NSIC aims Rs 500 cr business in Odisha

The National Small Industries Corporation (NSIC) aims to do a business of Rs 550 crore in the state during the current fiscal under its various schemes.

“The turnover includes raw  material distribution to the MSMEs, marketing of the finished goods of small scale industries, facilitation of bank credit. We have signed a pact with the NSIC headquarters in this regard,” said PC Nayak, deputy zonal general manager, NSIC (Odisha).

“The NSIC will ensure funding of MSMEs (micro, small & medium enterprises) to the tune of Rs 25 crore through bank financing. We will also ensure that 20 per cent of the products produced by MSMEs are purchased by the central PSUs,” he added.

As per a policy, every central ministry/department/PSU shall procure minimum 20 per cent of their total annual purchases of the products or services from the Micro and Small Enterprises (MSEs). At present, the PSUs are purchasing about 10-12 per cent of their requirements from MSMEs.

NSIC plans to register 100 new MSMEs in the state in this financial year and add two more new offices at Paradip and Samblapur. NSIC, at present, has six offices in the state at Bhubaneswar, Rourkela, Bolangir, Berhampur, Cuttack and Balasore. To facilitate credit linkage for MSMEs, NSIC will enter into a memorandum of understanding with the state government after model code of conduct is over.

NSIC has signed pacts with various nationalised and private banks for credit facilitation to the MSMEs under its bank tie-up scheme. Through syndication with these banks, NSIC arranges for credit support (fund or non fund based limits) from banks without any cost to MSMEs. All documentation pertaining to completion and submission of credit proposals to banks is also undertaken by NSIC.

The mini ratna government company has awarded the contract to construct the MSME (micro, small and medium enterprises) facilitation centre in Bhubaneswar to National Buildings Construction Corporation Limited. The facility, being built at a cost of Rs 60 crore, will be a one-stop solution for the development of MSMEs and is likely to house offices of service providers like training institutes and insurance companies.