NSIC MoU with MSME Ministry; Plans to enhance activities in imparting entrepreneurship and skill development

Viewing to provide enhanced services in the marketing, financial, technology and other support services schemes for MSMEs in the country, the National Small Industries Corporation ltd has signed the MOU with the MSME sector for 2019-20, heading to increase the revenue form operations.

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“NSIC 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”, the statement reported.

The Corporation, as mentioned projects to increase income operability by 22 per cent from Rs 2540 crore in the year 2018-19 to 3100 crore in the year 2019-20. It also projects growth of 32 per cent in profitability during the year.

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

Dr A.K. Panda of 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.


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