MoU with SIDBI to boost MSME sector in Assam

Guwahati: The industries and commerce department of Assam Saturday signed a memorandum of understanding (MoU) with Small Industries Development Bank of India (SIDBI) to boost the MSME sector in the state.

According to the MoU, a project management unit (PMU) will be deployed by SIDBI with Government of Assam to monitor the micro, small and medium enterprises (MSME) sector, an official release said.

"The PMU will support the state government in making necessary interventions for enhancing efficacy of MSMEs in the state," it added.

Speaking on the occasion, Industries and Commerce Minister Chandra Mohan Patowary said the collaboration with SIDBI will bring all the MSMEs of the state to the formal, organised sector.

He urged SIDBI to create awareness of its micro financing system for the benefit of the people.

Patowary also stressed on SIDBI's handholding support to the indigenous entrepreneurs working in sectors like bamboo, bell-metal and other items.

(PTI)