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NMDFC and DICCI join hands to empower marginalized communities through entrepreneurship

Published: Dec 09, 2024

By TIOLCorplaws News Service

NEW DELHI, DEC 09, 2024: THE National Minorities Development and Finance Corporation (NMDFC) and the Dalit Indian Chamber of Commerce and Industry (DICCI) today signed a Memorandum of Understanding (MoU) to promote entrepreneurship among marginalized communities. The ceremony took place in the esteemed presence of Kiren Rijiju, Union Cabinet Minister of 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 were also present.

This 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. Speaking on the occasion,Minister Kiren Rijiju emphasized, "This collaboration between NMDFC and DICCI is a significant step towards building an Atmanirbhar Bharat. By promoting entrepreneurship, we are 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.

Padma Shree Dr.Milind Kamble, Chairman, DICCI expressed gratitude to   Kiren Rijiju ,Minister of Minority Affairs for his impetus to work out collaboration between NMDFC and DICCI to promote entrepreneurship amongst the marginalized communities and mentor business persons amongst them. He assured that DICCI is committed to help and nurture such individuals in collaboration with NMDFC so that they instead of seeking jobs from Government, become employers.

Dr. Chandra Shekhar Kumar, Secretary, Ministry of Minority Affairs, lauded the initiative, stating, "This partnership symbolizes the convergence of resources and vision for the betterment of society. It is not just about supporting individuals but creating an ecosystem that fosters growth and inclusion."

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.

Dr. Abha Rani Singh, CMD, NMDFC, remarked that the MoU is a step forward in our mission to empower marginalized communities. "Together with DICCI, we aim to nurture entrepreneurial talent, provide the necessary support, and inspire many more to follow this path.", she said.

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. The event concluded with the ceremonial signing of the MoU, symbolizing the beginning of a promising journey toward economic and social empowerment.

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