National Small Industries Corporation (NSIC) is an ISO certified Indian Government Enterprise under Micro, Small and Medium Enterprises. National Small Industries Corporation which is working to support, foster as well as promote the development of MSMEs (micro, small and medium enterprises) all over the nation. NSIC basically works all over the country by means of a network of Technical Centres and offices. In order to manage its functions as well as actions in African nations, NSIC works and executes its administration from Johannesburg, South Africa. Aside from this, NSIC has established Training along with Incubation Centres which is managed by extremely trained professional manpower.
Mission and Vision of National Small Industries Corporation
Mission:
Towards enhancing the Competitiveness of Micro, Small and Medium Enterprises through furnishing integrated support services encompassing, Marketing, Finance, Technology and other Services.
Vision:
Towards being the premier organization in fostering the promotion and development of Micro, Small and Medium Enterprises in the nation.
Schemes of National Small Industries Corporation
National Small Industries Corporation enables MSMEs with specifically tailored scheme towards building and improving their competitiveness. National Small Industries Corporation furnishes comprehensive integrated services under Finance, Marketing, Technology as well as another allied Support service.
Marketing Support
Marketing support has been considered as one of the significant tools for the development of any business. It is vital for the existence as well as the development of Micro, Small and Medium Enterprises in the current’s strongly competitive market. National Small Industries Corporation created many schemes in order to support enterprises (both domestic as well as foreign markets) relating to their marketing efforts. These schemes are:
Consortia and Tender Marketing
The small enterprises in their distinct capacity had encountered many issues in order to procure and perform large orders, which constrain and confine their growth. NSIC, therefore, adopted the Consortia approach and forms consortia of units manufacturing similar products; thus making it easy for marketing problems of SSIs. NSIC explored the market and secured orders for bulk quantities. These orders are then distributed towards small units in tune with their production capability.
Marketing Intelligence
Disseminating and collecting both international as well as domestic marketing intelligence for the advantage of Micro and Small Enterprises. This Marketing Intelligence unit, apart from spreading awareness relating to several schemes for MSMEs, would maintain a database in-depth as well as distribute information.
Exhibitions and Technology Fairs
In order to showcase the essential competencies of Micro and Small Enterprises in India and to take advantage of market opportunities, National Small Industries Corporation participated in National and International Trade Fairs and Exhibitions each year. National Small Industries Corporation facilitated the participation of the MSEs through offering concessions in rental etc. However, taking part in these national and international events exposed the Micro and Small Enterprises units towards international practices and improved their business capabilities and competence.
Credit Support
National Small Industries Corporation enabled credit requirements of MSEs in the following parts:
Financing for Raw Material Procurement
The scheme that is framed by National Small Industries Corporation for the aid of Raw Material helps MSEs by means of financing the procurement of Raw Material (both indigenous and imported). The main features include:
• Bulk buying of basic raw materials at competitive charges.
• Financial Aid for Raw Materials procurement for up to 90 days.
• National Small Industries Corporation facilitated the import of scares raw materials.
• National Small Industries Corporation takes complete care of every of the documentation, processes and issuance of a letter of credit relating to imports.
Financing for Marketing Activities
National Small Industries Corporation furnishes support in the financing of marketing actions for example Exports, Internal Marketing and Bill Discounting.
Finance through Syndication with Banks
In order to make certain smooth flow of credit towards MSEs, National Small Industries Corporation had entered into strategic alliances with numerous commercial banks towards facilitating working capital/ long-term funding of the MSEs all over the nation. The engagement predicts forwarding of loan applications of the interested MSEs through National Small Industries Corporation towards the banks and sharing the processing charge.
Credit Rating Scheme and Performance for Small Industries
The requirement of the Credit Rating Mechanism and Performance appraisal for MSMEs has been highlighted in Union Budget’2004-2005. A scheme for MSMEs was drafted in discussion with Rating Agencies and Indian Banks’ Association. National Small Industries Corporation was appointed the nodal agency for application of this scheme through empanelled agencies such as CARE, CRISIL, ICRA ONICRA as well as SMERA.
Benefits of Performance and Credit Rating
• Availability of credit at good interest rates
• A reliable, independent third party view on credit-worthiness and competences of Micro and Small Enterprises
• Prompt approvals of Credit from Banks and Financial Institutions
• Recognition in worldwide trade
• Enable buyers/vendors in the capacity as well as capability assessment of MSMEs
• The subsidized rating fee structure for Micro and Small Enterprises
• Allow MSMEs to determine the strengths and weaknesses of their present operations and take corrective actions.
Technology Support
NSIC provides small enterprises with the following support services by its Technical Services Centres.
• Material testing facilities by accredited laboratories
• Advice on the application of the latest techniques
• Provide common facility support in machining, EDM, CNC, etc.
• Product design which includes CAD
• Energy and environment services at designated centres
• Classroom and practical training for skill advancement
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