NSIC signs MoU with MSME Ministry for 2019-20


New Delhi, May 28 (UNI) The National Small Industries Corporation Limited (NSIC) signed a Memorandum of Understanding with Ministry of Micro, Small and Medium Enterprises (MSME) for 2019-20.

The 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 Revenue from Operation by 22 per cent from Rs 2,540 crore in the year 2018-19 to 3100 crore in the year 2019-20.

NSIC also projects growth of 32 per cent 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 per cent growth in the number of trainees.

Under the scheme of National SC-ST Hub being implemented by NSIC on behalf of the Ministry of MSME, it will be a continued endeavour to provide assistance to SC/ST entrepreneurs through different interventions and various outreach activities with the overall objectives to increase their participation in public procurement.

The MoU was signed by Ram Mohan Mishra, AS & DC(MSME) and CMD (NSIC) with MSME Secretary Dr Arun Kumar Panda.

Dr Panda while appreciating the performance of NSIC, suggested that greater efforts should be made to expand the reach of NSIC so that it may serve larger number of MSMEs in the country, according to an official statement here on Tuesday.


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