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SIDBI to develop MSME ecosystem in Gujarat

by BQ News Bureau
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The Small Industries Development Bank of India (SIDBI) has entered a Memorandum of Understanding (MoU) with the Government of Gujarat to develop MSME ecosystem in the state.

Under the agreement, a Project Management Unit (PMU) will be deployed by SIDBI with the government. The role of the PMU will be to design training and capacity building programmes, which may be taken up by GoG, in areas such as technology transfer, promotion of innovation, intellectual property rights, research and development, leveraging of technology, technology solutions for enhancing business capabilities and collaborations between MSMEs and technology-driven businesses and startups. The PMU will facilitate interventions, initiatives, projects etc. in the State targeted towards MSMEs and suggest modifications, if any, with the objective of enhancing efficacy and removal of bottlenecks.

Satya Venkata Rao, Deputy Managing Director of SIDBI, said, “In line with our programmatic approach to foster closer cooperation with State governments, we started with cluster outreach programmes in 10 States last year. We have also proposed a cluster development fund for supporting infrastructural aspects of cluster development in States. 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.”


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