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Small Scale Industries (SSI): Registration Process, Features & Benefits

Small Scale Industries (SSIs) are entities that are involved in the manufacturing, production, and services of products on a micro or small scale. The maximum investment in machinery, plants, and industries by Small Scale Industries cannot exceed Rs. 1 crore. Small Scale enterprises must come under the guidelines of the Government of India. SSIs, help in the enhancement of employment opportunities, as most of the SSIs are labor-based.
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Rate of Interest13.25% 19.25%
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Enterprise Registration under Small Scale Industry (SSI)

Ministry of Micro, Small, and Medium Enterprises (MSMEs) with the help of the Ministry of Small Scale Industries facilitates the registration process for Small Scale Industries. It is essential to obtain SSI registration to avail benefits of numerous government schemes, subsidies, and incentives. SSI registration form is available online for the applicant to fill and submit to get the registration number. According to the Ministry of Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, MSMEs are classified into two types:

1. Manufacturing Enterprise
2. Service Enterprise

Small Scale Industries Registration Procedure in India

Step 1:  Fill in the registration form by providing all the required information and follow the instructions, as mentioned on the home page to complete the application form

Step 2:  After filling the form, click on ‘Validate and Pay’ to submit the application and to pay the registration fee

Step 3:  Post payment and form submission, an executive will process your application

Step 4:  Once the application is approved, you shall receive the SSI registration certificate online via email

Note: The validity of the SSI Registration Certificate is for a lifetime.

Registration Form consists of 21 elements to be filled online applicant’s  Aadhar card , name, social category, gender, physically handicapped, enterprise’s name, type of organization, and  PAN . In addition, these elements include the location of the plant, office address, applicant’s mobile number, and email ID, date of start of business, bank account number, IFS code, business activity, NIC 2-digit code, and additional details about a business, number of employees, investment amount in plant and machinery and finally applicant’s Aadhar card attachment.

Types of Enterprises & Eligibility (Investment) Manufacturing Enterprise (Investment) Service Enterprise
Micro Enterprise Up to Rs. 25 lakh Up to Rs. 10 lakh
Small Enterprise Up to Rs. 5 crore Up to Rs. 2 crore
Medium Enterprise Up to Rs. 10 crore Up to Rs. 5 crore

Note: Investment amount is done in plant & machinery only, excluding land and buildings.

Compare: What is the minimum interest rate for an SME loan

The distinction between the manufacturing and services enterprises has been removed by making the investment amount and annual turnover similar for enterprises engaged in both sectors.

MSME - Merged Criteria: Investment (Plant & M achinery or Equipment ) and Annual Turnover
Sector/Enterprise Type Micro Enterprise Small Enterprise Medium Enterprise
Manufacturing & Services Sector, Both Investment less than Rs. 1 croreTurnover less than Rs. 5 crore Investment less than Rs. 10 croreTurnover up to Rs. 50 crore Investment less than Rs. 50 croreTurnover up to Rs. 250 crore

Comparison of Interest Rates on Business Loan Offered by Top Banks/NBFCs

Bank/NBFCs Interest Rate
Axis Bank 10.75% p.a. onwards
Flexiloans 1% per month onwards
HDB Financial Services Ltd. 8% - 26% p.a.
HDFC Bank 10.75% - 25% p.a.
IDFC First Bank 10.50% p.a. onwards
Indifi 1.50% per month onwards
Kotak Mahindra Bank 16% - 26% p.a.
Lendingkart 12% - 27% p.a.
Mcapital 2% per month onwards
NeoGrowth Finance 15% - 40% p.a.
Tata Capital 12% p.a. onwards
UGRO Capital 9% - 36% p.a.
Bajaj Finserv 10% to 26%

Benefits of SSI Registration

  • Loans at low or concessional interest rates
  • SSIs can avail various tax rebates, after SSI registration
  • SSI units are granted carry forward of credit for Minimum Alternate Tax (MAT) for up to 15 years
  • Only SSIs are allowed to have access to certain government tenders
  • Acquiring government licenses and certifications becomes easier once a unit receives a permanent registration
  • As many concessions and rebates are available, therefore the cost of setting up of industry reduces

Features of SSI

  • Ownership: Usually small scale manufacturing industries have a sole proprietorship or if required, a partnership with a few individuals
  • Control: The control of the industry is with the owner himself/herself, leading to the active participation of the owner in routine business activities
  • Labor Intensive: Technology in SSI is on a nominal scale. There is extensive use of labor for production activities
  • Short Reach: The operations in the small-scale manufacturing industry are not on large scale. Hence, they are only able to cater to regional demand
  • Flexibility: As the units are comparatively small in size, changing according to the dynamic environment is more feasible for them
  • Resources: Small Scale Industries are located in places where resources are easily made available. This reduces transportation costs for the manufacturer and the use of resources is also efficient

Also Read: Top 6 Government Loan Schemes for Small Businesses

List of SSIs in India

Here, we take a look at the list of some small scale Industries you can work on with low investment:

  • Basic Metal Industries
  • Beverages, Tobacco & Tobacco Products
  • Chemical & Chemical Products
  • Cotton Textiles
  • Electrical Machinery & Parts
  • Food Products
  • Hosiery & Garments – Wood Products
  • Jute, Hemp, and Mesta Textiles
  • Leather & Leather Products
  • Machinery & Parts except for Electrical goods
  • Metal Products
  • Miscellaneous Manufacturing Industries
  • Non-metallic Mineral Products
  • Paper Products & Printing
  • Repair Services
  • Rubber & Plastic Products
  • Transport Equipment & Parts
  • Wool, Silk, Synthetic Fiber Textiles
SSIs are suppliers of various products as mentioned below:
  • Domestic Utensils
  • Hosiery Goods, Sheet Metal Goods
  • Leather and Leather Goods
  • Paints and Varnishes
  • Plastic and Rubber Goods
  • Preserved Foods and Vegetables
  • Ready-Made Garments
  • Safety Matches
  • Stationery Items – Soap and Detergents
  • Toothpaste and Toothpowder
  • Wooden and Steel Furniture

Issues faced by Enterprises

  • Inadequate Finance
  • Lack of marketing support
  • Lack of technology up-gradation
  • Shortage of Raw materials
  • Underutilization of capacity
  • Difficulty in Import & Export
  • Managerial Issues
  • Scare Infrastructure

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FAQs

What is the primary use of SSI registration?

SSI registration can be used in getting concessions and rebates from the government.

What is the maximum investment that can be done by SSI?

The maximum investment allowed for SSI is up to Rs. 1 crore.

Can I register SSI online?

Yes, you can register SSI online by visiting their official website and filling and submission of the application form.

Is SSI registration compulsory?

A business unit falling into the bracket of the MSME provisions is not mandated to register under SSI. Registration is voluntary.

How is the valuation of equipment for services enterprises, and plant and machinery for manufacturing enterprises done?

For computing the value of the Plant and Machinery, and Equipment, its original value is taken into account. There are some component costs that are to be excluded.

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