Micro, Small and Medium Enterprises (MSMEs) will soon get an increase in procurement orders from Nalco. Nalco Ltd Chairman and Managing Director T K Chand said that the company will increase procurement of materials from the MSME from the current INR 400 crore to INR 1,200 crore.
Chand said that with 64 per cent of India’s population in the working group, this nation is emerging as the youngest nation. This demographic dividend needs to be properly nurtured and cultivated so that the country can achieve a 2 percent increase in GDP.
He added that this is possible if the huge talent pool is provided proper employment and MSME is the right avenue to create employment.
Chand explained that an investment of INR 1 crore in MSMEs would create 85 jobs as compared to just one job in large industries. He added that this could be the game-changer. He said this while speaking at a convention that Odisha Assembly of Small and Medium Enterprise (OASME) organised.
He acknowledged the importance of the Angul Aluminium Park that was set up as a joint venture with IDCOL with an intention to promote downstream and ancillary industries. He said industry proponents are responding positively to this park and have requisitioned for 5 lakh metric tonnes of aluminium.
Chand said that increasing market demands would necessitate setting up of more aluminium parks of higher capacity – up to 1 million metric tonnes – to cater to customers from all over India.
