The National Minorities Development and Finance Corporation (NMDFC), under the aegis of the Ministry of Minority Affairs and the Dalit Indian Chamber of Commerce and Industry (DICCI) would sign a Memorandum of Understanding (MoU) to promote entrepreneurship among marginalized communities on December 7, 2024 at New Delhi.

The event would be presided over by  Sh. Kiren Rijiju, Union Cabinet Minister for Minority Affairs and Parliamentary Affairs, at the Nalanda Hall, Dr. Ambedkar International Centre, New Delhi. Dr. Chandra Shekhar Kumar, IAS Secretary Ministry of Minority Affairs, Padma Shree Dr. Milind Kamble, Chairman, DICCI, Dr. Abha Rani Singh, CMD, NMDFC and other senior officers would be present.

The proposed partnership is expected to add a new dimension in the socio-economic empowerment of minorities and marginalized communities by combining the expertise and resources of NMDFC and DICCI to foster inclusive growth and self-reliance. The collaboration between NMDFC and DICCI would be a significant step towards building Atmanirbhar Bharat. Promoting entrepreneurship is empowering individuals to become job creators and role models, transforming lives and communities across the nation.”

NMDFC, with its mandate to provide concessional finance for self-employment and income-generation activities, has transformed the lives of over 24 Lakh families  belonging to minority communities since inception in 1994 with credit support exceeding Rs. 9,000 Cr.. DICCI, renowned for its efforts in fostering entrepreneurship among marginalized groups, has been instrumental in developing business leadership and creating opportunities for sustainable growth. Through this MoU, both organizations aim to:

• Create Awareness: Encourage entrepreneurship as a viable option for economic development.
• Provide Credit Support: Enable entrepreneurs to establish self-employment ventures that generate employment for others.
• Policy Advocacy: Facilitate sustainable business practices and ground-level implementation of policies for developmental results.
• Inspire Youth: Promote entrepreneurship as a rewarding career path for aspiring individuals.

As part of the MoU, NMDFC will provide concessional credit to entrepreneurs identified by DICCI, enabling them to establish businesses and contribute to economic growth. The collaboration also envisions conducting awareness programs and advocating for policy reforms to ensure sustainable development.

The partnership between NMDFC and DICCI is expected to serve as a model for collaborative efforts in empowering the marginalized sections of society. It underscores the importance of collective action in fostering inclusive and sustainable development.

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SS/PRK