At a recent event in New Delhi held by the Associated Chambers of Commerce and Industry (ASSOCHAM), the Meghalaya state government called upon MSMEs, financial institutions and leaders to come forward for the development of the industry corridor in North Eastern states. The event was the inaugural session of ASSOCHAM’s Innovative Financial Solutions for Micro, Small and Medium Enterprises (MSMEs).
Conrad K Sangma, Chief Minister of Meghalaya, spoke about large opportunities in the state for sectors like food processing, knitting, tailoring and embroidery, carpet weaving, carpentry and furniture making, leather, blacksmith and fabrication works, and more. “The state is also planning to open a food processing hub in Meghalaya,” he added.
At the event, ASSOCHAM awarded prizes in different categories such as SME of the Year, Fair Business Practices, Most Promising Brands, Women Entrepreneur, Corporate Social Responsibility (CSR) Activates, Best SME Bank, Best SME Lending and Micro Lending. Nine banks and 14 MSME units were awarded under these categories.
The ASSOCHAM-Resurgent India joint release study was also launched at the event, which projected that India's labour force would reach 160 to 170 million by 2020. It is based on factors including population growth rate, labour force participation, education enrolment at higher levels, and more.