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Innovation imperative for survival of SIDCs, SFCs: MD SIDCO

Innovation imperative for survival of SIDCs, SFCs: MD SIDCO

Excelsior Correspondent
JAMMU, Feb 12: Managing Director J&K SIDCO Amit Sharma who happens to be National Vice-President of Council of State Industrial Development and Investment Corporations of India (COSIDICI) which is the Apex Body of all states’ SIDCs and SFCs, attended COSIDICI Executive meeting and National Awards function at Indore.
The major focus of all COSIDICI Member states was to make these critical corporations self-reliant and more professional in times to come for their survival and resurgence as a stepping-stone in taking industrial and investment sectors of the nation to new heights.
Amit Sharma, MD J&K SIDCO, during COSIDICI EC Meeting talked about adoption of innovative approach towards making these PSUs more vibrant and self-sustaining while sharing few novel initiatives being taken by J&K SIDCO in this behalf.
He talked about the innovative steps being taken in various industrial estates like setting-up of a NIFT Campus at Ompora, Budgam, creating a Technology Centre at IGC Samba, Phase-III and setting-up of a Bio-Technology Park at Ghatti Kathua, apart from routine industrialization plans to set-up food parks, etc.
He also talked about the ongoing financial restructuring exercise of J&K SIDCO which shall help in cleaning up its balance sheets and expanding its equity base in times to come.
Sharma also mentioned about re-inventing the wheel by utilizing SIDCO’s and SFC’s own resources in creating new land banks which in turn, help in creation of new Industrial Estates and result into more industrialization, ample job opportunities for unemployed youth, more income for respective Corporations and immense contribution towards GDPs of respective states.
COSIDICI National President Smita Bhardwaj MD, MPFC hosted this event at Indore this year.
Others who talked during the function were MD Goa SIDC, MD Kerala SFC, GM Rajasthan SFC, GM TIIC, Renu Seth Secretary COSIDICI, etc.
Few contemporary success stories were also shared during the event here about top business houses of the nation like Infosys and others who happened to get initial loans from respective state SFCs and touched peak of business in future. Also, few lady entrepreneurs who were honoured with National Awards in this event had got immense support from state SFCs like one success story of a woman entrepreneur of West Bengal who left her teaching job in mid-forties and became a very successful entrepreneur after getting push from WB SFC.
Before culmination of meeting, it was also decided that next Award Ceremony and EC Meeting of COSIDICI will be held at Goa.

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