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.
The entities eligible to obtain NSIC Registration are listed below:
One of the key benefits of NSIC registration is that it enables the allotment of tenders totally free of cost to eligible MSMEs.
MSMEs with NSIC registration need not pay Earnest Money Deposit (EMD). This is taken from the bidder, to assure his sincerity in a deal.
Notably, NSIC has reserved 358 items for purchase particularly only from (Small Scale Industries) SSIs as to uplift this sector.
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.
Out of the total annual requirement of 20% supplies from MSMEs, 4% is reserved for the units owned by SC/STs.
NSIC executes various interconnected aid services concerning Marketing, Technology, Finance and other kinds of support to MSMEs.