Navaratna PSU Nalco is planning to increase its purchase preference from MSMEs from the existing 15 percent to 20 percent.

Nalco chairman-cum-managing director T K Chand also said the company would enhance the procurement volume from the MSME sector.NALCO to increase purchases from MSMEs

“While Nalco provides a large market for the MSMEs of Odisha and has supported the growth of the sector as a responsible mother plant, the company is planning to increase the purchase preference from MSMEs from the existing 15 percent to 20 percent,” Chand said.

Addressing a seminar on ‘Developing MSME Sector in Odisha’ as part of the MSME Trade Fair, he said the company was interested in greater collaboration by entering into an MoU with the Department of MSME to further boost the small and medium scale industries of the state.

While complimenting the department of MSME for various initiatives taken up for development of ancillary and downstream industries, Chand also highlighted different steps taken by Nalco in this regard.

He said Nalco made purchases amounting to Rs 350 crore from MSMEs recently, out of which orders worth Rs 250 crore were from Odisha-based MSMEs.

“The percentage will go up in the future because Nalco is now focused towards inclusive growth by supporting the MSME and ancillary industries of the state,” Chand said.

Stating that Nalco already has a system in place to support its MSME vendors, the CMD said the company has played an exemplary role in providing specific drawings, designs, technology and service support to MSMEs for its products.

(moneycontrol.com)