Discrimination is made between the units located in\nindustrially developed regions & the units of scheduled castes, scheduled\ntribes, and persons with disabilities, ex-servicemen, and women. New\nentrepreneurs are given special incentives. For imported machinery, an\nentrepreneur must abide by the provisions of the government’s import policy.\nEntrepreneurs have to secure the license for such imports. In special cases,\nthe entrepreneurs have to prepare prototypes of the machines.<\/p>\n\n\n\n
Over a period of time, growth, transition, and development, the NSIC has proved its strength within the country and abroad. It promotes modernization, upgrading technology, quality consciousness, strengthening linkages with large and medium enterprises, and enhancing export projects and products from small-scale enterprises.<\/p>\n\n\n\n
Read our article<\/b>:What are the Schemes for obtaining NSIC Registration?<\/a><\/mark><\/p>\n\n\n\n The policy guidelines to the NSIC are provided by the Board\nof Directors consisting of a full-time Chairman-cum-Managing Director, two\nFunctional Directors, two Government Nominee Directors, one SIDBI Nominee\nDirector, and six Non-official part-time Directors. The Corporation is manned\nby the dedicated team of professionals at different levels. It operates through\n123 offices located all over India and one office located in Johannesburg\n(South Africa).<\/p>\n\n\n\n The National Small Industries Corporation operates through 9\nZonal Offices, 33 Branch Offices, 14 Sub Offices, 10 NSIC Business Development\nExtension Offices, 5 Technical Services Centres, 3 Extension Centres, and 2\nSoftware Technology Parks supported by the team of over 500 professionals\nspread across the country. To manage the operations in African countries, NSIC\noperates from its office in Johannesburg.<\/p>\n\n\n\n The authorized capital of the organization on 31st March\n2013 was 53500 lakhs equity share of 100 each. The subscribed and paid-up\ncapital of a Corporation on the same date was 46299 lakhs shares of 100 each.\nThe loan from financial institutions and banks can provide the loan. Repayment\nof installments and interest due in respect of all loans were promptly made on\nthe due dates.<\/p>\n\n\n\n The Indian MSMEs is to upgrade their technology, quality and adoption of modern management techniques to keep pace with the global changes Investment is the prerequisite to bring about transformation. The availability of adequate credit at an affordable cost, thus, becomes critical for Indian MSMEs. It needs grants and assistance from the sponsoring organization. <\/p>\n\n\n\n The government has extended support in the form of grants and subsidies to this sector through NSIC for promoting MSMEs by taking up Marketing Activities, Commercial Activities, and General Activities.<\/p>\n\n\n\n Considering the growth potentials for MSMEs\u2019 contribution to\nGDP, its export earning capacity and thereby stabilizing the balance of payment\nin the international trade, capabilities to promote entrepreneurship and\ncreation of employment, the government support for MSMEs in the form of grants\nand subsidies through the NSIC increased substantially over the years.<\/p>\n\n\n\n To enhance the competitiveness of MSMEs, the NSIC provides integrated support services in the areas of Marketing, Technology, Finance, etc. It implements various schemes that include Marketing Assistance and Performance & Credit Rating on behalf of the registered MSME<\/strong><\/a>.<\/p>\n\n\n\n In addition, NSIC has been set up the Training cum Incubation Centre. With large professional manpower, it provides a package of services as per the MSME sector’s needs. It carries forward its mission to assist small enterprises with a set of special schemes designed to put them in a competitive and advantageous position. The schemes comprise facilitating marketing support, credit support, technology support, and other support services. It operates the countrywide network of offices and Technical Centres.<\/p>\n\n\n\n The NSIC occupies a unique position among the Institutions set up to aid Small Scale Industries. NSIC has been working to fulfill its mission of aiding, promoting, and fostering the growth of small scale industries, now commonly known micro, small and medium enterprises \u2013 MSMEs in the country. Hence, the functions of NSIC is important for the development of the medium and small scale industries. <\/p>\n\n\n\nFunctions of NSIC <\/h2>\n\n\n
![\"Functions](\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/09\/image-19.png\")
<\/figure><\/div>\n\n\nOrganizational Set-Up<\/h3>\n\n\n\n
Capital Structure & Borrowings<\/h3>\n\n\n\n
Government Grant and Subsidies<\/h3>\n\n\n\n
Schemes of the Corporation<\/h3>\n\n\n\n
Conclusion<\/h2>\n\n\n\n