Nellore Collector urges SIDBI to boost local MSMEs

District Collector urges SIDBI to support local MSMEs, provide financial assistance, marketing strategies, technical support, and international opportunities.

District Collector O. Anand on Friday urged the Small Industries Development Bank of India (SIDBI) to support local Micro, Small and Medium Enterprises (MSME) to increase their production, considering the three MSME clusters set up in Nellore district are not progressing as expected.

Speaking at the ‘MSME Cluster Outreach Programme’ organised by the SIDBI in the city, he said: “The SIDBI shall provide financial assistance to all the MSMEs under its various schemes, identify better marketing strategies and increase their opportunities, and help the farmers dependent on orange, mango and other horticulture crops in the district to explore domestic as well as international markets.”

Mr. Anand asked SIDBI to provide technical support to the aspiring businesspersons who are setting up orange and mango processing units in a large scale. He suggested the District Rural Development Agency (DRDA) to encourage women manufacturers’ associations to sell various types of products online through e-commerce platforms.

SIDBI Hyderabad region general manager Vemuri Chandramouli said that the organisation is encourages lending to MSMEs by refinancing the commercial banks and other financial institutions to grant loans to small scale industries.

Mr. Chandramouli informed that the SIDBI is assisting MSMEs to exhibit their products in international exhibitions as well as bearing the expenses of their participation. He said that seed capital and soft loans are also provided to small scale entrepreneurs to sustain their businesses.