Nitin Gadkari: “Ministry and World Bank working on credit guarantee program to finance unrated MSMEs”

The government is aiming to really educate MSMEs about the benefit of adopting solar rooftop and achieving cost-competitiveness. Read more...

India will not become a $ 5-trn economy, if MSMEs remain small: Ram Iyer

In conversation with Rakesh Rao, Ram Iyer, CEO & Founder of Vayana Network, elaborates on trade financing, importance of MSMEs for India's economy and support extended by Vayana Network for ushering growth of MSMEs. Read more...

Budget 2021: Infra push to generate demand for manufacturing sector & MSMEs

By allocating Rs 5.54 trillion for infrastructure development, budget 2021-22 aims to generate demand for the manufacturing sector, especially MSMEs. Read, how companies are reacting to the budget. Read more...

Budget 2021 aims to rationalise duties; proposes changes to benefit MSMEs

To benefit MSMEs, budget proposes to increase duty on steel screws, plastic builder wares and on certain auto parts. The budget 2021 proposes to review 400 old exemptions in the custom duty structure this year. Read more...

MSMEs must grow their appetite for new technology: Ravichandran Purushothaman

Ravichandran Purushothaman, President, Danfoss India, expects more budgetary provisions for this bourgeoning sector, to build an institutional mechanism to implement the technological transformation process pan India and enable the industry to build skill and capacity. Read more...

CBIC introduces Liberalised Authorised Economic Operator Package for MSMEs

The scheme aims to attract MSMEs to become Authorised Economic Operators (AEOs) and avail the various benefits. CBIC has relaxed the compliance criteria provided the MSMEs have a valid certificate from their line-Ministry. Read more...

Siemens, BMZ, and MSDE launch technical education initiative IGnITE

Indo-German Initiative for Technical Education (IGnITE) aims at developing highly qualified technicians based on the German Dual Vocational Educational Training (DVET) model with a focus to make them industry and future ready. IGnITE aims to help develop around 40,000 skilled workforce by 2024 Read more...

TNBA urges to stop auctions and strengthen boiler MSMEs

The association demanded the case of MSME NPA units in Tiruchi must be given a special consideration as they provided employment, paid taxes promptly and followed other statutory obligations. Read more...

FM announces Rs 2.65 trn stimulus under Aatmanirbhar Bharat 3.0 to boost growth

Emergency Credit Line Guarantee Scheme for MSMEs, businesses, MUDRA borrowers and individuals extended till March 31, 2021 and additional credit up to 20%. Provides Rs 30 billion to boost project exports and Rs 102 billion additional budget stimulus for capital and industrial expenditure. Read more...

Extend PLI scheme to MSMEs to boost electronic manufacturing in India: Study

According to a research study of MVIRDC World Trade Center Mumbai, government should reduce the investment limit under the PLI scheme for select electronic components to Rs 200 million from Rs 1,000 million to allow MSMEs to participate in this scheme. Read more...

2nd IPF Buyer-Seller Summit: Making MSMEs Aatmanirbhar

The 2nd Virtual Buyer-Seller Summit- saw participations from Office of Development Commissioner MSME (Ministry of MSME), NTPC Ltd, L&T Power, Rashtriya Ispat Nigam Ltd (Vizag Steel) and Nordex - educated vendors on approaching large companies to help MSME become regular suppliers, thereby improving efficiency of manufacturing Read more...

Pharma MSMEs demands to expedite implementation of PTUAS

The recently announced PLI scheme is a good move towards making Indian pharma industry self-reliant. However, PTUAS does not have any investment restriction therefore it will benefit all the players. MSMEs through various bodies have recommended changes in the existing criteria of PTUAS. Read more...

Government not keen to extend credit guarantee scheme for MSMEs

The objective is to provide support to all those affected and if there are no takers for the scheme, there is no need to extend the scheme even though there is some room left. Read more...

New DRDO Procurement Manual 2020 encourages participation of MSMEs, start-ups

The new DRDO Procurement Manual will facilitate the indigenous defence industry by simplifying the processes and ensure their participation in design and development activities. Read more...

MSME Ministry writes to over 2800 corporates to clear MSME dues

The Ministry's vigorous follow up with CPSEs, state governments, corporates, etc brings in very good results. With CPSEs paying Rs 3,700 crore to MSMEs in Sept 2020; the highest in a month, takes total payment to Rs 13,400 crore in last 5 months Read more...

India cannot become $ 5 tn economy without MSMEs: Sanjeev Chawla

In this interview with Rakesh Rao, Sanjeev Chawla, Director, Office of Development Commissioner (DC) MSME, Ministry of MSME, discusses challenges faced by MSMEs and probable solutions. Read more...

IPF Buyer-Seller Summit: Fulfilling Make in India goals

The virtual Summit - which saw participations from Defence Investor Sell (MoD), SAIL, Hindustan Aeronautics Ltd, Godrej & Boyce and Vedanta Aluminium - enlightened vendors about procurement strategies of big buyers and help MSMEs be part of their supply-chain. Read more...

Banks sanction loans worth Rs 1.25 cr to 25.74 lakh MSMEs till Sept

The latest numbers on ECLGS, as released by the ministry, comprise disbursements by all 12 public sector banks (PSBs), 24 private sector banks and 31 non-banking financial companies (NBFCs). Read more...

Enable MSMEs to fight competition

The clamour for boycott of Chinese goods in India is growing due to the heightened tension at the Galwan border in Ladakh where 20 Indian soldiers were killed in action on the night of July 15. Read more...

GeM has potential to reach Rs 5-7 trillion in GMV: Talleen Kumar

In this interview with Rakesh Rao, Talleen Kumar, IAS, CEO of Government e-Marketplace (GeM), which has annual sales of over Rs 630 billion in gross merchandise value (GMV), explains how GeM is making public procurement more transparent & efficient leading to creation of a vibrant buyer-seller ecosystem Read more...

Mediation: A cost effective tool for resolution of disputes for MSMEs

Mediation can really benefit MSMEs as it offers level playing field for them and costs less and take less time. Globally, only 2 per cent of mediated settlements have problems in implementation Read more...

Govt’s economic package to benefit machine tool industry: IMTMA

The momentum set by this economic package will help industries to pick themselves up from the economic slowdown and coronavirus outbreak that they were battling with, says Indradev Babu, President, IMTMA Read more...

Govt’s relief measures focuses on MSMEs to reduce COVID 19 impact

Govt’s relief measures focuses on MSMEs to reduce COVID 19 impact Read more...

Here’s how we can rescue MSMEs

The Supreme Court has chosen to turn a deaf ear to the pleas of the small businesses of the country wanting it to ward off the looming threat of penal action under the Ministry of Home Affairs order and the Disaster Management Act. Read more...

India should be ready to scale up footwear production to tap exports: Adesh Gupta

In this interview, Adesh Gupta, CEO of Liberty Shoes, highlights challenges before footwear industry and explores new opportunities before India due to Covid 19 effect Read more...

Ministry suggest increase in credit guarantee for MSMEs to Rs 5000 bn

MSME Minister Nitin Gadkari urge industry to look upon the present crisis as opportunity especially as some countries are looking to move away their investments from China. Read more...

[Budget 2020] Budget aims to give boost to MSME sector with number of proposals

MSMEs turnover threshold for audit increased 5 times to Rs 5 crore, proposes Rs 1000 crore for MSME funds, increase customs duties on labour-intensive products like footwear, furniture, etc Read more...

Govt amends interest subvention scheme for MSMEs to give fillip to the sector

The Minister for Micro, Small and Medium Enterprises (MSMEs) and Road Transport & Highways, Nitin Gadkari has approved the changes in the Interest Subvention Scheme for MSMEs, in a meeting held to review the functioning of the scheme. Read more...

ELECRAMA will connect MSMEs to global value chains

With the installed power generating capacity of 365,048 MW as of October 2019, India has emerged as the world’s third-largest electricity producer & consumer. Read more...

Govt approves changes in interest subvention scheme for MSMEs to give fillip to the sector

Post changes, MSME units eligible for GST can now avail the benefits of the scheme with just their GST number (GSTN) Read more...

Budget 2019-20 allocates Rs 350 cr under Interest Subvention Scheme for MSMEs

To provide domestic industry a level playing field, basic customs duty has been increased on items such as PVC, metal fitting, auto parts, optical fibre cable, CCTV camera, IP camera, etc Read more...

IRIS and Logo Infosoft’s Vyapari- a free and GST-compliant ERP software for MSMEs

Vyapari is validated through stringent evaluation criteria for quality and ease of use. Being simple and easy to use, Vyapari automates the complete accounting and compliance process of MSMEs from billing until GSTR filing. Read more...

EEPC displays India’s manufacturing potential at Hannover Messe 2019

The organisation - along with the Ministry of Commerce and Department of Heavy Industry – took various initiatives to reach out to German companies for attracting technology and investment in India Read more...

“RDSO wants to encourage MSMEs for supplying products to railways”

Development of new technologies, adoption of latest technologies and up-gradation of present technology are focus areas of RDSO to meet the challenges of enhanced safety and throughput. RDSO has started several initiatives in this area. Read more...

NITI Aayog and ABB facilitate adoption of AI technologies by MSMEs

Aligned with the national objective of ‘AI for All’, a workshop was conducted to discuss various facets of AI based technology adoption across key sectors of the Indian economy Read more...

Power2SME signs MoU with IIA to strenghten MSMEs in India

The MoU will be valid for three years across IIA’s all 40 chapters pan India Read more...

Extending income tax exemption to MSMEs to be highly beneficial

The Government should introduce a long-term solution in the 2019 Budget that can save the credit-starved MSMEs from their dire state. Read more...

RBI’s move to provide a much-needed boost to MSMEs: Sandip Somany

RBI’s relief window for MSMEs together with other government measures for easier and affordable access to credit should help in reviving growth of MSMEs, say FICCI Read more...

Cooperation between Indian and Taiwanese MSMEs offers huge potential

India welcomes investment both in terms of technology transfers and FDI by Taiwanese companies in Indian SMEs, said Dr Arun Kumar Panda, Secretary MSME, at the India-Taiwan SME Development Forum Read more...

NSIC opens development centre for MSMEs in Bhubaneshwar

Dharampad Bhawan, which is NSIC’s largest office building in eastern India, will provide skill development and other support to various MSMEs including SC/ST MSMEs Read more...

Tata Technologies and VDIA to set up aerospace & defence centre in Nagpur

The partnership between Tata Technologies and Vidarbha Defence Industries Association (VDIA) will promote the state as an aerospace and defence manufacturing and export hub. Read more...

Capital availability a concern for MSMEs: Opinion Poll

While CII CEOs Opinion Poll said that investments and demand are set to grow strongly and capacity utilisation is building up, it raised some concerns on credit availability especially for MSMEs Read more...

Trade war, rising protectionism to hurt Indian MSMEs

Export-oriented industries, particularly in sectors like iron and steel, machinery and metal products, chemicals and agricultural goods, are likely to take a hit, says FICCI's Economic Outlook Survey Read more...

Easing norms for MSMEs in IBC to speedy up resolution: Rashesh Shah

According to FICCI President, while keeping errant promoters out of the bidding process for their companies is critical, it is also equally important to give a fair chance to the genuine promoters Read more...

Aye Finance disburses Rs 700 crores loans to MSMEs

The Gurgaon-based FinTech has disbursed 60,000 loans and emerged as a leading MSME lender in India. Read more...

YES Bank introduces an industry first GST backed OD facility for MSMEs through ‘YES GST’

YES Bank, India’s fourth largest private sector bank, announced the launch of ‘YES GST’, an OD (over draft) facility for Micro, Small and Medium Enterprises (MSMEs). Through this first-of-its-kind, industry first initiative, an MSME can avail OD up to Rs 10 million, based on their annual turnover, backed by GST returns. Read more...

Universal Robots Showcases ‘Cobots’ at AeroDef India 2018

Universal Robots showcased their products at AeroDef India 2018. The Expo was held at the Bombay Convention and Exhibition Centre, Goregaon from February 22 – 24, 2018. Universal Robots are the leading manufacturers of advanced user-friendly and light industrial robotic arms from Denmark. Their latest technological advancement is collaborative robots or ‘Cobots’ were introduced to the international market with a unique intention, which is in line with Industry 4.0. They have a wide market in the Read more...

North-East industrial development policy to incentivise MSMEs

In order to promote employment in the North East States and incentivise the MSME (micro, small & medium enterprises) sector, the Union Cabinet has approved the North East Industrial Development Scheme (NEIDS), 2017 with financial outlay of Rs 30 billion up to March, 2020. Read more...

Proposal to amend the classification of MSMEs gets green lit by the Union Cabinet

The Union Cabinet has approved the Ministry’s proposal to amend the Section 7 of the Micro, Small and Medium enterprises Development (MSMED) Act, 2006 to change the criteria of classification of MSMEs from ‘investment in plant & machinery/equipment’ to ‘annual turnover’ Read more...

Four banks join Invoicemart TReDS platform to facilitate MSME suppliers

Four leading banks - Standard Chartered Bank, Allahabad Bank, Vijaya Bank and Yes Bank, have joined the digital invoice discounting platform Invoicemart - promoted by A. TREDS Ltd (a joint venture between Axis Bank Ltd and B2B e-commerce company Mjunction Services Ltd). Read more...

YES Bank partners FTAPCCI to empower MSMEs to ‘scale-up’

YES Bank, India’s fourth largest private sector bank, launched a knowledge series on February 20, 2018 for top executives and promoters of micro, small and medium scale enterprises (MSMEs) in Hyderabad, in partnership with Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) to help local entrepreneurs scale their businesses to global audiences and gain competitive advantage. Read more...

Change in classification norms for MSMEs to boost growth

The Cabinet’s decision to change the criteria for classification of micro, small, and medium enterprises (MSMEs) from ‘investment in plant and machinery’ to ‘annual turnover’ is likely to give a boost to SMEs sector Read more...

Budget to give boost to MSMEs: IEEMA

Indian Electrical & Electronics Manufacturers' Association (IEEMA) has welcomed the Budget 2018-19 stating that it will give a boost SMEs and help create employment. Read more...

Here are the Union Budget 2018 goodies for the MSMEs

According to the National Sample Survey’s (NSS) 73rd round, there were around 634 trillion unincorporated non-agriculture MSMEs (micro, small and medium enterprises) in India in 2015-16 providing employment to 111 million workers. Taking into account the significance of MSMEs sector to the country’s economic development, a list of measures to help MSMEs and job creation were announced by Finance Minister Arun Jaitley while presenting the last full budget of the current government. Read more...

Paisalo launches app for easy loan disbursal to MSMEs

With a vision of empowering the MSME segment and small businesses, Paisalo Digital Limited has launched its app with the same name to accelerate and facilitate 100% digital loan disbursal, creating unique customer experience. Read more...

GST: A structural reform propelling India's growth story with greater compliance

With Goods and Services Tax (GST) becoming operational from July 1, 2017, the whole government machinery is working day & night to ensure smooth roll out and efficiency at every step. While there are no two opinions about the long term benefits of the one-tax regime, there are concerns being raised by the industry with respect to implementation and initial compliance issues. Let’s look at the positive side first. Read more...

MSMEs are likely to play a major role in the Machine Tools arena

Rajesh Khanna, Chief Executive, Wendt (India) Limited, shares his perspectives and industry updates on the machine tool sector in India. Read more...