Small Industries of India (SIDBI) signed two memoranda of understanding (MoU) with the industries department and its agency,BiharIndustrial Area Development Authority (BIADA), on Wednesday to foster the Growth of the states Micro, Small and Medium enterprises (MSME). Bihar became the 14th state to enter into such an MoU with SIDBI.
As part of the first MoU with the industries department, project management units will be established to assist the State Government in implementing necessary interventions to enable SIDBIs targeted engagement in Bihar to facilitate the development of the MSME ecosystem.
Under the second MoU, SIDBI will work closely with BIADA.
The SIDBI Energy Efficiency plan for MSMEs, according to officials, has already begun in four districts. SIDBI will assist industries in making the transition from inefficient to efficient energy sources, such as Solar Energy and compressed natural gas pipelines that are now available in Bihars major industrial areas.