National Small Industries Corporation

National Small Industries Corporation Limited (NSIC) is a Mini Ratna government agency established by the Ministry of Micro, Small and Medium Enterprises, Government of India in 1955[4][5] It falls under Ministry of Micro, Small & Medium Enterprises of India. NSIC is the nodal office for several schemes of Ministry of MSME such as Performance & Credit Rating, Single Point Registration, MSME Databank, National SC ST Hub, etc.

History

It was established in 1955 to promote and develop micro and small scale industries and enterprises in the country.[4] It was founded as a Government of India agency later made into a fully owned government corporation.

Operation

The National Small Industries Corporation Ltd. (NSIC), is an ISO 9001-2015 certified Government of India Enterprise under Ministry of Micro, Small and Medium Enterprises (MSME).

NSIC operates through countrywide network of offices and Technical Centres in the Country.

Objectives

Government of India to promote small and budding entrepreneurs of post independent India, decided to establish a government agency which can mediate and provide help to small scale industries (SSI). As such they established National Small Industries Corporation with objectives to provide machinery on hire purchase basis and assisting and marketing in exports. Further, SSIs registered with NSIC were exempted from paying Earnest money and provided facility of free participation in government tendered purchases. Also for training persons the training facilities centres and for providing assistance in modernising the small industries several branches of NSIC were opened up by government over the years in several big and small towns, where small industries were growing.[4][5]

NSIC also helps in organising supply of raw materials like coal, iron, steel and other materials and even machines needed by small scale private industries by mediating with other government companies like Coal India Limited, Steel Authority of India Limited, Hindustan Copper Limited and many others, who produce this materials to provide same at concessional rates to SSIs. Further, it also provides assistance to small scale industries by taking orders from Government of India owned enterprises and procures these machineries from SSI units registered with them, thus providing a complete assistance right from financing, training, providing raw materials for manufacturing and marketing of finished products of small scale industries, which would otherwise not be able to survive in face of competition from large and big business conglomerates.[4][5][6] It also helps SSI by mediating with government owned banks to provide cheap finance and loans to budding small private industries of India.[7]

Nowadays, it is also providing assistance by setting up incubation centres in other continents and also international technology fairs to provide aspiring entrepreneurs and emerging small enterprises a platform to develop skills, identify appropriate technology, provide hands-on experience on the working projects, manage funds through banks, and practical knowledge on how to set up an enterprise.[8][9]

type	Government Agency
founded	1955
hq location	NSIC Bhawan, Okhla Industrial Estate
hq location city	New Delhi
hq location country	India‡R1R‡
areas served	India and Africa‡R2R‡
key people	Dr. Subhransu Sekhar Acharya (Chairman & MD) ‡R3R‡
parent	Ministry of Micro, Small and Medium Enterprises, Government of India
website	http://nsic.co.in

National Small Industries Corporation

History

Operation

Objectives

Branches

Gallery

See also

External links

References