NEHHDC & Tide partner to upscale local SMEs of Northeast India

By Gloria Mathias

Tide, the UK’s SME-focused financial platform, has signed into an MoU with Northeastern Handicrafts and Handlooms Development Corporation (NEHHDC).

Following the year-long partnership, Tide will leverage its expertise and knowledge to bolster scalability, promote financial inclusion and enhance market reach for the community.

The partnership comes at the helm of NEHHDC’s technology and innovation drive, which includes projects for digitalising the handloom sector using Artificial intelligence (AI) and the Internet of Things (IoT) and ERP implementation for inventory tracking and mapping, among others.

The platform will help in the financial and digital inclusion of weavers and artisans from the region and host mentor panels and masterclasses with in-house experts in leadership, marketing, capital investment, hiring and payroll, taxation, and legal, among others. The company will also help the community network and build capabilities through a series of annual national-level SME events.

This partnership will help elevate Tide’s India Chapter of ‘Women in Business’ and enable women handloom weavers across Northeast India to benefit from the mentoring and knowledge-sharing sessions to help grow their businesses and overcome administrative challenges.

Gurjodhpal Singh, CEO, Tide India said, “Our partnership comes at a time when the Government of India has been pushing digitalisation of the handloom and handicraft industry. We are proud to partner with NEHHDC. We are confident that our initiative will help enhance financial inclusion for these businesses and create newer avenues to increase business opportunities and boost Indian art and heritage.”

NEHHDC works under the Ministry of Development of Northeastern Region (DoNER), Government of India and attempts to develop and promote the region’s indigenous crafts by connecting craftsmen to prospective markets and consumers.

Brigadier Rajiv Kumar Singh (Retd) Managing Director, NEHHDC said, “The MoU between NEHHDC and Tide India will be a game changer wherein by providing nano entrepreneurs with the necessary tools, knowledge, and resources to effectively plan and manage their finances, a crucial aspect of their success will be addressed. The collaboration aims to have a positive impact on the Northeast region’s entrepreneurial ecosystem.”