If you’re a small and medium enterprise, then you surely need an NSIC registration. But before we learn how and why to obtain registration, it’s important to understand what NSIC means.
What is NSIC?
NSIC stands for National Small Industries Corporation, and it’s an Indian Government Enterprise under Ministry of Micro, Small and Medium Enterprises (MSME).
The main aim of National Small Industries Corporation is to aid, promote, and encourage the product and growth of micro, small, and medium enterprises all across the country. Moreover, to promote MSMEs, the government of India has launched several schemes under the corporation.
Why do you need an NSIC registration?
There are several reasons why you will require an NSIC Registration. If your enterprise falls under the categories of MSME, then under the provisions of SPR (Single Point Registration) Scheme of NSIC, you are eligible to avail the benefits of Public Procurement Policy for Micro & Small Enterprises (MSEs) Order 2012. You can avail the below-enlisted benefits:
- Tender sets are issued at zero prices or free of cost.
- MSEs are exempted from payment of Earnest Money Deposit (EMD).
- All the Central Ministries or PSUs or Departments have to set a minimum of 20% of its annual purchase of products or services to obtain from MSEs.
- Out of the annual requirement of 20% procurement from medium and small enterprises, 4% is allocated for units owned by Scheduled Caste or Scheduled Tribes.
- In tender participation, MSEs quoting price band of L1+15 percent is allowed to supply part up to 20% of the requirement by bringing down their price to L1 price (price of non-MSEs).
- 358 items are exclusively meant to be purchased from the Small Scale Industries (SSI).
For more information on NSIC Registration, contact the team of Enterslice. We are one of the best NSIC registration consultants in India aimed at delivering the fastest NSIC registration of your businesses and without any hassle.
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