Bhubaneswar: Odisha Small Industries Corporation (OSIC) has achieved a turnover of Rs.531 crore during 2016-17 with a net profit of Rs.7.83 crore. OSIC has been undertaking various commercial, marketing and construction activities. Majority of its turnover, however, comes from commercial and marketing activities.
During the review meeting held under the Chairmanship of Shri L.N. Gupta, Additional Chief Secretary, MSME, the turnover target of OSIC for 2017-18 has been enhanced to Rs.750 crore. During the meeting, the OSIC has been asked to focus on providing requisite raw material and consortium marketing services to MSMEs. For this purpose, OSIC will convene meetings of the MSMEs, sector-wise and explore possibility of enhancing consortium marketing of their product/services. Similarly, marketing of items under ‘Odi-Food’ and ‘Odi-Tech’ brand will be enhanced substantially.
For better implementation and monitoring of civil and electrical projects undertaken by OSIC, it has been decided to take officers on deputation from Works and Energy Departments. With their joining, the turnover of civil and electrical works of OSIC will be enhanced substantially. OSIC has kept the target of execution of electrical works to the tune of Rs.130 crore during 2017-18 with the help of MSME construction partners. Shri Niranjan Sahu, MD, OSIC informed during the meeting that OSIC is currently executing RE work worth Rs.532 crore in Jharsuguda, Kalahandi, Bolangir, Nuapada, Bargarh and Kandhamal districts. It was also decided in the meeting to increase the business of iron, steel and bitumen marketing during the current financial year 2017-18.
OSIC has also been handling Youth Innovation Fund. It has been decided to give wide publicity amongst the youth of the state through all the technical and professional institutions on continuous basis. OSIC has so far extended Rs.36 lakh assistance to 61 youths. During the current year, it is expected to assist at least 150 youths under the scheme.