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The government has recently introduced a number of programmes to support the growth of MSME enterprises, including Single Point Registration, Marketing Assistance Scheme, Performance and Credit Rating Scheme, and others. Every one of these programmes is run by NSIC, the National Small Industries Corporation, a government organisation that is a part of the Ministry of Micro, Small, and Medium Enterprises (MSME).
Under the Ministry of Micro, Small and Medium Enterprises, National Small Industries Corporation (NSIC) is a recognised Government of India enterprise (MSME). NSIC has been trying to increase support for and encourage the expansion of MSME businesses throughout the nation. NSIC may also be regarded as a Mini Ratna PSU established in 1955 by the Indian government.
The goal of NSIC is to provide integrated support services that cover marketing, technology, finance, and other areas in order to support and promote the Micro, Small, and Medium-Sized Enterprises (MSMEs) Sector.
NSIC has signed a Memorandum of Understanding with many Nationalized and Private Sector Banks of India in order to fulfil all the credit needs of MSME businesses. NSIC makes it easier for MSME to receive financial support from the banks through syndication with these institutions. NSIC also follows up with banks on behalf of MSMEs and helps them complete the paperwork needed to submit bids to them.
Under the Bank Loan Facilitation Scheme, MSMEs can access bank financing depending on the banks' lending policies, and the credit proposals supported by NSIC receive particular attention. It consists of a variety of banks from both the public and private sectors.
To assist MSMEs, the Raw Material Assistance Scheme provides finance for the acquisition of raw materials (Both indigenous & imported). In a manner, this presents a chance for MSMEs to better concentrate on the production of high-quality goods.
NSIC Registration refers to the registration process with the National Small Industries Corporation (NSIC), which provides various support services to small-scale industries (SSIs) in India, including finance, marketing assistance, and technology support.
Any small-scale business, cottage industry, or manufacturing unit registered under the MSME Act can apply for NSIC Registration. This includes both new and existing enterprises.
Benefits of NSIC Registration include access to various government schemes, financial support, marketing assistance, and eligibility for government tenders. It also helps in improving the credibility and visibility of the business.
Documents typically required for NSIC Registration include a copy of the MSME registration certificate, PAN card, identity proof of the proprietor, bank details, and a business plan. Additional documents may be required based on the nature of the business.
The NSIC Registration process can take around 15-30 days, depending on the completeness of the application and the verification process conducted by NSIC officials.
Yes, NSIC provides an online application facility for registration. Applicants can fill out the application form and upload the necessary documents through the NSIC official website.