Revive MANIDCO, say entrepreneurs
Source: The Sangai Express

Imphal, June 16 2013: The All Manipur Entrepreneurs' Association (AMEA) has urged the Government to revive the defunct Manipur Industrial Development Corporation (MANIDCO) for industrial growth in Manipur.

Speaking to media persons at Imphal Hotel today, AMEA president S Rishikumar observed that Manipur has seen little industrialisation even though it has been more than 60 years since India achieved independence.

Industrial sector remains a non-starter in Manipur primarily because of absence 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, Rishikumar lamented.

Even as many people have enough zeal and potential to set up small and micro industries, it has been more than 20 years since MANIDCO stopped extending loans to aspiring entrepreneurs.

MANIDCO stopped extending loans to entrepreneurs because it owed Rs 5 crores to Small Industrial Development Bank of India and another Rs 2.95 crores to IDBI.

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

Welcoming the Government of India's approval for opening two industrial estates in Thoubal and Bishnupur districts apart from the existing Takyel Industrial Estate, Rishikumar highlighted the need for opening such industrial estates in all districts of Manipur.

Expressing AMEA's desire for establishment of an industrial zone to accommodate workshops run by entrepreneurs.

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, Rishikumar added.

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