National Small Industries Corporation (NSIC)

What is NSIC?

NSIC means National Small Industries Corporation. NSIC is an enterprise of the Government of India that works to upgrade the micro, small and medium enterprises of the country, support them and enhance their development.

National Small Industries Corporation was established in 1955. NSIC started upgrading new and old small enterprises in the country and abroad from its inception year. It also carries out the firm’s financial condition, marketing, raw material distribution schemes, and technical support programs.

The National Small Industries Corporation Limited (NSIC) works to assist in the development of many micro, medium & small scale units and provide assistance in the sale of projects and products (Increasing export). Laghu Udyog Nigam carries out its operations smoothly through its branch offices and technical service centers spread across the country.

Apart from all these tasks, NSIC mainly consists of training and incubation of businessmen in the industry. NSIC provides a wide range of services as per the needs of the business, manpower as well as the industry enterprise sector.

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What Are The Facilities Provided By NSIC?

  • The National Small Industries Corporation (NSIC) helps small & medium scale industries make available domestic and foreign machines on rent and purchase.
  • Provide Financial Assistance to Small Scale Industries (Small and Medium Businesses) through various loan schemes.
  • Assist in obtaining product design including CAD.
  • Providing classroom and practical training for skill development for technical proficiency.
  • Assistance in getting government orders: To help in getting orders for the purchase of those products in the offices of the Central and State Governments for the sale of products made by small and cottage industries.
  • Arrangement for exhibition and advertisement: The Central Government and the State Government periodically arrange advertisements for exhibition and government expenditure for cottage and small scale industries. The NSIC arranges various exhibitions and advertisements organized by the Central Government and the State Government to increase sales and promote their small and medium scale industries.
  • Providing energy and environmental service at selected centers.
  • Advising on the adoption of new technologies.
  • Co-ordinating with big companies: There is a general belief that if the product belongs to a large company, it will be better. This increases sales. NSIC coordinates between Small Scale Industries and Large Scale Industries so that small scale products can be sold along with large industrial products. This method is very helpful for small and medium businesses to increase sales.

Overall, the National Small Industries Corporation (NSIC) is an organization to help small scale industries get the benefit of special schemes made for small and medium scale industries. NSIC carries forward its mission of supporting small enterprises with a set of schemes so that these small scale industries can become a competitor and reach a profit position. These plans include marketing assistance, business loan assistance, tech support as well as other services.

How To Register In NSIC?

There are two ways for SMEs to register with NSIC which are online and offline.

Online Registration of NSIC

To apply online at NSIC, one must first go to the website of NSIC. After opening the website, you have to click on the button to apply online. Now the registration form will open in front of you. Now all you have to do is fill the requested information in the form carefully and attach the required documents and submit the form.

Offline Registration of NSIC

For offline registration, the form needs to be filled & the required documents need to be arranged which has to be submitted to the nearest office of National Small Industries Corporation. Click to get the form.

NSIC Registration Fees

Fees have to be paid for the registration of small scale industry in National Small Industries Corporation (NSIC). The fees are as follows:

Branch Branches and Service Centers of NSIC

Branch NameService Center Area
ChennaiLeather & Footwear
HowrahGeneral Engineering
HyderabadElectronic and Computer Applications
New DelhiMachine Tools and related works
RajkotEnergy, Audit, and Energy Conservation Activities
RajpuraHousehold Electrical Appliances
AligarhLock Cluster and Die & Tool Making
NeemkaGeneral Engineering

Interest Rates Under The NSIC Scheme

The rate of interest offered by NSIC to MSME ranges from 10.50% to 12.00% per annum.

NSIC has signed the MOU with the nationalized, private banks and NBFCs for the purpose of meeting credit needs of MSME units.

The credibility of the venture & present and future stability & viability plays a significant role in deciding the rate of interest.

Types of NSIC Loan

The types of NSIC loan are:

MSME Loan

MSME loan schemes are majorly used by business owners and enterprises to meet their working capital requirements, manage cash flow, business expansion, buying equipment, and machinery, and much more

Term Loan

Term loans can be categorized based on their tenure into short-term loans and long-term loans. Term loans that are of a shorter duration, usually less than one year, are called short-term loans. Loans with a duration of three or more years are classified as long-term loans.

Documents Required

For availing MSME loan, the following documents are required:

ICICI-Prudential-Internal-page

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