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The National Small Industries Corporation was constituted in 1955 as part of the central government undertaking with the primary objective of fulfilling the machinery and equipment requirements for the development of small entrepreneurs. It was observed that the major roadblock faced by entrepreneurs is the shortage of investible funds to buy machinery and equipment. Lack of funds deprives many entrepreneurs of availing entrepreneurial opportunities.
Therefore, this corporation was established to meet this requirement of the entrepreneur. It provides equipment, plant and machinery on a hire-purchase basis. Under this, entrepreneurs can procure indigenous and imported machinery. With NSICRegistration, entrepreneurs can procure government orders for various items of stores.
New entrepreneurs are provided with special incentives. For imported machinery, the entrepreneur should abide by the provisions of the import policy of the government. Entrepreneurs must secure licenses for such imports. In certain cases, entrepreneurs have to make prototypes of the machines.
Over time and transition, this corporation has proved its worth within the country and abroad. It promotes modernization, quality consciousness, strengthening linkages with large and medium enterprises and enhances export projects and products from small-scale enterprises.
Table of Contents
The policy guidelines to the National Small Industries Corporation are provided by the Board of Directors, comprising of a full-time chairman cum Managing Director, two functional directors, one SIDBI1Nominee Director, two Government Nominee Directors and six non-official part-time directors. The corporation is taken care of by a dedicated team of professionals at various levels. It functions through 123 offices located all across India and one office in South Africa.
The National Small Industries Corporation functions through its 9 zonal offices, 33 branch offices, 14 sub-offices, 10 Business Development Extension Offices, 5 technical services centres, 3 extension centres and 2 software technology parks supported by a team of more than 500 professionals across the country.
The different types of schemes are as follows:
The objective to implement this scheme was to increase the level of government purchases from the Small Scale industries.
This scheme aims to build trust and independent third-party opinions about the creditworthiness and competence of MSEs. This scheme also makes credit available at low-interest rates.
This scheme aims to support the MSME industry by financing their purchase of raw materials for imported and indigenous products. It provides an opportunity for MSMEs to emphasise manufacturing or producing quality products.
This scheme is a B2B portal. It was initiated with the objective to provide technology and financial assistance to MSMEs at affordable prices.
All MSMEs registered under the scheme are offered various levels of skill and development training and technical support as well. These trainings are provided at the Technical Services Centres.
The major objective of this scheme is to promote products manufactured and produced by MSMEs.
Now let us discuss the principal subject of this article, i.e., the role of NSIC. There are various roles for this corporation. Below we have discussed some of them:
NSIC also provides small enterprises the following support services through its technical services centres and extension centres:
It is worth mentioning here that NSIC also plays the role of organizing the supply of raw materials, such as coal, steel, iron etc, required by SMEs by mediating with other governmental companies such as Coal India Limited, Hindustan Copper Limited and such other companies who produce these materials to provide the same at concessional prices to the SMEs.
Recently it has also started providing help by setting up incubation centres and international technology fairs to help emerging small businesses get some exposure.
The National Small Industries Corporation has a significant position among the institutions set up to assist small-scale industries, and it has been working to complete its mission of helping, promoting and fostering the growth of Micro, Small and Medium Enterprises in the country. Therefore, the role of NSIC is critical for the development of small industries.
The NSIC has been trying to support, encourage, and promote the growth of micro, small, and medium-sized businesses nationwide. NSIC functions through a network of offices and technical centres spread nationwide. Additionally, NSIC has established a Training and Incubation Centre run by qualified personnel.
To lend small-scale enterprises machines under a lease-purchase arrangement. to offer a leased facility for equipment. to assist in the export marketing of small-scale industries’ products.
NIC aimed to offer the Central and State Governments technology-driven solutions for different development-related issues. The Central Government has benefited greatly from the adoption and support of Information and Communication Technology (ICT) and eGovernment provided by NIC.
• Free distribution of bids – One of the main advantages of NSIC registration is that it makes it possible to distribute bids completely free of charge to qualified MSMEs. • Lack of EMD deposit – MSMEs that have obtained NSIC registration are exempt from making an EMD. creation of SSIs.
Entrepreneurs may obtain government orders for a variety of retail products by registering with NSIC. Special incentives are offered to new business owners. The business owner must follow the government’s import policy rules while using imported machinery. To import such goods, businesspeople must get a licence.
Its corporate and registered offices are in New Delhi. As of 31.03.2021, the corporation had 670 regular workers (502 executives and 168 non-executives).
Since NSIC is a company that reports to the Ministry of MSME, MSME’s purview is broader. While the Ministry of MSME provides for all small firms’ diverse business needs, NSIC primarily focuses on the commercial development of the nation’s micro and small businesses.
The National Small Enterprises Corporation offers a variety of assistance to small-scale enterprises so they can import or purchase raw materials domestically. This organisation also facilitates quick loans to pay for acquiring raw materials.
Government procurement, marketing assistance, performance evaluation, the small industry credit rating scheme, and more one-point registration.
Manufacturing and service-related Micro and Small Enterprises (MSEs) may register. The Scheme does not permit registration of traders. The SPRS Certificate is valid for two years from the date of registration and is then renewed every two years after that.
The National Small Industries Corporation Ltd. would waive the tender fee and the EMD for any bidders who have registered with them through the Single Point Registration Scheme, the District Industries Centre (DIC), or Udyog Aadhaar.
In order to complete the NSIC registration process, you must submit the following paperwork with your NSIC certificate application: Performance Declaration. a self-attested copy of the premises’ lease agreement or ownership documentation. A copy of the MSME registration acknowledgement.
A 3000-rupee registration fee is required if your microbusiness has a revenue of less than one crore. However, you must pay 5000 rupees for registration if your small business has a revenue of more than one crore.
Read our article: Single Point Registration Scheme of NSIC: A Complete Checklist
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