(T.E.T)
The Small Industries Development Bank of India (SIDBI) has tied up with the Government of Bihar to promote the micro, small and medium enterprises (MSME) sector in the state. To this effect, two memoranda of understanding (MoU) have been signed between SIDBI and the industries department, Government of Bihar, and the Bihar Industrial Area Development Authority (BIADA) to develop the MSME ecosystem in the state. Under the first MoU with Bihar’s industry department, project management units (PMUs) will be deployed by SIDBI with the state government, SIDBI said in a statement on Wednesday.
The PMU will support the state government in making necessary interventions for focused engagement of SIDBI with Bihar, with the objective of facilitating development of the MSME ecosystem. Bihar is the 14th state of the country with which SIDBI has tied up and it will play an important role in strengthening the MSMEs of the state, Mehrotra said. “We are working towards strengthening the MSME ecosystem in the state. SIDBI will place an expert agency with the state industries department of Bihar,” Sinha said.
