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UP MSME dept. to sign MOU with NIFT, SIDBI & IIP to promote ODOP

Updated: Aug 27, 2020 09:01:36am

UP MSME dept. to sign MOU with NIFT, SIDBI & IIP to promote ODOP

Lucknow, Aug 27 (KNN) In a bid to promote One District-One Product (ODOP) on an international platform, the state Micro, Small and Medium Enterprises (MSME) department will sign an MOU with National Institute of Fashion Technology (NIFT), Indian Institute of Packaging (IIP) and Small Industries Development Bank of India (SIDBI).

Speaking on the same, state MSME minister Siddharth Nath Singh the agreement with NIFT and IIP would improve the design and packaging of ODOP products, besides promoting the Local-Vocal campaign while SIDBI will help entrepreneurs under ODOP meet the challenge of working capital.

Singh also said the NIFT would provide better designs to the textile, leather and carpet industries besides conducting training workshops for artisans.

''NIFT would develop a design bank for ODOP products, through which entrepreneurs get raw material, fabrics and colours as per the demand of the foreign market. NIFT will help in branding and promoting the ODOP products,'' he added.

The minister said IIP will also identify ODOP clusters in the state.

He also said that under the agreement with SIDBI, entrepreneurs will get equity infusions, rebate in interest on loans and other financial support.

''A digital platform will be created for MSME under which they can get loans approved in just 59 minutes,'' he said.


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