NSIC Pays Record Dividend

The Minister of Micro, Small & Medium Enterprises Shri Kalraj Mishra today said that his Ministry is committed towards enhancing the competitiveness of Indian MSMEs so as to enable them to face the challenges ahead in view of global competition.

Speaking on the occasion of “Dividend Paying Ceremony” of National Small Industries Corporation (NSIC), a Mini Ratna Company under the Ministry of MSME, Shri 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. Shri 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”.

Shri 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.

Shri Ravindra Nath, Chairman & Managing Director, NSIC presented a dividend cheque of ₹ 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 ₹ 17,444 crore in 2013-14, posting a 25% growth from its previous year, its Gross Income has gone upto ₹ 418.04 crore registering a growth of 22% and Profit before Tax for the year was ₹ 114.71 crore posting an increase of 24% from the previous year.