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Manipur entrepreneurs demand revival of industrial sector

Tags: manipur, entrepreneurs, manidco, amea, sme, industrial growth, revive, financing

June 17, 2013 | COMMENTS ( 0 )

Manipur entrepreneurs demand revival of industrial sector

Manipur’s state level entrepreneurs’ body, the All Manipur Entrepreneurs’ Association (AMEA) has asked the Government to look into the areas hindering the industrial growth in the state. The body has urged the government to revive the defunct Manipur Industrial Development Corporation (MANIDCO), the state finance corporation, for industrial growth in Manipur.

S Rishikumar, President, AMEA told media persons that Manipur has seen little industrialisation even though it has been more than 60 years since India achieved independence.

Industrial sector has remained neglected due to lack of clear cut industrial policy, keeping MANIDCO defunct for more than 20 years and absence of adequate infrastructural agencies.

“Despite all their potential, majority of the youth are unable to create any impact on the industrial scenario of Manipur, added Rishikumar.

Though the people of Manipur have shown great passion to start their own small and micro enterprises, but it has been over 2 decades since MANIDCO stopped financing to aspiring entrepreneurs because it owed Rs 5 crores to Small Industrial Development Bank of India and another Rs 2.95 crores to IDBI.

Rishikumar further said that if some of these amounts indebted to MANIDCO are paid back by the Government of Manipur, many people would certainly apply to MANIDCO for loans.

He also stated the need for setting up industrial estates in all districts of Manipur while welcoming the Government of India’s approval for setting up two industrial estates in Thoubal and Bishnupur districts apart from the existing Takyel Industrial Estate.

“AMEA would be submitting a memorandum to the Chief Minister and the Industries Minister highlighting the industrial scenario of Manipur and possible measures which can kick-start industrial growth in the State,” said Rishikumar.

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