SIDBI launches initiatives to develop and strengthen MSMEs; aims to map 100 clusters

The holistic aim of the intervention is to strengthen clusters and also increase MSMEs’ access to services, according to a statement by the company.
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The Small Industries Development Bank of India (SIDBI) has launched a series of initiatives focused on the development of MSMEs.

These include EU Switch Asia in 18 clusters of nine states; cluster outreach programmes followed by setting up of Project Management Unit (PMU) in 11 states, with thrust on clusters and state cooperation; State Rural Livelihood Missions (SRLM); artisanal cluster and engagement in One District One Product (ODOP) districts of Uttar Pradesh; and more.

Commenting on this announcement, Sivasubramanian Ramann, Chairman and Managing Director of SIDBI, said,

“SIDBI has identified a multi-pronged strategy to impact local, regional, national and global value chain through MSME clusters. We are giving a thrust to hard infrastructure support to state governments. DFS GoI and the Reserve Bank of India have supported us in setting up the SIDBI Cluster Development Fund. The soft infrastructure engagement shall complement the hard infrastructure. In line with cluster experts, we have initiated the mapping exercise of 100 clusters such that the implementation by SIDBI and other institutions can lead to the sustainable growth of clusters”.

SIDBI has also launched the Business Development Services intervention programme in five clusters — tourism cluster in Jammu and Kashmir, innovation cluster in Delhi-NCR, wood furniture cluster in Jodhpur, textile cluster in Sambalpur, and leather cluster in Chennai.

The holistic aim of the intervention is to strengthen clusters to evolve as model clusters and also increase MSMEs’ access to services, according to a statement by the company.

As part of these initiatives, SIDBI also launched a book titled 'Diagnostic Mapping of Cluster — Charting the Path ahead through Intervention,” which will mark the commencement of its focused attention on clustering strategy. This is aimed at building and supporting the sustainable growth of MSMEs. It also compiles the findings that emerged out of diagnostic studies in 30 clusters, and contains recommendations and action plans for financial and non-financial issues, as well as interventions suggested at the policy, cluster and unit level.

SIDBI is geared up to undertake diagnostics of 100 clusters and plan engagement in 15 clusters.

Edited by Kanishk Singh

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