The government said this would generate employment for one lakh skilled youth.
The Gujarat government expects signing of around twenty thousand memorandums of understanding (MoUs) in Micro, Small and Medium Enterprises (MSME) sector during the upcoming Vibrant Gujarat Summit (VGS). The government said this would generate employment for one lakh skilled youth.
The Gujarat government is going to hold the MSME convention alongside VGS that will be focused on the sector. The session will be inaugurated by CM Vijay Rupani on January 19 and there will be a live display of SIDBI's Loan Under-59 minutes scheme that provides MSMEs in-principle approval for loans up to Rs. 1 crore through an easy-to-access online portal.
Vice chairman and Managing Director of Gujarat Industries Development Corporation (GIDC) D Thara addre-ssed a press conference and shared information about the MSME convention.
She said: "Chamber of commerce and MSME associations from as many as 40 different nations and 30 from across the nation will take part in the convention. Representatives of associations from Taiwan, Bangladesh, Japan, Pakistan and many more countries will talk about their success stories, about how they achieved global clients by operating from small geographical areas. Experts from different institutions will participate in the convention and they will address queries from participants, along with motivating them to access the market."
Talking on Gujarat government's initiatives for MSME, Thara said that by the end of November 2018, more than 23,000 MSME units received financial assistance totaling to Rs 686 crore for investment capital or subsidies to pay interest against bank loans.
NOT A BRIGHT RESPONSE
- The GIDC started providing sheds to MSMEs. So far, 744 such sheds have been given to small units & 546 to large units
- The VC and MD of GIDC admitted that the scheme received poor response in North Gujarat sector.
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