NSIC eyes 22 pc rise in revenue in FY'20 to Rs 3,100 crore

The National Small Industries Corporation Tuesday said it is eyeing a 22 per cent increase in revenue to Rs 3,100 crore in 2019-20 from Rs 2,540 crore in 2018-19.

It signed a MoU (Memorandum of Understanding) with the Micro, Small and Medium Enterprises (MSME) Ministry for 2019-20 on Tuesday in the presence of National Small Industries Corporation (NSIC) CMD Ram Mohan Mishra and MSME Secretary Arun Kumar Panda.

"The Corporation projects to increase revenue from operations by 22 per cent from Rs 2,540 crore in the year 2018-19 to Rs 3,100 crore in the year 2019-20," NSIC said.

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

NSIC also plans to enhance its activities in the areas of imparting entrepreneurship and skill development training by targeting 45 per cent growth in the number of trainees, it said.