The State Industries Development Corporations (SIDCO) are set up in various states under Companies Act, 1956 .
To cater to the primary development needs of micro, small and medium and village industries in the state.
There are 28 SIDCOs in India.
The SIDCO primarily performs the following functions in the state:
1. Providing assistance in terms of term- loans
2. Preparation of feasibility report
3. Underwriting direct subscription to shares and debentures and guarantees.
4. Conducting industrial potential surveys
5. Conducting Entrepreneurship Development Programmes.
6. Developing industrial estates/ industrial parks to provide a number of facilities at one place.
7. Providing technical guidance
8. Providing assistance in plant locations and co-ordination with other agencies.
9. Equipment leasing and merchant banking services
10. Assistance in procuring some scare key raw materials like iron and steel, paraffin wax, fatty acids and potassium chlorides etc.
11. Proving financial assistance in the form of subsidies to industrial units in backward areas.
12. Margin money assistance for rehabilitation of sick SSIs
13. Marketing assistance to small enterprises.
14. Trade fair and exhibitions for marketing the products of MSME sector
15. Promoting exports through Export Houses.