What is NSIC Full form?
The full form of NSIC is National Small Industries Corporation.
What is all about NSIC Registration?
National Small Industries Corporation was established by the Government of India in 1955. Today, NSIC is a reputed Mini Ratna PSU that also possesses ISO 9001:2015 certification.
In order to promote small & growing entrepreneurs in post-independent India, the Government of India has set up NSIC, which acts as an intermediary to provide assistance to small scale industries (SSI). The MSEs having NSIC Registration can get access to numerous developmental schemes of the government and achieve tremendous growth in their business.
Some functions of NSIC are mentioned below:
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NSIC runs various developmental schemes for MSMEs as to enhance their competitiveness.
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NSIC provides integrated support services to MSMEs in relation to Marketing, Technology, Finance.
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NSIC provides training and skill development to the MSMEs in India.
Who are eligible for NSIC Registration?
Every business enterprises fulfilling below condition are eligible for NSIC registration under Single Point Registration Scheme (SPRS).
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All Micro Enterprises whose investment in plant & machinery is up to INR 25 lakhs (In-service sector up to INR 10 Lakhs)
or
All Small Enterprises whose investment is plant & machinery is up to INR 5 Crore (In-service sector up to INR 2 crores)
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Holding MSME Certificate.
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Completed one year of business commencement.
Exemption(s): The Provisional Registration Certificate shall be issued to the Micro & Small Enterprises under the Single Point Registration scheme, which has not completed one year of business commencement. However, this will subject to a monetary limit of INR 5 Lacs.
Validity of NSIC Registration
NSIC registration under Single Point Registration Scheme shall be valid for 2 Years. This shall be renewed every 2 years after verification of Commercial and Technical Competence (CTC) of the registered MSEs.
Note: Provisional NSIC Registration shall be valid for 1 year from the date of the issue of NSIC application, i.e. after levying the NSIC registration fee and obtaining the required documents.
PACKAGES
Basic
14999
Inclusive all taxes
NSIC registration [Government fee extra]
Standard
15999
Inclusive all taxes
NSIC registration [Government fee extra]
Premium
19299
Inclusive all taxes
NSIC registration [Government fee extra]
MSME registration
Import Export Code Certificate
EXIM eGuide
WHY GET AN NSIC REGISTRATION?
There is no doubt that getting an NSIC registration along with MSME registration for your firm can help you avail additional benefits business of growth.
- NSIC undertakes a set of, particularly customized schemes to optimize the proficiency of MSMEs in India.
- NSIC aims implements various combined support services as regards Marketing, Technology, Finance and other sorts of assistance to MSMEs.
Schemes for MSMEs having NSIC Registration:
Single Point Registration Scheme
In order to increase government purchases from the small-scale units, the government has launched the Single Point Registration scheme (SPRS). MSMEs can get NSIC registration under this scheme and get exempt from Earnest Money Deposit (EMD) in Government Purchases. EMD is taken from the bidder to assure his sincerity in a bid.
Benefits:
- Exemption from payment of Earnest Money Deposit (EMD);
- Issue of the Sets of Tender absolutely free
- Under this scheme, 358 items are reserved for purchase from Small scale units only.
- In this scheme, the Government has set an annual target for Union Ministries, Departments, and PSUs to buy a minimum of 25% of the total annual supplies of Goods & services from MSEs only.
- Out of this 25% procurement from MSEs, 4% of supply is reserved for the units owned by SC/STs. Besides, 3% is reserved for women entrepreneurs.
- In tender participation, the MSES bidding in the lowest level price band of L1+15% can also supply a portion up to 25% of the total requirement, by reducing the price to L1 Price. Here, L1 purchasers shall be the medium or large units.
MSME Global Mart
NSIC has initiated the B2B portal called MSME Global Mart. This is a one-stop for assistance to MSMEs on the business, technology, and finance. The aim of MSME Global Mart is to boost the core competence of Indian MSMEs. The services of this portal are available through Annual Membership.
Membership Benefits:-
- Interactive Database of MSMEs
- Global & National Tender Notices
- Self web development tool
- Free mail boxes
- Payment Gateway for membership subscription
- Popular Products Section
- Unlimited global Trade Leads
- Trust Seal of NSIC
- Multiple Language Support
- Multiple Language Support
- Centralized mail system
RMA against Bank Guarantee Scheme
Raw Material Assistance (RMA) Scheme provides financial support to MSMEs for the purchase of Raw Material (both indigenous & imported). This gives an opportunity to MSMEs to focus better on manufacturing quality products.
Benefits of this Scheme
- Financial Assistance for procurement of Raw Material up to 180 days.
- MSMEs helped to avail the Economics of Purchases like bulk purchase, cash discount, etc.
Note: Security in the form of Bank Guarantee from Approved Banks.
Skill Development & Services
NSIC provides technical support and skill development training to MSMEs at the 'NSIC Technical Services Centres' (NTSC). Besides, it has a number of Training Incubation Centres (TICs) and Livelihood Business Incubation Centres (LBIs) spread across India.
The technical services provided at these centers include:
- Skill-development in Hi-Tech and conventional trades,
- Material and product testing at NABL & BIS accredited laboratories,
- Energy audit,
- Environmental management.
Our Process
Documents Required
Proof of business existence
Business details
Highlights
Free allotment of tenders
One of the key benefits of NSIC registration is that it enables the allotment of tenders totally free of cost to eligible MSMEs.
No EMD deposit
MSMEs with NSIC registration need not pay Earnest Money Deposit (EMD). This is taken from the bidder, to assure his sincerity in a deal.
Development of SSIs
Notably, NSIC has reserved 358 items for purchase particularly only from (Small Scale Industries) SSIs as to uplift this sector.
Assistance in Government tenders
All MSMEs bidding for tender within the price cap of L1+15% are allowed to supply up to 20% of the demand by reducing the price to L1.
The reserved quota
Out of the total annual requirement of 20% supplies from MSMEs, 4% is reserved for the units owned by SC/STs.
Overall progress of MSMEs
NSIC executes various interconnected aid services concerning Marketing, Technology, Finance and other kinds of support to MSMEs
frequently asked questions
View Questions
- Q. How much Monetary Limit fixed in Provisional Registration under SPRS
- INR 5 lakh
- Q. Whether manufacturers of drugs & medicines can also get NSIC registration?
- As such NSIC does not register any units engaged in the manufacturing of drugs & medicines.
- Q. Whether traders can be registered under SPRS?
- NSIC does not register the traders in SPRS.
- Q. Do you provide this service in my town?
- Yes Finten India is an online platform serving all over India no matters wherever you are doing business all you need is internet connection on your mobile or desktop and we are ready to get your job done
- Q. Do I need to physically present for the process?
- No, You don’t need to be physically present for the process, Finten India is an online catering platform all you need is an internet connection in your phone/computer and the required documents with you and we can get the job done no matters even if you are present at the remotest location of India.
- Q. What is NSIC?
- NSIC stands for National Small Industries Corporation. NSIC is a reputed Mini Ratna PSU established by the Government of India in 1955. Its motive is the promotion and development of MSMEs in India.
- Q. Why should I Get An NSIC Registration?
- NSIC registration along with an MSME registration can help you avail supplementary benefits business growth for your firm.
1. NSIC runs several customized schemes to enhance the proficiency of MSMEs in India. 2. NSIC aims to provide various interlinked support services with respect to Marketing, Technology, Finance and other sorts of assistance to MSMEs. - Q. How does NSIC registration help in Development of small businesses?
- The NSIC has reserved 358 items for supply particularly only for the SSIs (Small Scale Industries) as to uplift this sector.
- Q. Who is eligible to get NSIC registration under Single Point Registration Scheme?
- All Micro & Small Enterprises are eligible to get NSIC registration under SPRS.
- Q. What are the criteria to get Provisional Registration in SPRS?
- NSIC issues Provisional Enlistment Certificate to those MSEs under SPRS who have started the production but not having the audited Balance sheet for the last one year.
- Q. What the validity of SPRS Registration Certificate?
- SPRS Registration Certificate is valid for 2 Years from the date of issuance.