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Rajasthan government signs pact with Sidbi to develop MSME ecosystem

The MSME Act was amended to promote industries

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Rajasthan, Department of Industries, SIDBI, Industries Minister Parsadi Lal Meena, Small Industries Development Bank of India, Rajasthan government, MSME ecosystem, Principal Secretary (Industries) Naresh Pal Gangwar, Commissioner Archana Singh

Rajasthan's Department of Industries and Sidbi will work together to provide financial, technical, marketing and export support to MSMEs in the state, Industries Minister Parsadi Lal Meena said.

The Small Industries Development Bank of India (Sidbi) has signed a memorandum of understanding (MoU) with the Rajasthan government to develop the MSME ecosystem in the state.

Meena said the MSME Act was amended to promote industries and exempt such businesses from all kinds of permissions and inspections for three years. Now, the establishment of large industries will also become easy with the coming of a single window one-stop shop, he said in a statement.

Meena said micro, small and medium enterprises (MSMEs) provide maximum employment opportunities and also have an effective share in exports. In such a situation, the state government is taking steps to understand and solve the problems of MSMEs. The agreement with Sidbi is also a growing step in this direction, he added.

Principal Secretary (Industries) Naresh Pal Gangwar said innovative cluster based thinking will be promoted in the state with the help of Sidbi. The agreement was signed by Commissioner Archana Singh on behalf of the Department of Industries and General Manager Balbir Singh on behalf of Sidbi.

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