NSIC signs MoU with Ministry of MSME

New Delhi: The National Small Industries Corporation Limited sings the Memorandum of Understanding with the Ministry of Micro, Small and Medium Enterprises (MSMEs) for the year 2018-19. The MoU was signed by Shri Ravindra Nath, CMS, NSIC with Dr. Arun Kumar 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 (Fin) NSIC.

 

The MoU envisages provision of enhanced services by NSIC under its Marketing, Financial, Technology and other support services schemes, for the MSMEs in the country. NSIC projects to increase its total business by 21.39% from Rs. 22,258 crore in the year 2017-18 to Rs. 27,000 Crore in the year 2018-19. NSIC also projects growth of 15% in 'Revenue' from opration and 22% in 'Profitability' during the year 2018-19. NSIC also plans to enhance its activites 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 enchanced to conduct special VDPs, engage with CPSEs, oraganize Conclaves etc.

 

Dr. Arun Kumar Pnada, Secretary, MSME, while appreciating the performance of NSIC, urged the Corporation to creat niche activites for itself. He also suggested that greater efferts to be made to expand reach of NSIC so as the serve larger no of MSMES.

 

Further, Shri Ravindra Nath, CMD, NSIC also informed that special focus will be given to modernize its Technology Centres so as to strengthen its vertical of Traning and Testing Services for MSMEs.