Te MoU includes features like increasing formalization, improving the legal framework, expanding credit access, building competitive clusters, and for general ease of doing business
Global Alliance for Mass Entrepreneurship (GAME) and The Small Industries Development Bank of India (SIDBI) have signed an MoU to help the challenges MSMEs face. This will help address them in their challenges that were aggravated during the pandemic, in addition to the long-overdue correction of capacity gaps in the sector. The MoU includes features like increasing formalization, improving the legal framework, expanding credit access, building competitive clusters, and for general ease of doing business.
The two platforms are committed that at least 25% of beneficiaries would be women, start-up leaders. Some of the primary focus areas of the partnership will be scaling up Udyam Registration as a unique identifier for an MSME to access schemes across the domain. Leveraging SIDBI’s financial schemes to further formalize enterprises, among others. GAME aims to make entrepreneurship aspirational and help small and micro-entrepreneurs build their businesses.
Source: Business World
