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NSIC stands for National Small Industries Corporation. Ever wondered what it is or heard about it? NSIC is a Mini Ratna PSU that was created by the Indian Government in 1955 It is under the supervision of its parent organization, Ministry of Micro, Small and Medium Enterprises (MSME).
Objectives of NSIC
It is an initiative undertaken by the government to promote budding entrepreneurs by helping and mediating the small scale industries (SSI). As part of this vision, NSIC accomplishes it by providing machinery based on hire purchase and helping them in marketing and exporting. It serves as a single point helping window to the small industries by supplying materials such as coal, steel, iron, and similar others. Its branches are spread across multiple cities and towns in India with each of them catering to the specific focus area through their technical services centers.