Post News Network
Bhubaneswar, June 2: Orissa Small Industries Corporation Ltd (OSIC) and World Trade Centre (WTC) will soon sign a memorandum of understanding (MoU) to facilitate the growth of MSME sector in the state through promoting their products in outside markets.
According to a state government communiqué, the agreement between OSIC and WTC will facilitate exchange of trade and investment related information.
The agreement will also help in building linkages for innovation and technology support by providing expertise and help mobilize overseas financial assistance for different joint activities.
Notably, despite having huge demand for mineral and non-mineral products of the state, SME sector entrepreneurs of the state are not able to export their products due to lack of proper information, logistics arrangement and adequate support.
In this perspective, OSIC is planning to provide a strong business network where it can facilitate the export activity of state SMEs, the letter said.
“In view of this, OSIC has created an export division in the corporation as per the decision of its board recently,” the letter added. OSIC has a merchant license issued by DGFT and has past experience in dealing with exports, which will facilitate exports from the state.
Orissa has seen gradual growth in exports in the last five years with figures reaching Rs 19,551.90 crore in 2014-15. Exports were at Rs 17,099 crore during 2010-11 period.
