Latest News | Raj Govt to Join Hands with SIDBI to Support MSMEs

Jaipur, Aug 10 (PTI) Rajasthan government is planning to join hands with the Small Industries Development Bank of India (SIDBI) to support MSME units in the state.

Under the arrangement, the SIDBI would set up a Project Management Unit (PMU) to provide assistance to certain cluster-based sectors like textiles in Bhilwara and handicrafts in Jodhpur, a state government official said.

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In a meeting with the state government officials held on Monday, SIDBI representatives highlighted various clusters where they would like to work and how they would reach out to small entrepreneurs, using their expertise for providing consultation, appropriate solutions and guidance for availing benefits under current schemes.

“With the active participation of the consultants provided by SIDBI, the cluster level challenges of MSMEs would be easier to address and MSMEs will also be able to avail benefits under relevant schemes,” Archana Singh, Commissioner- Industries said.

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The objective is aimed at achieving a vibrant and synergised MSME (Micro, Small & Medium Enterprises) ecosystem in the state. Under this initiative, the partnering agency of SIDBI will be identifying the Institutional constraints, factor constraints, and demand constraints for MSMEs in the state, she said.

In a set timeline, the team deputed by SIDBI will be creating a strategy of cluster-based value chain for resource optimisation, setting up of a resource centre for cluster-level consultation and a help desk as well as empowerment of the concerned Industry Associations.

“It will be working as an effective bridge between MSMEs and the government for understanding ground-level challenges that MSMEs are facing and creating an ideal ecosystem for the ease of doing business,” she added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)