New Delhi: National Small Industries Corporation Limited (NSIC) has signed an MoU with Walmart Global Sourcing India Private Limited on December 6. The MoU has been signed by NSIC's Chairman and Managing Director (CMD) Gaurang Dixit and Director and Hub Leader of Walmart Prameela Mallaiah in the presence of Union Minister of MSME Narayan Rane.
Through this MoU NSIC will be able to extend the NSIC schemes and other services to MSMEs who would participate in various Vriddhi programs. Moreover, the MSMEs would get exposure to various advantages of gaining working capital, bulk procurement support etc. under various opportunities offered by NSIC. MSMEs who are part of the NSIC ecosystem will also be linked to the Vriddhi program in relevant clusters and get access to existing business training content, advisory support, tools and knowledge under the program – "free of cost." The MoU will play a critical role in enabling MSME's reach $2 trillion worth of exports by 2030.
During the event, Rane said, "I'm glad to see that Walmart's Vriddhi program has enabled a large number of Indian MSMEs to expand, boost their production, and experience growth. Walmart has been instrumental in enabling MSMEs with training and capacity building, especially through the pandemic. The Indian MSME sector currently comprises of 6.3 crore MSMEs that employ more than 11 crore people. We look forward to Walmart's continued support to the growing MSME sector in the country."
Adding to what Rane said, Gaurang Dixit, NSIC CMD said, "NSIC is committed to the growth and development of a robust MSME sector in India. We look forward to working with Walmart Vriddhi to help MSMEs under the program get access to our schemes and make the learning resources of Vriddhi available to MSMEs under NSIC. Through this partnership, MSMEs across the country can get the necessary support required to further expand their businesses nationally and across the globe."