Crisis in OSIC, All Branches Defunct With No New Biz

The Odisha Small Industries Corporation (OSIC), the Cuttack-headquartered public sector undertaking to aid and promote MSMEs across Odisha is facing a severe crisis.

- PRASANJEET SARKAR @Rourkela

With its operations virtually shut down in all 12 branches including Rourkela, OSIC's decline has gone largely unnoticed. Despite its potential to engage with MSMEs in Sundargarh and revive its fortunes, the Rourkela branch and its depot at the Rourkela industrial estate have been non-operational for last two years.

The corporation's business turnover has dropped since Tata Steel ended its association in May 2024. The corporation, aimed to support MSMEs for sustained growth and industrialisation has 309 registered vendors and around 500 MSMEs ranging from fabrication units to sponge and iron industries. However, it has failed to generate new business.