The HinduJun 3, 2022MSMEs to get funding for growthNSIC Venture Capital Fund Limited, a wholly-owned subsidiary of National Small Industries Corporation (NSIC), has commenced operations and will invest in Micro, Small, and Medium-scale Enterprises (MSMEs) for their growth, P. Udayakumar, Director (Planning and Marketing), NSIC, said on Thursday.Speaking virtually at the inaugural of INTEC 2022, a five-day industrial fair organized by the Coimbatore District Small Industries Association, he said that prior to COVID-19, the MSME clusters in the country had huge orders. However, after the first wave of the pandemic, the industries slowed down. Demand is picking up now and the NSIC and Ministry of MSMEs are launching several initiatives for the MSME units. The Emergency Credit Line Guarantee Scheme (ECLGS) has helped the MSMEs to some extent. The Union government has mandated NSIC to implement a growth fund for the MSMEs and the NSIC Venture Capital Fund has been formed for this purpose. “We will invest in MSMEs. Works have started for this,” he said.Read more at The Hindu
NSIC Venture Capital Fund Limited, a wholly-owned subsidiary of National Small Industries Corporation (NSIC), has commenced operations and will invest in Micro, Small, and Medium-scale Enterprises (MSMEs) for their growth, P. Udayakumar, Director (Planning and Marketing), NSIC, said on Thursday.Speaking virtually at the inaugural of INTEC 2022, a five-day industrial fair organized by the Coimbatore District Small Industries Association, he said that prior to COVID-19, the MSME clusters in the country had huge orders. However, after the first wave of the pandemic, the industries slowed down. Demand is picking up now and the NSIC and Ministry of MSMEs are launching several initiatives for the MSME units. The Emergency Credit Line Guarantee Scheme (ECLGS) has helped the MSMEs to some extent. The Union government has mandated NSIC to implement a growth fund for the MSMEs and the NSIC Venture Capital Fund has been formed for this purpose. “We will invest in MSMEs. Works have started for this,” he said.Read more at The Hindu
