- Accelerate overall economic growth of the state through small & cottage industries initiatives.
- Poverty alleviation through creation of sustainable livelihood/employment opportunities.
- Ensure optimum utilization of available natural and human resources .
- Entrepreneurs development through counseling and training
- Extend credit facilities to the potential entrepreneurs from ADP, corporation’s own funds, through Banks & linkages.
- Preparation of development plans (PC-I) and projects, implementation, execution, monitoring & evaluation for promotion of Small & Cottage Industrial Sector.
- Innovation and adaptation of appropriate technology in small & cottage industrial sector.
- Compilation and dissemination of technical and other information guiding/steering investment, production and marketing of small & cottage industrial sector.
- Conduct research, studies and surveys in the small & cottage industrial sector.
In accordance with the provisions of the Act of AKSIC, the Corporation shall take such measures as it deems fit to render assistance in the establishment and
development of small, cottage and other industries.
In particular and without prejudice to the generality of the fore-going function, the Corporation may, in order to promote and carry out the purpose of this Act:-
(a) give loans in cash, or in kind or in the form of buildings, developed plots of lands in the small industries estates or machinery and equipment on lease or on hire purchase basis, to borrowers for the purpose of small, cottage and other Industries: and
(b) furnish guarantees to the Scheduled Banks and financial institute for the payment of loans to borrowers for the development of industries and to share losses on account of bad debts in accordance with the agreements executed or made in this behalf between the Corporation and such Banks/Institutes.
- Training programs to generate skilled manpower in small/cottage industries and Handicrafts as per potential.
- Credit Assistance to the small enterprises in the private sector to supplement poverty alleviation strategy of the Government.
- Supporting micro sector through a marketing network of Handicrafts Shops and Craft Development Centers.
- Organizing fairs, exhibitions, sales and display of products.
- Procuring and distributing raw material, machinery, tools & kits providing to the skilled/unskilled artisans for training/production purposes.
- Strengthening of small industries through development of clusters.