FISME Newsletter - Vol V, Issue 132: June 1, 2017

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  The FISME Factor  

 

President's Message
Dr. Sangam Kurade, President, FISME " It was an honour for FISME to organize the first India Commonwealth SME Trade Summit in New Delhi. Welcoming the policy makers and delegates from scores of Commonwealth nations, I tried to attract their attention towards Trade Facilitation. It is an issue of critical importance for SMEs. Today, the biggest challenges that SMEs face while exporting are in the realm of non-tariff. The unavailability of relevant information required for clearance of goods, opaque procedures, technical standards and lack of MRAs among labs frustrates SMEs’ efforts for accessing new markets. While in many countries, institutional arrangements have been put in place following WTO Trade Facilitation Agreement, it continues to be an uphill task for SME exporters to leverage them for ironing out market access barriers in importing countries. FISME strongly advocated how the private sector led arrangement of cooperation could be facilitated to smooth market access and facilitate trade. The participating policy makers and SMEs discussed, debated and agreed upon a Framework of MSME Cooperation covering most of the issues we raised. The framework was adopted as declaration as the outcome of Summit. It was heartening for me personally and professionally to be part of the facilitative process. "
Mr. Dinesh Chandra Tripathi, President, FISME
Vol V, Issue 132: June 1, 2017
Activities
FISME organized 1st India Commonwealth SME Trade Summit in New Delhi
Business Banter: Lessons from Entrepreneurs
Build your personal brand as well as your company brand
Macro Metre
Govt approves Strategic Partnership Model in Defence
GST will help SMEs grow, put an end to tax corruption: GST Council Official
Domestic Digest
RBI had advised banks to review their existing lending policies to MSMEs: SS Mundra Knowledge and News Network (KNN)
Production of horticulture crops likely to touch 295 million tonnes
ADB-PNB sign $100 mn loan to finance solar rooftop systems on industrial and commercial buildings
State Scan
Odisha’s first Mega Food Park inaugurated; has facilities of fully operational industrial sheds for SMEs Knowledge and News Network (KNN)
Synergy Summit in WB’s Bankura district bags business proposals worth Rs 600 cr, 305 proposals from MSMEs
World Watch
World Bank announces $350 million program to support SMEs in Morocco
India-Africa relations can shape future of the world: Arun Jaitley
Knowledge Store
What sets Loan Frame apart in the $300B Indian SME lending market
...And A Lot More
Attn: All MSMEs
ESI and EPF amnesty scheme
A onetime window to employers to join ESI & EPF and regularize your records without reprimand on past non-compliance
Now extended to 30th June 2017
Activities

FISME organized 1st India Commonwealth SME Trade Summit in New Delhi

Commerce Secretary for Government of India Ms. Rita Teaotia and Deputy Secretary General of Commonwealth Mr. Deodat Maharaj jointly inaugurated the first India Commonwealth SME Trade Summit on 30th June 2017 in New Delhi. Secretary MSME Dr. K.K. Jalan presided over the concluding session wherein the Framework of MSME Cooperation was adopted. The Summit was jointly supported by Department of Commerce, Ministry of Commerce and industries, Government of India and the Commonwealth secretariat (London), Over 400 delegates from over 25 countries participated in the Trade Summit including senior officials from Commonwealth countries. Besides the highly sought after Business-to-Business meetings, three concurrent Forums were also held during the Summit. A high level policy dialogue Forum was addressed by five permanent Secretaries from Commonwealth countries. The Technology and Innovation Forum was organized by University of Nottingham and the Haydn Green Foundation (UK). Participating senior policy makers and leaders of SME associations and Chambers from the Commonwealth countries discussed and agreed to create Framework of MSME Cooperation within the Commonwealth. Besides the Secretaries of Commerce and MSME, the senior officials from Government of India who chaired or coordinated different sessions included Additional Secretary Commerce Mr. Anup Wadhavan, Additional Secretary & Development Commissioner MSME Mr. S N Tripathi, Joint Secretary Commerce Mr. Damu Ravi and Director Commerce Mr. Bipin Menon.
Business Banter: Lessons from Entrepreneurs

Build your personal brand as well as your company brand

As entrepreneurs, we all follow our own path. For some, the rise to financial success is a long, slow, painful process. For others, things just seem to magically fall into place. I believe that the latter isn’t a result of magic, however, but is the sure sign of an entrepreneur who understands the importance of learning from, adapting to and growing with their business.
Writing on the Wall

Modi government: The next two years

One of the reasons why growth has remained subdued in the last few years is the collapse in private sector investment. All efforts should be made to strengthen the corporate bond market in order to channelize long-term finance for Indian companies.

The next level of reforms should simplify laws in the land and labour markets, which will significantly improve the ease of doing business in the country.



Media Monitor

Macro Metre

GDP to accelerate by 0.75 pc in FY18, says CEA

NEW DELHI: Chief Economic Adviser Arvind Subramanian today said the GDP growth is expected to further pick up by 0.75 per cent this fiscal on the back of policy support including macroeconomic measures. "Overall, my sense is that the economy could do with all the policy support it could to bring it back to full potential, especially, all the macroeconomic instruments that should be deployed to get the economy back to its full potential," he said while reacting to subdued GDP number of 7.1 per cent for 2016-17.

Aye finance scoops $ 8 mn funding from Blue Orchard; aims financing MSMEs

Non-banking Finance Company (NBFC) Aye finance in a recent engagement with an International investment manager Blue Orchard, raised funds of 8 million dollars. These funds were raised through Non-Convertible Debentures with a maturity period of five years. Blue Orchard was formed under an initiative of the United Nations to manage microfinance debt investments worldwide. The company has extended funds of 8 million to Aye Finance.

Govt approves Strategic Partnership Model in Defence

The Union Cabinet has given its nod to the 'strategic partnership' model under which select private firms will be roped in to build military platforms like fighter jets, submarines and battle tanks. The policy will give a boost to defence manufacturing by private defence majors including leading foreign firms. After the cabinet meeting, Defence Minister Arun Jaitley said the government wants to implement at the earliest the new model which is aimed at production of major defence platforms and equipment by Indian companies in collaboration with leading foreign firms.

GST will help SMEs grow, put an end to tax corruption: GST Council Official

With a little more than a month remaining for the implementation of the Goods and Services Tax (GST) in the country, the GST council has indicated that under the new tax regime there is huge scope for the Micro, Small and Medium Enterprises (MSMEs) to grow further. Arun Goyal, Additional Secretary of the GST council in a lecture at India International Center made these remarks. He further informed that over a period of time, the GST council is looking towards reducing the number of tax slabs. Currently under the GST bill, there is 5 per cent, 12 per cent, 18 per cent and 28 per cent tax slab; this might be reduced to 1 or 2 tax slabs.

Domestic Digest

EY launches DigiGST to help businesses comply with GST

In a bid to help out Indian businesses floundering to comply with the Goods and Services Tax (GST), Ernst & Young (EY) has announced the launch of DigiGST - an integrated GSP-ASP (GST Suvidha Provider- Application Service Provider) solution that provides organisations with end-to-end GST compliance support. The company has hosted DigiGST on Microsoft Azure to ensure security to its clients. "The launch of GST is perhaps India's most significant and complex economic reform and technology will play a critical role in this transformation journey.

RBI had advised banks to review their existing lending policies to MSMEs: SS Mundra

With a view to provide timely financial support to MSMEs facing financial difficulties during their Life Cycle, RBI had advised the banks to review their existing lending policies and incorporating therein, among others, provisions for sanctioning of Standby Credit Facility in case of term loans, Additional Working Capital Limits, Mid Term Review of Regular Working Capital Limits, and Timelines for Credit Decisions, said SS Mundra, Deputy Governor, RBI.

India sugar output expected to jump on decent monsoon

India's 2017/18 sugar production will likely jump a quarter from the previous year to 25 million tonnes as decent monsoon rains are forecast, the head of an industry body told Reuters. That rebound in output to volumes near consumption levels could sap demand for imports from the world's biggest consumer of the sweetener, dragging on international prices that are already near their lowest in over a year.

Production of horticulture crops likely to touch 295 million tonnes

Production of horticulture crops such as fruit and vegetables have seen an increase over the previous year. The production is estimated at 295 million tonnes in 2016-17 crop year ending June, shows the second advance estimates released by the agriculture ministry on Tuesday. Compared to the previous year when production was 286.18 million tonnes, the harvest is 3.1% higher. It is also 2.7% higher over the first advance estimate issued in February largely due to rise in on ..

Fisheries sector expected to touch Rs 1.5 lakh crore by 2020: Assocham

Urging the government to double the outlay of Rs 3,000 crore for development and management of fisheries sector, apex industry body Assocham on Tuesday said that India could achieve about 16 million metric tonnes (MMT) of inland and marine fisheries’ production by 2019-20 thereby adopting a target oriented approach to achieve eight per cent growth year-on-year. “Aided by government’s efforts to bring systemic changes in processing sector, the domestic segment in raw and processed fisheries sector in value terms is expected to touch Rs 1.5 lakh crore by 2020 and total domestic retail market is forecast to cross Rs 61 lakh crore or almost triple in next 4-5 years,” noted a just-concluded Assocham study titled ‘Fisheries in India: Potential & prospects; Reference state – West Bengal.’

ADB-PNB sign $100 mn loan to finance solar rooftop systems on industrial and commercial buildings

The Asian Development Bank (ADB) and the Punjab National Bank (PNB) have signed a USD 100 million loan to finance large solar rooftop systems on industrial and commercial buildings throughout India. The loan will be guaranteed by the Government of India. PNB will use the ADB funds to make further loans to various developers and end users to install rooftop solar systems. This is the first tranche loan of the USD 500 million multi tranche finance facility Solar Rooftop Investment Program (SRIP) approved by ADB in 2016.
State Scan

West Bengal   

West Bengal government to utilise its unused land for fruit farms

West Bengal government has decided to utilise its unused land for setting up fruit farms. The project will start with a farm on 810 hectares unused piece of land, spread over Ranibandh, Raipur, Simlapal, Onda, Taldangra, Hirbandh and Indopur blocks of Bankura district. This is part of a mega project named as ’Horticulture Development in Paschimanchal Districts’. Five districts forming the western region of the state are part of this project – Bankura, Purulia, Paschim Medinipur, Birbhum and West Burdwan.

Odisha    

Odisha’s first Mega Food Park inaugurated; has facilities of fully operational industrial sheds for SMEs

Odisha’s first Mega Food Park, M/s MITS Mega Food Park Pvt Ltd, has been inaugurated today by Harsimrat Kaur Badal, Minister of Food Processing Industries at Rayagada. The food park has facilities of fully operational industrial sheds for SMEs along with developed industrial plots for lease to food processing units. This is the 7th Mega Food Park operationalized in the last 3 years by the present government.

Haryana    

Kalraj Mishra to flag off MSME Sammelan in Haryana

The Haryana Government has invited the Union Minister for Micro, Medium and Small Enterprise (MSME) Kalraj Mishra for the scheduled MSME Sammelan on 30th of May in the state of Haryana. The MSME Sammelan is expected to be on the lines of innovation in the MSME sector. The Sammelan is likely to feature exhibition of various achievements and advancements by the industrial units in Haryana. The MSME Sammelan is being organized under the theme “Small is the new big”.

West Bengal    

Synergy Summit in WB’s Bankura district bags business proposals worth Rs 600 cr, 305 proposals from MSMEs

The Bankura district administration in West Bengal has received investment proposals worth Rs 600 crore at the received investment proposals worth Rs 600 crore. According to All India Trinamool Congress (AITC) around 305 investment proposals came from micro, small and medium enterprises (MSMEs) and the other proposals were from large industries. MSMEs like bakeries, rice mills, mechanised stone-crushing units, small-scale units manufacturing agricultural tools and roofing tiles, poultry fodder-making, agro-servicing units, sal-leaf cup-and-plate manufacturing, automobile painting and many others are successfully running their trade in the district.

Uttarakhand    

Belgium to invest in Industries in Uttarakhand

The European country Belgium has recently expressed its interest to invest in the industries in the state of Uttarakhand. A delegation of Belgian trade counsellors led by Belgian Ambassador Jan Luykx recently met Chief Minister of Uttarakhand Trivendra Singh Rawat. During the talks the delegates have proposed investments in sectors including the herbal, food processing, aromatic plantation and spice sectors.
World Watch

Morocco    

India and Morocco call for closer cooperation in trade sectors

During the 5th India Morocco Joint Commission Meeting (JCM) held in Rabat on 25 and 26 May 2017, both countries intensified the strong bilateral relations and provided an impetus for closer cooperation between the two countries in the political, commercial, cultural, and trade sectors. Nirmala Sitharaman, Commerce and Industry Minister gave keynote address at the Industry Day of Morocco in Casablanca, organised by the Ministry of Industry, Investment, Trade and Digital Economy of the Government of the Kingdom of Morocco.
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China    

Indian exports to China rise sharply by 20% in first four months

After years of decline, Indian exports to China rose sharply in the first four months of this year registering a 20 per cent increase to $5.57 billion, though the trade deficit continued to persist. Indian exports received a major boost mainly due to China increasing the steel consumption by importing big quantity of iron ore as well as gems and diamonds besides cotton materials. The India-China trade grew by six per cent to $26.02 billion from January to April this year, according to the data of China's customs accessed by PTI.
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Africa    

India-Africa relations can shape future of the world: Arun Jaitley

India and Africa can partner and their strong relations can be instrumental in shaping the future of the world, Finance Minister Arun Jaitley said at the inaugural of the 5 day Annual meeting of the 1st African Development bank summit in Gandhinagar. The Minister further said that the India-Africa partnership model provides huge scope as the inter-dependence is voluntary without any imposition and compulsions. The relations between the two nations have progressed to whole another level.
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Sweden    

India-Sweden hold talks on cooperation in MSME sector at JCEC

The 18th Session of India-Sweden Joint Commission for Economic, Industrial and Scientific Cooperation (JCEC) took place recently in the national capital. The discussion focussed on various themes including the cooperation between the two countries in the MSME sector Nirmala Sitharaman, Commerce and Industry Minister represented the Indian delegation at the JCEC and Ann Linde, Minister for Trade and EU Affairs and Foreign Affair Minister headed the Swedish delegation during the meet.
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Upcoming Events
B2B Meetings with
Multisector delegation from Taiwan visiting New Delhi
Date: 8th June 2017| 9AM TO 5.30PM
FISME Delegation to:
Food Taipei 2017 – 27th Edition
(Taipei International Food Show – www.foodtaipei.com.tw)
Date: 20th – 24th June 2017
FISME’s official Twitter handle
@fisme
Knowledge and News Network (KNN)
KNN India’s official Twitter handle
@knnindia
Anil Bhardwaj, Secretary General
@abhardwaj_fisme
Other Events

Intec

Date: 01-05 Jun 2017
Venue: CODISSiA, Coimbatore
See Details

International Conference on Forestry Food and Sustainable Agriculture

Date: 04 Jun 2017
Venue: HOTEL MADHAV INTERNATIONAL, Pune, India
See Details

Total Agilent Experience

Date: 06-07 Jun 2017
Venue: Ramada Powai Hotel And Convention Centre, Mumbai
See Details

Motek India

Date: 08-10 Jun 2017
Venue: Bombay Convention & Exhibition Centre, Mumbai
See Details

Control India

Date: 08-10 Jun 2017
Venue: Bombay Convention & Exhibition Centre, Mumbai
See Details

Hyderabad Jewellery Pearl & Gem Fair

Date: 09-11 Jun 2017
Venue: Novotel Hyderabad Convention Centre, Hyderabad
See Details

Organic & Ayurveda Expo

Date: 09-11 Jun 2017
Venue: Chennai Trade Centre, Chennai
See Details
Your Views

Are SMEs ready for GST?

According to the FISME Factor, 100 percent of Micro, Small & Medium Enterprises (SMEs) are ready for GST.
Knowledge Store

HR Heuristics

Ethical and Innovative HR Practices

The concept of human resource management (HRM) and human resource development (HRM/HRD) is an organized learning experience aimed at matching the organizational need for human resource (HR) with the individual need for career growth and development. It is a system and process involving organized series of learning the activities designed to produce behavioural changes in human beings in such a way that they acquire desired level of competence for present as well as future role.

Finance Fundamentals

What sets Loan Frame apart in the $300B Indian SME lending market

While the success of India’s demonetisation is being debated across both commercial and political corridors of power, there hasn’t been a better time for financial firms in the lending market. The surplus liquidity of cash in bank coffers has caused even banks to announce rate cuts on the loans provided.

Marketing Mantras

10 Important Tips for B2B Marketing Success for Small Businesses in India

Lead generation through effective B2B marketing is very important to stay competitive in the market. If you are not able to getting business leads through your marketing efforts, it means it will become problematic for your business as no revenue will come sooner or later.You may be familiar about how difficult it has been to market your services and products by using available sources smartly.

Policy Polemic

MSMEs in northeast continue to suffer post discontinuation of NEIIPP, all eyes at PM Modi’s upcoming state visit

TThe North East Industrial and Investment Promotion Policy (NEIIPP) which was revoked have caused a great loss to the industrial growth in the North Eastern States. While there have been talks of brining a new policy, the industry says with no policy in place, the state is already suffering.

SME Special

How this startup is redefining the way we save and invest

Saving and investing can be a daunting task for most. But what if you could save effortlessly, like while watching your favourite football team win or walking those 10,000 steps a day? For IIT Kanpur alumni Ankit Kumar and Abhishek Malik, the answer to that question was a startup, though it wasn’t their first. While Ankit holds a master’s degree in design, Abhishek graduated with a degree in economics.

Success Story

This man will quit his job today to innovate 24×7 and smash problems for a living

Every day for the past few years, Gyan Kesarwani kept one foot in the past, deriving an insatiable drive from the financially trying times he encountered. With his other foot in the future, he was innovating swiftly to usher in the next generation of technology, while keeping his day job as an educator for budding techies.

Stockpile

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, has released the Provisional estimates of national income for the financial year 2016-17 and quarterly estimates of Gross Domestic Product (GDP) for the fourth quarter (January-March) of 2016-17, both at constant (2011-12) and current prices.

Quotable Quotes

“ Non-violence leads to the highest ethics, which is the goal of all evolution. Until we stop harming all other living beings, we are still savages. ”
– Thomas Alva Edison - American inventor and businessman
 
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

3 New Members Join FISME

During the period from 15th May to 1st June 2017 a total of 3 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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Opportunities
Editorial Team:
Hon. Editor: Anil Bhardwaj
Asstt. Editor: Simmi Nagpal
Types setting & websdesigning: Sanjay Sachan  
Video & Photography:  Vipul Kumar Chettry

 

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