NSIC national small industries corporation is one of the ISO certified enterprises of Government of India established in 1995 with the ideal aim to promote MSME micro small medium enterprises units wherein NSIC has its own setup of training & incubation that is totally managed by well-qualified professionals.
The main objective of national small industries corporation is to upgrade, support & enhance the development of MSME micro small medium enterprises in all feasible ways whether it’s project planning, budget setup, product purchasing to implementation & all aspects stages of business scale-up are included by NSIC loan scheme. Along with assistance includes marketing, financial, technical as well as support services. Continue reading to know more details about the scheme.
What is NSIC Registration national small industries corporation?
The government of India initiated NSIC Registration national small industries corporation in 1995. It aims to upgrade, support & enhance the entire development system of MSME micro small medium enterprises apart from these, NSIC has its own setup of training and incubation centres of highly qualified professionals.
Key Features -
- It allows small & medium enterprises to get machine on rent & purchase from both domestic as well as foreign countries.
- Ideal setup of training cum incubation centres by well qualified professionals.
- Various exhibitions & advertisements held by the Government of India to promote business scale.
- NSIC national small industries corporation also provides financial assistance to MSME.
- Energy & environmental service provided in selected centres.
NSIC Eligibility Criteria
It has certain criteria that need to met prior to application: -
- Applicant must be a resident of India
- Business running successfully in the last 3 years are eligible
- Business minimal turnover should be above 50 Cr & below 250 Cr
- Must have good CIBIL score
- Any previous/existing credit record if applicable
Documents Required for NSIC
1.Identity Proof (Any one of the following)
- Aadhar Card
- Passport
- Voter ID Card
- PAN Card
- Driving License
2.Residence Proof (Any one of the following)
- Electricity Bills
- Water Bills
- Ration Card
- Lease/Rent/Property own agreement
How to apply for NSIC Registration Online?
Get a full step by step process to get a hassle-free as given below: -
Step 1: -Visit NSIC official website & click on single point registration.
Step 2: - Click on fresh online button if you are a new applicant either click renewal online if your validation get expired.
Step 3: - After the click you will be redirected to next page, now scroll down the page & click on apply now button.
Step 4: - A new registration form page has been opened, whereas you will be asked to fill the required field with correct value.
Step 5: - Once filled carefully check the details & attach supporting documents to submit the application. Shortly concerned department will review your application and let you know the status via registered mail address.
Registration in NSIC FAQ
What are the types of NSIC Loan?
There are 2 types of loan as under given: -
Term Loan: - Term loan refers to the tenure period required to repay borrowed amount. Significantly, loan required for less than a year known as short-term loan while loan required for more than 2 years known to be long-term loan.
MSME Loan: - MSME loans are availed for business expansion, meeting day-to-day operational working capital & purchasing machinery & equipment.
What is the interest rate for NSIC?
NSIC Scheme interest rate starts from 10.50% to 12.00 per annum
How to do NSIC registration offline mode?
To do offline registration visit your nearest national small industries corporation office & request an application form, fill the form in prescribed format with correct value & attach the relevant documents with application form to submit them.
How is MSME different from NSIC?
MSME micro small medium enterprises ideally promote & develop their own MSME sector while NSIC national small industries corporation is an ISO certified enterprise of Government of India fall under ministry of micro small medium enterprises (MoMSME) which aims to support & enhance units.
How much fee is charged for NSIC registration?
Generally, registration fee is charged depending on the size of business turnover as listed below: -
- Below 1 Crore business turnover a fee of 5 thousand + taxes has to be paid.
- Above 1 Crore business turnover a fee of 5 thousand + taxes for each 1 Cr has to be paid.
- To renew certification 50% of registration fee is applicable.
Is there any subsidy available for SC/ST categories?
Yes, under the NSIC scheme Government of India has allocated 20% of subsidy for (SC) Scheduled Tribe & (ST)Scheduled Tribe categories on registration.
What is the purpose of NSIC Scheme?
Under NSIC scheme single point registration – MSME can register to participate in various purchases offered by government.
What are the scheme offered under NSIC registration?
Below are the schemes offered: -
- Single point registration
- Procurement & marketing assistance scheme
- Bill discounting scheme
- Bank credit facilitation
- Infomediary services
- Machine & equipment selling
- Performance credit rating scheme
- Raw material assistance scheme
- National SC ST Hub
- Consortia & tender marketing
Is it necessary to avail NSIC certificate?
No, it's not necessary to avail this certificate but if you want to get additional benefits for your business expansion then it must to have both MSME & NSIC registration.
How long is NSIC certificate valid?
National small industries corporation NSIC Certificate is valid for 2 years which means after each 2 years of registration-it has to be renewed periodically.
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