Overview of NSIC Registration
For the sake of aiding and fostering the MSME sector post-Independence, the Government of India had formed NSIC. The term NSIC stands for National Small Industries Corporation. It registers the Micro, Small and Medium Enterprises (MSMEs) under the SPRS (Single Point Registration Scheme) for the involvement in Government purchases. The MSMEs having the NSIC Registration can easily obtain access to numerous developmental schemes introduced by the government and can also attain tremendous growth and escalation in their business.
For facilitating the growth and competitiveness of the MSME sector various schemes have been launched by the NSIC. These schemes include Performance and Credit Rating Scheme, Single Point Registration Scheme, and the Tender Marketing Scheme, etc. Hence, MSMEs are always suggested to obtain NSIC Registration to avail of schemes and benefits offered by NSIC.
What is NSIC?
The NSIC (National Small Industries Corporation) was started in the year 1955 by our Indian Government. It is a Mini Ratna PSU (Public Sector Unit) and has the objective to raise and elevate the MSME sector in India. It falls under the ambit of the Ministry of Information Technology, Government of India.
NSIC also acts as an intermediary for MSMEs (Micro Small and Medium Enterprises) as it bridges their need with various development schemes. Moreover, it has also set up various Training cum Incubation Centres which are managed and controlled by professional manpower.
Benefits of NSIC Registration
The benefits of NSIC Registration are mentioned below:
- The MSMEs having NSIC registration are eligible to participate in various international fairs organized by NSIC.
- The MSMEs can even participate in various Tech mart exhibitions organized by NSIC. It will help them in getting familiar with the advanced and upgraded technologies.
- Individuals running a small or micro business also get a chance to participate in the Buyer-Seller meet with the Government or other same level associations.
- NSIC registered MSMEs augments their skills by taking part in various skill development trainings.
- The Government assists all the NSIC registered SSIs in computer-aided product designing.
- The MSMEs registered with NSIC have a chance to broaden their range of products and export all across the International Markets.
- MSMEs having NSIC Registration are exempted from the instalment of EMD (Earnest Money Deposit).
Who is Eligible to obtain NSIC Registration?
The entities eligible to obtain NSIC Registration are listed below:
- Any Micro and Small level enterprise with valid a Udyog Aadhar.
- The MSMEs who have although started their production, but are not having the Audited Balance Sheet for the past one year can apply for a provisional NSIC registration with a validity of one year.
What are the Schemes of NSIC?
NSIC (National Small Industries Corporation) facilitates MSMEs with a set of especially tailored schemes to enhance their level of competitiveness. It also provides Integrated Support Services in the field of Technology, Marketing, Finance, etc. Some of the schemes unleashed by the National Small Industries Corporations are as follows:
- Single Point Registration Scheme
For increasing the level of government purchases from SSIs, the SPRS or the Single Point Registration scheme was initiated. The MSMEs who are registered under this scheme are exempted from the EMD (Earnest Money Deposit) in Government Purchases.
- Performance and Credit Rating Scheme
This respective scheme aims at establishing trusted and independent third-party opinions on the competences and credit-worthiness of MSEs (Micro and Small Enterprises). Further, this scheme makes the availability of the credit at low-interest rates and also makes sure better productivity. Moreover, under this scheme, a percentage of the fee charged by the Credit Rating Agency is reimbursed by the Ministry of SSI according to MSEs Turnover.
- Bill Discounting Scheme
All the bills being generated out of the genuine trade transactions, i.e., supplies made by MSMEs to renowned Public limited or Private Limited Companies/State or Central Government Departments and undertaking involved in manufacturing or service activities. However, the traders are not covered under the ambit of this scheme.
- Raw Material Assistance Scheme
This scheme aims at supporting the MSME sector by financing their raw material purchase for both indigenous and imported products. This scheme also provides an opportunity for MSMEs to emphasis on manufacturing quality products.
- MSME Global Mart
MSME Global Mart is a Business to Business (B2B) portal. This was initiated by the NSIC for offering technology, financial assistance, and business to MSMEs at affordable rates. Further, the services offered by the MSME Global Mart can be benefited only by Annual Membership.
- Skill and Development Scheme
Various skill development trainings and technical support are provided to the MSMEs registered under NSIC. These trainings are provided at the NTSC (NSIC Technical Services Centres). Apart from this, it also has several Livelihood Incubation Centres (LBIs) and Training Incubation Centres (TICs),spread across the country.
Documents Required for NSIC Registration
The following listed are the set of documents required for obtaining NSIC Registration:
- UAM (Udyog Aadhaar Memorandum) Number.
- Complete details regarding the plant and machinery installed in the premises. The term, “details” include DOP (Date of Purchase), Value of the Asset, Rate of Depreciation charged, etc.
- A copy of the Certificate of Incorporation, in the case of a company.
- A copy of the Form A issued by the ROF (Registrar of Firms), in the case of a partnership firm.
- A copy of the LLP agreement, in the case of a Limited Liability Partnership.
- A copy of the Memorandum of Association (MOA) and Article of Association (AOA).
- Self-attested documents supporting the proof of ownership.
- Declaration from all the directors regarding the non-connection with any large-scale unit.
- A copy of the Bank's Report describing the financial health of the applicant.
- A complete list having details of finished goods, raw materials, or in-process goods.
- PAN Card details of the company.
- Audited financial statement of the preceding year.
- BIS License, if in case applicable.
- ISO 9000 (Optional requirement).
- All the details regarding the installation of the quality control equipment in the factory.
- Details concerning the manpower employed in the premises. The term manpower also includes technicians.
- Copy of the latest electricity, water tax bill of the place being used for the business.
Procedure for NSIC Registration
Any entity having MSME registration is entitled to obtain NSIC registration. Both online and offline procedure are available for obtaining registration.
Online Procedure for NSIC Registration
- Login to the NSIC official portal.
- Now, select the option saying “Online Registration for GP” provided on the right side.
- The applicant is now required to fill-up all the information asked in the NSIC Registration form.
- After that press the “save” option, and then proceed.
- Pay the fees prescribed for obtaining NSIC Registration.
- Upload the scanned copy of all the documents and endorsements.
- Lastly, press the “submit” option for successfully submitting the application form for NSIC Registration
Offline Procedure for NSIC Registration
- The applicant is required to download and print a copy of the NSIC Registration Application Form.
- Fill in all the necessary details.
- After that, the SMEs (Small and Medium Scale Enterprises) are required to submit the NSIC Application form together with prescribed charges and reports either to Branch or Zonal or Extension office of National Small Industries Corporation.
- Now, send the concerned application form to the Inspecting office along with the duplicates of all the needed documents, and the imperative Proofs or Pay Order of investigation charges. These are essential for the pertinent inspection agency to conduct their technical Inspection on the MSEs (Micro and Small Enterprise).
- Lastly, the NSIC will grant the Certificate for GP Registration to the concerned MSME. However, the same is only possible after obtaining a positive report from the Inspection Agency.
What is the Validity Period of NSIC Registration?
The Certificate of NSIC registration is valid for a period of two years. Hence, the certificate of NSIC registration will be reviewed and rechecked after the expiry of every two years. The same is done to verify and check the Commercial and Technical Competence of the registered MSEs. In contrast, the Provisional NSIC Registration Certificate is valid for one year.
What are the Functions of NSIC?
Over six decades, it has successfully proven its mettle and dynamism by continuously upgrading technology and know-how in the destitute sections of the MSME Industry. At present, National Small Industries Corporation holds 2 Software Technology Parks, 26 Branch Offices; 15 Sub-Offices; 6 Zonal Offices; 3 Extension Centres; 5 Technical Service Centres across India. This entity also has a backend team of around 5000 professionals
The listed below are some of the key functions of NSIC:
- NSIC provides various skill development trainings concerning finance, marketing, etc.
- It provides imported and indigenous equipments or machinery to the Small-scale industries on an easy and cheap financial term due to its Hire Purchase Scheme.
- NSIC (National Small Industries Corporation) provides raw material to several micro and small-scale enterprises.
- It also has the facility of leasing equipments to Indian small-scale industries.
- It participates in the bulk purchase program to assist in providing raw materials.
- NSIC also emphasizes on the facet of modernization of SSIs by developing and advancing the technology.
- NSIC also deals with the construction of industrial estates.
NSIC Registration FAQs
NSIC or National Small Industries Corporation is an organisation that registers Micro, Small, and Medium Enterprises (MSMEs) involved in Government Purchases under the SPRS (Single Point Registration Scheme). The MSMEs that have NSIC Registration can easily obtain access to numerous developmental schemes introduced by the government and tremendous growth and escalation in their business.
The term “NSIC” stands for National Small Industries Corporation.
An MSME can either directly approach the bank, which is under the tie-up arrangement with NSIC, to submit its request for the loan requirement or visit the official NSIC Portal.
The main functions of NSIC include access to various progressive schemes, integrated support services, and training and skill development to the MSME sector to improve their competitiveness with regard to Marketing, Finance, and Technology.
NSIC was started in the year 1955 by our Indian Government. It is a Mini Ratna PSU (Public Sector Unit) and has the objective to raise and elevate the MSME sector in India.
NSIC or National Single Industries Corporation falls under the Ministry of Information Technology, Government of India.
The NSIC Registration is required to be renewed in every two years.
The schemes covered under NSIC are SPRS. i.e., Single Point Registration Scheme; Credit Rating Scheme; Tender Marketing Scheme; Assistance for Raw Material; National hub for SC (Schedule Caste) and ST (Schedule Tribe); and Offering Services concerning Marketing Intelligence
MSME Global Mart is a Business to Business (B2B) portal. It was initiated by the NSIC for offering technology, financial, and business assistance to MSMEs at affordable rates. However, the ones having the Annual Membership can only benefit from the services offered by the MSME Global Mart.
Yes, NSIC can issue a Provisional Enlistment Certificate under the SPRS to those MSMEs which have started their production but are not having the Audited Balance Sheet for the past one year.
An MSME with valid Udyog Aadhar or EM Part-II can obtain NSIC Registration in India. However, the MSMEs which have started their production but are not having the Audited Balance Sheet for the past one year can apply for NSIC registration with a validity of one year.
Yes, Swarit Advisors is an online platform where one can find experienced CA, CS, and legal experts. We have completed NSIC registration in Delhi, Mumbai, Gurgaon, Bangalore, Noida, Chennai, Ahmedabad, Hyderabad, Kolkata, Pune, Surat, Lucknow, Jaipur, Kanpur, Nagpur and other Indian cities.
No, there is no need for an individual to be physically present at our office as the entire process of NSIC registration is 100% online. The applicants just need to provide a scanned copy of the documents required by our experts.
No, the traders are not eligible to obtain NSIC registration in India.
An SPRS certificate remains valid for 2 years and can be renewed in every 2 years.
No, NSIC does not register any units or manufacturer dealing in Drugs and Medicines.
All the MSMEs are qualified to obtain NSIC Registration under SPRS.
An MSME Registration Certificate has lifetime validity. That means there is no need to get it renewed after a point of time. However, NSIC Registration Certificate issued to MSMEs under SPRS (Single Point Registration Scheme) remains valid only for 2 years.