NSIC witnesses 15-20 pc growth in turnover from TN

The National Small Industries Corporation (NSIC), which supplies raw materials to small and medium enterprises, today said it was witnessing 15-20 per cent year-on-year growth in its turnover in Tamil Nadu.
Of the 2.5 lakh tonnes steel procured annually at the national level, Tamil Nadu procured 7,000 tonnes to supply among the MSME by which NSIC has registered a turnover of Rs 1,200 crore in the last fiscal, V Arumugham, Zonal General Manager, Tamil Nadu and Puducherry, told reporters here.
Besides steel, the corporation was supplying aluminium, copper and plastic items directly procured from the manufacturers, to the industries, with an interest rate of 12.25 per cent, Arumugham said.

Stating that the new procurement policy, by which PSUs have to procure 20 per cent of their requirements from MSME sector, would be a boon to the sector, he said that components worth Rs 70,000 crore are being sourced by PSUs at national level.
On delay in getting payment from PSUs, a general complaint from this region, he said that the Government has now set up a facilitation counter, which would look after if the payment was delayed more than 90 days and the supplier will get the money with interest.