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| Date | 12/31/2024 4:04:07 PM |
Under the Ministry of Micro, Small, and Medium Enterprises (MoMSMEs), the Government of India oversees the National Small Industries Corporation (NSIC). NSIC encourages and supports MSMEs’ expansion across the country. Professionals oversee the corporation’s incubation and training programs. NSIC offers comprehensive support services across multiple domains, including technology, marketing, finance, and support services. Micro and Small Enterprises (MSEs) can participate in government procurement by opting for NSIC Registration under the Single Point Registration Scheme (SPRS).
The Indian government founded the National Small Industries Corporation in 1955. As of right now, NSIC is a well-known Mini Ratna PSU with ISO 9001:2015 certification. The Government of India established NSIC to support small and expanding businesses in post-independence India. NSIC serves as a middleman, offering support to small-scale industries (SSI). MSEs with NSIC registration are eligible for a number of government development programs, which can help them expand their businesses significantly.
Benefits of NSIC Registration
NSIC Registration brings a wide range of benefits for the entities to enjoy under the domain. Few of such benefits are as follows-
1. Free issuance of the tender sets;
2. waiver of the need to pay an earnest money deposit (EMD);
3. Participating MSEs in the tender who quote prices within the L1+15 percent price band may also supply up to 25% of the requirement by lowering their prices to L1 price, provided that L1 is made up of non-MSEs.
4. Every Central Ministry, Department, and PSU must set an annual target of acquiring at least 25% of the total amount of goods and services produced or provided by MSEs.
5. Three percent goes toward units owned by women entrepreneurs, and four percent goes toward units owned by Schedule Caste/Schedule Tribes, out of the yearly minimum of twenty-five percent procurement from MSEs.
6. 358 products are only available for purchase at SSI Sector.
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