The Council of State Industrial Development and Investment Corporations of India (COSIDICI) yesterday held the 11th COSIDICI Award Function in Visakhapatnam honouring forty seven ‘Outstanding Entrepreneurs’ from across India.
Established in 1976 COSIDICI is the National Federation of State Level Financial Institutions (SLFIs) comprising of 18-State Financial Corporations (SFCs), 29-State Industrial Development Corporations (SIDCs) and 9-State Industrial Infrastructure & Investment Corporations (SIICs).
Of the 47 awards given, 11 entrepreneurs backed by Andhra Pradesh State Finance Corporation (APSFC) were honoured and recognized for their outstanding and exemplary achievements in the field of industrial development.
The awards were presented by Chief Guest Mr Kondapalli Srinivas, Minister for MSME, SERP, NRI Empowerment & Relations, Government of Andhra Pradesh along with Dr. N. Yuvaraj, IAS, Secretary to the Government (Industries & Commerce and Food Processing Department), Government of Andhra Pradesh, and Managing Director, APSFC, Mr M N Harendhira Prasad, IAS, Vizag’s district collector, Mr G.Sudhakara Babu, Director APSFC, Mr B.S. Pai Angle, Managing Director, EDC Ltd, Goa and Mr V. Raghunath, Vice Chairman & Managing Director, Andhra Pradesh Industrial Development Corporation (APIDC), Hyderabad.
Congratulating the winners, the Minister lauded the role of SFCs for playing a pivotal role in providing timely financial support to the plethora of MSMEs in the country.
Mr Srinivas also hailed the Chief Minister, Mr N Chandrababu Naidu’s one entrepreneur in every household initiative and said that the state government under his leadership is fostering and nurturing entrepreneurship and has thus formulated sector specific policies with attractive incentives.
The Winners
The 11 award winners from Andhra Pradesh included Usha Tubes & Pipes Pvt.Ltd (ATR Warehousing), Good Morning resorts both from Visakhapatnam, MNCY Hospitality & Godavari Fine Chem from Rajahmundry, Tagoor Agro Industries from Eluru, Siddhartha Innopack Industries Pvt Ltd from Vijayawada, Diehard Industries Pvt Ltd from Guntur, Sri Varnika Granites from Ongole, Honey Enterprises from Nellore, GTK Ice factory from Kadapa & Skanda Infra projects India Pvt Ltd from Kurnool.
In addition delegates from COSIDICI Member Corporations across various states were also in attendance, which greatly enhanced the overall stature and significance of this national celebration of entrepreneurial excellence.
About SLFIs
State Level Financial Institutions (SLFIs) were set up in the country soon after independence to help MSME sector by providing timely and adequate financial assistance as well as to widen the ownership base of industry by fostering entrepreneurship
The primary mandate of SLFIs is to finance and promote Micro, Small and Medium Enterprises (MSMEs) with the aim of fostering balanced regional growth, catalysing investment, generating employment, and widening the industrial ownership base by nurturing entrepreneurship.
