Staff Reporter,
Guwahati, September 20: Chief Minister Dr. Himanta Biswa Sarma ceremoniously launched Assam Logistics and Ware Housing Policy 2022 at an MSME conclave held at Assam Administrative Staff College here on Monday. The policy is an initiative in making Assam a regional logistics hub to augment economic development of the state. In the same conclave, in presence of Chief Minister Dr. Sarma, Government of Assam entered into an MoU with CGTMSE for ease of financial access for micro and small enterprises. The government signed another MoU with SIDBI Venture Capital for Assam Start up venture fund. The size of the SIDBI Venture Capital Fund is Rs. 200 crore. Rs. 100 crore will be contributed by the State government, Rs. 50 crore by SIDBI and remaining Rs. 50 crore will be by other contributors. Speaking on the occasion, Chief Minister Dr. Sarma termed the day as red letter day for the industry sector of the state as the MoUs would lead to rapid industrialization and revamp of the MSME sector. He said that the collaboration with Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) aims at providing additional guarantee coverage for the loans given by lending institutions to the Micro and Small Units in Assam. He said that in the scheme 80% of the guarantee coverage of loan will be provided by CGTMSE and the balance 20% coverage would come from the State Government. Referring to SIDBI's estimate, a corpus support of Rs. 100 Crore will lead to a portfolio creation of Rs. 5000 Crore and the yearly fund requirement from State Government would be around Rs. 22 Crore to Rs. 26 Crore in the next three years.
The Chief Minister also said that under another MoU signed with SIDBI, the SIDBI Venture Capital Fund (SVCL) intends to work as Investment Manager for the proposed Assam Start-up Venture Capital Fund. SIDBI through its subsidiary, SVCL as the partner for the Assam Start-up Venture Capital Fund, shall facilitate development of a comprehensive plan in association with the State Govt for an organised development and growth of the Start-ups including MSMEs in the State. SVCL shall establish Assam Start up Venture Fund with a total corpus of Rs. 200 crore. Industry and Commerce Minister Bimal Bora, CMD SIDBI S. Ramann, Principal Secretary to the Chief Minister Samir Kumar Sinha and other senior officers of Industry department, dignitaries from MSME sector were present on the occasion.
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