Odisha Small Industries Corporation (OSIC), a state run PSU, has achieved a turnover of Rs 531 crore during 2016-17 with a net profit of Rs 7.83 crore, official sources said. Majority of its turnover comes from commercial and marketing activities, said additional Chief Secretary for MSME L N Gupta. The the turnover target of OSIC for 2017-18 has been enhanced to Rs 750 crore, he added.

Gupta asked OSIC to focus on providing requisite raw material and consortium marketing services to MSMEs. OSIC will convene meetings of the MSMEs, sector-wise and explore possibility of enhancing consortium marketing of their products and services. He said marketing of items under ‘Odi-Food’ and ‘Odi-Tech’ brand would be enhanced substantially.

For better implementation and monitoring of civil and electrical projects undertaken by OSIC, the government decided to take officers on deputation from Works and Energy Departments, Gupta said. 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, said Niranjan Sahu, MD, OSIC.

He said OSIC is currently executing RE (rural electification) work worth Rs 532 crore in Jharsuguda, Kalahandi, Bolangir, Nuapada, Bargarh and Kandhamal districts. It was decided at a review meeting to increase the business of iron, steel and bitumen marketing during the current financial year 2017-18, he added.

Source: Financial Express