ENA MSME 2022-04-01 12:04:02 <p><strong>New Delhi, April 1 (KNN)</strong> National Small Industries Corporation (NSIC) and Tamil Nadu Industrial Investment (TIIC), signed a Memorandum of Understanding today in Chennai.</p> <p>The MoU was signed to cooperate for support mechanisms for MSMEs in the State of Tamilnadu for the defence corridor proposal in facilitating raw materials, finances, e-commerce, and other areas.</p> <p>TIIC provides financial assistance for purchase of land, machinery and construction of buildings. The purpose could be for setting up new units / expansion / modernization / diversification of existing industries. Assistance is extended to both manufacturing and eligible service sector industries.</p> <p>It focuses on extension of assistance to Micro, Small, and Medium enterprises (MSMEs), which account for 90% of the total assistance. Further about 40% of the total assistance is availed by first generation entrepreneurs. <em><strong>(KNN Bureau)</strong></em></p> 28788 https://knnindia.co.in/news/newsdetails/msme/nsic-signs-mou-with-tamil-nadu-industrial-investment-for-support-mechanisms-to-msmes 2022-04-01 12:04:02 knnindia.co.in