Assam Chief Minister Himanta Biswa Sarma on Monday asked the state Industry Department to frame a new industrial policy in order to promote local start-ups.

       As banks show reluctance to invest in start-ups, the government's support to them through a new policy will convince the financial institutions to come forward, he said.

       "The chief minister also urged the Industry Department to come up with a new industrial policy in 2021, synchronising with 75th year of India's independence, to support entrepreneurs," an official release said.

       The chief minister launched two programmes under the state's start-up incubation centre, 'The Nest', which was set up under Assam Start-Up Policy 2017.

       He stressed the need for young entrepreneurs to harness Assam's strengths in the agri-horticulture sector to scale up the eco-system for start-ups in a big way.

       Sarma asked the start-ups to focus on Assam's agri products such as 'Bhot Jolokia' (one of the hottest chillies of the world), tea, 'Kazi Nemu' (Assam lemon) and 'Joha rice' (local aromatic rice) to bridge the gap between farmers and buyers.

       "People in forest villages can also be helped through start-ups to provide eco-friendly earning opportunities," he said.

       Stating that 39 start-ups received government support through 'The Nest', which earned a Rs 42 crore revenue, the chief minister congratulated the start-ups for their success stories while lauding the effort of young entrepreneurs to achieve big at national and international stages.

       Speaking on the occasion, Industry and Commerce Minister Chandra Mohan Patowary said that the incubation centre has been taking giant strides towards success, with tie-ups between state and central PSUs being explored at present for supporting the trainees.

       (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)