NSIC Registration

Nowadays, the government is promoting the growth of MSME businesses by introducing various schemes such as Single point Registration, Marketing Assistance Scheme, Performance and Credit Rating Scheme etc. All such schemes are operated under NSIC, i.e. National Small Industries Corporation which is a Government enterprise that falls under the Ministry of Micro, Small and Medium Enterprises (MSME).

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.

Schemes for MSMEs Registered under NSIC:

Single Point Registration Scheme

In India, the Government is the single largest buyer of a variety of goods. With a view to increase the share of purchase from the small-scale sector, the Government Stores Purchase Program was launched in 1955-56. NSIC registers Micro & small Enterprises under Single Point Registration scheme for participation in Government Purchases.

Infomediary Services Scheme

With a tremendous increase in the competition and melting away of the international boundaries, the demand for the information is reaching new heights. NSIC is realizing the needs of MSMEs all over and is offering Info media Services which is a one-stop, one-window bouquet of aids that will provide information on the business, technology, and finance, and also exhibit the core competence of Indian SMEs. The NSIC is offering the Infomediary Services through its MSME Global Mart; which is a Business to Business (B2B) compliant web portal.

Benefits of Infomediary Service Scheme

• It provides Interactive database for MSMEs
• It is a self-web development tool
• It provides multiple language support
• It has a centralized mail system
• It is a trust seal of NSIC
• It is a payment gateway for membership subscription

National Scheduled Caste and Scheduled Tribe Hub Scheme

India is witnessing rapid growth and prosperity and for this to be truly inclusive, all the sections of the society need to partake in the prosperity. Besides wage employment and education, the marginalized sections of the society also need to envision, create and scale - up ventures to be a major participant in this growth story. Until now, there has been some increase in the number of SC/ST owned enterprises all over India, but this needs to be increased substantially to enable the socio-economic empowerment of the SC/ST communities. Pertaining to this, the National SC/ST Hub is an initiative of the Government of India targeting the development of a supportive ecosystem towards SC/ST entrepreneurs.

The National SC/ST Hub (NSSH)

Helps in providing professional support to the SC/ST enterprises thereby enabling them to effectively participate in the public procurement process. This would involve participation by the CPSEs/Central Ministries, States, Industry Associations such as DICCI and others. The National SC/ST Hub would further work towards the development of new entrepreneurs to participate in the procurement process of leveraging on the ‘Stand up India’ Program. The Selected entrepreneurs would be provided with support of the experts and mentoring by industry experts, CPSEs, and incubators.

Benefits of National Scheduled Caste and Scheduled Tribe Hub Scheme

• The Capacity building among the existing and prospective SC/ST entrepreneurs through skill training and EDPs.
• It provides the benefit of promoting the involvement of SC/ST entrepreneurs in exhibitions and organizing special exhibitions for this purpose.
• It further helps in working with the different State Governments and other organizations in the interest of the SC/ST entrepreneurs.

The business enterprises are required to comply with the following conditions to become eligible for NSIC registration:

• Micro Enterprises with an investment up to Rs. 1 crore and Turnover up to Rs. 5 crores.
• Small Enterprises with an investment up to Rs. 10 crore and Turnover up to Rs. 50 crores.
• Enterprises must hold the MSME Certificate
• Traders are not eligible for registration under this scheme

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 priced if they have NSIC registration.
• Consortia facility for tender marketing

Reserved Quota

• 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. It 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 MSMEs in completing documentation and thereafter submitting it to the bank.
• It also helps the MSMEs 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 Material 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.

• MSME registration certificate
• Plant & Machinery details along with raw material purchase price
• Audited Balance Sheet, P&L account and Trading Account
• Account for the last 3 years duly signed by the authorized CA
• Bankers’ Report giving details of financial status of the applicant firm as per Performa “F” of the application form
• Performance Statement
• Detail of inventory and raw material in hand
• List of technical employees involved in production and services
• Quality control report for products and services
• Copy of PAN
• Copy of lease deed, Rent Agreement or Property documents
• Declaration from the Proprietor/Director declaring no connection with the large-scale unit
• Items for which registration is required
• Partnership Deed or Memorandum and Articles of Association / COI

• 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.

Validity of the NSIC Registration

NSIC registration is valid for 2 years under the Single Point Registration Scheme and has to be renewed after every 2 years through the inspection and verification by the Commercial and Technical Competence of the registered MSEs.

Corpseed Three Easy Steps to Apply for NSIC Registration

• Connect with team Corpseed @ 7558 640 644
• We will discuss your requirements & collect all your documents and file them directly with the authority
•  You'll receive your completed NSIC Registration Certificate package by E-mail & Courier.