Tech News Summary:
- The Minister for Cooperatives and SMEs in Indonesia, Teten Masduki, has urged MSMEs to embrace high technology to expand their export market and follow the national industrialization policy.
- The World Bank has suggested that Indonesia create good-quality jobs as salaries provided by micro-enterprises can only help meet daily needs whereas companies themselves are not connected to supply chains.
- To address these challenges, Masduki asked regional leaders to select MSMEs with potential for development and help them with appropriate technology so that they can make their production more efficient.
In a recent address, the Minister of Micro, Small and Medium Enterprises (MSMEs) emphasized the need for these businesses to embrace high-tech solutions in order to expand their export market. The minister highlighted the importance of digitalization and automation in staying competitive in the global market.
The minister pointed out that while MSMEs contribute significantly to India’s economy, their export potential is limited by outdated technologies and lack of automation in production processes. With the emergence of new technologies, MSMEs must adapt to stay relevant and attract buyers from around the world.
“MSMEs have to embrace high-tech solutions in every aspect of their business, from production to marketing. With the right use of technology, they can improve productivity, reduce costs, and increase efficiency, which will help them expand their export market,” said the minister.
The minister also stressed the need for MSMEs to collaborate with technology providers, startups, and research organizations to gain access to the latest technologies and innovations. “Collaboration is key to unlocking the potential of MSMEs in the global market. We need to create an ecosystem where innovation and technology can flourish, and MSMEs can benefit from them,” added the minister.
The government has launched various initiatives, including the Technology Acquisition and Development Fund (TADF), to support MSMEs in adopting new technologies. The minister urged MSMEs to take advantage of such schemes and invest in high-tech solutions to improve their competitiveness in the global market.
In conclusion, the minister’s call for MSMEs to embrace high-tech solutions highlights the importance of digitalization and automation in staying competitive in the global market. With government support and collaboration with technology providers, MSMEs can unlock their export potential and contribute even more to India’s economy.