SIDBI inks pact with TN to develop MSME ecosystem

Chennai: Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing and development of Micro, Small and Medium Enterprises (MSME), has entered a Memorandum of Understanding (MoU) with the government of Tamilnadu to develop the MSME ecosystem in the State.

The MoU was signed by Anu George, Industries Commissioner and Director of Industries and Commerce, Chitra Kartik Alai, Regional Head, SIDBI, Chennai in the presence of Chief Minister Edappadi K Palaniswami recently.

Under the MoU, SIDBI would deploy a Project Management Unit (PMU) in Tamilnadu. The role of the PMU will be to design training and capacity building programs, which may 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 and technology driven businesses / startups, etc.


NT Bureau