Traditional Knowledge System - A Key to MSMEs Growth after COVID-19

Abstract

Traditional Knowledge (TK) is an existing form of facts that is established, using perpetually besides transfer for time to time. Habitually developing of cultural or spiritual identity is a part and parcel. The knowledge which is bounded as a traditional knowledge that has earliest heritages, it was not protected by conventional intellectual property protection systems but it was oral and informal. There is increasing recognition that traditional knowledge and habitual sustainable use to support local communities’ for building the instant modification which contribute directly to different diversification, and global sustainable development. Traditional Knowledge has the prospective of actuality changed into marketable chance and leads for product development and process. Global economy also appreciated traditional knowledge, important for various MSMEs in greater sense and protection of traditional knowledge is important for conservation and sustainable development of the. There is a necessity to focus. For sustainable development and to face challenge traditional knowledge system search for alternative solutions. To bring into the main platform in the International Intellectual Property System documentation of traditional knowledge thereby bringing the protection of traditional knowledge India has played a very significant role in the documentation process. Treating TK as a commercial growth, MSMEs can undergo with innovation and skill enhancement for sustainable growth in India. This paper showcases the positive side of implementation or usage of traditional knowledge for marketable determination will enhance the growth of MSMEs and leads to holistic development. Admits the threat of COVID-19 creates hot pan of problems and crisis. This COVID-19 has no precedent in human kinds recorded history records were found. The 207 countries are affected from the COVID-19. The increasing number of COVID-19 cases has formed a lot of complications and uncertainties day by day especially for a developing country like INDIA.