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  The FISME Factor  


President's Message
Dr. Sangam Kurade, President, FISME " By the time, this issue of FISME Factor reaches you, GST would have dawned in India. It is clear by now, we are beginning with, what Prof. Bibek Debroy described, an ‘imperfect GST’. Only time will tell, which choice would have been be better: waiting for a perfect GST for another decade or starting with an imperfect one. A big elephant is out of policy room and Government can focus now on other reforms especially in the Banking and the Labour sector. For businesses, GST is here and we have to deal with it. The challenge is that nobody is fully in the know: Government officials, Consultants or Experts. All are on learning curve. FISME will focus its energies how this learning curve could be shortened by MSMEs to minimize transitional pain. With SIDBI, we are launching the GST Guide, starting a toll-free helpline and creating an online support. I feel, it is time we quickly exchanged information about the problems we faced during implementation. We have to ‘crowd-source’ knowledge on gaps in GST processes and then help Government move to plug them. May I wish you all happy GST times."
Mr. Dinesh Chandra Tripathi, President, FISME
Vol V, Issue 134: July 1, 2017
FISME delegation visits Food Tai Pei 2017
Business Banter: Lessons from Entrepreneurs
Face your fears
Macro Metre
GST attracts $3.55 billion of foreign capital through FPIs to India in June
NCAER pegs FY'18 GDP growth at 7.6% on normal monsoon
Domestic Digest
Kalraj Mishra launches Digital MSME Scheme, exchanges MoUs with SAP India, Intel and HMT Knowledge and News Network (KNN)
Tea exports up 5.7% in first 4 months
DGFT relaxes norms for Bamboo exports from India
State Scan
NSE-AP Govt sign pact to facilitate MSMEs get listed Knowledge and News Network (KNN)
TIIC to disburse Rs 1800 cr loans to MSMEs under various schemes with 50% concession in processing fee
World Watch
India and Myanmar discuss deepening mgf ties, MoUs in health care and textiles
Cabinet approves MoU on cooperation in the textiles, clothing and fashion sectors between India and Australia
Knowledge Store
This 21-year-old is the No. 1 young entrepreneur in India, and will be felicitated by PM
...And A Lot More

FISME delegation visits Food Tai Pei 2017

A 10 member FISME trade delegation visited ‘Food Tie Pei’ 2017 trade show held from 27~30 June in Taiwan. The Taipei International Food Show or popularly known as Food Taipei held along with 4 other concurrent shows is one of the largest exhibitions in Taiwan in the food sector. Its 27tr edition showcased technologies for processing of Fruits & Vegetables, Poultry, Seafood, Meat, Edible Oils, Dairy Products, Organic and Vegetarian Food, Frozen Prepared Food, Canned Food, Baked Food, Biscuits, Wine & Liquor, Coffee & Tea, Juice & Soft Drinks, Ice cream etc.
Business Banter: Lessons from Entrepreneurs

Face your fears

So, when the client abruptly and without notice reduced my workload by half, I needed to make a choice. Now, as any owner of a startup will tell you, during those beginning “lean years” every penny that comes in counts. No matter how little overhead you might have, expenses exist regardless. My startup is no different. Parting with money is, therefore, something I never like to do. However, as we all well know (hopefully), not everything is about money. As a writer who gets paid for my craft, I will be the first to tell you that I went years without earning a penny. In fact, for a long time, I did much of what I do today entirely for free. It was how I gained experience, and I asked for most of the opportunities I received.
Writing on the Wall

Greater good

Benefits of GST essentially flow from the effects of a simplified tax structure, seamless tax credit facility, and technology-driven easy tax compliances systems. Here are the major benefits:

GST: A game changer for the Indian Economy

GST seeks to move away from a system in which tax is added on to the post-tax value of goods from the previous stage in the value chain, which has led to a compounding effect of tax-on-tax on commodities and services.

Media Monitor

Macro Metre

GST attracts $3.55 billion of foreign capital through FPIs to India in June

Foreign investors have pumped in a staggering $3.55 billion in the Indian capital market this month so far due to finalisation of GST rates for bulk of the items and forecast of a normal monsoon. Interestingly, most of the funds have been invested in debt markets by foreign portfolio investors (FPIs). "The differential spread between 10-year bond yields in the US and India is still around 4.5-5 per cent. This, coupled with stable outlook for the Indian currency bodes well for FPI flows into debt market," Sharekhan Head Advisory Hemang Jani said.

NCAER pegs FY'18 GDP growth at 7.6% on normal monsoon

Economic think-tank NCAER has revised up its projection for the country's economic growth to 7.6 per cent for the current fiscal, compared with the earlier prediction of 7.3 per cent on forecast of normal monsoon. In its quarterly review of the economy, NCAER said prospects for the agricultural sector in 2017-18 remain optimistic on forecast of good rains. Recent estimates show that foodgrain production in 2016- 17 has touched a new record of 273.4 million tonnes or 8.7 per cent higher as compared to last year.

Rice exports seen picking up on Bangladesh, Sri Lanka demand

Rice exporters see a pick-up in demand for the Indian cereal from Bangladesh as the recent floods in that country have impacted output and sent prices high. Also, a drought in Sri Lanka has resulted in improved demand for the finer varieties such as sona masuri, exporters said. Bangladesh recently floated three tenders to import about 1.5 lakh tonnes of white rice and par-boiled rice. A fourth tender is expected in July 1st week, trade sources said.

Domestic Digest

Sitharaman seeks views of Indian start-ups over holding SAARC country meet for start-ups

Commerce & Industry Minister Nirmala Sitharaman has sought views of Indian start-ups over holding a SAARC country meet for start-ups. While launching the Start-up India Hub portal here on Monday, Sitharaman revealed the plan to organize a meet of startups of the South Asian region for exchange of new ideas and promoting interaction among them. “I will be working towards having a SAARC (South Asian Association for Regional Cooperation) country meet for startups. There are so many complementarities among us in the South Asian region,” she said.

Kalraj Mishra launches Digital MSME Scheme, exchanges MoUs with SAP India, Intel and HMT

The Ministry of Micro, Small and Medium Enterprises (MoMSME) is celebrating the first UN MSME Day in the national capital today for recognize the importance of crucial role that the sector plays both in terms of job creation and contribution towards economic growth. MoMSME has organized a programme, underway currently, to felicitate the successful MSME entrepreneurs through National MSME Awards. During the event, Mishra launched Digital MSME Scheme and exchanged Memorandum of Understandings (MoUs) with SAP India, Intel and HMT.

Tea exports up 5.7% in first 4 months

Export of Indian teas increased by 5.7 per cent in the first four months of 2017 as other two major tea exporters – Kenya and Sri Lanka – struggled with erratic cropping patterns leading to supply side issues, said credit rating agency ICRA on Tuesday. The continuation of such a favourable export scenario going forward would have a positive impact on domestic prices as well, but cost pressures due to increase in wage rates, particularly in the Assam tea gardens, could keep margins in check, the agency said in a release.

DGFT relaxes norms for Bamboo exports from India

The Ministry of Commerce has permitted export of Muli Bamboo and bamboo products, with some exceptions, made from bamboo obtained from legal sources. The export of Muli Bamboo has been allowed till March 31, 2019. In a notification, Directorate General of Foreign Trade (DGFT) has said, “Export of Muli Bamboo till March 3, 2019, and bamboo products (except bamboo charcoal, bamboo pulp and unprocessed bamboo shoots), made from bamboo obtained from legal sources has been permitted.
State Scan

Andhra Pradesh    

NSE-AP Govt sign pact to facilitate MSMEs get listed

The National Stock Exchange (NSE) has entered into a pact with the Andhra Pradesh Government under which NSE would prepare the MSMEs in the state to tap the equity market and AP Government would facilitate MSMEs to get listed. Over 80 companies are listed on the NSE’s SME platform. Under the memorandum of understanding (MoU) the Andhra Pradesh government will facilitate MSMEs to get listed on the NSE Emerge platform by bearing the listing expenses.


Centre planning to set up Technology Centre for MSMEs in Tripura; fund to be released soon

Union Minister for Micro, Small and Medium Enterprise (MSME) Kalraj Mishra announced setting up of a Technology Centre for MSMEs in Tripura. Mishra on Sunday inaugurated a new building of MSME-DI and mini tool room in Agartala. He said the newly opened Centre will impart training for different enterprising activities and it will help the youths in setting various micro and small scale industrial units for self-reliant.


EEPC India opens Technology Centre in Bengaluru

EEPC India should effectively implement strategies for narrowing the gap between technology development and its commercialization and promotion in the international markets, Commerce Secretary Rita Teaotia said adding that this would help a wider segment of MSMEs. She said this could minimize their risks associated with investments in new technologies. EEPC India, the apex organisation of the country’s engineering exporters, today launched ‘EEPC India Technology Centre’ in Bengaluru. Inaugurating the Centre, Commerce Secretary Rita Teaotia stressed on the need for Indian engineering to shed its image of supplier of reverse engineering and emerge at the forefront of supplier of Innovation and Technologies.

Tamil Nadu    

TIIC to disburse Rs 1800 cr loans to MSMEs under various schemes with 50% concession in processing fee

Tamil Nadu Industrial Investment Corporation (TIIC) has plans to disburse loans under various schemes to the tune of Rs 1,800 crore for MSMEs across the State. Further to this, TIIC will also give 50 per cent concession on processing fee. Speaking at the side-lines of five-day MSME loan mela, T. Kirubakaran, General Manager, TIIC (Projects), said that the State-run financial corporation expects high turnout from MSMEs to avail of the loans under various schemes for which concession of 50 % will be available on processing fee.
World Watch


India and Myanmar discuss deepening mgf ties, MoUs in health care and textiles

During the 6th India – Myanmar Joint Trade Committee (JTC) Meeting several issues including exploring comprehensive MoUs in areas of Health Care and Textiles, deepening manufacturing capabilities and feasibilities of direct shipping lines were discussed. The meeting was co-chaired by Nirmala Sitharaman, Minister of Commerce & Industry and Dr. Than Myint, Union Commerce Minister from Myanmar. The Joint Trade Committee plays a key role in facilitating issues related to enhancement of the bilateral economic partnership between the two countries.
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South Korea    

Jaitley meets S Korea Deputy PM; both sides agree to boost bilateral trade

Union Finance Arun Jaitley, who is on a 4-day official visit to Seoul, Republic of Korea, met Deputy Prime Minister and the Finance Minister of the Republic of Korea, Kim Dong-yeon on Wednesday. Both sides agreed that in the face of uncertainty and the risk of rising protectionism, there was a need for the two countries to increase efforts to stimulate investment flows, support for infrastructure development, and bilateral trade among others. Jaitley co-chaired the Fifth India-Korea Financial Dialogue with newly-appointed Deputy Prime Minister Dong-yeon.
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Cabinet approves MoU on cooperation in the textiles, clothing and fashion sectors between India and Australia

The Union Cabinet has approved the Memorandum of Understanding (MoU) on cooperation in the textiles, clothing and fashion sectors between the Ministry of Textiles and the Department of Foreign Affairs and Trade, Australia. The MoU will facilitate cooperation in relation to matters within the textiles and fashion sectors that may be of mutual interest and benefit to the participants. The participants will jointly identify appropriate measures to connect the Australian and Indian textile and fashion sectors; promote collaboration and international engagement between those sectors; nurture the skills and talents within those sectors; promote economic opportunities and encourage professional engagement, training, skill development and public exhibition of products derived from these sectors in the two countries. However, Intellectual Property Rights of either side will stand protected.
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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

Hgh India

Date: 04-06 Jul 2017
Venue: Bombay Convention & Exhibition Centre, Mumbai
See Details

Pharmac South

Date: 07-08 Jul 2017
Venue: Chennai Trade Centre, Chennai
See Details

India Jewellery Show Baroda

Venue: 07-09 Jul 2017
Venue: Surya Palace Hotel, Vadodara
See Details


Date: 08-11 Jul 2017
Venue: Pragati Maidan, New Delhi
See Details


Venue: 07-10 Jul 2017
Venue: Dana Mandi, Bhanohad
See Details

Tyrexpo India

Date: 11-13 Jul 2017
Venue: Chennai Trade Centre, Chennai
See Details

Concrete Conference & Exhibitions on underground structures

Date: 14-15 Jul 2017
Venue: Hotel The Royal Plaza, New Delhi
See Details

Food & Technology Expos

Date: 14-16 Jul 2017
Venue: Pragati Maidan, New Delhi, India
See Details
Your Views

Will the prices rise after introduction of GST?

According to the FISME Factor, 100 percent of Micro, Small & Medium Enterprises agree with the opinion that price will rise after introduction of GST.
Knowledge Store

HR Heuristics

Helping your employees stay ahead of the curve

Every organization invests time and money to hire an individual. Starting from the expense to recruit and interview, to training new employees. When an employee resigns, an organization suffers a significant loss – financially as well as morally. Understanding the need of the employees, employers today have introduced various policies and programmes to retain their employees.

Finance Fundamentals

How startup CoinTribe is helping SMEs get loans quickly

Having spent most of their professional life in the banking and financial sector, Amit Sachdev, Rohit Lohia and Manish Chaudhari finally decided to start their own financial services company.

Marketing Mantras

Public Relations for Small Businesses

As a small business, you may not think you need to pay much attention to public relations. However, when it comes to branding, marketing and promoting your company, PR is one of the most important tools to help get you the right type of attention. According to Landor Associates, 45 percent of a brand's image can be attributed to what it says and how it says it.

Policy Polemic

All but gone with the wind: The unfolding sad story of India’s wind sector

If one wishes to see birth of a non-performing asset (NPA), wind power sector in India offers a ring-side view. No where can one see Murphy’s Law being vindicated more strongly than in this sector where everything that can go wrong has gone wrong.

SME Special

Startup Skillveri builds simulators to offer real-life environment training to people

The growing mismatch between the requirements of the employers and the skill sets of job seekers motivated Sabarinath C. Nair and Kannan Lakshminarayan— both engineers by training—to take up the challenge of skilling people.

Success Story

This 21-year-old is the No. 1 young entrepreneur in India, and will be felicitated by PM

In a small tea estate village named Hope Tea Garden in Jalpaiguri, a little boy was told not to bother dreaming if he planned on continuing to live in that hamlet. Little did they know that he was the boy who once travelled 108 km for school using three modes of transport, who believed in his roots and his own path, and knew that his skill will usher in his destiny, not his surroundings.


The National Sample Survey Office (NSSO), Ministry of Statistics and Programme Implementation released the report titled “Key Indicators of Unincorporated Non Agricultural Enterprises (Excluding Construction) in India’ based on the information collected under 73rd round of its survey conducted during July, 2015 to June, 2016 as a follow-up survey of the 6th Economic Census.

Quotable Quotes

“ What you get by achieving your goals is not as important as what you become by achieving your goals. ”
– Zig Ziglar-American author and motivational speaker
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

2 New Members Join FISME

During the period from 16th June to 30th June 2017 a total of 2 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: Simmi Nagpal
Types setting & websdesigning: Sanjay Sachan  
Video & Photography:  Vipul Kumar Chettry


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