National Small Industries Corporation (NSIC) is planning to launch a Special Registration Scheme solely for service sector so that the non-manufacturing sector can also apply to PSUs on the lines of MSMEs.
The launch of the scheme was announced by NSIC Director (Planning and Marketing) P Udaykumar. This was announced by him at the five-day Industrial Fair ‘Intec 2015’ which was organised by the Coimbatore District Small Industries Association (CODISSA). The Corporation has also started a free of cost e-commerce site that will be beneficial for the MSMEs, most importantly marketing. This has been particularly done so that the small and medium entrepreneurs can reach out to the world with their products. This will greatly benefit them as there will be no cost of marketing the products as the portal is free. It also amplifies the reach of the MSMEs.
Another aspect that was discussed in the fair was the MSME sector working towards the revival of the sick MSME units. There are around four lakh sick MSME units in the country out of which 35,000 of these units can be revived. The Ministry is in talks with various banks that will help revive these sick units.
MSME is an important part of the country’s economy as it contributes significantly to the total industrial production and also 40 per cent of the total exports.
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