Sidbi partners with Tamil Nadu to bolster MSME ecosystem in the state

Sidbi will deploy a project management unit in the Tamil Nadu government to design training and capacity-building programmes to be taken up by the state in various areas

The Small Industries Development Bank of India (Sidbi) has signed a memorandum of understanding (MoU) with the Tamil Nadu government to develop the ecosystem for micro, small and medium enterprises (MSMEs) in the state.

Under the MoU, Sidbi will deploy a project management unit (PMU) in the government of Tamil Nadu to design training and capacity-building programmes to be taken up by the state government 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, for MSMEs in the state with the objective of enhancing efficacy and removal of bottlenecks.

Deputy Managing Director V Satya Venkata Rao said that Sidbi had adopted a programmatic approach to foster closer cooperation with the state government, in line with the recommendations of the U K Sinha Committee.

Sidbi has signed MoUs with seven states and four more are planned in near future. The setting up of the PMU with an expert team aims to bring a focused engagement in various forms leading to a stronger ‘Atmanirbhar’ state and country. The PMU is expected to bring a deeper engagement in financial and non-financial fronts in the State of Tamil Nadu. Sidbi is also structuring a cluster development fund for supporting the infrastructural aspects of cluster development in states.

Sidbi has so far signed MoUs with seven states. PMUs have since been set up in five partner states. They have commenced mapping the gaps, matching these with good practices in other states and evolving as a facilitator of development and strengthening of the MSME ecosystem. It will support in onboarding to digital platforms, stock exchange listing, e-commerce platforms such as the Government e-Marketplace, etc.