National Small Industries Corporation (NSIC) signed an Memorandum of Understanding (MOU) with Ministry of Micro, Small and Medium Enterprises (MSMEs). The MOU for the year 2015-16 was signed by Ravindra Nath, CMD, NSIC with Madhav lal, secretary, MSME. Also present were SN Tripathi, joint secretary, MSME, P Udayakumar, director (P&M),NSIC and BH Anil Kumar, joint secretary (ARI).
The MOU envisages provision of enhanced services by NSIC under its financial, marketing, technology services and other support services schemes for MSMEs in the country. It projects growth of 15 to 20 per cent in the operational performance of the corporation during 2015-16. The key elements of the MOU for 2015-16 inter-alia include raw material distribution to the tune of Rs21,000 crore in 2015-16 as against Rs18,000 crore in the previous year and preparing MSEs to avail enhanced benefits under public procurement, conducting vendor development programme and providing tender information to facilitate in tender participation.