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National Small Industries Corporation

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National Small Industries Corporation (NSIC)
NSIC
IndustryManufacturing, Marketing, Finance, Technology, etc
Founded1955
Headquarters
NSIC Bhawan, Okhla Industrial Estate, Delhi – 110 020
,
India
Websitewww.nsic.co.in

National Small Industries Corporation Limited (NSIC) is a PSU established by the Government of India in 1955[1][2] It falls under Ministry of Micro, Small & Medium Enterprises of India.

History

It was established in 1955 to promote and develop micro and small scale industries and enterprises in the country.[1] It was originally founded as a Government of India agency later made into a fully owned government corporation.

Operation

National Small Industries Corporation Ltd. (NSIC), is an ISO 9001-2008 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. To manage operations in African countries, NSIC operates from its office in Johannesburg, South Africa. In addition, NSIC has set up Training cum Incubation Centre & with a large professional manpower, NSIC provides a package of services as per the needs of MSME sector.

NSIC has recently partnered with Rubique, to facilitate lending for MSME segement. Rubique & NSIC will work together to create an interface which will ease credit facilitation for MSMEs by allowing quicker decision making and evaluation and to widen the product offerings will bring their respective bank/FI tie-ups under one umbrella for MSME.

Objectives

Government of India in order 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, SSI's 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 centers and for providing assistance in modernizing 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.[1][2]

NSIC also helps in organizing 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.[1][2][3] It also helps SSI by mediating with government owned banks to provide cheap finance and loans to budding small private industries of India.[4]

Nowadays, it is also providing assistance by setting up incubation centers 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.[5][6]

Branches

NSIC Technical Services Centres are located at the following places

Name of the Centre Focus area
Chennai Leather & Footwear
Howrah General Engineering
Hyderabad Electronics & Computer Application
New Delhi Machine Tools & related activities
Rajkot Energy Audit & Energy Conservation activities
Rajpura (Pb) Domestic Electrical Appliances
Ramnagar (UK) Electronics & computer Hardware and application
Aligarh (UP) Lock Cluster & Die and Tool making
  • NSIC Technical Service Centre, Howrah
    NSIC Technical Service Centre, Howrah
  • Main Building at NSIC, Howrah
    Main Building at NSIC, Howrah
  • Dr. B.C. Roy Statue in-front of the main building at NSIC, Howrah
    Dr. B.C. Roy Statue in-front of the main building at NSIC, Howrah
  • Front View of NSIC, Howrah
    Front View of NSIC, Howrah

See also

References

  1. ^ a b c d Naidu, N. V. R. (2009). Management And Entrepreneurship. I. K. International. p. 210. ISBN 9788190675789.
  2. ^ a b c Indian Economy By TR Jain, Mukesh Trehan, Ranju Trehan, Dr. Rajinder Uppal. p. 147.
  3. ^ Development Problems and Policies By TR Jain, OP Khanna. p. 291.
  4. ^ "National Small Industries in talks with SBI for cheap loans for MSMEs". Money Life. 27 June 2011. Retrieved 21 January 2013.
  5. ^ "Centre promises aid to help small industries grow". Times of India. 5 January 2012. Retrieved 21 January 2013.
  6. ^ "Small industries body to organise Techmart India 2010 from Nov. 14". The Hindu - Business Line. 11 November 2010. Retrieved 21 January 2013.
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