NSIC to focus on innovation, skill development in MSME sector

National Small Industries Corporation (NSIC) has signed a pact with the government for promotion of innovation and entrepreneurship to give a fillip to the MSME sector in the country.
The Memorandum of Understanding (MOU), signed here for 2015-16, envisages provision of enhanced services by NSIC under its financial, marketing, technology services and other support services for micro, small & medium enterprises (MSMEs) in the country, an official statement said.
At the MoU signing ceremony, NSIC CMD Ravindra Nath said, "Special focus will be given to enhance entrepreneurship and skill development activities through setting up livelihood incubation centres under the scheme for promotion of innovation, entrepreneurship and agro-industry of the MSME Ministry."

The MoU projects growth of 15 to 20 per cent in the operational performance of the NSIC during the year 2015-16.
The agreement entails raw material distribution to the tune of Rs 21,000 crore in 2015-16 as against Rs 18,000 crore in the previous financial year.
It also includes preparing micro and small enterprises (MSEs) to avail enhanced benefits under 'Public Procurement' through consortia formation, conducting vendor development programme and providing tender information to facilitate in tender participation.
The pact envisions adoption of 10 clusters to extend benefits of NSIC's schemes to the MSMEs operating from such clusters and seeks to facilitate MSMEs in their marketing efforts through mobilising greater membership under the e-marketing portal -- www.Msmeshopping.Com.