NITCON Ltd is a Technical Consultancy Organisation (TCO), set up in the year 1984, with an aim to extend Consultancy services for growth and development of Industrial Units. It is an ISO 9001:2015 certified company.
The concept of TCOs is based on a World Bank recommendation to Government of India way back in 1970s as well as the concurrence of Reserve Bank of India to create appropriate structures and systems to extend dependable and affordable professional consulting services to Indian SMEs for giving pace to industrialization and with the objective of facilitating overall industrial development of the country. With this background, Government of India had initiated and proposed setting up of a TCO in each State. It is a Board managed company having nominees of various Banks and All India/ State Financial Institutions on its Board of Directors. NITCON has all along been a self-sustaining, dividend paying organisation.
Keeping in view the majority shareholding by government institutions, NITCON accounts are audited by Auditors appointed by Comptroller and Auditor General (CAG) of India, New Delhi, Over the past 3½ decades, NITCON has widened the range of services being offered to Institutions/ Industries/ Private promoters viz.:-
Project Advisory Services
Industrial/ Collateral Security Valuations
Lender Engineer Advisory Services
Working Capital Assessment
Monitoring of Projects financed by FIs/Banks
Techno-Economic Viability Studies (TEVS)
Corporate Debt Restructuring Reports (CDR)
Project Management Consultancy Services
Energy Conservation/ Management Studies towards “Green Initiative” for the industries
Skill Development Trainings
Skill development trainings under various Government Schemes
Trainings/ services under Corporate Social Responsibility (CSR).
NITCON has conducted over 5000 advisory studies pertaining to the above mainly on behalf of Public Sector Banks/ State Industrial Development Corporations, Ministry of MSME and various Govt. of India departments.
To expand its horizon of activities, NITCON has forayed into IT / IT enabled business and services viz. Digitisation of records, Customised Software development, as well as into the field of Education services. In addition, support for development of “Smart Cities” is being extended by NITCON by implementing Software interventions for the “Automation of Urban Local Bodies”.
To address the skill requirement of the industries, NITCON has obtained the status of Training Partner of National Skill Development Corporation (NSDC) for imparting skills towards “Capacity Building” initiative of Govt. of India, to enable beneficiaries either to opt for self employment or wage employment.