Task Force Asks For Rs.300 Crore to Help MSMEs, Task Force Recommended An Equity Infusion of Rs.300 Crore For MSMEs, Equity Infusion For Indian MSMEs, Rs.300 Crore Equity Infusion to Help Indian Micro Small and Medium Enterprises

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SME Times News Bureau | 31 May, 2010
The PMO-appointed Task Force on Saturday recommended an equity infusion of Rs 300 crore into the National Small Industries Corporation (NSIC) for strengthening its marketing activities.

"The Task Force set up by Prime Minister Manmohan Singh has recommended equity infusion into the NSIC to enable it to significantly scale up its activities, especially raw material distribution to MSMEs at attractive terms," said Prime Minister's Principal Secretary, T K A Nair, who heads the Task Force.

Inaugurating the NSIC marketing intelligence cell in New Delhi, he said that with proper guidance and support, MSMEs (micro, small and medium enterprises) could find great opportunities in inter-connected globalised markets.

The NSIC had turned into a dividend-paying government company after suffering losses for several years.

The NSIC marketing intelligence cell, which was one of the recommendations of the PM's task force on MSMEs, will collect and disseminate marketing intelligence relating to international buyers and technology suppliers to such enterprises.

"The government is providing a lot of facilities to MSMEs, but a number of them are not able to derive full benefits because of the information gap," Secretary in the Ministry of MSME, Dinesh Rai, added.