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NSIC to gift Rs 550 crore package to Odisha's MSME sector
Odisha's MSME sector is going to get a Rs 550 crore business package by the National Small Industries Corporation (NSIC) during the current fiscal under its various schemes.

PC Nayak, deputy zonal general manager, NSIC (Odisha), as quoted by Business Standard, said, "The turnover includes raw material distribution to the MSMEs, marketing of the finished goods of small scale industries, facilitation of bank credit." And NSIC, Odisha has signed a pact with the NSIC headquarters in this regard.

To foster SME sector of the state the NSIC will ensure funding of MSMEs (micro, small & medium enterprises) to the tune of Rs 25 crore through bank financing. At present, PSUs are purchasing about 10-12 per cent of their requirements from MSMEs. "We will also ensure that 20 per cent of the products produced by MSMEs are purchased by the central PSUs," Nayak added.

As per a policy, every central ministry/department/PSU shall procure minimum 20 per cent of their total annual purchases of the products or services from the Micro and Small Enterprises (MSEs).

In this scheme the NSIC also plans to register 100 new MSMEs in the state in this financial year. Two more new offices will be opened at Paradip and Samblapur adding to its existing six offices in the state at Bhubaneswar, Rourkela, Bolangir, Berhampur, Cuttack and Balasore. NSIC will enter into a memorandum of understanding with the state government to facilitate credit linkage for MSMEs after model code of conduct is over.

Under its bank tie-up scheme the NSIC has signed pacts with various nationalised and private banks for credit facility to MSMEs.

The mini ratna government company has awarded the contract to construct the MSME (micro, small and medium enterprises) facilitation centre in Bhubaneswar to National Buildings Construction Corporation Limited at a cost of Rs 60 crore. It will be a one-stop solution for the development of MSMEs and is likely to house offices of service providers like training institutes and insurance companies.

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