The National Small Industries Corporation Limited (NSIC) signs the Memorandum of Understanding (MOU) with Ministry of Micro, Small and Medium Enterprises (MSMEs) for the year 2018-19. The MOU was signed by Shri. Ravindra Nath, CMD, NSIC with Dr. A.K. Panda, Secretary, MSME, Govt. of India in the presence of Ms. Alka Nangia Arora, Joint Secretary, MSME, Dr. P.G.S. Rao, Director (MSME), Shri. P. Udayakumar, Director (P&M) NSIC and Shri. A.K. Mittal, Director (Finance) NSIC.
NSIC Signs MOU with Ministry of MSME for the Year 2018-19
The said MOU envisages provision of enhanced services by NSIC under its Marketing, Financial, Technology and Other support services schemes, for MSMEs in the country. The Corporation projects to increase its total business by 21.30% from Rs. 22,258 crore in the year 2017-18 to Rs. 27,000 crore in the year 2018-19. Corporation also projects growth of 15% in ‘Revenue from Operation’ and 22% in ‘Profitability’ during the year 2018-19. NSIC also plans to enhance its activities in the areas of imparting entrepreneurship and skill development training by targeting 15% growth in the number of trainees.
Under the scheme of National SC-ST Hub, being implemented by NSIC on behalf of the Ministry, NSIC’s continued endeavour shall be to prepare SC/ST entrepreneurs avail enhanced benefits under Public Procurement for which NSIC undertakes to conduct special VDPs, engage with CPSEs, organize Regional Conclaves etc.
Dr. A.K. Panda, Secretary, MSME, while appreciating the performance of NSIC, urged the Corporation to create niche activities for itself. He also suggested that greater efforts be made to expand reach of NSIC so as to serve larger number of MSMEs.
Further, Shri. Ravindra Nath, CMD, NSIC also informed that special focus will be given to modernize its Technical centres so as to strengthen its vertical of Training and Testing Services for MSMEs.