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  The FISME Factor  


President's Message
Dr. Sangam Kurade, President, FISME " With an elephant sized issue, GST, out of the room, the gaze of the Government is now turning to long pending reforms especially those related to labour laws. The Cabinet has already cleared a uniform Wage bill. There is traction in other labour legislation too. Though it is early days, yet the emerging trends are worrying for employers. The paid Maternity leaves for women employees have been increased from 12 weeks to 26 weeks. Secondly, the minimum wage bill talks of a national threshold of minimum wages. The states can hike it further, over and above the central threshold, if they wish so! All such measures will increase cost of employing and will act as a deterrent in hiring more people. In a country which requires to generate 12 Mn (1.2 Crore ) jobs every year it is a suicidal policy. Further, interference of the State in labour markets is likely to make markets more inefficient. The impact of these actions will be malignant on competitiveness of industry which is facing enormous global competition to survive. Though, against the popular political belief, we need to bring home the point that we need to create sustainable employment which is only possible when labour markets function efficiently. "
Mr. Dinesh Chandra Tripathi, President, FISME
Vol V, Issue 137: August 15, 2017
FISME delegation meets Dr. Arun Kumar Panda Secretary, MSME
Business Banter: Lessons from Entrepreneurs
Next gen entrepreneurs, the world changed when you weren’t looking
Macro Metre
Govt hikes import duty on crude, palm oil to boost local prices
India Inc records highest sales growth in five quarters of 5.6% year-on-year
Anti-dumping duty on 93 products from China: Nirmala Sitharaman
Domestic Digest
Allahabad Bank to raise Rs 2000 crore capital; to focus on MSME-Agriculture Knowledge and News Network (KNN)
Lendingkart Finance raises USD 10 million as fund, aims at accelerating credit to SMEs
State Scan
MSMEs in Punjab seek GST exemption on unorganized work sector, State govt. to take matter with GST council Knowledge and News Network (KNN)
Gujarat Govt to grant Rs 730 crore to MSMEs; aims reducing number of sick units
World Watch
India–US to co-host Global Entrepreneurship Summit in Hyderabad
World Food India to kick off in Dubai, aims at sourcing investment, entrepreneurship
Knowledge Store
Electrocraft Industries is helping SMEs manufacture better with quality components
...And A Lot More

FISME delegation meets Dr. Arun Kumar Panda Secretary, MSME

FISME delegation request Dr. Arun Kumar Panda Secretary, MSME for a fair share of MSMEs in public procurement A high level delegation from FISME led by Mr. V K Agarwal, Past President, called to Dr. Arun Kumar panda, who has recently taken over as the Secretary in the Ministry of MSME. During the visit, the delegation briefed the Secretary about the activities of FISME and also requested his immediate attention to a couple of policy issues stifling the growth of the MSME sector. Secretary MSME was informed about capturing of Government procurements by the multi- nationals in the name of make in India. He was requested by the delegation to advise the authorities concerned to treat MSMEs making quality items with foreign know how as equally eligible for supply to Government. Dr. Panda, agreed that MSMEs need better support policies for getting a fair share in public procurement and agreed to Chair a session with the stakeholders to discuss the bottlenecks. He also agreed to set up a specialised Desk in the Ministry to address grievances of MSMEs related to public procurement.
Business Banter: Lessons from Entrepreneurs

Next gen entrepreneurs, the world changed when you weren’t looking

In recent years, Indians have got on the entrepreneurship bandwagon in very large numbers. From bringing an idea to life to being your own boss, there are many motivations. One of them is the need for the Indian youth to create their own jobs. With a staggering 65 percent of the population is under the age of 35 and explosive statistics around the adoption of smart phone and broadband, it is the youth that is truly driving this era of entrepreneurship in the country.
Writing on the Wall

Gains Indian economy's dual trouble

Over three years into the Narendra Modi government, the economy presents a strange paradox. On the one hand is a positive sentiment that springs from overall macro-economic stability and fiscal discipline that the government has managed to bring about, although aided so far by low crude oil prices. That sentiment has had a rub off on the country's bourses, which are trading at all time highs. However, at the other end of the spectrum, the general public, by and large, remain concerned with the twin troubles that have come to dog the Modi government - creation of jobs, and rise in prices of essential commodities.

Media Monitor

Macro Metre

Govt hikes import duty on crude, palm oil to boost local prices

The government on Friday hiked the import duty on crude palm oil to 15 per cent from 7.5 per cent and on refined to 25 per cent from 15 per cent to curb cheaper shipments and boost local prices for supporting domestic farmers and refiners. The import duties on other crude edible oils like soya and sunflower have been raised to 17.5 per cent from 12.5 per cent, according to a notification issued by the Central Board of Excise and Customs (CBEC).

India Inc records highest sales growth in five quarters of 5.6% year-on-year

India Inc reported a revival in year-on-year sales growth in the June quarter albeit amid pressure on profits and profitability. The trend is expected to continue since the next two quarters will reflect gradual stability in business after the implementation of the goods and services tax (GST) on July 1 and expected higher demand due to the festival season and a good monsoon. However, firm input costs including those of raw materials and staff as a percentage of sales, along with a rising interest burden relative to operating profit may affect profitability.

Gems & jewellery Q1 exports rise 4%

Gems and jewellery exports grew by about 4 per cent to USD 9.17 billion during the first quarter of the current fiscal, driven largely by demand in major markets like the US. In the April-June quarter of last financial year, the sector's exports aggregated to USD 8.84 billion, according to the data from Gems and Jewellery Export Promotion Council (GJEPC). The labour intensive sector contributes about 14 per cent to the country's overall exports.

Anti-dumping duty on 93 products from China: Nirmala Sitharaman

Commerce and industry minister Nirmala Sitharaman on Wednesday said anti-dumping duty is in force on 93 products imported from China These products fall in the broad groups of chemicals and petrochemicals, products of steel and other metals, fibres and yarn, machinery items, rubber or plastic products, electric and electronic items and consumer goods, among others. “In addition, 40 cases concerning imports from China have been initiated by Directorate General of Anti-Dumping and Allied Duties,” she told Rajya Sabha in a written reply.

Domestic Digest

Allahabad Bank to raise Rs 2000 crore capital; to focus on MSME-Agriculture

In a bid to extend credit to the Micro, Small and Medium Enterprises (MSMEs), Allahabad Bank announced its target of raising over Rs 2000 crores in the current fiscal. The bank’s credit book will focus primarily on the MSME sector and agriculture. Usha Ananthasubramaniam, MD and CEO of Allahabad Bank in a press interview said that the bank intends to focus on retail loans along with the MSME sector and the agriculture to boost its growth.

MSME Ministry approves 54 NSQF courses conducted by Indo German Tool Room

The Ministry of Micro, Small and Medium Enterprises announced approval 54 NSQF aligned courses that are being conducted in association with Ministry of Rural Development and Indo German Tool room (IGTR). The Ministry informed that these courses are recognized as valid skill development courses under the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY). The assessment for the courses will be undertaken by the MSME Technology Centre under the Ministry of Micro, Small and Medium Enterprise.

Lendingkart Finance raises USD 10 million as fund, aims at accelerating credit to SMEs

The finance firm Lendingkart in a recent collaboration with Kotak Mahindra Bank, Aditya Birla Financial Services and other institutions has raised 10 million dollars as fund for extending credit to its clients. With the fresh funds, Lendingkart aims at widening its credit base to the Small and Medium Enterprises (SMEs) in the country. CEO and Co-Founder of Lendingkart, Harshvardhan Lunia, in a press interaction informed that the main focus of his organization is to enable a financially inclusive environment for the SMEs in the country.

Khadi Institutions mandated to obtain registration under GST, pay GST @ 5%

Khadi Institutions are now mandated to obtain registration under GST and also pay GST on various Khadi products which is 5%, Ministry of MSME has said. The Ministry has welcomed the introduction of GST and said, “The entire Khadi & Village Industries (KVI) sector has been enjoying the benefit of tax exemption even under the pre-independence era.” With the exemption to the SSI sector being drastically reduced from the existing Rs.150 lakh to Rs.20 lakh, the exemption cover enjoyed by many of the Khadi Institutions (KIs) has been removed, Minister of State for MSME, Giriraj Singh said in a written reply to a question in Rajya Sabha.
State Scan


Odisha to issue revised notices to miners found guilty of over production

The Odisha government has decided to send fresh demand notices to miners held guilty of excess production of minerals after the Supreme Court order on rampant illegal mining in the state. The fresh notices are expected to be dispatched to the errant mining companies in phases in 10 days. For production beyond the limits approved under environment clearance (EC), the state government will go by the calculation of the apex court appointed a central empowered committee (CEC).

Facebook collaborates with Odisha Govt to train 25,000 MSMEs-SHG by 2019

Eyeing at accelerating entrepreneurship in the region, the social media giant Facebook has signed a pact with the Odisha Government to educate over 25, 000 Micro, Small and Medium Enterprises (MSMEs) and Self Help Groups (SHGs). The collaboration aims to help the MSME sector as well as the SHGs in the state of Odisha go digital. Facebook will conduct training program and workshops to enable the entrepreneurs to sell their products online. Also the program will assist the MSMEs and the SHGs in expanding their customer base by deploying their products online


MSMEs in Punjab seek GST exemption on unorganized work sector, State govt. to take matter with GST council

The Micro, Small and Medium Enterprises (MSMEs) in Punjab are seeking exemption for the unorganized work sector, responding to which the State government has assured taking the matter with the GST council in the upcoming GST Council meeting. Talking to KNN, Sanjay Bhatia, Joint Secretary of Chamber of Industrial and Commercial Undertakings (CICU) explained the situation. He said that the firms that fall under the non-excise units are facing a lot of problems because of the GST on the work force.


Gujarat Govt to grant Rs 730 crore to MSMEs; aims reducing number of sick units

Responding to the credit request of the Micro, Small and Medium Enterprises (MSMEs) in the state of Gujarat, the state government has decided to extend funds of over Rs 730 crores to the sector. The amount will be extended to over 16,000 MSME units in the state in the form of capital incentives. M.K Das, Principal Secretary, Industries and Mines Department in a press interview informed about the decision.
World Watch

United State of America    

India–US to co-host Global Entrepreneurship Summit in Hyderabad

India and the United States of America will be co-hosting the Global Entrepreneurship Summit (GES) that is to be organized in Hyderabad. The International Summit is scheduled will kick off on 28thNovember and continue till 30th November. Commenting upon the significance of the summit, Prime Minister Narendra Modi said that the event is a unique opportunity for bringing together entrepreneurs and startups with global leaders.
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World Food India to kick off in Dubai, aims at sourcing investment, entrepreneurship

Aiming at directing flow of investment in food processing sector of the country, Ministry of Food Processing Industries (MoFPI) is organizing World Food India road show in Dubai, United Arab Emirates. The Indian delegation for World Food India will be headed by Sadhvi Niranjan Jyoti, Minister of State, Ministry of Food Processing Industries. The event is being seen as an important step towards strengthening of the bilateral economic relationship between India and UAE, especially with special focus on the food processing sector.
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FISME’s official Twitter handle
Knowledge and News Network (KNN)
KNN India’s official Twitter handle
Anil Bhardwaj, Secretary General
Other Events

International Conference on Industrial Electronics and Electrical Engineering

Date: 17 Aug 2017
Venue: Fortune Select Grand Ridge, Tirupati
See Details

Business Opportunities Show Jamshedpur

Date: 18 Aug 2017
Venue: Ramada Jamshedpur, Jamshedpur
See Details

Think Odisha

Date: 18 Aug 2017
Venue: Mumbai
See Details

International Conference on Electrical Electronics & Communication Engineering

Date: 19 Aug 2017
Venue: Trinity Isle, Bengaluru
See Details

Goa Food & Hospitality Expo

Date: 17-19 Aug 2017
Venue: empo Trade Centre, Panjim
See Details

Print Expo Chennai

Date: 18-20 Aug 2017
Venue: Chennai Trade Centre, Chennai
See Details

Footwear India Expo

Date: 18-20 Aug 2017
Venue: D.D.A Ground, New Delhi
See Details

SportEx India

Date: 18-20 Aug 2017
Venue: Hitex Exhibition Center, Hyderabad
See Details

Auto Electric Expo

Date: 18-20 Aug 2017
Venue: Pragati Maidan, New Delhi
See Details
Your Views

How has been your experience of working with GST so far?

According to the FISME Factor, 54.5 percent of Micro, Small & Medium Enterprises have a good experience of working with GST, 18.2 percent feel they have a bad experience while 27.3 percent can’t say.
Knowledge Store

HR Heuristics

The loopholes in employee verification systems

Safeguarding one’s interests is a natural tendency that all living beings are born with. From single- cell organisms to humans, each one has one or the other innate reflex for defence against potential harm. Why should then organisations look at it as a mere tick in the box, while hiring employees?

Finance Fundamentals

Struggling to raise money? AI-powered bank loans from Loan Frame can help

Rising non-performing assets (NPAs), overleveraged large companies and the general unwillingness of banks to lend money has meant small businesses are now finding it next to impossible to raise money. As loan portfolios sour, banks do not want to take the risk of lending to an SME.

Marketing Mantras

Cost-effective digital advertising methods that every brand must adopt

The best advertising strategy is one that helps the advertiser in delivering the message to a maximum number of people at a minimum cost. That is why from startup companies to large corporates; digital advertising is the first choice of smart businesses all over the world.

Policy Polemic

Delay in power connections haunting MSMEs in Jammu & Kashmir: BBIA

The Micro, Small and Medium Enterprises (MSMEs) in Jammu and Kashmir continue to face problems in obtaining a power connection, because of which the sector is suffering, Bari Brahamana Industries Association (BBIA) informed.

SME Special

The story of Bangalore based startup accelerator Appy Hours

Appy Hours is a startup accelerator program by Appiness Interactive. They are a Product Development Accelerator, one of the very few around. The Appy Hours team works with startups in the early stages to develop their Minimum Lovable Product (MLP).

Success Story

Electrocraft Industries is helping SMEs manufacture better with quality components

Travel to any of the 100 industrial clusters across India and SME owners will tell you one thing: “There is a paucity of capital and lack of technology that can make us competitive.”


The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, has released the Consumer Price Index Numbers on Base 2012=100 For Rural, Urban and Combined for the month Of July 2017

Quotable Quotes

“ Chase the vision, not the money, the money will end up following you. ”
– Tony Hsieh- an American internet entrepreneur and venture capitalist
Country Chronicles
FISME regularly receives monthly reports on the economies of various countries from their missions in India. These reports provide information on key economic parameters, trade related information and all news relevant for importers and exporters. In this edition you can take a look at reports on:
Starting a New Venture
Coming August, K J Somaiya Institute of Management Studies and Research located in Vidyavihar, Mumbai is launching a certificate programme on Creating New Ventures.
New Members

1 New Member Join FISME

During the period from 1st August to 15th August 2017 a total of 1 new MSME became members of FISME
Reader Reactions

Write and Win prize!

Write your comments on the FISME Factor. Share your views and suggestions on MSME issues. Win prize! The best mail will get a special book every fortnight.
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Editorial Team:
Hon. Editor: Anil Bhardwaj
Asstt. Editor: Kalpana Sharma
Types setting & websdesigning: Sanjay Sachan  
Video & Photography:  Vipul Kumar Chettry


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