Small Business

SIDBI inks MoU with Tamil Nadu govt to develop MSMEs

CHENNAI: Small Industries Development Bank of India on Wednesday said it has signed a memorandum of understanding (MoU) with the Tamil Nadu government to develop micro, small and medium enterprises eco system in the state.

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

The setting up of the PMU aims at bringing focused engagement in various forms leading to a stronger ‘Atma Nirbhar’ state and country, SIDBI deputy managing director V Satya Venkata Rao said.

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

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