Ease of Doing Business for MSMEs: Small Industries Development Bank of India (SIDBI) in affiliation with the Uttar Pradesh authorities’s One District One Product (ODOP) Cell of its MSME Department on Monday launched Enterprise Connect Desks (ECDs) in 35 district industries centres (DICs) of the state. SIDBI mentioned the ECDs have been arrange for enterprise promotion by encouraging entrepreneurship amongst individuals and serving to them with info on MSME associated schemes of the central authorities, Uttar Pradesh authorities, banks and SIDBI.
Navneet Sehgal, Additional Chief Secretary, MSME & Export Promotion, Government of Uttar Pradesh appreciated the trouble of SIDBI and ODOP in connecting with the unemployed youth to take up entrepreneurship by way of this initiative which is able to facilitate budding entrepreneurs to attach with banks. Sehgal additionally suggested members to make use of the state authorities’s Udyam Sarathi App for self-employment alternatives within the state.
SIDBI is giving impetus to its promotional and developmental interventions within the state for the unserved and underserved segments by way of partnerships with the state authorities and different stakeholders, Manish Sinha, General Manager and Regional Head, SIDBI, Lucknow mentioned. Sinha additionally highlighted the significance of the position of the ‘Resource Persons’ at EDCs in addressing the knowledge hole to assist the youth develop into entrepreneurs.
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Earlier, SIDBI had additionally partnered with Uttar Pradesh and a number of different states together with Assam, Rajasthan, Haryana, Maharashtra, Delhi, Uttarakhand, and extra to arrange Project Management Units (PMUs) for growing native MSME ecosystems. According to an earlier assertion by SIDBI, PMUs in coordination with SIDBI and state governments have given coverage/scheme inputs on its Innovation Voucher Programme scheme and New Entrepreneur cum Enterprise Development Scheme, and undertaken speedy profiling of migrant labors choices for entrepreneurship in PMU states.
The assist from SIDBI throughout states has come amid Covid affect on MSMEs throughout India. According to a survey of a random pattern pool of 1,029 MSMEs throughout 20 States and two union territories performed by SIDBI late final yr, 67 per cent MSMEs had reported non permanent closure for as much as a three-month interval throughout Covid within the monetary yr 2020-21. Moreover, round 66 per cent models had reported a decline in profitability on account of secure fastened prices and a decline in income. The survey outcomes had been shared by the MSME Minister Narayan Rane in reply to a query in Lok Sabha in February this yr.
Source: www.financialexpress.com”