02 Mar Assistance and Initiatives for Micro, Small, and Medium Enterprises (MSMEs) by NSIC
NSIC (National Small Industries Corporation), an ISO certified Indian Government Enterprise dedicated to Micro, Small, and Medium Enterprises (MSMEs), aims to foster their growth and development nationwide. With a network of Technical Centers and offices spanning the country, NSIC provides comprehensive support services to MSMEs.
To extend its operations in African nations, NSIC administers its functions from Johannesburg, South Africa, alongside establishing Training cum Incubation Centers managed by expert professionals.
Mission and Vision of NSIC:
Vision:
To emerge as a leading organization nurturing the MSME sector in India.
Mission:
To bolster and advance the MSME sector by offering integrated support services encompassing Finance, Marketing, Technology, and other related domains.
Schemes Offered by NSIC:
NSIC offers tailored schemes to enhance the competitiveness of MSMEs, providing integrated services covering Finance, Marketing, Technology, and allied support.
Marketing Support:
Recognizing marketing as crucial for business development, NSIC devises various schemes to aid enterprises in domestic and foreign markets. These include:
- Consortia and Tender Marketing: NSIC forms consortia of MSEs manufacturing similar products, aiding them in securing large orders.
- Marketing Intelligence: Disseminating domestic and international market intelligence to MSMEs, facilitating informed decision-making.
- Exhibitions and Technology Fairs: Participation in national and international trade fairs to showcase MSME competencies and foster business opportunities.
Credit Support:
NSIC assists MSEs in fulfilling credit requirements through:
- Financing for Raw Material Procurement: Providing financial aid for procuring raw materials, including imports, with streamlined procedures.
- Financing for Marketing Activities: Assisting in financing marketing endeavors such as exports and bill discounting.
- Syndication with Banks: Collaborating with commercial banks to ensure smooth credit flow, sharing processing fees for loan applications.
Credit Rating Scheme:
NSIC implements a Credit Rating Scheme for MSMEs, facilitating access to credit at favorable rates, enhancing credibility, and enabling global recognition.
Technology Support:
NSIC offers technical support services through its Technical Services Centers, including material testing, new technique applications, product design, energy, and environment services, along with training for skill enhancement.
By offering a range of schemes and support services, NSIC endeavors to empower and uplift MSMEs, contributing to their sustainable growth and success.
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