Faridabad Small Industries Association (FSIA) was established in 1977, and is now in its glorious 32nd year of service to the MSME sector. It is the largest association of MSMEs in Haryana & still growing. FSIA today has carved a niche for itself at the National & International Forums. FSIA has been successfully representing problems of small industries & working for their overall development.

•  FSIA has signed a MoU with Small Industries Development Bank of India (SIDBI). SIDBI has introduced a very special scheme of Collateral-free Equipment Finance upto Rs.50 lacs exclusively for FSIA Members at interest rates PLF less 0.5% (All loans at sole discretion of SIDBI. Subject to terms & conditions).

•  FSIA has signed a MoU with National Small Industries Corporation Ltd. (NSIC) and various services and subsidies provided to SSI units by NSIC are available from FSIA office.

• Central Excise, Service Tax and Customs Help Center” is run from FSIA Office where guidance and advice are provided to SSI units in related areas.

• FSIA is actively associated with various national bodies like CII, FICCI and PHDCCI.

• FSIA is also represented in Public Grievance and Regional Advisory Committee of Central Excise.

FSIA is represented on various Policy making and Advisory bodies of the Union and State Govt.

    FSIA provides FREE services to New Entrepreneurs for the first 2 years: -

1)     Filing of Income Tax Returns

2)     Preparation of Balance Sheet.

3)     Sales Tax Consultation

4)     Filing of Sales Tax Returns.

5)     Allotment of PAN, TAN & TDS Procedures.

      We regularly organize seminars for Business Development for our members like

1)     Vendor Buyer Meet

2)     Quality Standards, Productivity etc.

3)     Banking & Finance.

4)     Active participation in organizing Exhibitions & Trade Fairs on State & National levels.

5)     Interaction with Foreign Business Delegations

Facilitation of Testing-Facilities (Digital computerised Spectrometer, Hardness, load testing etc) through door-step Sample Collection/ drop Centers and door-step Mobile Testing Labs in association with Govt. of Haryana

PUBLICATIONS: FSIA brings out regular e-circulars, monthly newsletters (Periscope) and two special issues on New- Year and Diwali to create awareness about important issues, trends in business and economy. It also publishes its Membership Directory biannually.

SOCIAL OBLIGATIONS:

       FSIA is deeply involved in social & cultural activities such as conducting Sensitization Programmes on various social issues like Child Labour, HIV/AIDS, Disability etc. at District and State levels, Tree Plantations.

Cluster Development:

• FSIA has successfully implemented many Cluster Development Programmes and continues to do so.

• FSIA is presently running Cluster Development Programme for Light Engg & Auto-component Manufacturing MSMEs which is subsidized by the Ministry of MSME, Govt. of India.

• FSIA also supports-Bhartiya Yuva Shakti Trust (BYST) (An organization helping the rural youth to become self-employed and independent by bringing the ‘Business & Youth’ together.) Many of FSIA members are voluntary mentors of young entrepreneurs. Bank of Baroda provides loans without collateral security or guarantee upto Rs.10lacs to entrepreneurs selected by FSIA-BYST Chapter.

• FSIA has created history by forming first all women entrepreneur’s club which presents the unique opportunity to women in the region to acquire modern business and management skills and to unleash the tremendous potential as yet unexplored and unused to enable better business growth & future for everyone.

• FSIA has also formed 4 other Entrepreneurs’ Club in association with Ministry of MSME, Govt. of India with the objective to provide a platform for exchange of thoughts, ideas, experiences and opportunity for University-Industry linkage to ensure continual process of learning through latest developments, provide food for thought to both academicians & practitioners to improve upon the existing practices, to encourage freer flow of knowledge.

PROPOSED ACTIVITIES:

FSIA is in the process of creating a Special Purpose Vehicle (SPV) to carry out various activities like:

• FSIA Center for Competitiveness and Excellence for MSMEs.
• Mini Tool Room
• Entrepreneurship Development Programmes
• Fast Track Financing for MSMEs
• Management Development Programmes (MDP) for MSMEs
• Development of facilities like Design Centers, Tool Rooms, Vocational Skills etc.

Act as nodal agency and resource base for MSME Clusters.

PROMOTION OF SPORTS:

FSIA actively supports various welfare schemes and sports meets to promote sports in the region.

AWARDS FOR EXCELLENCE:

FSIA annually confers Awards for Excellence. The Awards are decided by the jury of eminent persons and categories are:

• FSIA Award for Life Time Achievement

• FSIA Award for Entrepreneur of Year

• FSIA Award for Innovation of the Year

• FSIA Award for Woman Entrepreneur of the Year

• FSIA Award for Test of Fire

• FSIA V. B. Gulati Award for the Services to SME sector

FSIA SECRETARIATE:    

FSIA is housed in the sprawling 4-acre campus of FSIA Park at Sector 24 in Faridabad.

Progressive Entrepreneurs’ Cell

 Members of this special Cell are regularly trained, motivated, guided and provided with lot of support and assistance like govt. subsidies, ISO/TS/QMS Certifications, better credit and finance facilities, group purchase benefits, joint participation in exhibitions etc. to enable them achieve annual growth rate of more than 50%.

Sub-committees:

FSIA has many functional and active sub-committees to help the members with their individual, specific or general issues. Some of the active committees are Banking and Finance, Power, Sales Tax/Vat, Central Excise, Pollution Control, Income Tax, Fairs and Exhibitions, Information Technology, International affairs etc.

Nominations:

FSIA is represented on various Central Govt. and State Govt. Committees.

“Collateral Free Loans” – arranged by FSIA à through SIDBI à for your benefit

• Are you paying high interest rates (16-24%) and heavy installments to Private & Foreign Banks for unsecured loans or loans against property?

• Do you wish to buy any Machine, Generator, Computers, Office Equipment, Toos, Dies, Jigs, Fixture or any other Capital Equipment but have no collateral security to offer?

• Do you often face a situation that when you have to urgently buy some equipment for your business, there is no time to complete loan applications, documentation, sanction letters, disbursal etc. from regular bankers and to meet with your immediate requirement, you either take unsecured loans or Loans against property at high interest rates or use your precious, limited working capital, CC/ ODH Limits?

A survey shows that most of the MSMEs face one or all of the above.

The Core idea is

MSMEs make many unplanned purchases of small equipments throughout the year to meet with urgent requirements. Since these are either small value items or are sudden unplanned, unforeseen developments, there is no time to apply for regular terms loans from usual bankers because of the paper work and time taken.

At this stage there are generally two options before the entrepreneur, both disastrous for the future of MSME.

One is to use working capital funds and pay from CC or ODH accounts. Second is to fall prey to hundreds of unsolicited phone calls from agents and DSAs of many Foreign and Private Banks which are looking just for this moment and offer loans either unsecured or against property. However, these are often short term and at very high rates with hidden costs.

Both situations result in severe liquidity crunch, almost like anemia, and over a period of time eat into the precious and scarce cash reserves of MSMEs and result into a virtual debt-trap for these entrepreneurs. Anemic condition creates more complicated problems for the health and future growth of such MSMEs.

The ideal solution

Ideally, Fixed Assets should come from Long Term funds. Liquid and Cash reserves should be used for working capital. Cash payments should help negotiate bargain discounts on raw material etc. and other cost saving measures.

Upon suggestion and request of FSIA, SIDBI has specially launched a very well planned scheme for small, unplanned, sudden requirements of FSIA Members. Presently, this scheme is exclusively for FSIA and its members.

Highlights*

• Limits can be used to purchase Plant & Machinery, generators, computers, office Equipment, Ind. Plots & Sheds, Capital Equipment, and many other fixed assets as per the approved list.
• No collateral security
• Limits upto Rs.50 Lacs
• Interest Rate PLR minus 0.5%. (Present Interest @ 10.5% p.a.)
• Repayments upto 60 months
• Options to pay Equated Monthly Installment (EMI) or staggered, ballooning with gestation period of upto 6 months wherever required.
• For all Micro, Small and Medium Enterprises which are in existence for 3 yrs and in profits for 2 yrs.
• Proprietorship, Partnership, Pvt. Ltd & Limited companies eligible
• Credit Linked Capital Subsidy (15% Subsidy) available wherever applicable.

Our Suggestion to all FSIA Members:

• Get your limits sanctioned NOW.

• Submit documents & get your credit limit sanctioned which is valid for upto 6 months.

• Use at a time or in small portions as when you wish to buy any fixed asset.

• Pay installments only on the disbursed portion.

• Do paperwork now, spend time on this when you do not need money or have not planned any purchase. So that whenever you need to buy or add any equipment or fixed asset, you don’t have to run around at that moment.

• Once the limit is sanctioned, then at the time you need money to buy approved equipment, just walk into the office of Faridabad Small Industries Association, give proforma invoice and PDCs, sign the loan documents and SIDBI disburses the loan within 1-3 working days.

• Terms and conditions apply

• All loans at sole discretion of SIDBI

• Time mentioned is indicative and subject to submission of required documents and completion of statutory formalities.

• Available only for FSIA Members

FSIA Sub-committees

In a bid to involve more members in our core activities and expand the core working team, we invite FSIA members to come forward and join the following committes and also suggest other areas where they can contribute:

1.     Engineering (Testing, Tool Room, Quality Circles)

2.     Cluster Development Activities

3.     Central Excise, Customs, Service Tax & Income Tax

4.     Power, Energy, Electricity, DHBVNL, HERC

5.     Environment & Pollution Control

6.     Exports & International Marketing

7.     VAT & State Taxation

8.     Human Resources & Social Development

9.     Infrastructure, HUDA, HSIIDC & MCF related issues

10. Young Entrepreneurs

11. Banking, Finance & Credit Counselling

12. New Membership Development

13. Media, Awards, Functions etc.

14. FSIA Publications, circulars, Magazines, Newsletters etc.

15. Exhibitions & Trade Fairs

16. Strategic Sourcing Committee (Raw Materials, common purchases)

These Sub-Committees play a very important role and the activities conducted by these are the milestones to gauge the high image/achievement of the Association. It is thus desirable that the Sub-Committees’ members should be able to devote some time and commitment towards the Sub-Committees’ activities.