Are you an exporter looking to expand your business overseas? If so, obtaining an NSIC Certificate could be a crucial step in achieving your goals. In this blog, we will discuss the importance of the NSIC Certificate for exporters and how to get certified.
What is NSIC Certificate for Exporters?
The National Small Industries Corporation (NSIC) issues the NSIC Certificate to small and medium-sized enterprises (SMEs) engaged in manufacturing or service-related activities. This certificate is essential for exporters who wish to participate in government tenders and contracts.
Why is NSIC Certificate Important for Exporters?
NSIC holds several benefits for exporters. Some of them are as follows:
- Enhanced Credibility
Getting an NSIC certificate for exporters can help enhance their credibility in the market. This certificate is a government-issued document that certifies that the exporter is a legitimate and reliable business entity. This can help build trust among potential customers and partners, which can lead to more business opportunities.
- Access to Subsidies and Benefits
Exporters with NSIC certificates are eligible for a range of subsidies and benefits provided by the government. These include access to cheaper credit, marketing assistance, and funding for research and development. Additionally, NSIC-certified exporters are given priority in government tenders and procurement processes, which can lead to more business opportunities.
- Compliance with Quality Standards
NSIC certification ensures that exporters comply with quality standards set by the government. This helps ensure that the products or services provided by the exporter meet the required standards and are safe for consumers. Additionally, it can help prevent the exporter from facing legal issues related to non-compliance.
- Access to New Markets
Exporters with NSIC certificates can access new markets, including government tenders and procurement processes. Additionally, NSIC certification can help exporters expand their customer base by providing reassurance to potential customers about the quality and reliability of their products or services.
- Competitive Advantage
NSIC certification can provide a competitive advantage to exporters in the market. This certificate helps differentiate certified exporters from uncertified ones, and can provide a compelling reason for customers to choose them over others. Additionally, NSIC certification can help exporters stand out in the market, which can lead to increased visibility and brand recognition.
Eligibility Criteria for NSIC Certificate
To be eligible for the NSIC Certificate, the enterprise must meet the following criteria:
- It must be a registered SME engaged in manufacturing or service-related activities.
- Its investment in plant and machinery or equipment should not exceed INR 10 crore for manufacturing enterprises and INR 5 crore for service enterprises.
- It must have a valid PAN and GST registration.
- It must not have defaulted on any loans or payments to the government.
How to Get Certified with NSIC?
Obtaining an NSIC Certificate involves a straightforward process. Here are the steps involved:
- Registration with NSIC
The first step in getting certified with NSIC is to register with them. You can visit the NSIC website and create an account to start the registration process.
- Filling the application form
After registering, you will need to fill the NSIC application form online. You will need to provide details such as your company’s name, address, and contact information.
- Uploading the necessary documents
Once you have filled the application form, you will need to upload the necessary documents. These documents include:
- Certificate of incorporation
- Memorandum of Association
- Articles of Association
- PAN card of the company
- GST registration certificate
- Balance sheet that is being audited and final statements
- Bank statements for the past six months
- Payment of fees
After uploading the documents, you will need to pay the NSIC certification fees. The fees can be paid online through the NSIC portal.
- Verification process
Once you have submitted your application and paid the fees, NSIC will conduct a verification process. During the verification process, NSIC officials will visit your company and inspect your facilities to ensure that you meet the necessary requirements.
- Issuance of NSIC certificate
If your company meets all the requirements, NSIC will issue the NSIC certificate.
- Renewal of certificate
After three years, you will need to renew your NSIC certificate. You can renew the certificate by submitting a renewal application and paying the renewal fees. NSIC will conduct a verification process again before renewing the certificate.
Obtaining the NSIC Certificate for exporters is an essential step in expanding your business and accessing government tenders and contracts. The certificate provides several benefits, including concessions and exemptions, enhanced credibility, and access to finance. Meeting the eligibility criteria and following the simple steps to get certified with NSIC can open up new opportunities for your business and help you achieve your export goals.