State to sign MoU with NSIC for setting up business incubation centres

Reported by Chinmaya Dehury/Edited by Sandeep Sahu

Bhubaneswar, Sep 24:

The Odisha government has decided to ink a memorandum of understanding (MoU) with National Small Industries Corporation Ltd (NSIC) for setting up business incubation centres for the benefit of the Micro, Small and Medium Enterprises (MSME) sector in the state.

The MoU would be in line with the one signed by the West Bengal government with NSIC.

“I understand NSIC has signed a MoU with the government of West Bengal for setting up business incubation centres in the state with special focus on backward and less industrialized regions of the state. Government of Odisha would like to go for a similar MoU arrangement with your organization for the benefit of MSME sector,” said MSME secretary Panchanan Das in a letter to the NSIC Chairman-cum-Managing Director (CMD).

The government has also proposed to avail credit from various banks under the bank tie-up scheme of the NSIC. The organization has signed a MoU with various nationalized banks for credit facilitation to the MSME sector under the scheme.

“We have 30 district industry centres (DICs) in Odisha, wherein MSME credit proposals can be mobilized and forwarded to NSIC for sanction of loan under the Bank Tie-Up scheme. We would also like to add this clause in the proposed MoU with you so that MSME would be benefited,” said Das.

The MSME department is in the process of finalising the modalities for the signing of the MoU with the NSIC.