(MENAFN- KNN India)
Nellore, Nov 9 (KNN)
In a call for economic rejuvenation, District Collector O. Anand urged the Small Industries Development bank of India (SIDBI) to bolster its support for local Micro, Small, and Medium Enterprises (MSMEs) in Nellore.
Speaking at the“MSME Cluster Outreach Programme” organized by SIDBI on Friday, Mr. Anand highlighted the need for intensified efforts to improve the output and visibility of MSMEs in the region.
Despite the establishment of three MSME clusters in Nellore, Anand noted that these units have yet to realise their potential.
He emphasised that SIDBI's active financial and technical support could drive significant improvements in productivity and reach.
“The SIDBI shall provide financial assistance to all the MSMEs under its various schemes, identify better marketing strategies, and increase their opportunities,” he said.
By extending its resources, SIDBI could open doors for local MSMEs to explore both domestic and international markets, especially for products rooted in local agriculture, such as oranges and mangoes.
Anand also proposed specific support measures, including technical guidance for entrepreneurs setting up large-scale processing units for these crops, which are integral to Nellore's economy.
He further encouraged the District Rural Development Agency (DRDA) to assist women manufacturers in establishing an online presence for their products.
Leveraging e-commerce, he suggested, would widen market access for women-led enterprises, providing a sustainable boost to their business activities.
Adding to Anand's message, SIDBI Hyderabad's regional manager Vemuri Chandramouli outlined SIDBI's commitment to lending support. He shared that SIDBI aids MSMEs by refinancing loans through commercial banks and other financial institutions.
This initiative allows small-scale businesses to access capital more readily, fostering growth in the sector.
Chandramouli also mentioned SIDBI's role in sponsoring MSMEs to participate in international exhibitions, providing seed capital, and offering soft loans to help entrepreneurs sustain and expand their ventures.
With the collaboration of SIDBI and local authorities, Nellore's MSMEs may soon find new pathways for growth, empowering the district's economy and local communities alike.
(KNN Bureau)
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