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VSU signs MoU with Millennium University
The Vikrama Simhapuri University (VSU) and Malawi based Millennium University have entered into a Memorandum of Understanding (MoU) for student and faculty exchange, and support for research activities
Nellore: The Vikrama Simhapuri University (VSU) and Malawi based Millennium University have entered into a Memorandum of Understanding (MoU) for student and faculty exchange, and support for research activities.
Vice-Chancellor (V-C) of Millennium University Prof P Subba Rao and Academic Director Prof Friday Anderson Jumbe and Registrar of VSU Prof Ande Prasad exchanged the MoU at a programme in the city on Friday. Both varsities have also jointly initiated 3-day international seminar on 'Impact of Globalisation on MSMEs-Prospects, Challenges and Policy Implications'.
Prof P Subba Rao, V-C of Millennium University, who attended the seminar said that the Micro, Small and Medium Enterprises (MSMEs) are in fourth generation of industrial revolution adopting technologies such as automation, data exchange, cloud computing, cyber physical systems, drone technology, artificial intelligence and Internet of Things (IoT).
Prof P Subba Rao also said that living standards, HR mobility, e-business, e-service, e-logistics are some of the advantages of globalisation giving positive opportunities to MSMEs. Prof K Rama Mohan Rao, Principal of Andhra University (AU) College informed that Government of India has designed various schemes to strengthen the MSMEs. Prof R Sudarsana Rao, V-C of the VSU, said that MSMEs have been creating huge employment to the people.
'Recession and Demonetisation are the two big obstacles between 2008 and 2016 adversely affecting growth of the MSMEs and some of them have already closed the shops. The V-C said the researchers and people, who present papers need to suggest mechanisms for strengthening the MSMEs. MSMEs need to be linked to the skill development programmes being organised by the State government, Prof Sudarsana Rao added.
He also urged the researchers to deliberate upon why the MSMEs are contributing as low as 8 per cent of GDP to Indian Economy though they are contributing to the total manufacturing output, employment and exports substantially. CEO of Krishnapatnam Port Anil Yendluri said that job creation is very important in densely populated countries such as India. "MSME is the labour-intensive sector which creates jobs five times when compared to large scale industries.
40 per cent of job creation in India is from MSMEs and around 5 crore families are depending on the sector. Lack of employability skill and risk bearing capacity are the major challenges of the sector for competing globally," said Anil. Principal Prof KVSN Jawhar Babu presided over the seminar, Convener Prof Suja S Nair, Executive Council members, researchers, and scholars were present.
