National Small Industries Corporation (NSIC) is a Government of India enterprise under the Ministry of Micro, Small, and Medium Enterprises (MSME). NSIC was established to promote, aid, and foster the growth of MSMEs in India. It provides various support mechanisms, including marketing assistance, financial aid, and technology support, to empower small-scale industries.
The primary objective of NSIC is to enhance the competitiveness of MSMEs by offering integrated support services. Key focus areas include:
• Marketing Support: Facilitating access to national and international markets.
• Financial Assistance: Providing credit support through tie-ups with banks.
• Technology Support: Helping MSMEs upgrade their technology and manufacturing processes.
• Procurement Assistance: Enabling MSMEs to participate in government tenders without financial constraints.
• NSIC establishes a Marketing Intelligence Cell to analyze market trends and buyer requirements.
• Maintains a database of bulk buyers, government, and PSU procurement lists.
• Provides a platform for Indian MSMEs to connect with international buyers.
• NSIC forms consortia of small businesses producing similar products to enable them to bid for large government and corporate contracts.
• Facilitates financial assistance to MSMEs for fulfilling large orders.
• Registered MSMEs are eligible for government tenders without any cost.
• Exemption from Earnest Money Deposit (EMD) while bidding for tenders.
• 20% of central government procurement is reserved for MSMEs, enhancing opportunities for small businesses.
• NSIC provides financial support and subsidized rentals to MSMEs for national and international trade fairs and exhibitions.
NSIC offers various financial assistance schemes, including:
o Bill Discounting Facility
o Bank Credit Facilitation
o Infrastructure Support at subsidized rates
• NSIC assists MSMEs in upgrading their technology to remain competitive.
• Provides consultancy services for adopting innovative production techniques.
• NSIC operates msmemart.com, a dedicated B2B portal that enables MSMEs to sell their products and connect with buyers globally.
• Businesses must be registered as MSMEs under Udyam Aadhaar (or previously EM-II under MSME Act).
• The enterprise must be engaged in manufacturing or service-related activities.
• Firms must have at least one year of business operations before applying.
Step 1: Online Application Submission
• Visit the NSIC portal at nsicspronline.com.
• Create an account and fill out the online application form.
Step 2: Upload Required Documents
• Udyam Registration Certificate
• PAN Card and GST Registration
• Audited Balance Sheets for the last three years
• Copy of ownership documents (Rent Agreement/Lease Deed if applicable)
• Performance Statement from major clients
• Banker’s Report detailing financial credibility
Step 3: Payment of Registration Fees
Fees vary based on turnover:
• Turnover up to INR 100 Lakhs: INR 3,000 (Micro Enterprises), INR 5,000 (Small Enterprises)
• Turnover above INR 100 Lakhs:
o INR 3,000 + INR 1,500 per additional INR 100 Lakhs (Micro Enterprises)
o INR 5,000 + INR 2,000 per additional INR 100 Lakhs (Small Enterprises)
Step 4: Verification and Approval
• NSIC officials will conduct a physical verification of the enterprise.
• Post-verification, a Single Point Registration Certificate (SPRC) is issued, valid for two years (renewable thereafter).
Example: A textile manufacturer in Gujarat registered under NSIC and leveraged the Single Point Registration Scheme to secure government contracts worth INR 50 Lakhs annually. By utilizing NSIC’s marketing support, the enterprise expanded exports to Southeast Asia, significantly increasing revenue.
NSIC registration is an excellent opportunity for MSMEs to gain financial assistance, market exposure, and government procurement benefits. The process is simple, cost-effective, and provides long-term advantages to small businesses aiming to expand their operations. For hassle-free registration, compliance guidance, and regulatory filings, businesses can consult experts like ReturnFilings.Com to ensure smooth and efficient processes. For professional assistance, reach out to us on email: info@returnfilings.com or on whatsapp: https://wa.me/919910123091.
