The Haryana State Industrial & Infrastructure Development Corporation Limited (HSIIDC) has taken a significant step towards promoting industrial growth in the state by signing a Memorandum of Understanding (MoU) with the Central Bank of India. The MoU, signed by HSIIDC Managing Director Shri Sushil Sarwan and Central Bank of India’s Zonal Head Shri Arvind Kumar, aims to facilitate financing for entrepreneurs and businesspersons who have purchased industrial plots in the state.
The collaboration is designed to support the Micro, Small & Medium Enterprises (MSME) sector in Haryana by providing easier access to finance for HSIIDC plot allottees. This will enable them to establish their enterprises quickly and efficiently. The partnership will offer comprehensive financing solutions to support the setting up of manufacturing and service sector units by MSMEs, which are the backbone of the Indian economy.
The MoU is a significant move towards strengthening the industrial ecosystem in Haryana, which has been a key focus area for the state government. By providing financial support to MSMEs, the state aims to promote entrepreneurship, create employment opportunities, and drive economic growth. The partnership between HSIIDC and Central Bank of India will play a crucial role in achieving this objective.
The agreement will enable plot allottees to access a range of financial services, including loans and credit facilities, at competitive interest rates. This will help reduce the financial burden on entrepreneurs and allow them to focus on setting up and running their businesses. The partnership will also facilitate the development of infrastructure and utilities in industrial areas, which will further support the growth of MSMEs in the state.
Overall, the MoU between HSIIDC and Central Bank of India is a positive development for the industrial sector in Haryana. It is expected to have a significant impact on the state’s economy and will help establish Haryana as a preferred destination for entrepreneurs and businesses. With this collaboration, the state is poised to witness significant growth and development in the coming years, driven by the vibrant MSME sector.