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National Small Industries Corporation Ltd (NSIC)

Overview

The National Small Industries Corporation Ltd. (NSIC) was founded in 1955 by the Indian government to help small-scale industries. It is a government-owned company that falls under the Ministry of Micro, Small, and Medium Enterprises (MSME). The aim of forming this corporation is to achieve the task of encouraging, supporting, and developing the country's small-scale industries. It is also recognized as Mini Ratna Public Sector Undertaking (PSU).

The NSIC has a broad network of department offices and technical centers over the country. The organization provides a variety of services that involve financial support, core training, and development. It also provides financing, infrastructure, communications, and assistance to all medium-sized businesses. The company also rents out equipment and helps with export marketing.

NSIC has proven its strength not only within the country but also in the international market by promoting innovation, technology up-gradation, growing the quality value, creating a connection between large and medium enterprises, and expanding the scheme of export products from small-scale enterprises,


Who Requires NSIC Registration?

To apply for NSIC registration, the applicant must meet the following criteria:

  • Micro and small businesses with a valid Udyog Aadhar Memorandum or EM Part-II (Entrepreneurs Memorandum) may apply for an NSIC registration certificate.
  • All MSMEs who have started their company and have had commercial production experience but have not completed one year are eligible to apply. These MSMEs will be liable for a one-year provisional NSIC certificate with a monetary cap of Rs. 5 lacs.

Functions of NSIC

  • NSIC runs several programs for SMEs to help them compete and develop.
  • NSIC provides MSMEs with integrated marketing, technology, and financial support.
  • MSMEs in India benefit from NSIC's training and skill development programs.

Schemes of NSIC

The following are the NSIC schemes to provide benefits to MSME's

  • Single Point Registration
  • Bank Credit Facilitation
  • Raw Material Assistance
  • Consortia & Tender Marketing Scheme
  • Marketing Intelligence
  • Exhibitions and Technology Fairs
  • Infomediary Services/B2B
  • Performance and Credit Rating Scheme

Advantages of NSIC Registration

The organisations enrolled under NSIC's Single Point Registration Scheme receive a variety of benefits, including the following:

  • Free of cost Tender allotment

    All qualified MSMEs registered with NSIC are eligible to receive a free tender.

  • Exemption from EMD

    The bidder must pay the EMD amount for Tender, but NSIC-registered organizations are excluded from paying the EMD amount.

  • Tender Participation Benefits

    If the bidding price of micro and small enterprises falls below the range of L1 + 15, they are allowed to supply up to 25% of the requirement by lowering their quotation to L1.

  • Procurement from MSEs

    Every department, public-sector undertaking, and central ministry must set an annual target of at least 25% of total annual MSE purchases. 3 percent of the annual MSE purchase is set aside for women-owned businesses, and 4% is set aside for Schedule Caste/Scheduled Tribes-owned businesses.

  • SSI Sector Development

    NSIC has set aside 358 products for purchase exclusively from the SSI sector to assist them in growing their market.


Documents Required for NSIC Registration

Entities wishing to register with the NSIC under the Single Point Registration Scheme must submit the following documents:

  • MSME/SSI Registration Acknowledgement Copy
  • Udyog Adhaar Memorandum, Copy of PAN (self-attested)
  • Ownership proof of Plant & Machinery & Tools and Raw Material pointing date of purchase & Original Purchase value of each machinery
  • Performance Statement of the application.
  • Ownership records of the premises or copy of lease deed (self-attested)
  • Director/Partners/Owner Details.
  • List of technical personnel employed.
  • Note on Quality control measurement utilized by the firm.
  • List of Quality control devices and testing facility.
  • Copy of recent Electricity Bill
  • Last 3 years duly signed Audited Balance Sheet and Profit & Loss Account.
  • Statement showing the Results of Operation for the last 3 years duly signed by an authorized person.
  • The Banker's report provides information on the applicant firm's financial situation.

Additional Documents Required from the following:

  • Partnership Firm:
    • Partners Details
    • Partnership Deed.
    • Duly notarized General Power of Attorney in favor of one of the Partners.
  • Limited Liability Partnership:
    • Proof of registered offices of the LLP.
    • Copy of Company incorporation
    • LLP Agreement
    • Annual Return
    • Names of partners and changes.
    • Statement of Account and Solvency
    • General Power of Attorney in favor of one of the designated partners.
  • Co-operative Society:
    • Certificate of Registration of Societies.
    • Society’s Bye-Laws/Regulations
    • Members' details, including their shareholding.
    • Certificate from Registrar of Societies proving the current status of the society.
    • Share capital information.
    • Details of property maintained by the Society including movable and immovable.
    • Copy of the Resolution of Society for soliciting registration under Government Purchase Program.
    • Copy of the Resolution in favor of Signatory of the application & documents.
  • Companies:
    • Certificate of Incorporation.
    • Memorandum and Articles of Association
    • Details of Directors including their shareholding.
    • Copy of Board Resolution in favor of the Signatory of the application and documents

Registration Process

The applicant has the option of registering either online or offline, as offered by the NSIC.

Online Registration Process:

  • 01.
    Step 1:

    Go to the NSIC homepage.

  • 02.
    Step 2:

    Enter your PAN card, Aadhar card, GST number, or UAM number.

  • 03.
    Step 3:

    Fill in the firm's name, application date, and any other relevant information.

  • 04.
    Step 4:

    After completing the online application, the applicant will receive an email at their registered email address with the contact information for the NSIC branch they chose.

  • 05.
    Step 5:

    For additional formalities and documentation, contact the nearest NSIC branch.

  • 06.
    Step 6:

    The investing agency will then conduct a thorough review of the applicant's records and, if satisfied, will issue the SPRS Registration Certificate.

Offline Registration Process:

Entities may apply the application form, along with the required fee and supporting documentation, to the NSIC's nearest Zonal/Branch, Sub Office/Extension office.


Validity of NSIC Registration Certificate:

The Registration Certificate issued to Micro and Small Enterprises under the Single Point Registration Scheme (Revised), 2003 is only valid for 2(two) years and can only be renewed after proper verification by NSIC every two years.


How Can We Help in Getting Registration?

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Frequently Asked Questions ?

National Small Industries Corporation Limited (NSIC) is a Mini Ratna (Public Sector Undertaking) founded by the Government of India in 1955 for the development of MSME.

The following individuals are eligible to register:

  • Micro and small businesses with a valid Udyog Aadhar Memorandum or EM Part-II (Entrepreneurs Memorandum) may apply for an NSIC registration certificate.
  • All MSMEs who have begun their business and have had commercial production experience but have not yet completed a one-year time frame are eligible to apply. These MSMEs will be liable for a one-year provisional NSIC certificate with a monetary cap of Rs. 5 Lacs.

The provisional registration under the SPRS scheme has a monetary cap of Rs. 5 lakh.

The NSIC certificate has a two-year validity period.

The following are the significant differences between NSIC and MSME: Check on site.

Yes, it's possible to renew it after two years. The organizations must apply for the certificate, which will be granted after a thorough examination of their records.

Entities have the option to apply online or offline.

If the entities choose the online option: they must first fill out an application form on the NSIC website, after which they will receive contact information for the NSIC branch they chose via email. Then they must go to the branch office and apply the necessary documentation and fees.

If an entity chooses the Offline option: they must go to the nearest NSIC branch in their region and send the required documents and fees for registration.

Note: In both cases, the organizations can receive their registration certificates only after their documents have been properly checked.