SIDBI signs MoU to develop MSME ecosystem in Bengal.

SIDBI has signed a memorandum of understanding with the government of West Bengal to develop the MSME ecosystem in the state, a SIDBI official said recently. As per the MoU a project management unit (PMU) of SIDBI will work with the state government.

The PMU will support the West Bengal government in making necessary interventions for focused engagement of SIDBI with the objective of facilitating development of the MSME ecosystem, the official said.

"We are working towards strengthening the MSME ecosystem in the states. SIDBI will be placing an expert agency with the state MSME department," SIDBI deputy managing director Sudatta Mandal said.

The key functions of the PMU will be to study the existing framework and guide stakeholders for cluster, sector specific products, interventions for MSMEs and handholding them for onboarding on digit platforms for funding, marketing and listing, besides evaluating scope of infrastructure projects for MSME clusters among others.

ET