Hyderabad: NI-MSME celebrates 59th Foundation Day

Yousufguda: The National Institute for Micro, Small and Medium Enterprises (NIMSME), the pioneer entrepreneurship development institute of Ministry of MSME, celebrated its 59th Foundation Day on Thursday virtually with Prof Anil. K. Gupta, IIM, Ahmedabad (rtd.) and other dignitaries.

They included Dr. P. Chandra Shekara, director-general, MANAGE; Prof. A V Narsimha Rao, director, ICFAI Law School, Hyderabad; V Ramu Sarma, Editor, The Hans India; Abburu Venkateswara Rao, branch head, Axis Bank, Madhuranagar, S Glory Swarupa, director-general, NIMSME, faculty and staff.

Glory Swarupa also signed a memorandum of understanding (MoU) with Dr. P. Chandra Shekara, who highlighted that importance of MSMEs in the current pandemic scenario. The partnership will go a long way in helping MSMEs.

During the launch of diamond jubilee logo of the institute, Swarupa emphasised the need for "excellence" in activities by the employees, entrepreneurs and MSMEs to benefit society.

Prof Gupta gave a presentation on "A challenge-driven innovation-based entrepreneurship model". He introduced the concept of "network entrepreneurship" that focuses on the spirit of cooperation and competition simultaneously through distributed and decentralised supply chains and manufacturing. He suggested having "innovation clubs" to encourage innovations that incentivise and inspire others.

Prize winners were also announced for the quiz competition held the previouos day on "history and legacy of NIMSMS based on the coffee-table book, The NIMSME nuggets.

Ramu Sarma greeted NIMSME and highlighted the importance of MSMEs in economy. Axis Bank offered to open special salary account for the institute staff. During the day a plantation drive by the staff was organised on the NIMSME campus.