NSIC signs MoU with Ministry of MSME for the Year 2015-16

New Delhi: National Small Industries Corporation (NSIC) signed a Memorandum of Understanding (MOU) with Ministry of Micro, Small and Medium Enterprises (MSMEs). The MOU for the year 2015-16 was signed by Shri Ravindra Nath, CMD, NSIC with Shri Madhav Lal, Secretary, MSME here today.

The said MOU envisages provision of enhanced services by NSIC under its Financial, Marketing, Technology Services and other support services schemes for MSMEs in the country. The MoU projects growth of 15%-20% in the operational performance of the Corporation during the year 2015-16. The key elements of the MOU for 2015-16 inter-alia include:

• Raw Material Distribution to the tune of Rs. 21000 crore in 2015-16 as against Rs. 18000 crore in the year 2014-15.
• Preparing MSEs to avail enhanced benefits under ‘Public Procurement’ through consortia formation, conducting vendor development program and providing tender information to facilitate in tender participation.
• Adoption of 10 clusters to extend benefits of NSIC’s Schemes to the MSMEs operating from such clusters.
• Facilitate MSMEs in their marketing efforts through mobilising greater membership under e-marketing portal-www.msmeshopping.com.

Further, Shri Ravindra Nath, CMD, NSIC informed that special focus will also be given by NSIC to enhance the entrepreneurship and skill development activities through setting up livelihood incubation centres under the Scheme for “Promotion of Innovation, Entrepreneurship and Agro- Industry” of Ministry of MSME.

Present during the MoU signing ceremony were Shri S.K. Tripathi, Joint Secretary, MSME, Shri P. Udaya Kumar, Director (P&M), NSIC and Shri Jitesh John, Director, MSME.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.