Agartala: The State Institute of Public Administration & Rural Development (SIPARD), the Directorate of Industries & Commerce, and the Directorate of Skill Development on Tuesday signed a memorandum of understanding (MoU) with the National Stock Exchange (NSE) to enhance financial literacy, increase investor awareness, and provide securities market training to the state youths in order to generate employment and augment income.While the NSE will cover the costs associated with the programme, the state govt would facilitate the venues necessary for training, with the goal of boosting the employability of students and youths in capital markets, mutual funds, and the financial services sector, officials said.Chief minister Manik Saha said, “The partnership initiates a new era in Tripura’s pursuit of inclusive economic growth and reflects the state’s willingness to seize emerging economic opportunities.”“We have also partnered with Tata Technologies to upgrade 19 Industrial Training Institutes (ITIs), aiming to equip 5,000 candidates annually with skills that are ready for employment. Additionally, we have proposed the establishment of a foreign language school to enable our youth to seek opportunities in international capital markets,” he added.The collaboration would facilitate Micro, Small & Medium Enterprises (MSME), startups, and entrepreneurs in accessing opportunities in the financial and capital markets. Though MSMEs are crucial to Tripura’s economy, access to credit continues to be a major impediment. The govt has initiated a capacity-building programme for the around 2,15,000 MSMEs, of which around 45,000 are active, allowing them to access funding from capital markets, the CM stated.In contrast to bank loans, which require immediate collateral and periodic interest payments, equity capital provides MSMEs with the necessary funding to grow, invest in technology, and enter international markets. Operating in vital sectors such as rubber, tea, power generation, and tourism, businesses can harness capital markets to reveal untapped potential, Saha added.
