NSIC inks tech transfer pact with Mauritius counterpart

New Delhi: The National Small Industries Corporation (NSIC) on Monday signed a pact with Mauritius-based Small and Medium Enterprise Development Authority for technology transfer, marketing and finance and training exchange programmes.

The pact, aimed at modernising small and medium industries in both the countries is for a period of three years, the Minister of State (Independent Charge) for Micro, Small and Medium Enterprises (MSME), K.H. Muniyappa, told reporters here.

“The pact will also include technology transfers from India to Mauritius, implementation of strategy for development of incubation centres in Mauritius, exchange of business missions, facilitate fairs and to carry out industrial surveys between,” MSME Secretary, Madhav Lal, said.

The MSME sector in India, which provides employment to about 8 crore people, contributes 8 per cent to gross domestic product and its share in total exports is 36 per cent.