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NSIC pays record dividend to MSME ministry

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Speaking on the occasion of "Dividend Paying Ceremony" of National Small Industries Corporation (NSIC), a Mini Ratna Company under the Ministry of MSME, Mishra expressed happiness over NSIC's facilitation to the MSME sector specially when there are stiff challenges being faced by the sector. 

The Minister also urged that more and more MSMEs shall be served through NSIC in the coming years.  

The Minister also applauded the role of NSIC in providing integrated support services to MSMEs with respect to marketing, technology, credit and information support. He appreciated the fact that NSIC has been supplementing the availability of raw material at competitive rates to a large number of MSMEs all over the country.

Mishra also appreciated NSIC's efforts through its Rapid Incubation Programme in contributing towards entrepreneurship development by transforming the youth in the country from "Berojgar to Swarojgar". 

Madhav Lal, Secretary (MSME), complimented NSIC on providing integrated support to MSMEs within the country. 

He appreciated NSIC for engaging in entrepreneurship development internationally while working with various developing countries.    

Ravindra Nath, Chairman & Managing Director, NSIC presented a dividend cheque of Rs. 15.19 Crore for the year 2013-14 to the Minister in the presence of Secretary, MSME and other officials of the Ministry and NSIC. 

He informed that this is the highest dividend ever paid by NSIC. The CMD also informed that the Corporation has done an overall business of Rs. 17,444 crore in 2013-14, posting  a  25 percent growth from its previous year,  its Gross Income has gone upto Rs.418.04 crore registering a growth of 22 percent and Profit before Tax for the year was Rs.114.71 crore posting an increase of 24 percent from the previous year.