The National Small Industries Corporation Limited (NSIC) and Ministry of Micro, Small and Medium Enterprises (MSME) signed a Memorandum of Understanding (MoU) for the year 2019-20.
am Mohan Mishra, AS & DC(MSME) and CMD (NSIC) signed the MoU with Dr. Arun Kumar Panda, Secretary, MSME, in the presence of Alka Nangia Arora, Joint Secretary, SME, Mercy Epao, Director (SME), P. Udaya kumar, Director -P&M (NSIC) and A.K. Mittal, Director-Finance (NSIC).
The objective of the MoU is to provide enhanced services by NSIC under its marketing, financial, technology and other support services schemes for MSMEs in India.
“The Corporation aims to increase Revenue from Operation by 22 percent from Rs 2540 crore in the year 2018-19 to Rs 3100 crore in the year 2019-20. NSIC also projects growth of 32 percent in Profitability during the year 2019-20. The Corporation also plans to enhance its activities in the areas of imparting entrepreneurship and skill development training by targeting 45% growth in the number of trainees,” mentioned a statement issued by MSME.
Under the scheme of National SC-ST Hub, NSIC will provide assistance to entrepreneurs belonging to SC and ST categories through different interventions and various outreach activities with the overall objectives to increase their participation in public procurement.