New Delhi, Aug 16 (KNN) The National Aluminium Company Limited (NALCO), a Navratna CPSE under Ministry of Mines, will enhance procurement from micro, small and medium enterprises (MSMEs) to upto Rs 1200 crore, three times to the present level of Rs 400 crore, its CMD TK Chand has said.

In his recent address during a convention organised by Odisha Assembly of Small and Medium Enterprises (OASME), Chand said India is emerging as the youngest nation with 64 percent of population in the working group.

He said if the demographic dividend of Indian is properly cultivated, it will increase GDP by 2 percent and it can only be possible if the huge workforce is provided productive employment.

“MSME is the right avenue to create employment,” Chand opined.

"A crore investment in MSME creates 85 jobs against one job in large industries. This is going to be the game changer," Chand said.

Referring to the Angul Aluminium Park, NALCO CMD said there is huge response to the aluminium park from industry proponents. There is as an estimated requisition for 5 Lakh MT.

This creates the market compulsion for Nalco to go for two new smelters one brownfield and one greenfield, with additional capacity of 1 million tonne in toto, to meet the demand of all India customers, export commitments and industrial units in Angul Aluminium Park, Chand said.

He said the aluminium park has brought a turnaround in the investment scenario in the aluminium sector, where producers have been apprehensive due to high cost of production and low LME.

The park is expected to give boost to ancillary units in the region.