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Purpose & Benefits of NSIC Scheme

Tenders Diary Services Private Limied

Benefits of NSIC Scheme

  • It helps in meeting various credit requirements of MSME enterprises around the world as NSIC facilitates the MSME in credit support.
  • NSIC helps in providing financial assistance to MSME units for the procurement of raw material up to 180 days.
  • Enterprises registered under NSIC are eligible for benefit under the public procurement policy of the government
  • Eligible MSMEs having NSIC registration are alloted of tenders totally free of cost.
  • Under the Single point Registration scheme, the MSMEs with NSIC registration are exempt from the Earnest Money Deposit (EMD). EMD was taken from the bidder, to assure his seriousness in a bid.
  • NSIC has reserved 358 items for purchasing particularly from the Small Scale Industries (SSIs) with NSIC registration. This will uplift this SSI sector.
  • NSIC has reserved 20% of the total annual requirement of supplies to be procured from MSMEs. Out of this 4% quota is reserved for the SSI units operated by SC/STs having NSIC registration.

Purpose of NSIC

  • The main mission of NSIC is to promote and support various MSME sectors by providing various support services such as developing marketing techniques, finance and other related services.
  • NSIC serves as a premier organization for the faster growth of various micro and small enterprises around the world.