Single point Registration Scheme (SPRS) is a start-up scheme backed by NSIC to focus on the advancement of the MSME sector of the country. Indian MSMEs sector contributes around 29% towards the country's GDP by its national and international trade, employing 120 million people in both semi-urban and rural areas.
The Government envisioned MSME sectors doing wonders by promoting growth and development through various schemes like the Single Point Registration Scheme.
Want to know more about Single Point Registration Scheme? Read along to know various aspects of SPRS!
Several PSUs extend support to the Government to enhance the medium and small enterprises in India. National Small Industries Corporation (NSIC) is a part of such PSUs. NSIC registers MSMEs under the Single Point Registration Scheme to escalate the share of purchases from MSEs. NSIC is expediting MSME sectors through its Flagship Program, Single Point Registration Scheme (SPRS).
SPRS is facilitating MSMEs as well as the procurement department. MSMEs registered under SPRS can collectively participate in large Government tenders under a tender marketing scheme.
Under this scheme, MSME’s sector gets a third party inspection certificate which provides these enterprises with an edge over others so that the procurement agencies can cross them as a reliable vendor.
The primary objective of the Single Point Registration Scheme (SPRS) is to accelerate Government purchases from MSME sector. NSIC is a platform regulated by our Government to get Medium and Small Enterprises (MSEs) to utilise the benefits of the Government Stores Purchase Programme. Moreover, the program creates a slew of opportunities to boost purchases from MSE.
The salient features that fall under Single Point Registration Scheme (SPRS) are as follows:
Single Point Registration Scheme has proved to be effective in terms of its unique features. However, you must know about the eligibility criteria for the scheme.
MSMEs are eligible for Single Point Registration Scheme under the following criteria:
Under the public procurement policy for Micro and Small Enterprises (MSEs), units registered under this scheme will experience a plethora of benefits. The benefits of Single Point Registration Scheme are as follows:
Registration under SPRS is straightforward. MSEs can register either online or by visiting the nearest NSIC branch in person. Follow the mentioned steps if you want to register for SPRS online:
The scheme has received enhanced participation by MSMEs in Government tenders.
To recapitulate, Single Point Registration Scheme backed by NSIC is an effective and constructive initiative to help businesses prosper, especially MSMEs. This scheme is a stupendous provision by the Government for those who are waiting for a massive opportunity to set up their commercial venture.
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