New Delhi, August 30 (KNN) In a bid to empower the Micro, Small and Medium Enterprises (MSMEs) in the country, buying club Power2SME has signed a pact with the National Small Industries Corporation (NSIC) under the Ministry of Micro, Small and Medium Enterprises (MSMEs).  The MoU aims to facilitate procurement of raw material, finance and other requirements of the sector.

Under the collaboration, the SMEs will be facilitated with sourcing variety of raw materials including Metal, Polymers, yarns, chemicals and a host of other materials.

The initiative further aims to create a positive economic environment for the SME’s by setting up a platform for them to grow, learn, and face challenges with guidance and support from Power2SME and NSIC. 

R. Narayan, Founder & CEO, Power2SME said that the collaboration will help bring in the much needed boost to the sector.

He further informed that Power2Sme will work closely with NSIC to help the MSMEs in the country become bankable, in order to facilitate growth both for the MSME unit as well as the economy at large.

Ravindra Nath, CMD, NSIC, added that the MoU is expected to empower and propel Indian MSMEs on the fast lane of growth by making them cost-competitive

Also the collaboration will provide the MSMEs with a set of customized schemes to enhance their competitiveness in the long run. (KNN/ DA)