SIDBI, in collaboration with the Nagaland Government, has committed over Rs 100 crore towards fostering entrepreneurship in this Northeastern State. Small Industries Development Bank of India or SIDBI, operating under the Finance Ministry, plays a pivotal role in regulating and licensing micro, small, and medium enterprise finance companies across Bharat.
During a recent event, SIDBI Chief General Manager Subhransu S Acharya announced plans to finance four key projects aimed at bolstering entrepreneurship in Nagaland. These projects include the establishment of industrial infrastructure for MSMEs under the cluster development fund and the creation of Swavalamban Connect Kendras or SCK across all 16 districts to nurture entrepreneurial spirit.
Additionally, SIDBI unveiled sports scholarships worth Rs 5 lakh each, benefiting five promising athletes, and pledged seed funds to support budding entrepreneurs in their startup ventures.
Nagaland’s Industry and Commerce Advisor Hekani Jakhalu Kense, and SIDBI Chairman and Managing Director S Ramann were present on the occasion. Kense highlighted Chief Minister Neiphiu Rio’s vision for economic growth, emphasizing the pivotal role of local entrepreneurs in driving the State’s prosperity. She expressed gratitude to SIDBI and voiced confidence that young entrepreneurs would seize the opportunity for growth.
Ramann echoed Kense’s sentiments, expressing optimism about the collaborative efforts between SIDBI and the Nagaland Government in nurturing startups and fostering a thriving entrepreneurial ecosystem in the State.
