- Role: Coordinates functions among various institutions engaged in similar activities, aiding MSMEs in acquiring funds for market growth, technology development, and commercialization of innovative products.
- Administrative Responsibility: Manages the Small Industries Development Fund and National Equity Fund.
Collaborative Efforts:
- The MoU formalizes collaborative efforts between TDB and SIDBI to enhance support for MSMEs.
- Focus areas include technology development, commercialization, and addressing financial needs crucial for MSME growth.
Q1 Regarding the Technology Development Board (TDB) recently seen in the news, consider the following statements:
- The TDB is a statutory body established under the Technology Development Board Act, 1995.
- The mission of the TDB is primarily development, commercialization, and the adaptation of imported technology for broader applications.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Download Yojna daily current affairs eng med 23rd November 2023
ANSWER: A
Q.2 Discuss the role and significance of the Technology Development Board (TDB) in promoting indigenous technology development and supporting the Micro, Small, and Medium Enterprise (MSME) sector in India. Assess the potential impact of such collaborations on technological innovation and financial support for the growth of MSMEs.
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