Commerce Exam > Commerce Questions > Expand NSICa)National small industries corpor...
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Expand NSIC
- a)National small industries corporation
- b)National small business industries center
- c)National small Indian corporation
- d)None of these
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Expand NSICa)National small industries corporationb)National small bus...
**Explanation:**
The correct answer is option A, which stands for the National Small Industries Corporation (NSIC).
The National Small Industries Corporation is a government-owned enterprise in India that provides support and assistance to small and medium enterprises (SMEs). It was established in 1955 with the objective of promoting, aiding, and fostering the growth of small industries in the country.
The NSIC offers a wide range of services to SMEs, including:
1. **Marketing Support:** The NSIC helps SMEs in marketing their products both domestically and internationally. It provides assistance in identifying potential markets, organizing exhibitions and trade fairs, and promoting SME products.
2. **Technology Support:** The NSIC facilitates the adoption of modern technology and techniques by SMEs. It offers technical consultancy services, conducts skill development programs, and provides access to testing and calibration facilities.
3. **Finance Support:** The NSIC assists SMEs in obtaining financial resources for their business operations. It provides various credit schemes, including the Single Point Registration Scheme (SPRS), which enables SMEs to avail credit facilities from banks and financial institutions.
4. **Raw Material Support:** The NSIC helps SMEs in procuring raw materials at competitive prices. It has tie-ups with various raw material suppliers and facilitates bulk purchase of materials by SMEs.
5. **Export Support:** The NSIC promotes the export of products manufactured by SMEs. It provides assistance in obtaining export orders, facilitates export financing, and offers guidance on export procedures and documentation.
6. **Infrastructure Support:** The NSIC develops and manages industrial estates and technology parks for SMEs. It provides infrastructure facilities such as factory sheds, workshops, and office spaces at affordable rates.
In summary, the National Small Industries Corporation (NSIC) plays a crucial role in the development and growth of small and medium enterprises in India. It provides a comprehensive range of support services to SMEs, including marketing, technology, finance, raw material, export, and infrastructure support.
The correct answer is option A, which stands for the National Small Industries Corporation (NSIC).
The National Small Industries Corporation is a government-owned enterprise in India that provides support and assistance to small and medium enterprises (SMEs). It was established in 1955 with the objective of promoting, aiding, and fostering the growth of small industries in the country.
The NSIC offers a wide range of services to SMEs, including:
1. **Marketing Support:** The NSIC helps SMEs in marketing their products both domestically and internationally. It provides assistance in identifying potential markets, organizing exhibitions and trade fairs, and promoting SME products.
2. **Technology Support:** The NSIC facilitates the adoption of modern technology and techniques by SMEs. It offers technical consultancy services, conducts skill development programs, and provides access to testing and calibration facilities.
3. **Finance Support:** The NSIC assists SMEs in obtaining financial resources for their business operations. It provides various credit schemes, including the Single Point Registration Scheme (SPRS), which enables SMEs to avail credit facilities from banks and financial institutions.
4. **Raw Material Support:** The NSIC helps SMEs in procuring raw materials at competitive prices. It has tie-ups with various raw material suppliers and facilitates bulk purchase of materials by SMEs.
5. **Export Support:** The NSIC promotes the export of products manufactured by SMEs. It provides assistance in obtaining export orders, facilitates export financing, and offers guidance on export procedures and documentation.
6. **Infrastructure Support:** The NSIC develops and manages industrial estates and technology parks for SMEs. It provides infrastructure facilities such as factory sheds, workshops, and office spaces at affordable rates.
In summary, the National Small Industries Corporation (NSIC) plays a crucial role in the development and growth of small and medium enterprises in India. It provides a comprehensive range of support services to SMEs, including marketing, technology, finance, raw material, export, and infrastructure support.
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