NSIC (National Small Industries Corporation) is an ISO certified Indian Government Enterprise under Micro, Small and Medium Enterprises. National Small Industries Corporation is working to aid, foster and promote the growth of MSMEs (micro, small and medium enterprises) all across the country. NSIC operates all across the nation through a network of Technical Centres and offices. To manage its functions and operations in African countries, National Small Industries Corporation operates performs its administration from Johannesburg, South Africa. Apart from this, National Small Industries Corporation has set up Training cum Incubation Centres managed by highly trained professional manpower.
Mission and Vision of NSIC
Vision: To become a leading organization fostering the growth of MSMEs Sector in India.
Mission: To support and promote MSMEs Sector by providing combined support services encircling Finance, Marketing, Technology and other Allied Services.
Schemes of NSIC
National Small Industries Corporation facilitates MSMEs with specially tailored scheme to build and improve their competitiveness. National Small Industries Corporation provides complete integrated services under Finance, Marketing, Technology and another allied Support service.
Marketing support has been considered as one of the most important tools for the development of any business. It is crucial for the survival and growth of Micro, Small and Medium Enterprises in today’s intensely competitive market. National Small Industries Corporation devised numerous of schemes to support enterprises (both domestic and foreign markets) in their marketing efforts. These schemes are briefly described as under:
Consortia and Tender Marketing
Micro and Small Enterprises in their individual capacity encounter several issues in order to procure & deliver large orders, which negate them a level playing field vis-a’-vis large enterprises. National Small Industries Corporation forms consortia of MSEs manufacturing the same or similar product or products, thereby combining in their capacity.
National Small Industries Corporation applies the tenders on behalf of single Micro and Small Enterprise/Consortia of Micro and Small Enterprise for securing orders for them. Finally, these orders are dispersed amongst Micro and Small Enterprises in tune with their capacity of production.
Disseminate and collect both international as well as domestic marketing intelligence for the benefit of Micro and Small Enterprises. This Marketing Intelligence cell, apart from to spreading awareness about several schemes for MSMEs, will maintain a database in detail and distribute information.
Exhibitions and Technology Fairs
To showcase the core competencies of Micro and Small Enterprises in India and to capitalize market opportunities, National Small Industries Corporation participates in National and International Trade Fairs and Exhibitions every year. National Small Industries Corporation facilitates the participation of the MSEs by offering concessions in rental etc. Participation in these national and international events exposes Micro and Small Enterprises units to international practices and improves their business competencies and prowess.
National Small Industries Corporation enables credit requirements of MSEs in the following areas:
Financing for Raw Material Procurement
The scheme framed by National Small Industries Corporation for the assistance of Raw Material helps MSEs by way of financing the procurement of Raw Material (both indigenous & imported). The salient features are as follows:
- Bulk purchase of basic raw materials at competitive rates.
- Financial Assistance for Raw Materials procurement up to 90 days.
- National Small Industries Corporation facilitates import of scares raw materials.
- National Small Industries Corporation takes overall care of all the documentation, procedures and issuance of a letter of credit in case of imports.
Financing for Marketing Activities
National Small Industries Corporation provides assistance in the financing of marketing actives such as Exports, Internal Marketing and Bill Discounting.
Finance Through Syndication with Banks
To make the sure smooth flow of credit to MSEs, National Small Industries Corporation enters into strategic alliances with several commercial banks to facilitate working capita/ long-term financing of the MSEs across the country. The engagement foresees forwarding of loan applications of the interested MSEs by National Small Industries Corporation to the banks and sharing the processing fee.
Credit Rating Scheme and Performance for Small Industries
The need of Credit Rating Mechanism and Performance appraisal for MSMEs was highlighted in Union Budget’04-05. A scheme for MSMEs has been drafted in consultation with Rating Agencies and IBA (Indian Banks’ Association). National Small Industries Corporation has been appointed the nodal agency for implementation of this scheme through impanelled agencies.
Benefits of Performance and Credit Rating
- Availability of credit at attractive interest rates
- A trusted, independent third party opinion on credit-worthiness and capabilities of Micro and Small Enterprises
- Prompt sanctions of Credit from Banks and Financial Institutions
- Recognition in global trade
- Facilitate buyers/vendors in capacity and capability assessment of MSMEs
- Subsidized rating fee structure for Micro and Small Enterprises
- Enable MSMEs to ascertain the strengths and weaknesses of their existing operations and take corrective measures.
NSIC offers small enterprises the following support services through its Technical Services Centres.
- Material testing facilities through accredited laboratories
- Advise on application of new techniques
- Common facility support in machining, EDM, CNC, etc.
- Product design including CAD
- Energy and environment services at selected centres
- Classroom and practical training for skill upgrading