NSIC stands for the National Small Industries Corporation, which was started in India in 1955. Being an ISO-certified organization, it registers Micro and Small Enterprises (MSMEs) under a single point registration scheme (SPRS) for getting involved in government procurement. It offers access to government contracts, discounts, and benefits. Any MSME registered under this system should consider the Single Point Registration System (SPRS).
The MSMEs can obtain various advantages and foster growth and development with this scheme. There are multiple forms of schemes under the NSIC system. The schemes include credit rating, single point registrations, and marketing schemes.