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SIDBI joins hands with Gujarat Govt for MSME ecosystem Development

Updated: Sep 16, 2020 05:43:53am
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SIDBI joins hands with Gujarat Govt for MSME ecosystem Development

Ahmedabad, 16 Sept (KNN) Small Industries Development Bank of India (SIDBI), the principal financial institution for Micro, Small and Medium Enterprises (MSME) has signed a Memorandum of Understanding (MoU) with the Government of Gujarat to develop the MSME ecosystem in the State. The MoU was signed in the presence of the Hon’ble Chief Minister of Gujarat Shri Vijay Rupani, Shri M. K. Das, IAS, Additional Chief Secretary (Industries & Mines), Government of Gujarat (GoG) and Shri V. Satya Venkata Rao, Deputy Managing Director, SIDBI.
 
According to the agreement, a Project Management Unit (PMU) will be deployed by SIDBI with Government of Gujarat. The role of the PMU will be to design training and capacity building programs, which may be taken up by GoG, 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. The PMU will facilitate interventions, initiatives, projects etc. in the State targeted towards MSMEs in the State and shall suggest modifications, if any, with the objective of enhancing efficacy and removal of bottlenecks.
 
V. Satya Venkata Rao said, “In line with our programmatic approach to foster closer cooperation with State government, we started with cluster outreach programs at 10 States in the last financial year. We have also proposed a cluster development fund for supporting the infrastructural aspects of cluster development in States as preparation for AatmaNirbharBharat. The setting up of PMU in 11 States is targeted at placing expert outsourced team for more focused engagement in various forms leading to a stronger MSME ecosystem. Already we have signed MoU with Haryana, Maharashtra and Rajasthan.  We have been active on financial and non-financial fronts in the State of Gujarat and look forward to deeper and fruitful engagement.”
 
This developmental initiative is aligned to expectations laid down in UK Sinha Committee on MSMEs set up by the Reserve Bank of India. It envisions more focused engagement of SIDBI with State Governments for MSME promotion & development. The PMU will also prepare the process for handholding MSMEs in the State for their onboarding onto digital platforms, stock exchange listing, e-commerce platforms such as Government e-Marketplace etc. Along with that, the PMU will also engage in mapping repository of good practices and guidelines both within and outside the State and facilitate adoption of good practices. It will create a framework for evaluating impact of interventions being made for the benefit of MSMEs and shall also provide inputs for policy advocacy.

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