National Small Industries Corporation (NSIC) Registration
National Small Industries Corporation (NSIC) is a certified Government of India Enterprise under the Ministry of Micro, Small and Medium Enterprises (MSME). NSIC has been working to promote aid and foster the growth of MSME’s enterprises in the country.
NSIC can also be treated as a Mini Ratna PSU set up by the Government of India in the year 1955.
The mission of NSIC is to promote and support the Micro, Small & Medium Enterprises (MSMEs) Sector by providing integrated support services encompassing Marketing, Technology, Finance, And other services.
NSIC Registration Procedure in India
Submitting an application at one of the NSIC offices along with mandatory documents
On successful submission of the application, the NSIC forwards the application to a zonal branch for technical inspection of the unit.
On receiving the inspection report, NSIC grants or rejects the registration.
Benefits for NSIC Registration
The benefits for the NSIC registration are as follows:
Development of Small Scale Businesses
In order to support and uplift the small-scale business sector, NSIC has reserved around 358 items for purchase only from Small Scale Industries.
Free Allotment of tenders
Previously the allotments of tenders required a fee, but with the NSIC registration it provides us a privilege to file the tenders totally free of cost to eligible MSMEs.
No EMD deposit
Companies registered under NSIC are not required to pay Earnest Money Deposit (EMD).
Assistance in Government tenders: The MSMEs enterprises who are bidding for the tenders are allowed to supply unto 20% on reduced prices if they have NSIC registration.
Consortia facility for tender marketing.
To support and promote MSMEs department executes services relating marketing, technology, finance etc.
Central Ministry assure a minimum of 25% of the total annual purchases of products and services produced by MSEs and out of 25% purchase 4 % is reserved for units owned by schedule case and schedule tribes. 3% is reserved for women enterprises.
To encourage entrepreneurship, NSIC department has development capacity building policy and institutional framework and business development services to MSEs.
Credit Facilitation Through Bank
To meet all the credit requirements of MSME units, NSIC has entered into a Memorandum of Understanding with various Nationalized and Private Sector Banks of India. Through syndication with these banks, NSIC facilitates MSME in accessing credit support from the banks. NSIC further, assists MSMEs in the completion of the documentation for submitting the proposals to the banks and also does the follow-up with the banks.
Under Bank Credit Facilitation Scheme, the MSMEs can get access to finance from banks based upon their lending policy, and focused attention is given to the credit proposals sponsored by NSIC. g an integrated mix of various public and private sector banks.
It provides an option for MSMEs to apply for a new bank or switch over of an account to a different account.
It further, helps the MSME in completing documentation and thereafter submitting it to the bank.
It also helps the MSME in getting a liberal rate of interest from the banks after a favorable rating is awarded to the unit under the Performance and Credit Rating scheme of the ministry.
RMA against Bank Guarantee
Raw Material Assistance Scheme aims to help the MSMEs by financing the purchase of Raw Materials (Both indigenous & imported). This in a way gives an opportunity to MSMEs to focus in a better way on the manufacturing of quality products.
Financial Assistance for procurement of Raw Materials up to 180 days.
MSMEs have helped to avail Economies of Purchases like bulk purchase, cash discount, etc.
The units registered under this scheme of NSIC are eligible to get benefits under Public Procurement Policy for MSE's order.
Corpseed Three Easy Steps to Apply for NSIC Registration
1. Connect with team Corpseed @ 7558 640 644
2. We will discuss your requirement & collect all your documents and file them directly with the authority
3. You'll receive your completed NSIC Registration Certificate package by E-mail & Courier.