Small Industries Development Bank (SIDBI) sign an MoU with Govt. of Tamil Nadu to Develop MSMEs

SIDBI has signed a memorandum of understanding (MoU) with the Government of Tamil Nadu to develop the eco system of micro, small and medium enterprises in the state.

SIDBI would deploy a project management unit (PMU) for training and capacity-building programmes in areas like technology transfer, intellectual property rights and research & development, among others.

Mr. V Satya Venkata Rao, SIDBI Deputy Managing Director Said - “The PMU aims at bringing focused engagement in various forms leading to a stronger 'Atma Nirbhar' state and country.”

He added, The PMU is expected to bring a deeper engagement in financial and non-financial fronts, he said. SIDBI is also structuring a cluster development fund to support the infrastructural aspects of cluster development.

SIDBI regional head Ms. Chitra Karti Alai exchanged documents with Tamil Nadu Industries Commissioner Ms. Anu George in the presence of Chief Minister K Palaniswami at a function recently.