National Institute of Entrepreneurship and Small Business Development (NIESBUD), which comes under the Ministry of Skill Development and Entrepreneurship (MSDE) will develop a sustainable model to promote entrepreneurship in rural areas by initiating the Start-up Village Entrepreneurship Programme (SVEP). It aims to support entrepreneurs in rural areas to set up enterprises at the village level in non-agricultural sectors.
The partnership will enable the rural community by helping them set up their trades and provide complete support till they are established. It will provide knowledge, advisory and financial support to the public to create village-level community cadre.
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Rural entrepreneurs will be able to access banking systems for receiving financial support for starting their enterprises, including support from MUDRA bank. Integrated ICT techniques and tools will also be provided for training and capacity building as well as enterprise advisory services to create an entrepreneurship ecosystem in India’s villages.
SVEP is a sub-component of Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) of the Ministry of Rural Development. NIESBUD has signed a Memorandum of Understanding (MoU) with the Ministry of Rural Development (MoRD) to undertake the initiative.
Commenting on the partnership, Rajesh Aggarwal, Secretary, Ministry of Skill Development and Entrepreneurship said rural entrepreneurship can play a significant role in the overall economic development of India by providing employment opportunities to those living in rural or remote geographies.
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He added that Prime Minister Narendra Modi had earlier said that Indians should dream of becoming job creators from job seekers. “In this regard, SVEP will help create an innovative ecosystem, accelerating economic and social gains at the community level,” said Aggarwal.
He further informed that the scheme also aims to build an inclusive society by providing equal opportunities to all along with the required financial support. He said that the initiative will help in training the rural community and will provide them with the necessary resources for entrepreneurship to increase their income and will pave the way for building Aatmanirbhar Bharat.
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