The creation of an exclusive fund for small- and medium-sized enterprises (SMEs) and the outsourcing opportunities available to small-scale industry (SSI) units are expected to provide an impetus to the industries in these sectors, according to a senior executive of the Small Industries Development Bank of India (SIDBI).
SIDBI is also working to shed its image of being largely a re-financier and has decided to concentrate on direct financing to borrowers.
Mr V. Chandrasekaran, chief general manager, SIDBI, Southern Zonal Office, Chennai, said his organisation was keen to cover the maximum number of units under the SME fund announced in the interim Budget and that has provided a corpus of Rs10,000 crore for assistance to SMEs over the next two years.
