SIDBI provides first approval of Rs 600 Cr to Maha govt

The Small Industries Development Bank of India (SIDBI), a leading financial institution involved in advertising, financing and development of micro, small and medium enterprises (MSMEs), has provided Rs 600 crore to the Government of Maharashtra under the SIDBI Cluster Development Fund (SCDF). This will give impetus to skill development in the state.

To revive / improve various ITIs / Polytechnics run by the Directorate of Vocational Education and Training under the Department of Skills, Employment, Entrepreneurship and Innovation. These ITIs / Polytechnics are complementary to the MSME clusters in the state by providing properly trained skilled manpower through hands-on skills training, which is the demand of MSMEs.

These ITI institutes are usually located near industry groups so that after completing their training in ITIs, enable new trainees to undergo apprenticeship training in various industry groups. The newly launched schemes of the government, namely Make in India, Digital India, Smart Cities and Swachh Bharat Mission, have led to a sharp increase in the demand for skilled manpower in Maharashtra. ITIs are getting ready to take on new responsibilities. These new schemes will play an important role in meeting the demand for MSMEs for skilled manpower.

Shivsubramaniam Raman, Chairman and Managing Director, SIDBI, I&S, said, “To provide a way to achieve high efficiency by providing necessary impetus to meet the need for skilled manpower in MSME ecosystems through active participation of state government run organizations in MSME development journey by upgrading and reviving organizations.