President AMEA S. Rishikumar said, ‘Manipur, a state with rich natural and human resources can be utilised in a positive way to boost up state economy but due to the negligence in the Industrial sector over last 6 decades, because of this Manipur still remain industrially backward. It is matter of discouragement that only one percent of the Gross Domestic Product of Manipur is accounted for by the contribution of registered industrial units. The above mention contribution is due to various factors including lack of infra-structures and geographical land lock. The Industrial sector became stagnant and unable to accelerate which affects the whole development scenario of the state i.e. in the field of income, unemployment and also in upbringing the new entrepreneurs. So the State Government should take stronger plans to develop new entrepreneur by strengthening all its wings including its state finance corporation and infra-structure development agencies. New entrepreneurs or educated potential youths are unable to get loan and other benefits since long back. Up growing entrepreneurs are hesitate to take risk as the State is thoroughly exhausted by insurgency, bands, blockades, etc. As entrepreneurs are the creator of the wealth, it is highly needed that the youth should be encouraged to become entrepreneurs and more number of entrepreneurs to set up their own enterprises in different tracks. Opportunities should be given to our young entrepreneur by giving loan facilities. The one and only state finance corporation, Manipur Industrial Development Corporation (MANIDCO) has defunct for over more than 2 decades and stop financing to entrepreneurs since 1991 which results to the degeneration of the industrial development and also discouragement of the entrepreneur. The big ones have been close while the small ones are getting crippled. So revival of MANIDCO is the need of the hour for development of industries and to boost the state economy. The state government should take initiative and immediate action with a strong political will to developed industries in the State. MANIDCO has due to pay 5 Crores to SIDBI and 2.95 Crores to IDBI. So due to the non payment of the dues since long back SIDBI/ IDBI has stopped financing to MANIDCO therefore, State Government should arrange fund for payment of SIDBI’s outstanding Rs.5 crore without further delay, so that, SIDBI/ IDBI may start release of fund further more for refinance of our entrepreneurs through MANIDCO’.
Read more / Original news source: http://manipur-mail.com/all-manipur-entrepreneursassociation-feels-industry-neglected/
