Maharashtra Small Scale Industries Development Corporation Ltd. (MSSIDC Ltd.) a Government of Maharashtra Undertaking was established on 19th October 1962 under the Companies Act 1956. The Corporation functions under the control of the Industries Department, Government of Maharashtra. The Government of Maharashtra has 99.31% shareholding and State Trading Corporation of India Ltd. has 0.69% shareholding in the Corporation. The authorized share capital of the Corporation is Rs. 20.00 crore. The paid-up share capital of the corporation is Rs.14.50 crores.
As per the Memorandum & Articles of Association of the Corporation, the main object is to aid, counsel, assist, finance and protect and promote the interest of small industries in Maharashtra whether owned or run by Government, Statutory body, Company, Firm or Individuals and to provide them with capital, credit means, resources, and technical and managerial assistance for the prosecution of their work and business to enable them to develop and improve their methods of manufacturing, management and marketing and their technique of production. The Memorandum & Articles of Association also include the activities of an establishment of an industrial estate and providing financial assistance for the development of small-scale industries.
The Government established independent Corporations for various works related to small-scale industries. The work of MSSIDC was initially restricted to supply of raw materials and providing marketing assistance to small-scale industries for their development. Due to changes in the policies of the Government of India and State Government, some of the activities like the distribution of iron & steel, distribution of coal, and rate contracts are stopped so the Scope of MSSIDC is restricted.
MSSIDC plays a vital role in the revival, development, and growth of traditional handicrafts of Maharashtra by responding to the diversified needs of rural artisans and marketing their products through participation in domestic as well as international exhibitions.
MSSIDC has its Handicraft Emporia located in Mumbai, Paithan & Delhi for sales promotion of the traditional handicrafts of Maharashtra. The Corporation had its traditional paithani saree weaving center at Paithan, Dist.Chh.Sambhaji Nagar to preserve the traditional 2000 year old languishing paithani saree weaving art.
Over the years, MSSIDC has grown to become India’s leading Small Scale Industries Development Corporation, continuously responding to the expanding and diversified needs of Small Scale Industries and handicraft artisans by providing various support services to them.
