Promoting Entrepreneurs in India

11/10/2022 0 By indiafreenotes

The government plays an important role in the development of entrepreneurship. The central and state governments have set up a number of institutions to promote entrepreneurship. They are:

  • Small Industries Development Organization:

SIDO formulates policies for the development of small scale industries in the country. It provides support for promotion of rural entrepreneurship.

  • Management Development Institute:

MDI conducts management development programs to improve managerial effectiveness in the industry.

  • Entrepreneurship Development Institute of India:

EDI has helped to set up twelve state‐level exclusive entrepreneurship development institutes and centres.

All India Small Scale Industries Board:

AISSIB advises the Government on all issues related to the small scale sector. It determines the programmes and policies for the development of small scale industries.

National Institution of Entrepreneurship and Small Business Development:

NIESBUD supervises the activities of the different agencies involved in the entrepreneurial development programmes.

National Institute of Small Industries Extension Training:

The objective of the institute is to direct and coordinate the syllabi for training of small entrepreneurs. It organizes seminars for small entrepreneurs and managers.

National Small Industries Corporation Ltd.

NSIC provides a vast‐market for the products of the small industries through its marketing network. It also helps the small units in exporting their products to foreign countries.

MSME Policy:

The primary goal of Industrial and MSME Policy Resolutions was to advance industrial development and furthermore decide the example of state help to small industrial units for satisfying financial targets. The advancement of businesses has been viewed as an essential component of the development system hidden Five Year plans.

The appearance of a planned economy from 1951 and the consequent industrial policy pursued by the Government of India, both government and organizers reserved a specific position of Micro, Small and Medium Enterprises in the Indian economy. Government’s targets and goals towards industry, including small scale industry were declared through Industrial Policy Resolutions (IPRs).

Repayment for Iso‐9000 Certification Scheme

The scheme was begun in March 1994, and it gives up to Rs. 75,000 for every small industrial unit which procured ISO‐9000 Certification. Since the beginning of the scheme of ISO‐9000 repayment, 4101 small industrial units to the tune of Rs. 1944 crore have been profited up to Nov – 2006.

Laghu Udyami Credit Card Scheme

Laghu Udyami Credit Card Scheme, presented in November 2001, has been executed by the banks for giving borrower‐friendly credit facilities to small venture.

Credit Guarantee Fund Trust Scheme for Micro and Small Industries

The plan covers guarantee free credit facility reached out by qualified loaning establishments to new and existing Micro and Small Enterprises up to Rs. 50 lakh per borrowing unit.

National Equity Fund Scheme (NEF)

The target of NEF Scheme is to provide equity type finance to business visionaries for setting up new tasks in the tiny or small industrial sector for undertaking extension, modernization, technology upgradation and enhancement of existing modest, Small Industries and Service Enterprises and for reinstallation of practical wiped out units. In this scheme, the expense ought not to surpass Rs. 50 Lakhs.

Integrated Infrastructure Development Scheme (IIDS)

IIDS was launched in 1994 with the target of giving essential infrastructural facilities like Power Distribution network, Telecommunication, Water, Roads, Drainage and Pollution control facility, Storage, Banks, and Marketing outlets, Common administration facilities and Technological backup administrations, and so on