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24 Jul 2024, Edition - 3298, Wednesday

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NSIC turnover grows by 20 percent in TN

Covai Post Network


The National Small Industries Corporation (NSIC) witnessed nearly 20 percent growth in Tamil Nadu with about 3000 Micro, Medium and Small Enterprises (MSME) registering this year. The information was given to the media by V. Arumugham, Zonal General Manager of NSIC, Tamil Nadu and Puducherry.

Nationwide, 2.5 lakh tonnes of steel is procured annually. Of this, about 7000 tonnes are procured by Tamil Nadu to supply to small and micro industries. As a result, the NSIC saw a turnover of Rs.1200 crores in the previous financial year.

He also said that the new procurement policy, according to which, PSUs have to procure 20 percent of their requirements from the MSME sector, will encourage the growth of the sector. Nationwide, PSUs procure components worth Rs.70,000 crore from MSMEs.

About the delay in receiving payments from the PSUs, which has been a major complaint from the entrepreneurs of Coimbatore, Arumugham assured that the government has now set up a facilitation centre to look into complaints of payment delays of more than 90 days.

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