NMDFC, NSIC Sign MoU to Strengthen Minority Entrepreneurs and MSMEs

New Delhi: The National Minorities Development and Finance Corporation (NMDFC) and the National Small Industries Corporation (NSIC) today signed a Memorandum of Understanding (MoU) in New Delhi aimed at strengthening entrepreneurship, market access and institutional support for minority entrepreneurs and micro, small and medium enterprises (MSMEs) across the country.

NMDFC, a Central Public Sector Enterprise under the Ministry of Minority Affairs, provides concessional finance to promote self-employment and income-generating activities among notified minority communities. NSIC, a Central Public Sector Enterprise under the Ministry of MSME, has been supporting MSMEs since 1955 through integrated services covering marketing, technology, finance, skill development and digital enablement.

The MoU seeks to create a collaborative ecosystem by leveraging the schemes and platforms of both organizations. The partnership will support minority entrepreneurs through entrepreneurship training, business handholding, digital and e-commerce enablement, enhanced market linkages and improved access to concessional credit.

Under the agreement, NSIC will facilitate marketing and digital support for NMDFC beneficiaries through initiatives such as MSME Global Mart with subsidy support, onboarding on the Open Network for Digital Commerce through the Trade Enablement and Marketing Initiative, AI-enabled product cataloguing and export-related assistance under the Ministry of MSME schemes. NSIC will also provide skill development, capacity building and entrepreneurship training through its Technical Service Centres.

NMDFC will promote NSIC schemes among its beneficiaries, sponsor Entrepreneurship Development Programmes conducted by NSIC nationwide and extend concessional credit support to eligible entrepreneurs, including participants emerging from NSIC training programmes. Both organizations will jointly conduct awareness campaigns, capacity-building sessions and grassroots outreach activities.

The MoU was signed by Shri Vidya Sagar Singh, Senior General Manager of NSIC, and Shri Nixon Mathur, Deputy General Manager of NMDFC, in the presence of the Chairman and Managing Directors of both organizations, along with Directors of Planning, Marketing and Finance from NSIC and senior officials from both institutions.

The NMDFC–NSIC partnership is expected to significantly expand opportunities for minority entrepreneurs, promote employment generation and contribute to inclusive and sustainable economic growth in alignment with the national vision of Viksit Bharat at 2047.