Since Independence, the Government has been trying hard to bring small industries parallel in the line of the economy. The government launched various five-year plans to boost these sectors and finally set up a regulating and monitoring body known as National Small Industries Corporation.
An Overview of NSIC
NSIC is a government body that comes under the Ministry of Micro, Small, and Medium Enterprises and is ISO 9001:2015 certified. The prime objective of this enterprise is to provide various support to the micro and small industries to grow such as Financial aid, Marketing Technology, and others.
Assistance offered by NSIC to small and medium
NSIC offered a bunch of schemes for micro and small enterprises to enable them to stand high in the competitive market. These schemes not only help these enterprises to grow in the domestic market but also in the international market.
Marketing is the most appropriate tool for business development but micro and small enterprises lack marketing strategy and hence growth falls. Intending to enhance their business, NSIC facilitates them in many ways to boost the business development such as procurement, execution of orders, and many more.
Participation in Government purchase
NSIC prepares a list of micro and small enterprises through single-point registration and the same helps the enterprises to take part in the government purchase. As per Public Procurement Policy for Micro and Small Enterprises dated 2012, the enterprises that are registered are eligible for government benefits. The NSIC Registration process is simple and within a few clicks, the job will be done.
The government benefits include; exemption from payment of EMD (Earnest Money Deposit), Consortia facility for tender marketing, and many more.
B2B web portal for MSMEs
Since we stepped into the LPG (Liberalization, Privatization, and Globalization) Era, the demand for information has significantly increased. NSIC observed the need for these features for MSMEs and thus launched the B2B web portal. This portal will help the enterprises to expand globally and compete in the international market.
NSIC offers various financial assistance schemes for MSMEs for their growth such as procurement of raw materials, marketing activities, and many more. The MSMEs who are not capable of purchasing the raw materials can take the financial support offered by NSIC and the validity is of 180 days.
This is the digital era where technology plays a crucial role to promote business. But MSMEs are lagging behind the technology part and they need to follow the technology strategy to boost the business. Hence, NSIC supports the MSMEs through Technical Services Centre and Extension Centres.
To avail of these benefits, the micro or small enterprises must have to go for NSIC Registration.
If you require any guidance concerning NSIC Registration, please feel free to contact our business advisors at 8881-069-069.
Download E-Startup Mobile App and never miss the most fresh updates relating to your business.