Gangtok, June 24(IPR): The Credit Outreach Facilitation Unit (COFU), with the support of the Commerce & Industries Department, Government of Sikkim, organised a day-long workshop titled UDYAMI SAHAYOG focusing on entrepreneurship awareness, financial literacy, and business development, today.
The workshop covered key areas including government subsidy and loan schemes, credit linkage and financial assistance, GST-related guidance, preparation of Detailed Project Reports (DPRs), business planning, registration procedures, and regulatory compliance. The session aimed to equip aspiring and existing entrepreneurs with the knowledge and resources necessary to establish and expand their enterprises while promoting sustainable livelihood opportunities.
In her inaugural address, Special Secretary, Commerce and Industries Department, Ms Choden Gyatso, highlighted that the workshop was the first of its kind in the State. She elaborated on the objectives of the programme, stating that it was designed to create awareness about the various schemes and initiatives offered by different departments. She further emphasised that the workshop would provide participants with insights into the schemes available through the Credit Outreach Facilitation Unit (COFU) and the range of support services extended by the unit to aspiring and existing entrepreneurs.
Assistant Commissioner, Commercial Tax Department cum Chartered Accountant, Ms Archana Bhattarai, highlighted the importance of business registration, GST compliance, bookkeeping, trade licensing, and proper record-keeping. She emphasised the role of these essential practices in ensuring legal compliance, financial transparency, and the smooth functioning and growth of enterprises.
In his address, AGM, SLBC, Mr Gopal Lama, provided a comprehensive overview of the various financial products and services offered by banks. He elaborated on the range of banking facilities available to entrepreneurs and individuals, while also highlighting the initiatives and programmes undertaken by banks to promote financial inclusion, credit accessibility, and business development.
Branch Manager, Bank of India, Mr Nitesh Kumar Singh, provided a detailed overview of the various financial products and services offered by Bank of India.
Branch Manager, SLICE Bank, Mr David Sharma, highlighted the significance of Udyam Registration for entrepreneurs and small businesses. He explained the various financial products and services offered by Small Finance Banks, including current and savings account. He further emphasised the role of COFU as a vital link between customers and banks, facilitating access to financial products, services, and credit opportunities.
In his address, FSSAI, Expert, Mr Netesh Poudyal, provided a detailed overview of FSSAI registration procedures, food safety standards, and packaging requirements. He emphasised the importance of complying with regulatory guidelines to ensure food quality, consumer safety, and adherence to statutory norms for food business operators.
In her address, Senior Officer, COFU, Ms Hemala Rai, provided an overview of the role and functions of COFU. She highlighted that the unit was established to support entrepreneurs, particularly in the North Eastern region, in setting up and expanding their businesses through various forms of assistance. She informed that COFU facilitates the preparation of Detailed Project Reports (DPRs), conducts financial literacy camps, and provides guidance throughout the documentation and credit linkage processes. She further elaborated on the UDYAMI SAHAYOG programme, outlining its objectives and its significance in promoting entrepreneurship, financial inclusion, and sustainable livelihood opportunities.
In his presentation, Senior Officer, COFU, Mr Aashish Gurung, provided a detailed overview of the various government loan schemes available. He elaborated on government-backed subsidy and credit schemes, explaining the eligibility criteria, application procedures, and benefits associated with them. He also guided participants on the process of securing loans ranging from small-scale financial assistance to larger business loans, highlighting the avenues available for entrepreneurs to access institutional credit for business development and expansion.
The Vote of Thanks was proposed by Under Secretary, Commerce and Industries Department, Mr Rigzen Bhutia, who also briefed the gathering on Sikkim Rise, an initiative aimed at identifying and nurturing aspiring entrepreneurs in the State. He informed that the initiative provides participants with access to mentorship, incubation support, innovation guidance, and opportunities for exposure.
Also present were, Team Leader, COFU, Ms Triptina Rai, Senior Officer, COFU, Mr Yogesh Lama, Entrepreneurs, members from SHGs and other dignitaries.
Report from DIO-GANGTOK