NSIC stands for National Small Industries Corporation Limited, is a government-backed institution that supports Micro, Small, and Medium Enterprises (MSMEs) in India. With the growing importance of small businesses in India’s economy, NSIC helps MSMEs access financial assistance, raw materials, and government tenders. What is NSIC? The Government of India founded the National Small Industries …
Read MoreIndia’s Micro, Small, and Medium Enterprises (MSMEs) are crucial for economic growth, employment, and industrial development. MSMEs need formal recognition to access government incentives, subsidies, and financial benefits. Udyam Registration simplifies this by providing a government-recognised certificate. This certificate allows MSMEs to receive tax rebates, lower interest rates, and access exclusive schemes. This new system, …
Read MoreRecognising the essential contribution of MSMEs in driving the nation’s economic growth and generating employment, the Government of India has introduced several government business loan schemes. These schemes facilitate collateral-free business loans, subsidised business loan interest rates, credit guarantees and flexible repayment terms. This curbs the challenges faced by MSME businesses with traditional lending institutions …
Read MoreStarting a new company is an exciting experience, full of limitless potential and opportunities. One of the critical factors of a beginning company is acquiring appropriate business loan financing. The Indian government, acknowledging the importance of small and medium-sized firms (SMEs) in economic growth and development, implemented the Pradhan Mantri Mudra Yojana (PMMY). The scheme …
Read MoreIntroduction to Pradhan Mantri Jan Aushadhi Kendra Yojana The Pradhan Mantri Jan Aushadhi Kendra Yojana empowers you to provide affordable, high-quality generic medicines to your community while seizing lucrative business opportunities. This government scheme bridges the gap in healthcare accessibility, ensuring everyone can afford essential medications. By establishing a Jan Aushadhi Kendra, you not only …
Read MoreThe Government of India, aiming to foster a culture of innovation and entrepreneurship, launched the Atal Innovation Mission (AIM) through NITI Aayog with an initial funding of ₹150 crore. AIM supports SMEs and MSMEs by offering resources and opportunities to drive innovation and research. Additionally, it provides access to business loans and machinery loans, empowering …
Read MoreThe Coir Udyami Yojana is a ray of hope for India’s coir sector, promoting entrepreneurship and economic progress. This government initiative enables individuals to enhance their potential for coir-based goods by providing a fusion loan for business and subsidies to set up coir manufacturing units with a maximum project cost of INR 10 Lakh. This …
Read MoreThe NIRVIK Scheme, or Niryat Rin Vikas Yojna, is a groundbreaking initiative by the Indian government to boost the export sector by providing enhanced insurance coverage and reducing business loan interest rates. This scheme is specifically designed to streamline the export credit process, making it more accessible and efficient for exporters, thereby significantly bolstering India’s …
Read MoreWhat is the PMEGP loan scheme? The Ministry of Micro, Small and Medium Enterprises (MSMEs) has introduced the Prime Minister’s Employment Generation Programme (PMEGP), a credit-linked subsidy initiative. This programme began on March 31 2008, combining the previous Prime Minister Rozgar Yojana (PMRY) and Rural Employment Generation Programme (REGP). The programme aims to provide financial …
Read MoreStarting a business in India can be a rewarding venture, as the country’s thriving entrepreneurial ecosystem and large consumer market help push even small ventures forward. However, navigating the legal and regulatory requirements can be challenging, especially for startups as there are several crucial steps to follow when registering a startup in India. The Startup …
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