7-Dec-2022: NSIC signs MoU with Walmart

A MoU was signed between Walmart Global Sourcing India Private Limited and The National Small Industries Corporation Limited on 6th December, 2022 . The MoU was signed by Shri Gaurang Dixit, Chairman and Managing Director, NSIC and Ms. Prameela Mallaiah, Director and Hub Leader, Walmart in the presence of Union Minister of MSME Shri Narayan Rane.

Through this MoU NSIC will be able to extend the NSIC schemes and other services to MSMEs who would participate in various Vriddhi program. Moreover, the MSMEs would get the exposure to various advantages of gaining working capital, bulk procurement support etc. under various opportunities offered by NSIC. MSMEs who are part of the NSIC ecosystem will also be linked to the Vriddhi program in relevant clusters and get access to existing business training content, advisory support, tools and knowledge under the program – “free of cost”. The MoU will play a critical role in enabling MSME’s reach $2 trillion worth of exports by 2030.

During the event, Shri Narayan Rane said, “I'm glad to see that Walmart's Vriddhi program has enabled a large number of Indian MSMEs to expand, boost their production, and experience growth. Walmart has been instrumental in enabling MSMEs with training and capacity building, especially through the pandemic. The Indian MSME sector currently comprises of 6.3 crore MSMEs that employ more than 11 crore people. We look forward to Walmart’s continued support to the growing MSME sector in the country.”

Adding to what Shri Rane said, Shri Gaurang Dixit, Chairman-Cum-Managing Director, NSIC, said, “NSIC is committed to the growth and development of a robust MSME sector in India. We look forward to working with Walmart Vriddhi to help MSMEs under the program get access to our schemes and make the learning resources of Vriddhi available to MSMEs under NSIC. Through this partnership, MSMEs across the country can get the necessary support required to further expand their businesses nationally and across the globe.”

20-Oct-2022: NSIC Signs MoU with Phillips Machine Tools India Pvt. Ltd.

Shri Narayan Rane, Union Minister of MSME graced the occasion of MoU signing between the National Small Industries Corporation Ltd. (NSIC) and Phillips Machine Tools India Pvt. Ltd. for Skill Development Training in Additive Technologies on October 18, 2022 in New Delhi

Shri B.B. Swain, Secretary (MSME), Shri Gaurang Dixit, CMD, NSIC and Ms. Mercy Epao, Joint Secretary (SME) were also present on the occasion. The MoU was signed by Shri Navin Chopra, CGM-SG (Tech. /MIS), NSIC.

Shri  Rane said that the signing of this MoU between NSIC and Phillips India will be a significant step for preparing skilled manpower in additive technologies which is the future of manufacturing. He stated that both organizations can leverage their expertise and create excellent opportunities for MSMEs in this upcoming field.

24-Mar-2022: Price Of Raw Materials

The National Small Industries Corporation Limited (NSIC) a Public Sector Undertaking under the Ministry of Micro, Small and Medium Enterprises (MSME) facilitates MSMEs to meet their raw material requirement by making arrangements with bulk manufacturers for procuring the materials and supplying the same to MSMEs. NSIC also provides financial assistance to MSMEs under their Raw Material Assistance (RMA) Scheme against bank guarantee for payment to the suppliers. The issue of regular increase in prices of raw materials specifically post Pandemic was regularly taken up by NSIC with the bulk producers. Further, the Government of India has taken several measures to deal with the issue of rise in raw materials including MSME sector, which include:

1. To ensure enhanced production and availability of iron ore and steel, steps like reforms in mining and mineral policy early operationalization of forfeited working mines of Odisha by the State/Central PSUs and ramping up production and capacity utilization by steel producers have been taken by the Government.
2. In Union Budget 2022-23, Custom Duty exemption on steel scrap has been extended for up to 31st March, 2023 to provide relief to the MSME secondary steel producers. In addition, considering prevailing high prices of steel products, certain anti-dumping duties and countervailing duties on steel have been revoked in larger public interest. Also, in order to incentivize domestic manufacturing of umbrellas by MSMEs, customs duty on umbrellas have been raised to 20% and customs duty exemptions available to parts of umbrellas have been withdrawn.
3. To give relief to secondary and MSME sector, steel industry engaged in Housing/construction sector, TMT bars below 8 mm have been exempted from the purview of the Quality Control Order, as these are primarily used for non-critical applications.
4. Ministry of Steel has also issued clarifications to CPWD, MoRTH etc. that steel produced through various routes of production using iron ore, steel scrap and DRI should be treated at par if the steel produced conforms to the relevant BIS standards.

3-Feb-2022: Price increase of raw materials

The National Small Industries Corporation Limited (NSIC) a Public Sector Undertaking under the Ministry of Micro, Small and Medium Enterprise (MSME) facilitates MSMEs to meet their raw material requirement by making arrangements with bulk manufacturers for procuring the materials and supplying the same to MSMEs. NSIC also provides financial assistance to MSMEs under their Raw Material Assistance (RMA) Scheme against bank guarantee for payment to the suppliers. The issue of regular increase in prices of raw materials specifically post-pandemic was regularly taken up by NSIC with the bulk producers. Further, the Government of India has taken several measures to deal with the issue of rise in raw materials including MSME sector, which include:

1. To ensure enhanced production and availability of iron ore and steel, steps like reforms in mining and mineral policy early operationalization of forfeited working mines of Odisha by the State/Central PSUs and ramping up production and capacity utilization by steel producers have been taken by the Government.
2. In Union Budget 2021-22, Customs Duty has been reduced uniformly to 7.5% on Semis, Flat and Long products of non-alloy, alloy and stainless steels. Further, Basic Custom Duty (BCD) on steel scrap has been exempted for a period up to 31st March, 2022. In addition to the above, ADD and CVD on certain steel products have also been revoked / temporarily revoked.
3. To give relief to secondary and MSME sector steel industry engaged in Housing/construction sector, TMT bars below 8 mm have been exempted from the purview of the Quality Control Order, as these are primarily used for non-critical applications.
4. Ministry of Steel has also issued clarifications to CPWD, MoRTH etc. that steel produced through various routes of production using iron ore, steel scrap and DRI should be treated at par if the steel produced conforms to the relevant BIS standards.

28-Oct-2020: NSIC observes vigilance awareness week

As part of observing Vigilance Awareness week, Shri Vijayendra, CMD, National Small Industries Corporation (NSIC)  administered the “Integrity Pledge for Organisations “on the occasion of Vigilance Awareness week. NSIC is an organisation under the Ministry of Micro, Small and Medium Enterprises.

Also present on this occasion were Shri. P. Udayakumar, Director (P&M), Shri Gaurang Dixit, Director (Finance), NSIC and Shri Rajan Trehan, CVO, NSIC along with NSIC employees. This awareness week campaign affirms NSIC’s commitment to promotion of integrity and probity in public life through citizen participation. All employees have been advised to strictly adhere to extant Covid-19 prevention guidelines and focus on internal (housekeeping) activities which are to be taken up in campaign mode as part of the Vigilance Awareness Week this year. NSIC observes the Vigilance Awareness Week from 27th October to 2nd November, 2020  with the theme of the week being “सतर्कभारत, समृद्धभारत - Satark Bharat, Samriddh Bharat (Vigilant India, Prosperous India)”.

22-Jun-2019: NSIC signs MoU with Common Service Centres– eGovernance Services India for enhancing new offerings for the MSME sector

The National Small Industries Corporation signed an MoU with Common Service Centres (CSC) e-Governance Services India in New Delhi, for enhancing new offerings for the MSME sector by synergizing each other's competence.

Shri. Ram Mohan Mishra stated that this MoU will have special focus on providing services to village level entrepreneurs (VLEs) and would lead to exponential growth of Village Entrepreneurs in the country. The MoU will also enable CSCs to utilize plethora of NSIC offerings through the NSIC portal www.msmemart.com.

Dr. Dinesh Kumar Tyagi, CEO, CSC said that CSC will facilitate VLEs and MSMEs through digital empowerment in accessing NSIC integrated support services encompassing Marketing, Finance, Technology and other offerings.

28-May-2019: NSIC signs MOU with Ministry of MSME

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

The MOU envisages provision of enhanced services by NSIC under its marketing, financial, technology and other support services schemes for MSMEs in the country. The Corporation projects to increase Revenue from operation by 22% from Rs. 2540 crore in the year 2018-19 to 3100 crore in the year 2019-20. NSIC also projects growth of 32% in Profitability during the year 2019-20.  The Corporation also plans to enhance its activities in the areas of imparting entrepreneurship and skill development training by targeting 45% growth in the number of trainees.

Under the scheme of National SC-ST Hub being implemented by NSIC on behalf of the Ministry of MSME, it will be a continued endeavour to provide assistance to SC/ST entrepreneurs through different interventions and various outreach activities with the overall objectives to increase their participation in public procurement.

Dr. A.K. Panda, Secretary, Ministry of MSME, while appreciating the performance of NSIC, suggested that greater efforts should be made to expand the reach of NSIC so that it may serve larger number of MSMEs in the country.