Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Industry News

| More

SIDBI joins hands with Government of Gujarat for the Development of MSME ecosystem in the State

Posted On: 2020-09-15 05:19:58 (Time Zone: Arizona, USA)


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 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, Small Industries Development Bank of India (SIDBI).

Under the agreement, a Project Management Unit (PMU) will be deployed by SIDBI with Government of Gujarat.The role of the PMU will be todesign 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.

RAOOn this occasion, Shri V. Satya Venkata Rao, Deputy Managing Director of SIDBI 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 formsleading 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.

SIDBI has appointed an expert agency for setting up PMUs in 11 States namely, Assam, New Delhi, Haryana, Rajasthan, Uttar Pradesh, Uttarakhand, Gujarat, Maharashtra, Karnataka, Andhra Pradesh and Tamil Nadu. By acting as harbinger amongst partner States, SIDBI intends to contribute to emergence of more responsive ecosystem which is Vocal for Local and strengthens nation's resolve to emerge as AtmaNirbhar Bharat.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

Aluminium Industry reiterates urgency for 5% RoDTEP rate for economic sustainability

Cold chain logistics expected to grow by over 20% CAGR by 2025: JLL

Emerging trends in the consumer durables industry in the 'new normal' - Parag Kulkarni, MD, A. O. Smith India

Five Years of RERA have been transformational for the Realty Industry

Fino Payments Bank goes live with enhanced deposit limit of ₹2 lakh

Ageas Federal Life Insurance launches Saral Pension

Manipal Hosptials completes the acquisition of 100% stake in Columbia Asia Hospitals in India

Leading EV manufacturer Komaki Creates New Battery Technology that boasts of a blistering 220+ km range

Government of Odisha approves 9 new industrial projects worth INR 2570.54 Crore at the 100th SLSWCA meet

SIAM hosts 12th Lecture Series on Hybrid and Electric Vehicles in India: Development, Testing & Homologation

Top 5 Startups Fueling Innovative Financial Inclusion Solutions in India

Tech Trends that will Rule the Gaming Industry in 2021

LIC's Branding Rights of Andheri Metro Station, campaign executed by Times OOH

Bharat Biotech to expand COVAXIN® capacity to support vaccination campaigns in India and Worldwide

Lowering age to 18 yrs for vaccination, decisive step to restore confidence, says ASSOCHAM

Home Credit Partners with SEWA Bharat to restore livelihoods of nano entrepreneurs

Ascendas India Trust secures maiden S$100 million sustainability-linked loan from UOB

Noida International Airport begins the pre-qualification process for airport development and construction tender

Fractional ownership providing boost to Commercial Real Estate

Bharti AXA Life Insurance establishes bancassurance partnership with Fincare Small Finance Bank

NCR witness 111% jump in new launches

Pitstop raises USD 3.5 million in pre-series B funding led by Ventureast

CPAI urges Maharashtra govt to classify stock broking under essential services amid new COVID-19 curbs

BYJU'S to acquire Aakash Educational Services Limited through a strategic merger

Shriram Life Insurance introduces settlement of claims within 12 hours

Ascendas India Trust to invest in a forward purchase acquisition of 1.65 million square feet of an IT Park at Hebbal, Bangalore

JICA signs loan agreement for JPY 10 billion with TCCL for Climate Change Management Project in India

Arcil appoints Mr. Pallav Mohapatra as Chief Executive Officer & Managing Director

Home Credit strengthens its Insurance Portfolio

Yamuna International Airport's proposed term loans rated at 'Provisional IND A-'/Stable by India Ratings

MoU Signing for the Integrated Steel Complex by ArcelorMittal Nippon Steel India at Kendrapara held

SVC Bank bags 'Best Co-op Bank in India 2020' Award at World Leadership Awards

To cash in on retail rush, brokerages shower freebies on investors

SIDBI and NSE joins hands for co-operation in various MSME related initiatives

Honda posts robust 31% growth with 4 lac+ domestic sales in Feb'21

Hyundai Motor India registers cumulative sales of 61,800 Units in Feb'21

SIDBI joins hands with Government of Andhra Pradesh for the Development of MSME ecosystem in the State

Bauxite Average Sale Price (ASP) needs correction for Indian Aluminium to be competitive

Fino Payments Bank is now a scheduled bank

UST Acquires ServiceNow Business from abhra, Inc.

First batch of Sputnik V vaccine delivered to Mexico

Fino Payments Bank to on board 10000 women from SHGs as banking agents in Uttar Pradesh

Liberty General Insurance Rolls Out AI-based Automated Car Inspections

Ageas Federal Life Insurance launches its Life Advantage Plus Plan

Star Health Insurance partners with PhonePe to offer Digital Health Insurance

Universal Sompo General Insurance Company Limited ties up with Saptagiri Grameena Bank

SIDBI partners with Confederation of Women Entrepreneurs to give fillip to Stand-Up India Scheme

Tata Housing launches 'The Grand Indian Home Festival'

LANXESS increases prices for engineering plastics

AMP Capital establishes energy transmission platform in India with Sterlite Power


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020