The Centre has been involved in developmental efforts for SMEs in Uttarakhand, with the RBI taking considerable measures to help enhance exports from the State.
In response to their efforts, the State has now decided to take measures to build an export promotion council (EPC). The Director of Industries in Uttarakhand, Sudhir Nautiyal, as quoted by SME Horizon, said: "When the RBI is showing so much effort, it becomes the endeavour of the state government to set up an export promotion council.”
Nautiyal added: "Let the assembly elections in the state be over, we will soon hold discussions for setting up such export council."
He even mentioned that the RBI had recently held a meeting with the sub- committee of state level bankers to discuss the setting up of the EPC in the State.
The meeting was chaired by the Deputy General Manager of RBI, Anup Kumar, who said: "Under the new policy of RBI, all the banks are required to appoint nodal officers who can facilitate exports and related financial matters."
The main aim of the meeting was to have an open forum for discussion between the RBI and the SME representatives in the State. The representatives present threw light on the problems that they as exporters were facing giving the RBI all the information they required to make a comprehensive decision on possible solutions to the problems faced by the industry.
During the meeting, the President of the Indian Association of Uttarakhand (IAU), Pankaj Gupta made a suggestion to the sub-committee on capping the interest rate for the MSME sector at seven percent and providing a three percent interest subvention for the labour-intensive units of the export sector and MSMEs.