MOU signed between NSIC and Ministry of MSME | Current Affairs, Current Affairs 2019

MOU signed between NSIC and Ministry of MSME

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The National Small Industries Corporation Limited(NSIC) today signed a Memorandum fo Understanding (MOU) with Ministry of Micro, Small and Medium Enterprises (MSME)for the year 2019-20.

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

The MOU signed between NSIC abnd MSME envisages provision of enhanced services by NSIC under its marketing, financial, technology and other support services schemes for MSMEs in the country.

The NSIC Corporation projects to increase revenue from operation by 22% from 2540 crore rupees in the year 2018-19 to 3100 crore rupees in the year 2019-20.

The Corporation also plans to boost its activities in the areas of providing entrepreneurship and skill development training by targeting 45% growth in the number of trainees.

National SC-ST Hub Scheme is being implemented by the NSIC on behalf of the Ministry of MSME.

Under this scheme NSIC’s continued effort will be made to provide assistance to the SC/St Entrepreneurs different interventions and various outreach activities. The overall objectives of scheme will be to increase their participation in public procurement.

Although the performance of NSIC is appreciable it is suggested that greater efforts should be made to expand reach of NSIC so that it may be able to serve larger number of MSMEs.

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