New Delhi, May 8 (KNN) With a view to reach and serve large number of MSMEs, the National Small Industries Corporation Limited (NSIC) has recently signed a Memorandum of Understanding (MOU) with Ministry of Micro, Small and Medium Enterprises (MSME) for the year 2018-19.

The said MoU envision provision of enhanced services by NSIC under its marketing, financial, technology and other support services schemes, for MSMEs in the country.

With this collaboration, corporation projects to increase its total business by 21.30% from Rs 22,258 crore in the year 2017-18 to Rs 27,000 crore in 2018-19.

The corporation also projects growth of 15 percent in ‘Revenue from Operation’ and 22 percent in ‘Profitability’ during the year 2018-19.

Further, it plans to enhance its activities in the areas of imparting entrepreneurship and skill development training by targeting 15 percent growths in the number of trainees.

Dr. A.K. Panda, Secretary, MSME, urged the Corporation to create niche activities for itself.

Also, he suggested that greater efforts will be made to expand reach of NSIC so as to serve larger number of MSMEs.

To strengthen its vertical training and testing services for MSMEs, special focus will be given to modernize its technical centers, Ravindra Nath, CMD, NSIC said.

In addition, NSICs aims to prepare SC/ST entrepreneurs avail enhanced benefits under Public Procurement under the scheme of National SC-ST Hub for which NSIC undertakes to conduct special VDPs, engage with CPSEs, and organize regional conclaves and so on.

The MoU was signed by Ravindra Nath, CMD, NSIC with Dr. A.K. Panda, Secretary, MSME, Government of India in the presence of Alka Nangia Arora, Joint Secretary, MSME, Dr. P.G.S. Rao, Director (MSME), P. Udayakumar, Director (P&M) NSIC and A.K. Mittal, Director (Finance) NSIC. (KNN/YV)