Shillong, Oct 27, 2018:
National Working President of the Forum of SC and ST Legislators Parliamentarians, Inder Iqbal Singha Atwal said that the Centre had set up the North East Venture Fund (NEVF) to help the entrepreneurs from the Northeastern Region in setting up their business.
While talking to reporters here today, Atwal said that this is the first dedicated venture capital fund for the region adding that it was set up by the North Eastern Development Finance Corporation Ltd. (NEDFi).
According to him, the primary objective of this venture fund was to help the budding entrepreneurs from the region to invest in various fields.
He also informed that the objective of the fund was to contribute to the entrepreneurship development of the North East Region (NER).
It may be mentioned that the capital commitment to the fund is Rs.100.00 crore with an initial contribution of Rs.75.00 crore consisting of Rs.45.00 crore from Ministry of DoNER and Rs.30.00 crore from NEDFi.
The balance fund of Rs.25.00 crore has been committed by Small Industries Development Bank of India (SIDBI) in-principle.
Atwal, however, appealed all the stakeholders and ST-SC entrepreneurs in the State to participate at the National SC-ST Hub (NSSH) State Conclave-Shillong, Meghalaya to be held at the State Convention Centre on Monday.
He said that the conclave will be attended by Chief Minister Conrad K Sangma, Industries Minister, Sniawbhalang Dhar and Governor, Tatathagata Roy.
The conclave will be organized by NSIC Limited in association with Forum of SC & ST Legislators & Parliamentarians.
He further informed that the conclave aims to bring the CPSEs, Industry Associations and State Government together on a common platform and deliberate upon steps to be taken up to fulfill Public Procurement Policy mandate for SC-ST entrepreneurs.
Informing that NSSH is a Central Sector Scheme launched by Prime Minister Narendra Modi, he said that the main aim of the scheme is to create a supportive ecosystem for SC/ST entrepreneurs by assisting them in capacity building and thereby enabling them to effectively participate in Public Procurement Process.
The scheme is originally linked to the Public Procurement Policy, 2012 of GoI and NSIC is the implementing agency for the scheme.
The Public Procurement Policy, 2012 of GoI states that 20 percent of total procurement of goods and services by Central Ministries, Departments and CPSEs shall be made from MSEs and 20 percent of such procurement (4 percent of total) from MSEs shall be made from SC & ST owned MSEs, he added.
Asserting that the actual supply from MSEs owned by SC & ST is very less from the 4 percent target for procurement till now, he said that the figure for supply (by the SC & ST owned MSEs) at present stands at just mere 0.5 percent.