Northeast Desk, 14th February: The Small Industries Development Bank of India (SIDBI) has forged an agreement with the Nagaland government, pledging over Rs 100 crore for entrepreneurship projects in the northeastern state.
SIDBI, the apex regulatory body overseeing the licensing and regulation of micro, small, and medium enterprise finance companies in India, falls under the jurisdiction of the Ministry of Finance.
At an event on Tuesday night, SIDBI Chief General Manager Subhransu S Acharya announced funding for four projects, including the establishment of industrial infrastructure for MSMEs under the cluster development fund and Swavalamban Connect Kendras (SCK) across all 16 districts to foster entrepreneurship.
SIDBI also unveiled sports scholarships worth Rs 5 lakh each for the training of five promising sportspersons and pledged seed funds to support entrepreneurs in their startup journey.
The event saw the presence of Nagaland Advisor for Industry and Commerce Hekani Jakhalu Kense and SIDBI Chairman and Managing Director S Ramann.
Kense emphasized, “Chief Minister Neiphiu Rio has been very clear in stating that if the state’s economy has to grow, local entrepreneurs have to grow first.” She expressed gratitude to SIDBI and voiced optimism that young entrepreneurs would seize the opportunity.
Ramann echoed similar sentiments, expressing hope that through collaborative efforts with the Nagaland government, the state would soon witness flourishing startups.
Read More: Manipur: One killed as security personnel open fire on ‘village volunteers’ in Imphal