The National Small Industries Corporation (NSIC) will soon be a one-stop shop for Micro, Small, and Medium-scale Enterprises (MSMEs) for all the requirements, said P. Udaya Kumar, Director (Planning and Marketing) of the Corporation.
Mr. Kumar, who was in Coimbatore on Thursday for the inaugural of Intec 2019, told The Hindu the Corporation plans to be an aggregator for supply of machinery and software to MSMEs, multiple financial verticals, logistics, and insurance service. “Some models are ready for launch,” he said.
Currently, the NSIC offers support in areas such as finance, raw materials, and marketing. The software needs will be rolled out soon. The Corporation is talking to banks to come out with tailor-made products for MSMEs. For launching the insurance products, the NSIC needs to get some approvals, he said.
The Corporation has 1.6 lakh MSMEs as its customers and “can easily double its customer base” by offering all the services that the MSMEs need. “We are trying to identify the needs of MSMEs. We will create a support system for MSMEs,” he added.
Almost 90 % of the MSMEs in the country are micro and are spread in rural areas too. It is possible to reach out to these units by collaborating with other agencies of the government and the State governments. So, the organisation will leverage the services of these agencies. The NSIC looks at high volume and low charges for its services. By offering more services, it will be able to grow its turnover too, he said.