Objectives:

The primary objectives of NSIC are as follows:

• Promoting the development of MSMEs in India
• Assisting MSMEs in enhancing their competitiveness
• Facilitating the marketing of MSME products and services
• Providing support for technology upgradation and modernization of MSMEs
• Promoting exports from MSMEs

• Documents Required: Applicants need to provide basic business and financial documents, including GST-related information, bank statements, income tax returns, ownership details, and other relevant documents as specified by the lending institution.
• In-Principle Approval: After submitting the loan application and the required documents, the MSME will receive an in-principle approval letter within 59 minutes if the application is deemed eligible.
• Multiple Lenders: The scheme offers a platform where multiple lenders, including public and private sector banks, collaborate to provide loans to eligible MSMEs. The applicant can choose the preferred lender based on the terms and conditions offered.
• Loan Disbursement: Once the in-principle approval is received, the applicant can choose the lender and complete the necessary documentation and verification process. Upon successful completion, the loan amount will be disbursed to the MSME's bank account.

Services and Support:

• Single Point Registration Scheme (SPRS): NSIC operates the SPRS to facilitate MSMEs in participating in government purchase programs by providing them with a unified registration certificate.
• Marketing Support: NSIC assists MSMEs in marketing their products and services by organizing exhibitions, trade fairs, buyer-seller meets, and providing export-related services.
• Raw Material Assistance: NSIC provides assistance to MSMEs by helping them procure raw materials at competitive prices through various channels, including bulk purchase and rate contracts.
• Finance Facilitation: NSIC facilitates the availability of credit to MSMEs through various schemes, including the Credit Support Scheme and the Performance and Credit Rating Scheme.
• Technology Upgradation: NSIC assists MSMEs in adopting modern technologies and upgrading their manufacturing processes through initiatives like the Rapid Incubation Program and the Technology Incubation and Development of Entrepreneurs (TIDE) scheme.
• Skill Development: NSIC conducts skill development programs and training sessions for MSMEs to enhance their capabilities and competitiveness.

• Collaborations: NSIC collaborates with various national and international organizations, including banks, financial institutions, industry associations, and government agencies, to provide comprehensive support to MSMEs.
• National Small Industries Corporation Subsidiaries: NSIC operates through its subsidiaries, including NSIC Technical Services Centre (NTSC), NSIC Infomediary Services, and NSIC International Ltd. These subsidiaries focus on specific areas such as technical support, information services, and international trade promotion.