Dispur signs 2 MoUs to boost MSME, entrepreneurship sectors

GUWAHATI: The State Government on Monday signed separate MoUs with Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) for ease of financial access for micro and small enterprises and with SIDBI Venture Capital for the Assam Start-up venture fund, even as Chief Minister Himanta Biswa Sarma ceremoniously launched the Assam Logistics and Warehousing Policy 2022 at an MSME conclave held at the Assam Administrative Staff College here. The policy is an initiative in making Assam a regional logistics hub to augment economic development of the State.

The size of the SIDBI Venture Capital Fund is Rs 200 crore, out of which Rs 100 crore will be contributed by the State Government, Rs 50 crore by SIDBI and the remaining Rs 50 crore will be by other contributors.

Speaking on the occasion, the Chief Minister termed the day as a red-letter day for the industry sector of the State as the MoUs would lead to rapid industrialization and revamp of the MSME sector. He said that the collaboration with Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) aims at providing additional guarantee coverage for the loans given by lending institutions to the Micro and Small Units in Assam. He said that in the scheme 80 per cent of the guarantee coverage of loan will be provided by CGTMSE and the remaining 20 per cent coverage would come from State Government.

Sar0ma also appealed to the young entrepreneurs to boost their efforts to develop a robust MSME ecosystem in Assam. He said that in view of today's cut-throat competition in the consumer market, it is high time that MSMEs modernize their applications and improve the quality of products, which are essential for survival in the national and international markets.

Industry and Commerce Minister Bimal Bora, CMD SIDBI S Ramann, Principal Secretary to the Chief Minister Samir Kumar Sinha, other senior officers of Industry Department and dignitaries from the MSME sector were present on the occasion.

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