Describe the objectives of National Small Industries Corporation.
The objectives of the National Small Industries Corporation are described below:
1. Assistance in marketing:
The purpose of this corporation is to assist in the marketing of small industrial products in domestic and foreign markets. In some cases, it also arranges direct sales.
2. Guarantee of loan repayment:
Sometimes the National Small Industries Corporation guarantees repayment of loans taken from other financial institutions.
3. Financial assistance to small industries:
One of the objectives of this organisation is to provide necessary financial support to small industrial enterprises and provide necessary technical advice to industrialists.
4. Assistance in purchase of equipment:
Small-scale industries cannot purchase machinery due to lack of necessary funds. National Small Industries Corporation helps small-scale industries to purchase machinery and accessories on low-interest installment terms.
5. Establishment of small-scale industries as complementary industries:
The objective of the National Small Industries Corporation is to develop small-scale industries in such a way that they can act as complementary industries to large-scale industries. This corporation provides essential materials and useful accessories for setting up large industries.
6. Procurement of capital:
One of the objectives of this corporation is to undertake the issue of shares, debentures, bonds, etc. of small-scale industries. Through this, small-scale industries are guaranteed to procure capital.
7. Use of advanced technology:
Another objective of the National Small Industries Corporation is to provide necessary advice and help small-scale industries in modernizing the industry by using advanced technology to survive in the competitive market.
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