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Angel Fund for promoting entrepreneurship in State

By Staff Reporter
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GUWAHATI, Sept 19 � Chief Minister Tarun Gogoi today unveiled the Angel Fund floated to help first generation entrepreneurs and skilled youths aspiring to set up micro and small enterprises in the State.

Unveiling the special fund at a conference of General Managers of District Industries and Commerce Centres (DICCs) at the conference room of Assam Administrative Staff College here, the Chief Minister also announced, �Our government will come up with a new scheme to promote the traditional industries, such as bell metal, shital paati, ornaments, bamboo, handloom and handicraft. We will reach out to the artisans engaged in traditional industries in a big way,� he said. At the same time, the Chief Minister underscored the need for modernising the traditional industries to cater to the needs of the customers, stated an official press release here.

The Chief Minister said 80 per cent of the loan being extended to the first generation entrepreneurs and skilled youths would help them to set up their own ventures and to become self-dependent.

�Our government will raise the maximum loan amount under the scheme from the existing Rs 5 lakh so that the young entrepreneurs can go in for expansion of their businesses in a big way. Today�s unveiling of the scheme is just a beginning. We have to go on a mission mode for the overall growth of the MSME sector in the State,� he said.

He said, �The MSME sector has to play a bigger role in creating employment opportunities, given the fact that there is less scope of big industries coming to the State because of non-availability of required land and limited scope of white-collar jobs.�

The Chief Minister said the economy would be augmented if Assam�s green economy in the form of forest resources, aromatic and medicinal plants together with bamboo and rubber are harnessed to the optimum level.

Speaking on the occasion, Minister for Industries and Commerce Pradyut Bordoloi said the special Angel Fund would provide the much needed impetus to the first generation entrepreneurs and skilled youths to set up industries on their own.

The minister said his department has conducted a resource mapping in the State to identify the industries that can grow based on the locally available raw materials and to create a pool of skilled manpower required for the industries.�

An MoU was signed by the Commissioner, Industries and Commerce, Rajesh Prasad on behalf of Government of Assam and Chairman, Assam Gramin Vikash Bank, Shio Shankar Singh on operation of the Angel Fund scheme in presence of the Chief Minister, Minister for Industries & Commerce, general managers of DICCs, heads of financial institutions, State PSUs, KVICs and other organisations, the press release added.

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Angel Fund for promoting entrepreneurship in State

GUWAHATI, Sept 19 � Chief Minister Tarun Gogoi today unveiled the Angel Fund floated to help first generation entrepreneurs and skilled youths aspiring to set up micro and small enterprises in the State.

Unveiling the special fund at a conference of General Managers of District Industries and Commerce Centres (DICCs) at the conference room of Assam Administrative Staff College here, the Chief Minister also announced, �Our government will come up with a new scheme to promote the traditional industries, such as bell metal, shital paati, ornaments, bamboo, handloom and handicraft. We will reach out to the artisans engaged in traditional industries in a big way,� he said. At the same time, the Chief Minister underscored the need for modernising the traditional industries to cater to the needs of the customers, stated an official press release here.

The Chief Minister said 80 per cent of the loan being extended to the first generation entrepreneurs and skilled youths would help them to set up their own ventures and to become self-dependent.

�Our government will raise the maximum loan amount under the scheme from the existing Rs 5 lakh so that the young entrepreneurs can go in for expansion of their businesses in a big way. Today�s unveiling of the scheme is just a beginning. We have to go on a mission mode for the overall growth of the MSME sector in the State,� he said.

He said, �The MSME sector has to play a bigger role in creating employment opportunities, given the fact that there is less scope of big industries coming to the State because of non-availability of required land and limited scope of white-collar jobs.�

The Chief Minister said the economy would be augmented if Assam�s green economy in the form of forest resources, aromatic and medicinal plants together with bamboo and rubber are harnessed to the optimum level.

Speaking on the occasion, Minister for Industries and Commerce Pradyut Bordoloi said the special Angel Fund would provide the much needed impetus to the first generation entrepreneurs and skilled youths to set up industries on their own.

The minister said his department has conducted a resource mapping in the State to identify the industries that can grow based on the locally available raw materials and to create a pool of skilled manpower required for the industries.�

An MoU was signed by the Commissioner, Industries and Commerce, Rajesh Prasad on behalf of Government of Assam and Chairman, Assam Gramin Vikash Bank, Shio Shankar Singh on operation of the Angel Fund scheme in presence of the Chief Minister, Minister for Industries & Commerce, general managers of DICCs, heads of financial institutions, State PSUs, KVICs and other organisations, the press release added.