To empower marginalized communities, the National Minorities Development and Finance Corporation (NMDFC) and the Dalit Indian Chamber of Commerce and Industry (DICCI) are set to sign a Memorandum of Understanding (MoU) on December 7, 2024, in New Delhi. The collaboration aims to promote entrepreneurship as a key tool for socio-economic upliftment among these communities.

The MoU signing ceremony will be graced by Kiren Rijiju, Union Cabinet Minister for Minority Affairs and Parliamentary Affairs, at the Nalanda Hall of the Dr. Ambedkar International Centre. The event will also witness the presence of key figures such as Dr. Chandra Shekhar Kumar, Secretary of the Ministry of Minority Affairs, Padma Shree Dr. Milind Kamble, Chairman of DICCI, and Dr Abha Rani Singh, CMD of NMDFC, along with other senior officials.

This partnership between NMDFC and DICCI is poised to bring a transformative shift in the empowerment of minority and marginalized communities. By pooling together their expertise and resources, the two organizations aim to foster inclusive growth, self-reliance, and entrepreneurship, contributing to the vision of an “Atmanirbhar Bharat.” The focus is on turning individuals into job creators and role models, thereby positively impacting lives and communities across the country.

Since its inception in 1994, NMDFC has played a pivotal role in improving the economic conditions of over 24 lakh families from minority communities. The organization has disbursed credit support exceeding Rs. 9,000 crore to facilitate self-employment and income-generating activities. On the other hand, DICCI has been at the forefront of encouraging entrepreneurship among marginalized groups, helping develop business leadership and fostering sustainable growth opportunities.

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The partnership aims to:

1. Create Awareness: Promote entrepreneurship as a viable pathway for economic development.
2. Provide Credit Support: Enable entrepreneurs to establish ventures that can generate employment and economic benefits.
3. Advocate for Policy Reforms: Support sustainable business practices and the implementation of effective policies at the grassroots level.
4. Inspire Youth: Encourage young individuals to consider entrepreneurship as a fulfilling and rewarding career.

As part of the MoU, NMDFC will offer concessional credit to entrepreneurs identified by DICCI, empowering them to establish their businesses and contribute to the nation’s economic growth. Both organizations will also work on awareness campaigns and advocate for policies that support sustainable development.

What are “marginalized communities,” and why is their empowerment important?

Marginalized communities are groups excluded from mainstream society due to factors like race, caste, gender, or socioeconomic status. Empowering these communities is vital for promoting social justice and equal opportunities, and helping break cycles of poverty and discrimination. This fosters inclusive growth, allowing everyone to contribute to and benefit from a more equitable society.

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