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Current Affairs

NSIC signs MOU with Ministry of MSME

Date: 29 May 2019 Tags: Ministries & Departments

National Small Industries Corporation Limited (NSIC) has signed Memorandum of Understanding (MOU) with Union Ministry of Micro, Small and Medium Enterprises (MSME) for the year 2019-20.

Features of MoU

  • It envisages provision of enhanced services by NSIC under its marketing, financial, technology and other support services schemes for MSMEs in the country.
  • Under it, NSIC also plans to enhance its activities in areas of imparting entrepreneurship and skill development training by targeting 45% growth in the number of trainees.
  • Under scheme of National SC-ST Hub being implemented by NSIC on behalf of Ministry of MSME will continue its endeavour to provide assistance to SC/ST entrepreneurs with overall objectives to increase their participation in public procurement.

National Small Industries Corporation (NSIC)

It is Government of India Enterprise under the Mini-Ratna Category. It promotes, aids and fosters growth of micro, small and medium enterprises (MSMEs) in the country. It functions under Ministry of Micro, Small and Medium Enterprises (MSME).  It was e established in 1955.It is headquatered in New Delhi.