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Aiming to extend schemes and other services to MSMEs, the National Small Industries Corporation Ltd has partnered with Walmart Global Sourcing India Private Ltd.

A memorandum of understanding (MoU) was signed by Gaurang Dixit, Chairman and Managing Director, NSIC and Prameela Mallaiah, Director and Hub Leader, Walmart in the presence of Union MSME Minister Narayan Rane.

Through this MoU, the NSIC will be able to extend the NSIC schemes and other services to MSMEs who would participate in various Vriddhi programmes. Moreover, the MSMEs would get the exposure to various advantages of gaining working capital, bulk procurement support etc. under various opportunities offered by the NSIC.

MSMEs who are part of the NSIC ecosystem will also be linked to the Vriddhi programme in relevant clusters and get access to existing business training content, advisory support, tools and knowledge under the programme - "free of cost". The MoU will play a critical role in enabling MSMEs reach $2 trillion worth of exports by 2030.

During the event, Rane said: "I'm glad to see that Walmart's Vriddhi programme 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 6.3 crore MSMEs that employ more than 11 crore people. We look forward to Walmart's continued support of the growing MSME sector in the country."