AIMS AND OBJECTIVES OF THE COUNCIL OF STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORPORATIONS OF INIDA (COSIDICI)

Cosidici is a national federation of State Level Financial Institutions comprising State Financial Corporations (SFCs), State Industrial Development Corporations (SIDCs), State Industrial Investment Corporation and State Infrastructure Development Corporatons,engaged in promotion, development and financing of industry mainly in the small and medium sector. Cosidici is a registered Society under the Societies Registration Act, 1860 and has its own office in the Scope Complex, New Delhi. The objectives of the Cosidici are to : 

  • provide and arrange means and facilities for dissemination of knowledge and information relating to promotion and development of industries, for exchange of views and ideas on subjects of common interest to all Member Corporations.
  • promote, protect and develop common interests of the various Member Corporations.
  • establish and maintain at the Registered Office a Commercial and Technical Library and Information Centre for use of Member Corporations.
  • co-operate with various institutions and organisations in India and abroad in the collection and exchange of information pertaining to industries.
  • sponsor professional, technical, management, marketing and other programmes and services for the benefits of the Member Corporations.
  • sponsor studies, surveys, research and development projects pertaining to industries.
  • promote co-ordination, collaboration, joint participation and general understanding among the Member Corporations.
  • organise common service facilities, courses, seminars, meetings and study tours for the benefit of the Member Corporations.
  • institute awards for outstanding and meritorious performance in the activities connected with development of industries.
  • seek representation for the Member Corporations on Government sponsored committees, councils, bodies, term lending institutions, teams etc. connected with the development of industries.
  • render assistance to Member Corporations in their efforts to improve efficiency of operations of their assisted and sponsored units.
  • establish contacts, relations with trade organisations, associations, Chambers of Industries or Commerce of India and abroad in furtherance of the objectives of the COSIDICI.
  • liaise with and to represent to the Central and State Governments, the term lending and other financial institutions on the common problems and issues of the Member Corporations.
  • co-operate and affiliate, if necessary, with other similar bodies, institutions associations in India and abroad with the intention of furthering the objectives of the Cosidici.
  • do all such other things as may be incidental or conducive to the attainment of the above objectives.
COSIDICI provides a common platform to the aforesaid State Level Financial Institutions (SLFIs) for ventilating their problems and grievances to the Government and All- India Financial Institutions and serve as a mouthpiece of the sector for influencing the policies of the Government / National Financial Institutions. Ever since its inception in 1976, Cosidici has been playing its role commendably and has significantly produced the desired impact on the growth of the SLFI sector by providing training programmes for senior executives of its Memeber Corporations as well as offering and conducting consultancy/advisory services, studies in specific areas with a view to bringing about enhancement in managerial and organisational skill to the Member Corporations. 

The website launched by COSIDICi ( URL No. http://www.cosidici.com) on 7th April, 2000 contains comprehensive information regarding promotional and development scheme of the State Corporations for setting up of industries and is aimed to serve as a useful guide to the potential investors from inside and outside the country which also indicates state-wise investment opportunities and incentives available to the prospective entrepreneurs.