Advantages of national industrial development corporation of india
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The NIDC plans and formulates projects for setting up new Industries or for developing new lines of production. It undertakes establishment of such undertakings which in the opinion of the central government would contribute to the industrial development of the country.
The main objective of the corporation is promotion of industries rather than granting of finance. It builds up industrial schemes of its own or collaborates with the private industry. It can also render assistance for the modernisation of industries.
The NIDC has been started for providing assistance to cotton, jute, and sugar industries for modernisation. It has established a consultancy in private and public sector.
The MIDC was established on 20th October 1954 by the Central Government which has been regarded mainly as the instrument to achieve a balanced development of Industries in the private as well as the public sector.
The main objective of the corporation is promotion of industries rather than granting of finance. It builds up industrial schemes of its own or collaborates with the private industry. It can also render assistance for the modernisation of industries.
The NIDC has been started for providing assistance to cotton, jute, and sugar industries for modernisation. It has established a consultancy in private and public sector.
The MIDC was established on 20th October 1954 by the Central Government which has been regarded mainly as the instrument to achieve a balanced development of Industries in the private as well as the public sector.
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