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Wednesday, February 21, 2024

MSME State Profile: SIDBI facilitates MSME development in states

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The Small Industries Development Bank of India (SIDBI), which is a principal financial institution engaged in the promotion, financing and development of Micro, Small and Medium Enterprises (MSMEs) has been working closely with state governments to strengthen MSME eco-system at the state level, based, inter alia, on recommendation of the UK Sinha Committee report.

SIDBI has extended technical assistance to 19 states by setting up Project Management Units (PMUs). These PMUs have been working closely with nodal departments of the states to facilitate the shaping of enterprise/industrial policies and also to adopt good practices in other states.

Under the SIDBI Cluster Development Fund, concessional loan support to state governments for the development of infrastructure in clusters is provided. In few of the states, going beyond hard infrastructure, SIDBI has also extended soft infrastructure support in few clusters. SIDBI has been proactively engaging with state governments to avail this and build/enhance MSME infrastructure. As part of development initiative, SIDBI also organised a national sharing and learn shop for state stakeholders, which had evinced appreciative participation.

SIDBI brought out state profiles in respect of enterprise/industrial policies and good practices adopted in other states through the Project Management Units (PMUs) of 16 States viz. Andhra Pradesh, Assam, Delhi, Gujarat, Haryana, Karnataka, Maharashtra, Rajasthan, Tamil Nadu, Uttarakhand, Uttar Pradesh, Telangana, J&K, West Bengal, Odisha and Bihar.  SIDBI has, for the first time, come out with the MSME State Profiles of 16 States, which was launched on September 12, 2022. These State Profiles are to be provided to state governments for them to take advantage of the profiles and spread the best practices followed for the benefit of MSME in their respective states.

CMD SIDBI stated that the objective of the MSME State Profile is to understand the existing practices and initiatives about the MSME ecosystem in the states across India. The reports contain the brief industry profile of the state, cluster development initiatives, supporting agencies, state promoted schemes, policies, and partnership with the Government of India, in twinning various schemes. The report also captured the best practices that are being implementing in the other states and suggested measures to create more conducive environment to develop start-up entrepreneurs and strengthen existing MSMEs.

Sonakshi Datta
Sonakshi Datta
Journalist who wants to cover the truth which others look the other way from.

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