NaduIndustrial Investment Corporation (TIIC) will soon be entering the DEFENCE sector by extending support for MSMEs to start maintenance and repairs of armoured vehicles in association with the Armoured Vehicles Nigam Limited.
This is a newest step on its path of Growth of the corporation which has, since its founding in 1949, grown from a loan disbursing agency to an institution that aids the overall economic growth of the state.
TIIC will soon enter into a memorandum of understanding with the Armoured Vehicle Nigam Limited (AVNL) based on which the corporation will explore the possibilities to facilitate and equip the MSMEs and also the enterprises it is working with to carry out the maintenance, repairs and overhaul of armoured vehicles.
The tie-up with Coddisia will ensure financial assistance to start-ups while the association with CII will help TIIC to extend guidance and loans to MSME to improve the administrative and technological skills to meet the requirement of the defence sector.