As the flagship organization of the Ministry of Micro, Small, and Medium Enterprises, National Small Industries Corporation (NSIC) is dedicated to empowering small businesses across the nation. Through its innovative schemes, such as the Single Point Registration Scheme and MSME Global Mart, NSIC facilitates seamless government procurement and expands the market reach of SMEs, thereby boosting MSME registrations in the country. Furthermore, NSIC’s comprehensive services include technology upgradation, credit facilitation, and export promotion, ensuring that SMEs stay competitive on a global scale. By providing a diverse range of support services, NSIC is paving the way for the growth and prosperity of small-scale industries in India.

What is National Small Industries Corporation?

The National Small Industries Corporation (NSIC) is a government of India organization that aims to help develop, stimulate, and service small-scale micro and medium-sized enterprises. Established in 1955, NSIC has been instrumental in promoting the growth and development of small and medium-sized enterprises (SMEs) in India.

Mission and Vision of NSIC

The mission of NSIC is to promote and support the Micro, Small, and Medium enterprises (MSMEs) Sector by offering integrated support, including marketing, trading, technology, finance, and other services. The vision of NSIC is to develop and promote small-scale industries in the country.

Functions

The NSIC operates under the aegis of the Ministry of Micro, Small, and Medium Enterprises and is entrusted with the important role of offering a diverse range of services to small businesses throughout the nation. The functions of NSIC include:

• Business Support Services: Providing a wide range of business support services to small and medium enterprises, including marketing assistance, raw material procurement assistance, technology support, credit facilitation, and training and consultancy.
• Credit Facilitation: Facilitating credit for small businesses through tie-ups with various financial institutions, banks, and non-banking financial companies.
• Training and Consultancy: Offering guidance and support to SMEs in various aspects of business, including finance, marketing, operations, human resources, and more.
• Technology Upgradation: Assisting SMEs in enhancing their technology and infrastructure to improve their competitiveness and productivity.
• Export Promotion: Supporting SMEs in expanding their export activities and entering new markets.
• Entrepreneurship Development: Nurturing and promoting entrepreneurship among India’s youth through comprehensive training and support.

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Types of Schemes in NSIC

The NSIC offers various schemes to support SMEs, including:

• Single Point Registration Scheme: Facilitating government procurement and enhancing the market reach of SMEs.
• Raw Material Assistance Scheme: Financing raw material purchases for products from local and global markets.
• MSME Global Mart: A B2B portal providing technology and financial support at reasonable prices. Consortia and Tender Marketing Scheme: Marketing and promoting products produced by industry participants.

Difference Between MSME vs NSIC

Eligibility Criteria for NSIC

To be eligible for NSIC registration, a business must be a legal entity with a classification as a micro, small, or medium enterprise. The business must also have a turnover limit of up to INR 1 crore. The eligibility criteria for NSIC registration are as follows:

• Legal Entity: The business should be a legal entity, such as a Pvt Ltd company, sole proprietorship, partnership firm, LLP or cooperative society.
• Classification: The business should be classified as a micro, small, or medium enterprise based on the investment in plant and machinery or equipment.
• Registration: The business should be registered with the appropriate government authorities.
• Not Defaulting: The business should not be a defaulter to any bank or government authority.

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Key Elements of NSIC

Some of the key elements of NSIC include:

• Facilitating access to credit and loans through various plans and tie-ups with financial institutions.
• Acquiring and distributing raw materials, machinery, and equipment competitively.
• Providing training and expertise improvement projects to upgrade SMEs’ specialized and administrative abilities.
• Promoting advisory services to SMEs on different aspects of business, including management, finance, marketing, and more.
• Promoting the products of SMEs through market development assistance, support in trade fairs and exhibitions, etc

Organization Structure of NSIC

The organization structure of NSIC includes:

• Board of Directors: Consisting of a full-time chairman/managing director, two functional directors, one SIDBI nominee director, two government nominee directors, and six unofficial part-time directors.
• Zonal Offices: 9 zonal offices across India.
• Branch Offices: 33 branch offices across India.
• Sub-Offices: 14 sub-offices across India.
• Business Development Extension Offices: 10 offices across India.
• Technical Services Centres: 5 centres across India.
• Extension Centres: 3 extension centres across India.
• Software Technology Parks: 2 software technology parks across India.

Conclusion

The National Small Industries Corporation (NSIC) plays an important role in India’s economic growth, particularly in the growth and development of small-scale industries. Its functions include a wide range of support services aimed at empowering SMEs and entrepreneurs. With its extensive network of offices and centres across India, NSIC is an indispensable force driving the growth and prosperity of small-scale industries in India.

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