Power2SME and the National Small Industries Corporation (NSIC) on Tuesday signed a Memorandum of Understanding (MoU) to enable the empowerment of SMEs in India and catalyse the exchange of market knowledge between both parties, enabling both to better SMEs for their raw material, finance, and other requirements.
With this coalition, SMEs across India will be able to have access to raw materials, finance, and importantly, help create a positive economic environment for the SME's. This initiative will provide massive opportunity for the SME sector in terms of creating a platform for them to grow, learn, and face challenges with guidance and support from Power2SME and NSIC.
The two parties will together work towards the growth of the SME sector with heightened focus on making them a key part of the 'Make in India' growth story that will reflect on the growth chart of the country.
The newly-signed MoU will make the SMEs attain higher efficiencies and productivity with transparency at each level, which will consequently garner trust of the SMEs.
"The MoU between Power2SME and NSIC has been inked to drive our deep commitment towards the MSME players and create a positive impact with relevant solutions that address their business challenges. With mutual aim to make MSMEs in India bankable, both Power2SME and NSIC will create a business friendly ecosystem for MSMEs to flourish and improve their contribution towards India's GDP," said R. Narayan, Founder and CEO, Power2SME.
"NSIC and Power2SME will further empower and propel Indian MSMEs on the fast lane of growth by making them cost-competitive. NSIC is in the forefront of facilitating MSMEs through package of services. NSIC facilitates MSMEs with a set of specially-tailored schemes to enhance their competitiveness. NSIC provides integrated support services under marketing, technology, finance, and other support services," added Ravindra Nath, CMD, NSIC.
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