National Small Industries Corporation Ltd (NSIC), a Government of India enterprise under the Ministry of Micro, Small and Medium Enterprises (MSME) has said that it is looking to explore areas of mutual cooperation between Indian and Singaporean enterprises to expand India’s industrial presence in South East Asia region.
At the ‘Make In India: Global Business Summit 2015’ held yesterday in Singapore, NSIC chairman and managing director Ravindra Nath said, “We would like to see if there are areas of mutual cooperation whereby Indian and Singaporean enterprises can have relationships. We would like to build that type of relationships.”
The NSIC will be aiming at collaborations between Singapore and Indian enterprises, involving training from either side, sharing of technological know-how, expertise and machinery as per requirements of the two parties involved.
Nath also stated that NSIC had already initiated similar discussions with enterprises in Vietnam and Malaysia and working towards promoting, aiding and fostering the growth of small industries and industry related micro, small and medium enterprises in the country.
Earlier, the NSIC had implemented a “successful model” in building partnerships between Indian and African enterprises, which also fostered exports of India-made machineries, expertise, technologies and training for setting new enterprises, mostly in the developing economies in the region.