Boost Your Business Growth NSIC Registration
The NSIC Registration process in India refers to the registration of micro and small enterprises (MSEs) with the National Small Industries Corporation (NSIC). National small industries corporation ltd.
Adding and fostering the growth of small scale industries and industry, Purpose of The NSIC Registration is to promote the development of small businesses in India by providing support services such as marketing assistance, technology support, financial assistance, and more now you can understand what is the purpose of NSIC.
To register with NSICMSEs need to fill out an application form and provide certain documents, such as proof of ownership, proof of address, and proof of registration. Once registered, MSEs are eligible to access a range of support services from NSIC, including marketing assistance, technical support, financial support, procurement support, incubation support, export facilitation services, and more.
Free Consultation by Expert
What are the Benefits of NSIC Registration ?
Registering with the National Small Industries Corporation (NSIC) in India offers several benefits that are worth noting:
– Access to government tenders: NSIC-registered small businesses can participate in government tenders, increasing their chances of winning contracts.
– Marketing support: Registered businesses receive marketing support and are given preference in government and Public Sector Undertakings (PSUs) purchases.
– Financial assistance: Eligible registered businesses can access financial assistance such as term loans, working capital loans, and credit facilities from NSIC-associated banks.
– Technology support: NSIC provides technical support to help registered businesses develop and adopt innovative technologies.
– Incubation support: NSIC has a network of incubation centers to support new businesses in their growth and development.
– Export assistance: NSIC helps registered businesses promote their products overseas through various export programs.
– Government scheme support: Registered businesses receive additional government scheme supports, including subsidies that reduce their manufacturing costs.
NSIC Registration process in india?
- Eligibility Check: Ensure your enterprise meets the MSME criteria.
- Online Application: Submit an online application on the NSIC portal [URLnsic ON National Small Industries Corporation nsic.co.in]
- Document Submission: Upload necessary documents like business registration proofs, PAN card, and product/service details.
- Physical Verification: An NSIC official might visit your business premises for verification.
- Registration Fee Payment: Pay the registration fee (nominal fee for SC/ST and subsidized for North Eastern Region).
- Certificate Issuance: Upon successful verification and approval, you’ll receive an NSIC registration certificate.
Validity & Renewal :
– The NSIC registration certificate is valid for two years and needs to be renewed through a similar process.
What are the NSIC registration documents required ?
To register with NSIC in India, you’ll need to provide the following documents:
- Permanent Account Number (PAN): A copy of your PAN card.
- Tax Identification Number (TIN): A copy of your tax registration certificate.
- Bank Certificate: A copy of your bank statement attested by the bank, showing details of your business, like name, address, and account number.
- Proof of Ownership: Documents that prove your ownership, such as a rent agreement, property papers, or any other document showing proprietorship or ownership of the business.
- GST Registration Certificate: A copy of your GST registration certificate (for manufacturing companies only).
What are the functions of NSIC ?
The National Small Industries Corporation (NSIC) plays a pivotal role in supporting the growth and development of small-scale industries in India. Its functions encompass a broad spectrum of activities aimed at empowering and enabling small enterprises to thrive. Here’s a more detailed overview:
1. Financial Assistance: NSIC provides various financial schemes and assistance programs tailored to the needs of small-scale industries, including loans, credit facilities, and subsidies, to help them overcome financial barriers and facilitate growth.
2. Marketing Support: NSIC assists small businesses in marketing their products and services through initiatives such as participation in trade fairs, exhibitions, and buyer-seller meets, both domestically and internationally. This support helps small-scale industries expand their market reach and explore new business opportunities.
3. Technology Support: NSIC offers technology support services to small enterprises by facilitating access to modern technologies, technical expertise, and training programs. This helps enhance the competitiveness and efficiency of small-scale industries, enabling them to adapt to changing market demands and technological advancements.
4. Procurement Assistance: NSIC facilitates the procurement of raw materials, machinery, equipment, and other essential resources for small-scale industries through centralized procurement processes, bulk purchase arrangements, and collaborations with government agencies and private sector entities. This enables small businesses to benefit from economies of scale and obtain quality inputs at competitive prices.
5. Promotion of Ancillary Industries: NSIC promotes the development of ancillary industries by encouraging small-scale enterprises to engage in ancillary production activities, subcontracting arrangements, and vendor development programs. This fosters backward and forward linkages within the industrial ecosystem, driving synergies and value creation across the supply chain.
6. Entrepreneurship Development: NSIC provides entrepreneurship development programs, skill enhancement initiatives, and capacity-building workshops to nurture entrepreneurial talent, impart essential business skills, and foster a culture of innovation and enterprise among aspiring and existing small-scale entrepreneurs.
7. Quality Certification: NSIC offers quality certification services such as ISO certification, product testing, and quality assurance consultancy to small-scale industries, helping them meet national and international quality standards, enhance product quality and reliability, and gain a competitive edge in the market.
8. Export Promotion: NSIC facilitates the export activities of small businesses through export promotion programs, market research, export documentation assistance, and logistics support, with the aim of expanding their presence in global markets and boosting export earnings.
9. Policy Advocacy: NSIC advocates for favorable policy measures, regulatory reforms, and institutional support for small-scale industries, representing their interests and concerns to government agencies, policymakers, and other stakeholders to create an enabling environment for their growth and sustainability.
Overall, NSIC’s multifaceted functions contribute significantly to the promotion, development, and sustenance of small-scale industries in India, playing a crucial role in driving economic growth, employment generation, and inclusive development across the country.
What is NSIC Registration Fees ?
Businesses with a turnover of 1 crore or more are required to pay a fee of Rs. 3000, while small enterprises with a turnover less than 1 crore are charged a fee of Rs. 5000 .
What we offer?
A Complete Consulting and Guidance:
– Black Tie India LLP specializing in business registration or MSME support can guide the MSE through the eligibility criteria, application process, and required documents.
– They can explain the benefits of NSIC registration and ensure the MSE understands the potential impact on their business.
Document Assistance:
– Black Tie India LLP can help the MSE prepare and compile the necessary documents for the NSIC application, including business registration proofs, PAN card details, and product/service information.
– They can ensure the documents are formatted correctly and meet all NSIC requirements.
Online Application Support:
– Some companies offer assistance with the online application process on the NSIC portal. This can be helpful for MSEs unfamiliar with the online system or those facing technical difficulties.
Liaison and Follow-Up:
– We act as a liaison between the MSE and NSIC, handling communication and following up on the application status. This can free up the MSE’s time to focus on running their business.
Verification Assistance:
– In some cases, an NSIC official might visit the MSE’s premises for verification. A consulting company might be able to help prepare for this visit and ensure everything is in order.
Additional Services:
– At Black Tie we offer supplementary services like credit rating improvement strategies or assistance in identifying relevant government subsidy schemes that the MSE might be eligible for after NSIC registration.