Chennai, Nov 25 (KNN) Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing and development of Micro, Small and Medium Enterprises (MSME), has entered a Memorandum of Understanding (MoU) with TamilNadu government to develop the MSME ecosystem in the state.

The MoU was signed by Anu George, IAS, Industries Commissioner and Director of Industries and Commerce, and Chitra Kartik Alai, Regional Head, SIDBI, Chennai in the presence of the Chief Minister of Tamilnadu, Thiru Edappadi K. Palaniswami & Thiru P Benjamin, and Minister for MSME.

''Under the MoU, SIDBI shall deploy a Project Management Unit (PMU) in Tamilnadu. The role of the PMU will be to design training and capacity building programs, which may be taken up by the state government in areas such as technology transfer, promotion of innovation, intellectual property rights, research & development, leveraging of technology / technology solutions for enhancing business capabilities and collaborations between MSMEs & technology driven businesses / startups, etc,'' SIDBI said in a statement on Tuesday.

The PMU will facilitate interventions, initiatives, projects etc. for MSMEs in the state with the objective of enhancing efficacy and removal of bottlenecks.

“In line with UK Sinha Committee recommendations SIDBI has adopted a programmatic approach to foster closer cooperation with the state government. SIDBI has signed MoU with seven states and 4 more are planned in near future. The setting up of PMU with an expert team aims at bringing a focused engagement in various forms leading to a stronger Atmanirbhar state and country. The PMU is expected to bring a deeper engagement in financial and non-financial fronts in the State of Tamilnadu. SIDBI is also structuring a cluster development fund for supporting the infrastructural aspects of cluster development in States,” said V Satya Venkata Rao, Deputy Managing Director, SIDBI.

With its continuous endeavour, SIDBI has so far entered into7 MoUs with different states. Yesterday MoU was signed with the Uttrakhand Government in presence of Chief Minister of Uttrakhand, Trivendra Singh Rawat, Manoj Mittal, Deputy Managing Director, SIDBI and other dignitaries.

A policy paper for the medical devices sector was also released for targeted thrust at state enterprises.

''In 5 partner states, PMUs have since been set up. They have commenced mapping of the gaps, match these with good practices in other states and also evolve as facilitators of development & strengthening of the MSME eco system. They shall support onboarding onto digital platforms, stock exchange listing, e-commerce platforms such as Government e-Marketplace etc,'' SIDBI added.