Guwahati: Indian Chamber of Commerce (ICC) North-East Initiative has informed the Assam government that it would want to undertake initiatives for entrepreneurs from remote corners toward a sustainable entrepreneurial journey.

A delegation of the Indian Chamber of Commerce (ICC) North-East Initiative, met with Bimal Borah, Minister, Industries, Commerce & PE Deptt, Assam to discuss various initiatives planned by ICC-NE in the forthcoming days for the upliftment of the trade, commerce, and industry sectors of Assam.

The Indian Chamber of Commerce-North-East Initiative today signed an MoU with North Eastern Development Finance Corporation Ltd (NEDFi) to jointly work to promote investment in Assam and the North East States of India and contribute towards the various initiatives aimed at reforms, policy advocacy, ease of doing business, market linkages and promotion of sustainable business practices, etc. in Assam and North-East India and linking the region with the wider contemporary economic perspective of India.

The MoU aims at reaching a mutual understanding and promoting collaboration on catalyzing economic development of the North Eastern Region of India, promoting entrepreneurship through effective mentoring, skill development and capacity building of the micro, small and medium enterprises.

The delegation was led by Shri Sarat Kumar Jain, Chairman, ICC Assam State Council, along with Shri Ishantor Sobhapandit, Regional Director-NER, ICC, and Shri Pranom D. Mazumdar, Deputy Director, ICC-NE.

The delegation submitted an action plan and recommendations for the next year and the next five years in the industry and commerce sector of Assam, highlighting the issues and recommendations from the Indian Chamber of Commerce.

Sarat Kumar Jain informed the Minister of the past and recent initiatives undertaken by ICC to connect the business community of Assam with the business fraternity of mainland India and the neighboring countries of Assam.

Ishantor Sobhapandit informed the Minister that ICC would want to undertake initiatives for entrepreneurs from remote corners towards a sustainable entrepreneurial journey.

Sarat Kumar Jain emphasized to the Minister the facilitation of infrastructure for Intellectual Property Facilitation Center (IPFC) for MSMEs in every district of the NE States on trademarks, copyrights, industrial designs, geographical indications, patents both national and international, industrial/layout designs, and service marks along with incentive schemes.

He also suggested establishing and strengthening infrastructure for Livelihood Business Incubators (LBI) in every district of Assam to promote self-employment and give the opportunity to get trained for wage employment.

He informed that ICC would like to work towards supporting infrastructure for the implementation of cluster development approach, and providing guidance and assistance to the clusters by way of training, handholding, implementation, monitoring, mapping, and research and information dissemination. The initiative shall include awareness program on cluster development for state industry officials. Mr. Jain also stressed on Infrastructure Development in MSME Clusters through Public Private Partnership.

Sobhapandit also stressed on Implementation of a scientific approach to project formulation and appraisal to assess credit needs of projects due to a shift from security-oriented to need-based and growth-oriented approach on the part of lending agencies.