Delhi to become AI city; to launch single window facility for MSMEs: Delhi Minister Saurabh Bhardwaj

New Delhi: Aam Admi Party leader, Saurabh Bhardwaj on Tuesday laid out plans to build the country's first Artificial Intelligence (AI) city in Delhi, along with launching a single window facility for MSMEs.

In a bid to promote micro, small, and medium enterprises (MSME) globally, the CII MSME Summit was held in the national capital, which saw the participation of Delhi Minister and AAP leader Saurabh Bhardwaj; advisor to the Delhi Government, Gopal Mohan, and various other prominent industrialists.

While addressing the summit, Saurabh Bhardwaj announced the idea of making Delhi an AI city, a first of its kind in India, and shared that the government has taken its first step by approving the outlines and layout for establishing 147-acre eco-friendly technology parks, mainly focusing on electronic design, refurbishment, warehousing, and plug-and-play facilities.

He also shared the various key initiatives and future plans to empower MSMEs in Delhi.

Gopal Mohan, during the summit, shed light on the industry department's initiatives to launch a single-window facility for Delhi's MSMEs for ease of doing business and increasing transparency in order to deliberate on the challenges faced by the sector.

Ranjit Singh, Special Commissioner, Department of Industries, GNCTD, shared about the launch of "Delhi Bazar," a dedicated platform for MSMEs in Delhi to showcase and sell their products directly to consumers without incurring any commission fees.

The initiative facilitates market access and empowers MSMEs to reach a wider audience, fostering their economic growth. Furthermore, he also informed about the collaboration with SIDBI (Small Industries Development Bank of India) to bolster the financial resilience of MSMEs.

This partnership offers a unique funding scheme where SIDBI shoulders 75 per cent of the loan amount, GNCTD contributes 15 per cent, and the MSME unit bears a minimal 10 per cent.

The CII MSME Summit in Delhi witnessed the attendance of MSMEs from Delhi and international speakers. The summit saw deliberations on the potential MSMEs have and how they can become more resilient by expanding to international markets, leveraging resources, and innovating to cater to the vision of India@100.

MSMEs have traditionally been the major part of the Indian business ecosystem ever since India became independent in 1947. (ANI)