Ministry of MSME signed an MoU with NSIC

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The National Small Industries Corporation Limited (NSIC) has signed a Memorandum of Understanding (MOU) with Ministry of Micro, Small and Medium Enterprises (MSME) for the financial year 2018-19.

  • The MoU was signed by Ravindra Nath, CMD of NSIC and Dr. A.K. Panda, Secretary, MSME.
  • The MoU aims to enhance the services by NSIC under its marketing, financial, technology and other support services schemes, for MSMEs.
  • It projects to increase its total business by 21.30 percent from Rs. 22,258 crore in the year 2017-18 to Rs. 27,000 crore in the year 2018-19.
  • NSIC also plans to enhance its activities in the areas of imparting training in the fields of entrepreneurship and skill development by targeting 15 percent growth in the number of trainees.
  • NSIC will give special focus on modernizing its technical centres in order to strengthen its training and testing services for MSMEs.
  • NSIC also projects growth of 15 percent in ‘Revenue from Operation’ and 22 percent in ‘Profitability’ during the year 2018-19.