India, Mauritius sign MoU to support SMEs

Under the auspicious guidance of Minister of State (Independent Charge), Micro, Small and Medium Enterprises, K. H. Muniyappa, the National Small Industries Corporation (NSIC) has signed a pact with Mauritius's Small and Medium Enterprise Development Authority (SMEDA) in the national capital on Monday.

Welcoming the visiting dignitaries Muniyappa expressed his happiness on the signing of MoU between National Small Industries Corporation and Small & Medium Enterprises Development Authority of Mauritius.

The MoU facilitates an assistance and provide the necessary support to SMEs to gain market access and business opportunities and to compete successfully in the national and international markets for both the countries.

A delegation led by H.E. Jangbahadoorsing Seetaram, Minister of Business, Enterprise and Cooperatives, Mauritius called on Muniyappa.

It promotes a favorable business environment and empower SMEs to emerge and grow and provides a service delivery network which increases the contribution of SMEs in the national economy.

The MoU stated that, may provide consultancy to Mauritius's SMEDA on mutually agreed terms, in implementation of its strategy for the development of Incubation Centres and strengthening of the SMEDA SME Resource and Technology Centre (SRTC) with emphasis on Research and Development (R&D) and Innovation.

For both the countries, the pact provides cooperation at all levels including technology transfer, Marketing and Financial in the MSME sector.

The Mauritius Minister was accompanied by Dr. A.K. Jagessur, GOSK, High Commissioner, Jean Maxy Simonet, Permanent Secretary and officials from the High Commission of Mauritius in New Delhi.

Madhav Lal, Secretary, Ministry of MSME, H. P. Kumar, Chairman-cum-Managing Director, National Small Industries Corporation and other officials of the Ministry of MSME also attended the meeting.

Meanwhile, NSIC presented a dividend cheque of Rs 12.47 crore to the its administrative ministry, the Ministry of MSME, for the 2012-13 fiscal. In 2011-12, the Corporation had given a dividend cheque of Rs 8.24 crore to the government.

"This year, it is the seventh consecutive year of the Corporation to pay dividend to the government," H. P. Kumar said.

NSIC said it has crossed a turnover of Rs 13,901 crore during 2012-13, recording a growth of 24% over the previous year.

Earlier NSIC has signed a pact with State Bank of India for providing affordable and easy credit to SMEs, infomed Kumar.

"Recently, we have signed an agreement with SBI to facilitate easy credit to MSMEs at a reasonable rate and we hope it will really help these units," said Kumar.