NSIC signs MoU with Coir Board for spurring growth of MSMEs

New Delhi: National Small Industries Corporation (NSIC), a Miniratna PSU under the Ministry of Micro, Small and Medium Enterprises (MSME), has informed that it has signed a Memorandum of Understanding (MoU) with Coir Board, a statutory body of the government on Saturday at Vellore.

The MoU has been signed by NSIC's Director (Planning and Marketing) P Udayakumar, and Coir Board's Secretary Kumar Raja at Vellore in the presence of Cabinet Minister for MSME Nitin Gadkari and other senior officials of the government and the two organisations. According to the MoU signed by NSIC and Coir Board, both the organisations will work together to enhance their outreach and offerings across the country and will be responsible for the growth of MSME sector. NSIC had signed an MoU with Sikkim government for the promotion and development of the MSME sector in the state through NSIC package, recently.

ALSO READ: NSIC launches NSIC MSMEmart mobile App

Coir Board

The Coir Board is a statutory body, under MSME, established by the government under the Coir Industry Act 1953 for the promotion and development of the coir (coconut fibre) industry in India. It is based in Kochi and Alappuzha. The head office of the Coir Board is in Kochi and the research and training office is in Kalavoor, Alappuzha. The coir industry employs more than 7 lakh people, a majority of whom are from rural areas who belong to economically weaker sections of society.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)