It gives me great pleasure to know that DARE magazine is bringing out a special supplement on the SME sector in the North East. This beautiful corner of India was at the time of Independence having an enviable economic position with per capita Domestic Product much above the country average.
However, over time this position got eroded considerably and the economy of the Region suffered a setback. We have come a long way since then and the North East is now poised to make a come back in the economic scenario of the country.
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O P Bhatt |
The core strengths of the North East include hydel power, oil and gas, agro based industry and tourism. There is a large pool of educated English speaking population whose skill sets have been recognized across the country in the retail, hospitality, travel and IT enabled services sector. It is also the gateway to South East Asia.
As the pioneer Bank in the North East, we have been closely associated with the SME sector. Starting with the conventional Working capital and term financing, we now offer the full bouquet of products and services for the SME sector. As a part of our Consultancy Support to SMEs we have been catalyzing Technology Up-gradation in SME clusters in the North East through our Project Uptech with the objective of making the clusters more competitive. Among the clusters we have taken up are the bell metal industry in Hajo and the brass industry in Sarthebari. We have also been conducting Entrepreneurial Development Programmes in association with the Indian Institute of Entrepreneurship for the skill development of entrepreneurs. Our latest products which we have rolled out in the North East include Electronic platforms for Dealer and Vendor finance of industry majors, collateral free loans to Micro and Small Enterprises, and interest free loans in the form of equity assistance to set up new units. With the rapid increase in projects in the infrastructure sector in the North East, we are also focusing on funding viable projects. In addition, we have six dedicated SME City Credit Centres across the North East to serve as an efficient delivery platform for these services. These are backed by dedicated teams of Relationship Managers besides our Branch network of 527 Branches. We recognize that if we are to continue to be the preferred bank for Small and Medium Entrepreneurs in the North East, we have to go beyond numbers and bring customized value propositions to our SME customers. We are doing this with intense inter action with all stake holders in the North East, a task which we are uniquely placed to do, with our reach and coverage.
I am sure that this issue of DARE magazine would awaken interest amongst entrepreneurs of the opportunities that exist in the North East. We look forward to serving them.
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