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SIDBI launches Enterprise Connect Desks in UP’s district industries centres to promote entrepreneurship

Ease of Doing Business for MSMEs: SIDBI is giving impetus to its promotional and developmental interventions in the state for the unserved and underserved segments through partnerships with the state government and other stakeholders, said Manish Sinha, General Manager and Regional Head, SIDBI Lucknow.

Earlier, SIDBI had also partnered with Uttar Pradesh and multiple other states including Assam, Rajasthan, Haryana, Maharashtra, Delhi, Uttarakhand, and more to set up Project Management Units for developing local MSME ecosystems.

Ease of Doing Business for MSMEs: Small Industries Development Bank of India (SIDBI) in association with the Uttar Pradesh government?s One District One Product (ODOP) Cell of its MSME Department on Monday launched Enterprise Connect Desks (ECDs) in 35 district industries centres (DICs) of the state. SIDBI said the ECDs have been set up for enterprise promotion by encouraging entrepreneurship among people and helping them with information on MSME related schemes of the central government, Uttar Pradesh government, banks and SIDBI.

Navneet Sehgal, Additional Chief Secretary, MSME & Export Promotion, Government of Uttar Pradesh appreciated the effort of SIDBI and ODOP in connecting with the unemployed youth to take up entrepreneurship through this initiative which will facilitate budding entrepreneurs to connect with banks. Sehgal also advised participants to use the state government?s Udyam Sarathi App for self-employment opportunities in the state.

SIDBI is giving impetus to its promotional and developmental interventions in the state for the unserved and underserved segments through partnerships with the 

state government and other stakeholders, Manish Sinha, General Manager and Regional Head, SIDBI, Lucknow said. Sinha also highlighted the importance of the role of the „Resource Persons? at EDCs in addressing the information gap to help the youth become entrepreneurs.

Earlier, SIDBI had also partnered with Uttar Pradesh and multiple other states including Assam, Rajasthan, Haryana, Maharashtra, Delhi, Uttarakhand, and more to set up Project Management Units (PMUs) for developing local MSME ecosystems. According to an earlier statement by SIDBI, PMUs in coordination with SIDBI and state governments have given policy/scheme inputs on its Innovation Voucher Programme scheme and New Entrepreneur cum Enterprise Development Scheme, and undertaken rapid profiling of migrant labors options for entrepreneurship in PMU states.

The support from SIDBI across states has come amid Covid impact on MSMEs across India. According to a survey of a random sample pool of 1,029 MSMEs across 20 States and two union territories conducted by SIDBI late last year, 67 per cent MSMEs had reported temporary closure for up to a three-month period during Covid in the financial year 2020-21. Moreover, around 66 per cent units had reported a decline in profitability on account of stable fixed costs and a decline in revenue. The survey results were shared by the MSME Minister Narayan Rane in reply to a question in Lok Sabha in February this year.