NSIC Certificate

NSIC registration is issued under the Single Point Registration Scheme to the MSMEs and is valid for two years. Further, it needs to be renewed in every two years.

What is NSIC Registration?

NSIC is a Mini Ratna PSU set up by the Government of India in the year 1955. NSIC connects with different MSMEs operating in India. NSIC promotes and provides aids for the growth of MSMEs across the country. The corporation gives setup training and incubation, which is managed by experts and professionals. NSIC offers an integrated support service regarding various fields which include technology, finance and marketing. NSIC also registers Micro & Small Enterprises (MSEs) under Single Point Registration Scheme (SPRS) for involvement in Government purchases.

NSIC registration – Eligibility Criteria

The business enterprises fulfil the following conditions to become eligible for NSIC registration:

  • All those Micro Enterprises who invest in plant & machinery up to Rs. 25 lakhs and invest up to Rs. 10 Lakhs in the service sector
  • All those Small Enterprises who invest in plant & machinery up to Rs. 5 Crore and invest up to Rs. 2 crores in the service sector
  • Those enterprises which hold the MSME Certificate
  • The enterprises which have completed one year of business commencement.

Benefits for NSIC registration

The benefits for the NSIC registration are as follows:

  • Free Allotment of tenders – NSIC registration enables the allotment of tenders totally free of cost to eligible MSMEs
  • No EMD deposit – MSMEs having NSIC registration need not pay Earnest Money Deposit (EMD).
  • Development of SSIs – NSIC has reserved around 358 items for purchase, particularly only from (Small Scale Industries) SSIs for the upliftment of this sector.
  • Assistance in Government tenders – All MSMEs bidding for government tenders within the price cap are allowed to supply up to 20% of the demand on the reduced price.
  • Reserved Quota – From the total annual requirement of 20% supplies from MSMEs, 4% is reserved for the units owned by SC/STs category.
  • Progress of MSMEs – NSIC executes various interconnected aid services concerning marketing, technology, finance and other such support to MSMEs.
  • Increased Sale – PSUs, departments and central ministries assure a minimum of 25% of the total annual purchases of products and services produced by MSEs.
  • Provides consultancy services – NSIC in India encourage entrepreneurship development, capacity building, policy and institutional framework and business development services to MSEs.

Document required for NSIC

  • Udyog Adhaar Memorandum (UAM) Number
  • GST certificate
  • Copy of PAN
  • Copy of last Electricity Bill
  • Copy of Sales Deed
  • Proof of Business existence for a minimum of 3 years Audited balance sheet
  • Profit and Loss account statement for the previous 3 years
  • Declaration of entry been made in MSMEs Data Bank
  • List of employees involved in production and services
  • Attested copy of ownership documents of the business location
  • Declaration Certificate from the Directors, Proprietor and Partner whether or not they have any link with large scale Unit

Frequently Asked Questions

NSIC – National Small Industries Corporation is a public sector undertaking to promote and sustain small and micro industries and businesses, whereas MSME – Micro, Small & Medium Enterprises promotes equitable developments and helps in the growth of the economy.

NSIC Certificate is a vital document that is given to MSMEs to enable them for a single point of registration for purchases in government and credit rating schemes for small industries.

The following banks are associated with NSIC for providing credit: • AXIS Bank • Bank of Maharashtra • Canara Bank • Corporation Bank • Federal Bank • HDFC Bank • Indian Bank • IndusInd Bank Ltd. • Jammu and Kashmir Bank Ltd. • Kotak Mahindra Bank • Oriental Bank of Commerce • Syndicate Bank • Tamilnad Mercantile Bank Ltd. • The South Indian Bank • UCO Bank • Yes Bank

The Vision and Mission of NSIC is to support MSME – Micro, small and medium enterprises by fostering their growth and providing integrated services on technology, marketing, finance, and other vital services.

The various skills for International Consultancy Services under NSIC are: 1. Training on Institutional and Policy Framework 2. Skills comprising Capacity Building 3. Training on the development of Entrepreneurship skills 4. Development of Business Framework and services.

The following objectives formulate the integrated services in training of unemployed youth for Entrepreneurship skills like: 1. How to select the right projects for small businesses 2. Sourcing and identification of machinery, plant and other equipment. 3. How to avail credit facility and other support services 4. How to boost small businesses in services and manufacturing sectors. 5. Skill development for setting up for enterprises (new and small) 6. How to prepare files and reports regarding new projects.

NSIC helps in: • Leveraging 90 days financial provisions for the procurement of Raw Material. • It helps the MSMEs to import raw materials which are out of supply and are scarce. • It helps the enterprises to purchase bulk raw materials at affordable prices • MSIC helps in the documentation process, procedures and issuing letters of credit in case the raw materials need to be imported.

Benefits of Performance and Credit Rating are: • Global trade is made possible • It ensures the credibility of the MSMEs • Attractive Interest Rates in case of a good credit score • Sanctions and prompt approvals from banks for the provision of loans • The fee structure for MSMEs is available at subsidised rates. • It further facilitates buyers to conduct capacity assessments of these MSMEs. • It helps MSMEs to understand their own strengths, weaknesses, opportunities and threats and further work on control ad corrective measures.

NSIC provides the following Technical support functions: • Facility support in multiple facets of technology • Accredited laboratories set up for material testing facilities • Services for consultancy on how to apply new techniques • Product design • Services regarding environment and energy and environment provided at selected centres • Skill upgradation through classroom and hands-on training.

The benefits are • Consists of Database of MSMEs • Information about Global & National Tender • Web- development tools • Online purchasing, marketing and selling • Payment Gateway and multiple options for payment • Discussion Boards and support on various languages • Cart for multiple products • Customer support through Lie Chats and Call centres • Web store for MSMEs • No limit on the trade leads (globally) • Section dedicated to popular products • Unified mail system and Free mailboxes • Trust Seal of NSIC • Many other Value added Services.