Setting up of Industry Accelerator by PSG College of Technology, Coimbatore

Setting up of Industry Accelerator by PSG College of Technology, Coimbatore

Name of the Scheme: 1770 - Enhancement of Competitiveness in the Indian Capital Goods Sector - Phase II Sanction Letter No. & Date: 12/20/2022-HE&MT, Dt: 21.03.2023 Name of the Central Nodal Agency (CNA): Central Manufacturing Technology Institute (CMTI ) Bank A/c No. : ZBSA - State Bank of India A/c No. 41287615387 Setting up of "Industry Accelerator at PSG College of Technology for Development of 8 Technologies Financial Status of MHI Grant Project commencement date : 11.07.2023 Project Total Fund : Rs. 27.74 Cr. (MHI: Rs.22.46 Cr, IP: Rs.5.28 Cr) First year Grant from MHI : Rs. 8.225 Cr. (Received on 11.07.2023) Actual receipt Rs.7,528 Cr. Spent as on date : Rs. 6.086 Cr. 81% Committed as on date : Rs. 1.309 Cr. 17% Unspent amount : Rs. 0.133 Cr. 2% Financial Status of IP Grant First year Grant from IP : Rs. 3.200 Cr Spent as on date : Rs. 0.295 Cr. Committed as on date : Rs. 0.099 Cr. Unspent amount : Rs. 1.913 Cr.

Financial Progress
MHI Cost (INR)
22.46 Cr.
Industry Cost (INR)
5.28 Cr.
Project Cost (INR)
27.74 Cr.
Brief

PSG-MHI Industry Accelerator Project Chronological Milestones Overview: The PSG-MHI Industry Accelerator Project (IAP) is being implemented under the “Scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector Phase II,” notified by the Department of Heavy Industry (DHI), Ministry of Heavy Industries (MHI), Government of India. The project commenced at PSG College of Technology, Coimbatore in April 2023. The project aims to accelerate the development of eight new technologies for the capital goods sector. Technologies under the Project: Technology-I: Development of Robotic Controller for Welding Applications Technology-II: Design and Development of Technology for Precision High Power Density Servomotors and Servo Amplifiers Technology-III: Development of Open-Source CNC System for Special Purpose Machines Technology-IV: Development of IoT System for Totally Integrated Automation Technology-V: Design and Development of Special Purpose Welding Machine for Energy Efficient Induction Motor Technology-VI: Design and Development of Indigenous Hybrid Additive and Subtractive Machine Technology-VII: Design and Development of Functional Coatings and Repair Techniques for Industrial Components through Laser Metal Deposition Technology-VIII: Manufacture of Industrial Components by Selective Laser Melting using Machine Learning Approach Key Milestones: February 2022: Proposal submitted to MHI for the Industry Accelerator Project under the “Scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector Phase II” based on the MHI Notification dated 25th January 2022. May 26, 2022: Screening committee meeting held at the Ministry of Heavy Industries to review and recommend the project for consideration in the Apex Committee. July 1, 2022: Apex Committee meeting held to review ongoing projects and consider new proposals under the scheme. The proposed projects were presented for consideration. August 3, 2022: In-principle approval granted for setting up the Industry Accelerator Project at PSG College of Technology, Coimbatore, with a total project cost of Rs. 27.74 Crore. The grant from MHI was Rs. 22.46 Crore, and Rs. 5.28 Crore was contributed by Industry Partners. August 4, 2022: Acceptance letter from PSG College of Technology confirming their participation in the project. August 2022: Technical Committee members were nominated by MHI: Chairperson: Dr. V. Radhakrishnan, Former Director, IIST, Thiruvananthapuram & Retd. Professor, IIT Madras. Technical Experts: Mr. Chandrasekhar Sharma, Retd. VP Kenna Metal; Mr. S. Satish Kumar, Senior Advisor, Indian Machine Tool Manufacturers’ Association. Financial Expert: Mr. CMC S. Sundaravinayagam, Retd. Joint Registrar IIT Madras. Scientist: Dr. Bhavya Manjeera, NRDC. MHI Director: Mr. Vikash Dogra. Member Secretary: Dr. K. Prakasan, Principal, PSG College of Technology. 2022: Principal Investigators (PIs) and co-Principal Investigators (Co-PIs) were identified and assigned their roles. Memorandum of Understanding (MoU) prepared with the concurrence and support of the Project Review and Monitoring Committee (PRMC), Chairperson, Members, and Industry Partners. It included details on project ownership, financial contributions, milestones, and technology requirements. November 19, 2022: PSG College of Technology opened a Zero Balance Account in SBI as per MHI norms. Rs. 27.5 lakhs deposited into the Zero Balance Account by Industry Partners. November 10, 2022: Technical Committee meeting held, with the minutes enclosed in Annexure III. March 15, 2023: MoU signed for the PSG-MHI Industry Accelerator Project. April 1, 2023: Official initiation of the project. December 2022 - March 2023: Recruitment activities for project manpower began. Manpower recruitment was approved on March 23, 2023, with interviews held on May 30, 2023. June 26, 2023: Project members and administrative staff began work on the project. July 11, 2023: Grant-in-Aid of Rs. 8.22 Crores for the Financial Year 2023-2024 received for the 8 technologies under the project. August 4, 2023: PRMC-1 meeting held. Current Status (March 2025): As of the latest update, 22 out of 27 project members have been recruited and are actively working on the project.