(The Pioneer)
The National Small Industries Corporation Limited (NSIC) signs the Memorandum of Understanding (MOU) with Ministry of Micro, Small and Medium Enterprises (MSMEs) for the year 2019-20. The MOU was signed by Ram Mohan Mishra, AS & DC (MSME) and CMD (NSIC) with Arun Kumar Panda, Secretary, MSME, Government of India in the presence of Alka Nangia Arora, Joint Secretary, SME, Mercy Epao, Director (SME), P Udayakumar, Director — P&M (NSIC) and AK Mittal, Director-Finance (NSIC).
The said 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% from Rs 2540 crore in the year 2018-19 to 3100 crore in the year 2019-20. Corporation also projects growth of 32% in ‘Profitability’ during the year 2019-20. NSIC also plans to enhance its activities in the areas of imparting entrepreneurship and skill development training by targeting 45% growth in the number of trainees.
