NSIC stands for National Small Industries Corporation, which is a government agency in India aimed at promoting and supporting the growth of small-scale industries. It provides various services such as facilitating marketing assistance, procurement assistance, technology support, and financial aid to small and medium enterprises (SMEs) to enhance their competitiveness and sustainability in the market.
Business loans can significantly benefit Small and Medium Enterprises (SMEs) under NSIC by providing them with much-needed financial assistance to fuel their growth and expansion initiatives. NSIC facilitates access to business loans through tie-ups with banks and financial institutions, ensuring SMEs can secure funds tailored to their requirements. These loans can be utilized for various purposes, including working capital requirements, purchasing machinery and equipment, expanding production capacities, and investing in technology upgrades. Moreover, NSIC offers guidance and support to SMEs throughout the loan application process, helping them navigate complex financial procedures and secure favorable loan terms. By availing business loans under NSIC, SMEs can overcome financial constraints, seize growth opportunities, and achieve long-term sustainability in the competitive market landscape.
At Bajaj Finance, we understand the importance of supporting small businesses, which is why we offer customised financial solutions such as the Bajaj Finserv Business Loan to help entrepreneurs fulfil their aspirations. Business loan EMI calculator provided by NSIC can be a valuable tool for SMEs, helping them accurately estimate their monthly loan repayments based on loan amount, interest rate, and tenure. This enables SMEs to plan their finances effectively and ensure timely repayment of the loan, thereby maintaining healthy cash flow and financial stability. By utilizing the business loan EMI calculator, SMEs can make informed decisions regarding loan affordability and choose loan options that best suit their budget and repayment capacity.
With flexible repayment options and competitive interest rates, our business loan can provide the necessary financial assistance for NSIC registration and growth. Explore our business loan options and take your small business to new heights.
What is the National Small Industries Corporation?
The National Small Industries Corporation (NSIC) is a government organisation established to promote, aid, and fostering the growth of small-scale industries in India. It provides a range of services and support to small businesses, including financial assistance, marketing assistance, technology support, and more.
Mission and Vision of NSIC
- Mission: To promote and support the growth of small-scale industries by providing a conducive environment and comprehensive support services.
- Vision: To emerge as a premier facilitator for the development and competitiveness of small businesses in India.
Features & benefits of NSIC
- Access to financial assistance for business expansion and modernisation.
- Marketing support to enhance market reach and visibility.
- Technology support to improve productivity and efficiency.
- Facilitation of government schemes and incentives for small businesses.
Required documents for NSIC registration
- Aadhar card
- PAN card
- Business Incorporation Certificate
- Bank account details
- Project report
Registration process & charges
- Submit the required documents along with the registration form.
- Pay the registration fee as per the prescribed charges.
- Await approval and issuance of the NSIC registration certificate.
Schemes of NSIC
NSIC offers various schemes to support small businesses, including:
- Single Point Registration Scheme
- Performance and Credit Rating Scheme
- Raw Material Assistance Scheme
- Marketing Assistance Scheme
Explore the table below for a detailed overview of NSIC schemes
| Scheme Name | Description |
| Single Point Registration Scheme | Facilitates registration of small businesses with various government agencies. |
| Performance and Credit Rating Scheme | Provides credit rating services to enhance credibility and access to finance. |
| Raw Material Assistance Scheme | Offers assistance in procuring raw materials at concessional rates. |
| Marketing Assistance Scheme | Provides support for marketing activities to enhance market reach and sales. |
Marketing support
NSIC offers extensive marketing support to small businesses, including:
- Consortium arrangements for bulk purchases.
- Participation in trade fairs and exhibitions.
- Export marketing assistance.
Consortia and tender marketing
The objective of this scheme is to promote products made by micro and small entrepreneurs. It helps entrepreneurs market their products, either individually or collectively, through a 'Consortium.'
Key features of the scheme include:
- Micro and Small Enterprises registered under the Single Point Registration Scheme (SPRS) are eligible to participate in the Consortia and Tender Market Scheme.
- The scheme facilitates the selection of units to participate in open and single tenders on a nomination basis.
- It also addresses security deposit requirements and provides Earnest Money Deposit (EMD) on a back-to-back basis.
- The scheme supports the formation of consortia, capacity building of MSEs by grouping similar product manufacturers, and participation in tenders through consortia to secure bulk orders.
- Legal documents, such as individual agreements by units, consortia agreements, board resolutions, and power of attorney, have been revised to align with the scheme’s provisions.
- The Government of India, through the Ministry of MSME, issued a Gazette Notification (No. S.O. 581(E) dated 23rd March 2012) for the Public Procurement Order 2012, aimed at facilitating and promoting the development of Micro and Small Enterprises.
- Enterprises formed under this scheme will supply necessary items and provide services to government departments, PSUs, and other entities as required.
Infomediary services
NSIC provides information dissemination services to small businesses, including market trends, government policies, and industry updates, to enable informed decision-making.
Marketing intelligence
The Marketing Intelligence Cell focuses on gathering intelligence and relevant data to understand current and potential customers, as well as their needs, preferences, and market behaviors. The goal is to leverage this information to drive the growth of MSMEs in India.
Key features of Marketing Intelligence include:
- A database of bulk buyers for each product, including those in government and public sectors.
- Information on tenders issued by government and public sectors.
- A database of rate contracts with various government and public sector undertakings.
- A database of Indian exporters.
- A database of international buyers.
- A database of technology suppliers and projects for MSMEs.
- Business partner matchmaking services.
- A list of Micro & Small Enterprises registered with NSIC for government purchases, raw material assistance, performance and credit rating schemes, and MSME industrial associations.
Technology incubation - PPP mode
NSIC collaborates with private partners to establish technology incubation centres, providing infrastructure and support services to promote innovation and entrepreneurship.
Government schemes implemented by NSIC
NSIC implements various government schemes and programmes aimed at supporting small businesses, including:
- Make in India
- Startup India
- Stand Up India
- Marketing Assistance Scheme
- Aspire
Make in India Scheme
- The Make in India scheme is an initiative aimed at boosting domestic manufacturing and attracting foreign investment. It seeks to transform India into a global manufacturing hub by promoting innovation, enhancing infrastructure, and easing business regulations. This initiative focuses on improving the ease of doing business and supporting sectors like automobiles, textiles, and electronics. By encouraging companies to manufacture products within India, the scheme aims to create jobs, foster skill development, and drive economic growth.
Startup India
- Startup India is a flagship initiative designed to nurture and support startups across the country. Launched by the Government of India, it aims to create a conducive environment for innovation by offering various benefits such as tax exemptions, funding opportunities, and simplified regulatory processes. The program provides a platform for entrepreneurs to access mentorship, networking, and resources essential for scaling their businesses. Additionally, it focuses on fostering a culture of entrepreneurship and facilitating easier access to capital and markets. For more information on how Startup India can help your venture thrive, visit Startup India.
Stand Up India
- Stand Up India is an initiative aimed at promoting entrepreneurship among women and marginalized communities. Launched by the Government of India, it provides financial assistance and support to set up greenfield enterprises in the manufacturing, services, or trading sectors. The scheme offers bank loans between Rs. 10 lakh and Rs. 1 crore to Scheduled Castes (SCs), Scheduled Tribes (STs), and women entrepreneurs, facilitating easier access to capital. Stand Up India also includes mentorship and training to help businesses grow and succeed.
Marketing Assistance Scheme
The MSME sector in India has experienced significant growth in recent years, emerging as a dynamic force within the Indian economy. Various MSME schemes have facilitated business establishment and created employment opportunities with minimal capital investment.
Marketing plays a crucial role in promoting and expanding any business. To support enterprise growth, the Ministry of Micro, Small & Medium Enterprises, through the National Small Industries Corporation (NSIC)—a public sector enterprise—provides marketing support to MSMEs under the Marketing Assistance Scheme.
Key objectives of this scheme include:
- Enhancing the marketing capabilities and competitiveness of MSMEs.
- Showcasing the strengths and competencies of MSMEs.
- Educating MSMEs about current market trends and their business impact.
- Forming consortia to help MSMEs market their products and services.
- Offering platforms for MSMEs to engage with large buyers.
- Promoting various government programs.
- Improving the marketing skills of micro and small enterprise entrepreneurs.
Aspire
NSIC's Aspire scheme aims to promote entrepreneurship among youth by providing training, mentoring, and financial support for starting and growing small businesses. Aspiring entrepreneurs can now plan their finances effectively, ensuring seamless financial management as they embark on their entrepreneurial journey through the Aspire scheme.
Conclusion
In conclusion, the National Small Industries Corporation (NSIC) plays a crucial role in supporting the growth and development of small-scale industries in India. With a range of services and schemes tailored to the needs of small businesses, NSIC empowers entrepreneurs to overcome challenges and achieve success. At Bajaj Finance, we're committed to supporting small businesses with our business loan, providing the necessary financial assistance to realise their aspirations.
