MSME Entrepreneurs' Innovative Approach to 360 Degree Change: Make Money Easily

Gandhinagar, Ta. December 21, 2019, Saturday

The initiative that facilitates MSME entrepreneurship in the state for the establishment of finance industry has been realized under the visionary leadership of Chief Minister Vijay Rupani. The State Government's Department of Industry has concluded important MoUs with the nationalized Bank of Baroda. Now the new entrepreneurs who want to set up MSME units in Gujarat will get the resources within the timeframe and the need.

The MoU was signed on behalf of the Government of Gujarat by the Principal Secretary to the Industries and MK Das, the Principal Secretary to the Chief Minister, and Vikramadityasinh Khinchi, the Executive Director of the Bank on behalf of the Bank of Baroda.

Under this MoU, MSME entrepreneurs will get Rs. Provision of financial assistance for projects up to Rs. 5 crore will be allowed in only seven days, ie in one week as well as in the next 21 days for industrial projects above Rs. 5 crore.

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The Bank of Baroda has also set up a Centralized Monitoring Cell in Mumbai for this purpose which will help facilitate such MSME entrepreneurs in Gujarat and make money available quickly.

It is important to mention here that Chief Minister Shri Vijaybhai Rupani has adopted a revolutionary approach to exempt MSME units for industrialization in the state for three years from obtaining the necessary permissions to start the industry.

In addition, it has announced an incentive policy for more than 35 lakh MSME industries in the state to provide special facilities for the production of solar energy solar energy. Now, MoUs with the nationalized bank to provide money to facilitate the industrial establishment of such units have provided a new impetus for the industrial establishment with 360 degrees of ease for MSME units in the state.