NSIC full form is National Small Industries Corporation. NSIC is an ISO certified Enterprise under Indian Government’s Micro, Small, and Medium Enterprise. The National Small Industries Corporation fosters and promotes the growth of MSMEs in India. It operates all over the country with the help of network, Technical Centres and Offices. It also manages NSIC functions in African Countries through its administration from Johannesburg, South Africa.
However, the Johannesburg office was closed in January 2018 for NSIC to look domestic MSMEs closely. In addition, in order to provide the services required by the MSME sectors, National Small Industries Corporation has also set up Training Cum Incubation Centres. It was founded in 1955 as a government agency and was later turned into a government corporation.
What are the Objectives of NSIC?
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The main NSIC functions are to promote the budding small businesses of India and provide help to Small Scale Industries (SSI). The National Small Industries Corporation objectives include:
- To enhance the corporation reach which will ultimately result in business growth.
- To achieve efficiency in operations and productivity and attain better profitability.
- To help manpower in upgrading their skills.
- To provide a safe and clean work environment.
- To provide training to the trainees and help them in self-employment.
What is the Difference between NSIC and MSME?
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Many people often get confused between MSME and National Small Industries Corporation. However, there is a lot of difference between the two. The MSME or Micro, Small, and Medium Enterprises Department is the head of MSMEs in India whereas the National Small Industries Corporation comes under it along with other 6 departments.
THe MSME department formulates and regulates the rules and regulations for the MSMEs in India. The MSME department has introduced many MSME schemes, such as
- Udyog Aadhar
- Zero Defect Zero Effect
- The credit-linked capital subsidy scheme
- MSME Loan in 59 Schemes
The other 6 departments that come under the MSME department apart from the National Small Industries Corporation include:
- Khadi and Village Industries Commission (KVIC)
- National Commission for Enterprises in the Unorganized Sector
- National School of Leadership
- National Institute of Micro, Small, and Medium Enterprises
- National Institute of Entrepreneurs & Small Business Development
- Indian Institute of Entrepreneurship
What are the Documents required for NSIC Registration?
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The following are the documents required for the registration in India:
- PAN (copy)
- MSME registration acknowledgment (copy)
- Details of machinery, equipment, plant, and raw material (with purchase price)
- Certificate of Incorporation
- MOU &
- Ownership documents – premise ownership document or lease deed
- Electricity Bill Copy (latest)
- Partnership Deed
- Form A (Registrar of Firms) with the partner’s name
- Declaration from Partner, Director, or Proprietor
- List of raw materials
- List of employees for technical assistance in production and services
- Performance statement
- Copy of ISO 9000
- Copy of BIS License
- Item for which registration is required
- Audited balance sheet, profit & loss account, and trading account
- Account for the last 3 years
What is the NSIC Registration Procedure?
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The enterprises having Udyog Aadhaar Registration or MSME registration are eligible for the National Small Industries Corporation registration. To obtain registration, the enterprise can submit an application in the NSIC offices – NSIC Delhi, NSIC Hyderabad, NSIC Chennai, NSIC Bangalore, NSIC Kolkata, and other offices or online. After submitting the application, the NSIC department will forward it to the zonal branch or sub-branch nearest to your enterprise for technical inspection.
After receiving the positive inspection report, the registration is granted to your MSME unit.
What are the NSIC Registration Procedure Charges?
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The NSIC registration charges are based on the turnover of the enterprise, based on the latest financial statements. The following are the registration fees:
Less than INR 1 Crores: Micro enterprises are charged INR 3,000 whereas small enterprises are charged INR 5,000.
More than INR 1 Crore: Micro enterprises are charged INR 3,000 plus INR 1,500 for every additional crore in the turnover. Small enterprises are charged INR 5,000 plus INR 2,000 for every additional crore in the turnover.
Apart from the registration charges, there are inspection fee and professional fee as well. The inspection charges for Micro enterprises are INR 2,000 and INR 3,000 for small enterprises. And the professional fee for Micro is INR 6,000 and INR 8,000 for small enterprises.
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