NSIC and Aramco Asia Signed MoU for MSME Development in Oil & Gas Sector

An MoU has been signed between NSIC and Aramco Asia for the development of MSME Ecosystem in India in Oil & Gas Sector.

Mr.. P. Udayakumar, Director (P&M) of NSIC and Mr. Mohammed Al Mughirah, President, Aramco Asia represented their respectiuve organizations and signed the MoU. The dignitaries H.E. Dr. Said Bin Mohammed Al Sati, Ambassador of Saudi Arabia, Mr. Abdullah Melfi, Strategic Sourcing Head, Aramco, and more than 200 units from India witnessed the event.

NSIC is the flagship Mini Ratna PSU under the Ministry of MSME in the business of facilitating MSMEs in India and Aramco is world's largest Oil & Gas Company from Govt. of Kingdom of Saudi Arabia having reported revenue of USD 355 Billion Dollar (2018) and estimated market value of 1.5 Trillion Dollars.

This MoU will pave a way for accredited Indian MSMEs to carve out space as vendors in the Global space. Since NSIC is committed towards enablement of Indian MSMEs and Oil & Gas sector is considered to be a sunrise sector for MSMEs. This MoU is expected to bring great opportunities closer to Indian MSMEs of working with world-leading oil and gas companies.