NSIC targets 15% growth in number of trainees in FY18

State-owned National Small Industries Corporation (NSIC) today said it targets a 21.3 per cent increase in business to Rs 27,000 crore during 2018-19, as against Rs 22,258 crore in the previous financial year.

In a statement, NSIC said it also plans to extend activities related to entrepreneurship and skill development training by targeting a 15 per cent growth in the number of trainees in the ongoing fiscal.

NSIC signed an MoU today with the Ministry of Micro, Small & Medium Enterprises (MSME) for the year 2018-19.

The Memorandum of Understanding (MoU) envisages provision of enhanced services by NSIC under its marketing, financial, technology and other support services schemes for MSMEs across the country.

MSME Secretary A K Panda, who signed the MoU on behalf of the Ministry, urged the Corporation to create niche activities for itself, and suggested that greater efforts be made to expand the reach of NSIC so as to serve a larger number of MSMEs.

National Small Industries Corporation (NSIC) is a Mini Ratna PSU under the administrative control of the Ministry of Micro, Small & Medium Enterprises.