Government of Haryana through its Directorate of MSME and Small Industries Development Bank of India (SIDBI) entered a Memorandum of Understanding (MoU) today with the objective of development of the MSME ecosystem in Haryana.

The MoU was executed by Shri Vikas Gupta, IAS, Director General, MSME, Directorate of MSME, Govt. of Haryana and General Manager, SIDBI, Chandigarh. The signing ceremony was done in presence of Shri V S Venkata Rao, Dy. Managing Director, SIDBI who joined through video conference.

In line with expectation of U.K. Sinha Committee SIDBI has laid emphasis on more focused engagement with State Governments. SIDBI has spearheaded few initiatives towards strengthening of enterprise eco system. Setting up of project management Unit in 11 states is a key step in this direction. The first such MoU has been signed between Government of Haryana and SIDBI on August 7, 2020.

Under the arrangement, SIDBI shall set up a dedicated Project Management Unit (PMU) which will work in coordination with Govt. of Haryana and facilitate schemes / initiatives / interventions for benefit of MSMEs in the state. The focus areas shall include designing schemes for equity support, interest subvention, resolution of stressed MSMEs and learning events for MSME entrepreneurs.

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