AMNS India, NSIC ink MoU to provide critical steel products to MSMEs

Gujarat-based AMNS signed a pact with National Small Industries Corporation (NSIC) to provide critical steel products to MSMEs in the sector.

ArcelorMittal Nippon Steel India (AMNS) will utilise its hypermart network for the initiative, a statement said.

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"AMNS India and NSIC join hands to revive MSMEs. AMNS India and NSIC teams will develop a network which will deliver critical products to the hard-hit MSME segment," the statement said.

NSIC will provide access to its marketing network and infrastructure, and provide financial support to market AMNS India products to relevant target markets.

Through this agreement, MSME (Micro, Small and Medium Enterprises) customers will also be able to avail special pricing which will be determined by NSIC, AMNS India, and prevailing market conditions.

The MoU (Memorandum of Understanding) was signed by Ranjan Dhar, Chief Marketing Officer, AM/NS India, and P. Udayakumar, Director (Planning & Marketing) NSIC.

Dhar said: "In view of the COVID pandemic that has hit MSMEs hard, it is the need of the hour to extend enhanced support to this segment, which continues to be the significant economic driver in India."

Udayakumar said the agreement will be a game-changer for the MSME segment. It is the first such MoU that the company has signed with a private steel major.

"As part of this agreement, we also hope to introduce various skill development projects and knowledge forums that will benefit MSMEs," he said.

In October 2020, AMNS India had announced expanding its offline retail network by adding 32 hypermarket outlets by 2021.