Indore, Dec 14 (KNN) The small scale industries are unable to develop new technologies for their businesses because of reasons such as lack of capital, said Association of Industries, Madhya Pradesh (AIMP).
 
“There are many industries that are trying to develop newer technology for their businesses but due to lack of capital, industrialists are not able to grow in the sector,” AIMP President OP Dhoot said recently while addressing an interactive session organized to make small and medium scale industries acquainted with the new policies of SIDBI.
 
Organised by Association of Industries, Madhya Pradesh (AIMP), the session was aimed at making industrialists aware about the provisions provided by SIDBI. "For the expansion of small scale units, we have been working and we are trying to make newer provisions that would be helpful for units," he added.
 
 “At present, we need to focus on utilizing the opportunity for creating a better future. Small scale units are the future and will solve employment problem that our nation is witnessing,” he added
 
At present, almost 1.80 crore individuals are employed by the small scale industries, which is serving as a biggest job creator source," the Chief General Manager of SIDBI, Kartik Alai said.
 
"Small scale industries contribute almost 36% in import and a significant 40% in refurbished goods," said Alai.

Indore has almost 1,300 small scale industrial units spread on Sanwer road industrial area, Pologround industrial area, Laxmibai Nagar, Rau.
 
SIDBI Venture Capital Limited has allotted Rs 200 crore for the growth and development of small scale industries. (KNN Bureau)