NSIC signs pact with Mauritius-based SMEDA for technology transfer

NEW DELHI: National Small Industries Corporation today signed an agreement with Mauritius-based Small and Medium Enterprise Development Authority ( SMEDA) to cooperate in areas of technology transfer, marketing and finance, besides training exchange programmes.

"Recognising the need to modernise small units in Mauritius, National Small Industries Corporation ( NSIC) and SMEDA have signed a Memorandum of Understanding for a period of three years," Minister of State (Independent Charge) for Micro, Small and Medium Enterprises K H Muniyappa told reporters here.

Under the agreement, NSIC would promote a conducive business environment and empower SMEs to emerge and provide a service delivery network, NSIC Chairman and Managing Director H P Kumar said.

NSIC is engaged in promotion, assistance and fostering the growth of MSMEs in the country. It provides technology, marketing and financial support services to such units.

"The pact will also include technology transfers from India to Mauritius, implementation of strategy for development of incubation centres in Mauritius, exchange of business missions, facilitate fairs and to carry out industrial surveys between," MSME Secretary Madhav Lal said.

SMEDA devises and implements development support programmes along with schemes for SMEs.

The country's MSME sector contributes 8 per cent to India's Gross Domestic Product (GDP); its share in the country's total exports is 36 per cent and contributes 45 per cent to the manufactured output.

The sector provides employment to over 8 crore people engaged in over 3.6 crore units, producing more than 6,000 products.