New Delhi, February 26 The Ministry of Micro, Small and Medium Enterprises upgraded the National Small Industries Corporation Ltd (NSIC) from Schedule 'B' to Schedule 'A' category of central public sector enterprise (CPSE) on Thursday.
This recognition will positively impact NSIC's management, operations, and financial powers, thereby enhancing its support for MSMEs, the ministry stated.
NSIC, under the administrative control of the ministry, has been promoting and developing the Micro, Small & Medium Enterprises (MSME) sector across the country for over seven decades.
"The Ministry of MSME…upgraded NSIC from the Schedule 'B' to Schedule 'A' category CPSE," the ministry stated.
NSIC supports MSMEs throughout their entire lifecycle through various interventions, such as skill development, capacity building, enhancing their cost competitiveness, marketing support, credit facilitation, and equity investments for growth capital, among others.
NSIC is also a key implementation partner for several flagship programmes of the central government.
