New Delhi, June 1: Prime Minister Narendra Modi on Monday launched technology platform "CHAMPIONS" - Champions.gov.in - to empower Micro, Small Medium Enterprises (MSMEs). “CHAMPIONS” stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength. The ICT-based system is set up to help the MSMEs in a present difficult situation and also to handhold them to become national and international champions. Union Transport Minister Nitin Gadkari was also present at the virtual launch. MSP for 14 Kharif Crops Hiked by 50-83%, Farm Loans' Repayment Deferred Till August 31: Union Cabinet.
PM Narendra MOdi tweeted, "Launched the portal Champions.gov.in. This is a one-stop place for Micro, Small & Medium Enterprise (MSME) sector. The focus areas are support and hand-holding, grievance redressal, harnessing entrepreneurial talent and discovering new business opportunities."
Tweet by PM Modi:
Launched the portal, https://t.co/ZdLkL1rwK5
This is a one stop place for MSME sector. The focus areas are support & hand-holding, grievance redressal, harnessing entrepreneurial talent and discovering new business opportunities. https://t.co/diLjzKeRY5pic.twitter.com/d9t8XGJcxT
— Narendra Modi (@narendramodi) June 1, 2020
The portal will focus on solving the grievances of MSMEs. It is also termed as a one-stop-shop solution of MSME Ministry. The platform will help the medium and small industries to capture new opportunities, including manufacturing of medical equipment and accessories like PPEs and masks etc, which they can supply in National and International markets. The system is reportedly enabled by Artificial Intelligence, Data Analytics and Machine Learning.
Earlier in the day, the centre approved Rs 20,000 crore subordinate debt for stressed MSMEs. According to the government, the amount approved by the cabinet will benefit two lakh stressed MSMEs. The Modi Cabinet also approved Rs 50,000 crore equity infusion through Fund of Funds for MSMEs. The decision to boost the MSME sector was taken to mitigate the economic impact of COVID-19.