What was the purpose of setting up National Small Industries

Question

What was the purpose of setting up National Small Industries Corporation (NSIC)?Discuss various programmes of financing under National Small Industries Corporation (NSIC).

17 Apr 2025

Answer :

Word Count : 713

The National Small Industries Corporation (NSIC) was established in 1955 by the Government of India with the primary objective of promoting, aiding, and fostering the growth of small-scale industries (SSIs) in India. The small and medium enterprises (SMEs) sector plays a critical role in the Indian economy by contributing significantly to employment generation, industrial production, and exports. However, these enterprises often face several challenges, including lack of access to capital, modern technology, marketing support, and infrastructure. The NSIC was set up to address these issues and create a conducive environment for the growth and development of small industries.

The primary purpose behind the establishment of NSIC was to support small enterprises with various services that could help them overcome financial and operational barriers. NSIC’s key role is to provide marketing assistance, technology support, and financial help to small and medium-sized enterprises (SMEs) across India. Over time, the scope of NSIC’s functions has evolved to meet the changing needs of the SME sector. Its main aim is to ensure that small industries have access to modern technology, competitive finance ________ ________ ______ _________ _______ ______ _____ ____ __________ ___ _________.
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