Govt signs MoU with NSIC to promote MSME innovation

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SME Times News Bureau | 31 Mar, 2015
National Small Industries Corporation (NSIC) has signed a Memorandum of Understanding (MoU) with Ministry of Micro, Small and Medium Enterprises (MSMEs) to promote innovation and skill development of MSMEs.

The MoU for the year 2015-16 was signed by Ravindra Nath, CMD, NSIC with Madhav Lal, Secretary, MSME in the national capital on Monday.

The said MoU envisages provision of enhanced services by NSIC under its Financial, Marketing, Technology Services and other support services schemes for MSMEs in the country.

The MoU projects growth of 15-20 percent in the operational performance of the Corporation during the year 2015-16.

The key elements of the MOU for 2015-16 inter-alia include Raw Material Distribution to the tune of Rs. 21000 crore in 2015-16 as against Rs. 18000 crore in the year 2014-15.

Preparing MSEs to avail enhanced benefits under 'Public Procurement' through consortia formation, conducting vendor development program and providing tender information to facilitate in tender participation.

Adoption of 10 clusters to extend benefits of NSIC's Schemes to the MSMEs operating from such clusters.

Facilitate MSMEs in their marketing efforts through mobilising greater membership under e-marketing portal-www.msmeshopping.com.

Further, Ravindra Nath, CMD, NSIC informed that special focus will also be given by NSIC to enhance the entrepreneurship and skill development activities through setting up livelihood incubation centres under the Scheme for "Promotion of Innovation, Entrepreneurship and Agro- Industry" of Ministry of MSME.