Indian government launches fund for small businesses to acquire green technology
India’s Commerce ministry has launched the Technology Acquisition and Development Fund (TADF) under the National Manufacturing Policy being implemented by Department of Industrial Policy & Promotion (DIPP).
The fund will help small and medium businesses to acquire green technology at afford able rates across different sectors. Commerce and Industry Minister Nirmala Sitharaman said the fund would help business to obtain customised products, specialised services, patents and industrial design available in the Indian or global markets.
The fund will also support the manufacturing of new machinery, devices for controlling pollution, reducing energy consumption, and water conservation.
The scheme will facilitate resource conservation activities in industries located in NIMZ through the introduction of incentive schemes for energy, environmental, water audits, construction of green buildings, implementation of waste treatment facilities and implementation of renewable energy projects through financial support.