In an effort to drive growth and innovation in Nellore’s MSME sector, District Collector O. Anand called on the Small Industries Development Bank of India (SIDBI) to step up its support for local Micro, Small, and Medium Enterprises (MSMEs), which are struggling to reach their full potential in the district’s three MSME clusters.
Speaking at the ‘MSME Cluster Outreach Programme’ in Nellore, Mr. Anand urged SIDBI to extend its financial schemes to help MSMEs enhance production, develop robust marketing strategies, and tap into both domestic and global markets. He emphasised the importance of empowering local farmers, particularly those cultivating oranges, mangoes, and other horticulture crops, to access new opportunities in broader markets.
“The SIDBI must go beyond just financial assistance. Supporting farmers and MSMEs with access to advanced marketing strategies and technical expertise is crucial,” said Mr. Anand. He also proposed that SIDBI offer technical support to entrepreneurs aiming to establish large-scale orange and mango processing units.
Mr. Anand emphasised women's empowerment, encouraging the District Rural Development Agency (DRDA) to connect women-led manufacturing groups with e-commerce platforms to assist them expand their reach and increase online sales.
SIDBI Hyderabad Regional Manager, Vemuri Chandramouli, highlighted the bank’s continuous commitment to MSMEs by refinancing loans through commercial banks and financial institutions, making capital more accessible for small-scale industries. He shared that SIDBI also supports local businesses by funding their participation in international exhibitions and providing seed capital and soft loans, ensuring entrepreneurs have the resources they need to succeed.
With these collaborative efforts, Nellore’s MSMEs are set to gain a stronger foundation, enhanced market presence, and greater economic resilience.
