SIDBI Champions Sustainable Growth in MSME Sector

SIDBI is driving sustainable development for MSMEs, highlighting energy-efficient transitions and holistic growth. The Deputy Managing Director shared insights on various initiatives during the International MSME Day, noting contributions to exports and GDP, and the role of financial and non-financial engagements.

SIDBI is spearheading sustainable development within the MSME sector, which is vital to India's economy, according to a senior official from the financial institution.

Deputy Managing Director Sudatta Mandal emphasized SIDBI's proactive measures for creating a 'green' MSME ecosystem, incorporating both financial and non-financial initiatives.

Speaking during International MSME Day organized by MCCI, Mandal detailed that SIDBI has launched various competitively priced lending products to facilitate energy-efficient transitions amongst MSMEs. He highlighted SIDBI's projects, including the World Bank-supported Partial Risk Sharing Facility worth USD 37 million for energy efficiency.

Mandal noted the comprehensive efforts for the sector's development, which significantly contributes to India's exports and GDP. He also mentioned the support for MSMEs in assessing energy efficiency and adopting low-emission practices. Encouraging the sector to leverage schemes for technological upgrades and innovation, Mandal noted that projects worth Rs 3.20 lakh crore have been approved under the Centre's PLI schemes.

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