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President's Message
" The recent RBI report on state of manufacturing during 2015-16 should make us sit-up and take a note. For the first time in seven years, the sales of manufactured goods have declined 3.7%. Obviously, the report captures data prior to demonetization. The situation has worsened post demonetisation. While Government did bring out policies like Make in India, their impact is not visible on ground as yet. We feel ‘Make in India’ cannot succeed in isolation and there are no shortcuts for improving the eco-system for manufacturing. We may need similar initiative and statesmanship by both center and states as has been visible on GST to ease regulations for starting, running and closing businesses.
Demonetisation has exacerbated many of these prevailing challenges. MSMEs’ access to banking and financial services is beset with a lot of difficulties in India. In RBI’s forthcoming Standing Advisory Committee we are going to raise the issue of BLR rating policy which is both unfair and unjust. It has adversely affected large number of members. Alongside Secretary MSME, we will push or its threshold limit to be raised to 50 crore and adoption of a rational criteria- which we are proposing, above the limit. We shall also demand relaxation in NPA norms especially after delays in payments due to demonetisation.
"
FISME in association with knowledge partners of R. K Reddy & Associates and SVRL & Co a leading auditors and chartered accountant firm organised seminar on GST “Making your Business GST Complaint” at Hyderabad on 25th February, 2017.
The objective of the seminar was to create awareness among MSMEs about new taxation regime and its compliance structure.
A detailed presentation was made on how GST implementation will affect the entire functioning of business. Mr. Praveen Kumar Reddy and Mrs. Kavita from SRVL & Co were the key resource persons of the seminar. Around 40 members from Industry and service sector attended the seminar.
A series of programmes has been scheduled across the country to create awareness among MSMEs on ZED (Zero Effect and Zero Defect) Certification process.
The third such programme was held at Hyderabad in association with REEDS on 28th February, 2017. Around 45 participants from the Industry attend the seminar.
Mr.R. V. Sudhakar, Director, Centre for Electronics Test Engineering is the resource person of the seminar. He has given detailed presentation on ZED certification processes and its benefits to the industry. Further, he also explained about the nature of assistance from Ministry of MSME for ZED certification
Faculty from QCI Mr. Amit Singh has also participated in the awareness programme.
In continuation of their joint efforts towards “Identifying implications of GST and facilitating adoption by MSMEs”, SIDBI the focal financial institutions for MSMEs and FISME, the leading federation of MSME Associations in India, organised a roundtable in the city today.
The round table was organized jointly with Vatva Industries Association, Ahmedabad, Gujarat. This was the 5th round table awareness building seminar on GST under the programme.
The Ministry of Micro, Small and Medium Enterprises (MoMSME) is planning to review the Public Procurement Policy. For this, the Ministry has roped in Federation of Indian Micro and Small & Medium Enterprises (FISME), an apex body for MSME associations in the country, to prepare a draft Public Procurement Policy.
MoMSME has asked FISME to seek feedback from stakeholders and associations and incorporate them in the draft policy.
You really need to know how to connect with people and work at it, especially if you’re an entrepreneur. After the bumble bees, my father started handing out heart pins to people he met and connected with. Once I was on a plane and saw a flight attendant with a heart pin on her lapel. I immediately knew it was from my dad. She had only met him that one time, but he made an indelible impression on her. She said he was the nicest person she had ever met. Perhaps this was his true legacy.
It is now time to dump a tired old assumption about India—that it has an economy closed to trade both within its territory as well as with the rest of the world. The reality is refreshingly different. India's trading both internally and externally like never before. Trade enriches countries because it extends the scope for efficient division of
Foreign direct investment (FDI) in India grew 18 per cent during 2016 to touch $46 billion, data released by the Department of Industrial Policy and Promotion (DIPP) showed.
The country attracted FDI of $39.32 billion in 2015.
The main sectors which attracted the highest foreign inflows include services, telecom, trading, computer hardware and software and automobile.
Bulk of the FDI came in from Singapore, Mauritius, the Netherlands and Japan.
SIDBI's Venture Capital Investment Committee (VCIC) has sanctioned Rs 300 crore to fund managers who would invest in startups, taking the total sanctions so far this fiscal to over Rs 1,100 crore.
SIDBI's VCIC comprises former Infosys CFO Mohandas Pai, former Nasscom chief Kiran Karnik, Indian Angel Network Founder Saurabh Srivastava, Founder of Info Edge Sanjeev Bikhchandani, among others, who had screened several proposals from VC last year.
The Central Board of Excise and Customs (CBEC) has launched a mobile application for Goods and Services Tax to keep the tax payers updated about the latest updates on GST among others.
The mobile application can be downloaded free of cost on Android platforms. The iOS version will be made available shortly.
Through the app, the taxpayers can readily access a host of GST information such as- Migration to GST-Approach and guidelines for migration;
The World Bank Group sees “leasing” as an important financing tool for Small and Medium Enterprises (SMEs) and wants policymakers in India to take steps to propel its growth in the country.
“Leasing is very sensitive to taxation and I understand the taxation rules were changed, and as a result, impacted growth of leasing in India,” said Simon C Bell, Global Head-SME Finance, World Bank Group, here on Wednesday.
There is a need for the banks for focussing separately on ‘micro’ customers from amongst the MSME segment, said RBI Governor SS Mundra adding that they generally lack adequate documentation, they fail to receive credit from the formal financial system.
Micro entities comprise a very ‘niche’ segment as these are mostly individual or family run businesses having very unique credit needs.
An estimate suggests that at present almost 93% of such units are outside the formal credit system.
In order to encourage MSMEs conduct business digitally, government has increased the cash credit limit for micro, small and medium enterprises (MSMEs) to 30 per cent of turnover from the existing 20 per cent, Minister of State for Finance Arjun Ram Meghwal said today.
While addressing at an event organized by Madras Management Association, Meghwal said, “We have taken the decision that the CC (cash credit) limit be increased to 30 per cent of turnover from existing 20 per cent."
The Ministry of Micro, Small and Medium Enterprises (MoMSME) is organizing an awareness programme on Energy Efficient Technology for MSMEs in West Bengal.
The event is being jointly organized by MSME DI Kolkata, Ministry of MSME and Federation of Small & Medium Industries, WB with technical support from Petroleum Conservation Research Association (PCRA), Ministry of Petroleum & Natural Gas, Government of India.
Making higher allocation towards sectors highly impacting common man such as education, youth, health, micro, small and medium enterprises (MSMEs) and infrastructure, Gujarat Budget offers a Rs 1000 crore special package for MSMEs in the state.
The state would go for Assembly Elections in December this year. Gujarat deputy chief minister Nitin Patel, who also holds the finance portfolio, delivered the state budget for 2017-18.
Recognizing the potential of MSME sector in creating jobs, Kerala Government has launched a project steering committee to closely monitor the timely completion of cluster development projects for micro, small and medium enterprises (MSMEs).
The committee is being headed by Additional Chief Secretary of Industries department Paul Antony.
The move is likely to create job opportunities and employ Kerallites returning from gulf countries.
In order to ensure that the investments announced during Momentum Jharkhand turns into reality, State Chief Minister Raghubar Das has announced a Jharkhand Investment Board (JIS) to fastrack the progress of MoUs.
The government signed a total of 210 MoUs worth `3.04 lakh crore during GIS, many of which was in the MSME sector.
The companies proposed major investments in sectors like mining, urban development, power, higher education and skill development. The investments are expected to generate at least six lakh jobs.
Keeping in view that the micro, small and medium enterprises (MSME) sector has its own challenged and issues, the Telangana Government should come up with a dedicated MSME policy, demanded Telangana Joint Action Committee (TJAC) chairman M Kodandaram.
He was addressing a conference held by All India Forum for Small and Medium Enterprises (AIFSME) on problems being faced by MSMEs in the state.
India and Germany have ratified the Social Security Agreement (SSA), which will come into force from May 1 this year, to help promote more investment flows between the two countries.
The SSA will also integrate the provisions of the 2008 social insurance pact that exempts detached workers of the two countries from making social security contributions in either countries so long as they were making such contributions in their respective countries.
West Bengal Government has sought Japanese help in developing industrial infrastructure by setting up a hub for micro, small and medium enterprises (MSMEs) in at least one of idle plots of Howrah Municipal Corporation (HMC) at Liluah and Belur. After the recently held Bengal Global Business Summit, Japan International Cooperation Agency (JICA) is likely to fund a Rs 2,000-crore industrial hub project either in Howrah where Howrah Municipal Corporation (HMC) has plots ready for handover, according to the website of All India Trinamool Congress.
The Union Cabinet on Wednesday approved for signing an agreement between India and Poland on cooperation in agriculture and allied sectors.
The agreement will cover exchange of information between the two countries on various aspects, including health of crops, as per the international trade requirements and threats posed by harmful organisms and diseases of crops, a government statement said.
Do you think the tax relief offered by Arun Jaitley to the individual taxpayer is enough to cushion the note ban blow?
According to the FISME Factor, 59 percent of Micro, Small & Medium Enterprises are of the opinion that the tax relief offered in the budget to the individual taxpayer is sufficient to cushion the note ban blow while 25 percent think otherwise.
Do you want to be a successful leader at your workplace? Learn the art of creating followership with people who work for you. Followership is the capacity of an individual to actively follow a leader and is the reciprocal social process of leadership.
Seven common mistakes that people make when taking a loan
Getting a loan from a bank can be tough, but the process can be simplified if you do not make some common mistakes. We tell you seven, frequent mistakes that people make while taking a loan.
Google and Facebook duopoly in the consumer attention and ad space
Seems like yesterday when digital evangelists were pleading the case for online advertising before marketers. These days, every morning you wake up to the news of either a search-based platform announcing self-driving cars (Google);
Day after FM show, tech companies, startups feel left out
Even though the Union Budget 2017-18 gave a lot of importance to boosting the digital economy, the technology companies and startups were a tad disappointed since several of their recommendations were left out.
How an unsuccessful attempt at Olympics and entrepreneurship led Deepinder Singh to start 75F
Minneapolis-based 75F makes building management solutions which they claim would make a building's heating, ventilation and air conditioning smarter, energy efficient and affordable. They launched their operations in India in 2016.
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 June 2016
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:
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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This Newsletter is edited by the FISME Secretariat. We welcome contributions as well as comments and suggestions. Please write to newsletter@fisme.org.in
" The recent RBI report on state of manufacturing during 2015-16 should make us sit-up and take a note. For the first time in seven years, the sales of manufactured goods have declined 3.7%. Obviously, the report captures data prior to demonetization. The situation has worsened post demonetisation. While Government did bring out policies like Make in India, their impact is not visible on ground as yet. We feel ‘Make in India’ cannot succeed in isolation and there are no shortcuts for improving the eco-system for manufacturing. We may need similar initiative and statesmanship by both center and states as has been visible on GST to ease regulations for starting, running and closing businesses. 
FISME in association with knowledge partners of R. K Reddy & Associates and SVRL & Co a leading auditors and chartered accountant firm organised seminar on GST “Making your Business GST Complaint” at Hyderabad on 25th February, 2017.
The objective of the seminar was to create awareness among MSMEs about new taxation regime and its compliance structure.
A detailed presentation was made on how GST implementation will affect the entire functioning of business. Mr. Praveen Kumar Reddy and Mrs. Kavita from SRVL & Co were the key resource persons of the seminar. Around 40 members from Industry and service sector attended the seminar.
A series of programmes has been scheduled across the country to create awareness among MSMEs on ZED (Zero Effect and Zero Defect) Certification process.
The third such programme was held at Hyderabad in association with REEDS on 28th February, 2017. Around 45 participants from the Industry attend the seminar.
Mr.R. V. Sudhakar, Director, Centre for Electronics Test Engineering is the resource person of the seminar. He has given detailed presentation on ZED certification processes and its benefits to the industry. Further, he also explained about the nature of assistance from Ministry of MSME for ZED certification
Faculty from QCI Mr. Amit Singh has also participated in the awareness programme.
In continuation of their joint efforts towards “Identifying implications of GST and facilitating adoption by MSMEs”, SIDBI the focal financial institutions for MSMEs and FISME, the leading federation of MSME Associations in India, organised a roundtable in the city today.
The round table was organized jointly with Vatva Industries Association, Ahmedabad, Gujarat. This was the 5th round table awareness building seminar on GST under the programme.
The Ministry of Micro, Small and Medium Enterprises (MoMSME) is planning to review the Public Procurement Policy. For this, the Ministry has roped in Federation of Indian Micro and Small & Medium Enterprises (FISME), an apex body for MSME associations in the country, to prepare a draft Public Procurement Policy.
MoMSME has asked FISME to seek feedback from stakeholders and associations and incorporate them in the draft policy.
You really need to know how to connect with people and work at it, especially if you’re an entrepreneur. After the bumble bees, my father started handing out heart pins to people he met and connected with. Once I was on a plane and saw a flight attendant with a heart pin on her lapel. I immediately knew it was from my dad. She had only met him that one time, but he made an indelible impression on her. She said he was the nicest person she had ever met. Perhaps this was his true legacy.
Foreign direct investment (FDI) in India grew 18 per cent during 2016 to touch $46 billion, data released by the Department of Industrial Policy and Promotion (DIPP) showed.
The country attracted FDI of $39.32 billion in 2015.
The main sectors which attracted the highest foreign inflows include services, telecom, trading, computer hardware and software and automobile.
Bulk of the FDI came in from Singapore, Mauritius, the Netherlands and Japan.
SIDBI's Venture Capital Investment Committee (VCIC) has sanctioned Rs 300 crore to fund managers who would invest in startups, taking the total sanctions so far this fiscal to over Rs 1,100 crore.
SIDBI's VCIC comprises former Infosys CFO Mohandas Pai, former Nasscom chief Kiran Karnik, Indian Angel Network Founder Saurabh Srivastava, Founder of Info Edge Sanjeev Bikhchandani, among others, who had screened several proposals from VC last year.
The Central Board of Excise and Customs (CBEC) has launched a mobile application for Goods and Services Tax to keep the tax payers updated about the latest updates on GST among others.
The mobile application can be downloaded free of cost on Android platforms. The iOS version will be made available shortly.
Through the app, the taxpayers can readily access a host of GST information such as- Migration to GST-Approach and guidelines for migration;
The World Bank Group sees “leasing” as an important financing tool for Small and Medium Enterprises (SMEs) and wants policymakers in India to take steps to propel its growth in the country.
“Leasing is very sensitive to taxation and I understand the taxation rules were changed, and as a result, impacted growth of leasing in India,” said Simon C Bell, Global Head-SME Finance, World Bank Group, here on Wednesday.
There is a need for the banks for focussing separately on ‘micro’ customers from amongst the MSME segment, said RBI Governor SS Mundra adding that they generally lack adequate documentation, they fail to receive credit from the formal financial system.
Micro entities comprise a very ‘niche’ segment as these are mostly individual or family run businesses having very unique credit needs.
An estimate suggests that at present almost 93% of such units are outside the formal credit system.
In order to encourage MSMEs conduct business digitally, government has increased the cash credit limit for micro, small and medium enterprises (MSMEs) to 30 per cent of turnover from the existing 20 per cent, Minister of State for Finance Arjun Ram Meghwal said today.
While addressing at an event organized by Madras Management Association, Meghwal said, “We have taken the decision that the CC (cash credit) limit be increased to 30 per cent of turnover from existing 20 per cent."
The Ministry of Micro, Small and Medium Enterprises (MoMSME) is organizing an awareness programme on Energy Efficient Technology for MSMEs in West Bengal.
The event is being jointly organized by MSME DI Kolkata, Ministry of MSME and Federation of Small & Medium Industries, WB with technical support from Petroleum Conservation Research Association (PCRA), Ministry of Petroleum & Natural Gas, Government of India.
Making higher allocation towards sectors highly impacting common man such as education, youth, health, micro, small and medium enterprises (MSMEs) and infrastructure, Gujarat Budget offers a Rs 1000 crore special package for MSMEs in the state.
The state would go for Assembly Elections in December this year. Gujarat deputy chief minister Nitin Patel, who also holds the finance portfolio, delivered the state budget for 2017-18.
Recognizing the potential of MSME sector in creating jobs, Kerala Government has launched a project steering committee to closely monitor the timely completion of cluster development projects for micro, small and medium enterprises (MSMEs).
The committee is being headed by Additional Chief Secretary of Industries department Paul Antony.
The move is likely to create job opportunities and employ Kerallites returning from gulf countries.
In order to ensure that the investments announced during Momentum Jharkhand turns into reality, State Chief Minister Raghubar Das has announced a Jharkhand Investment Board (JIS) to fastrack the progress of MoUs.
The government signed a total of 210 MoUs worth `3.04 lakh crore during GIS, many of which was in the MSME sector.
The companies proposed major investments in sectors like mining, urban development, power, higher education and skill development. The investments are expected to generate at least six lakh jobs.
Keeping in view that the micro, small and medium enterprises (MSME) sector has its own challenged and issues, the Telangana Government should come up with a dedicated MSME policy, demanded Telangana Joint Action Committee (TJAC) chairman M Kodandaram.
He was addressing a conference held by All India Forum for Small and Medium Enterprises (AIFSME) on problems being faced by MSMEs in the state.
India and Germany have ratified the Social Security Agreement (SSA), which will come into force from May 1 this year, to help promote more investment flows between the two countries.
The SSA will also integrate the provisions of the 2008 social insurance pact that exempts detached workers of the two countries from making social security contributions in either countries so long as they were making such contributions in their respective countries.
West Bengal Government has sought Japanese help in developing industrial infrastructure by setting up a hub for micro, small and medium enterprises (MSMEs) in at least one of idle plots of Howrah Municipal Corporation (HMC) at Liluah and Belur. After the recently held Bengal Global Business Summit, Japan International Cooperation Agency (JICA) is likely to fund a Rs 2,000-crore industrial hub project either in Howrah where Howrah Municipal Corporation (HMC) has plots ready for handover, according to the website of All India Trinamool Congress.
The Union Cabinet on Wednesday approved for signing an agreement between India and Poland on cooperation in agriculture and allied sectors.
The agreement will cover exchange of information between the two countries on various aspects, including health of crops, as per the international trade requirements and threats posed by harmful organisms and diseases of crops, a government statement said.
According to the FISME Factor, 59 percent of Micro, Small & Medium Enterprises are of the opinion that the tax relief offered in the budget to the individual taxpayer is sufficient to cushion the note ban blow while 25 percent think otherwise. 
Do you want to be a successful leader at your workplace? Learn the art of creating followership with people who work for you. Followership is the capacity of an individual to actively follow a leader and is the reciprocal social process of leadership.
Getting a loan from a bank can be tough, but the process can be simplified if you do not make some common mistakes. We tell you seven, frequent mistakes that people make while taking a loan.
Seems like yesterday when digital evangelists were pleading the case for online advertising before marketers. These days, every morning you wake up to the news of either a search-based platform announcing self-driving cars (Google);
Even though the Union Budget 2017-18 gave a lot of importance to boosting the digital economy, the technology companies and startups were a tad disappointed since several of their recommendations were left out.
Innovation is the bedrock of all businesses. As is rightly said, if a business does not innovate, it will evaporate over a period of time.
Minneapolis-based 75F makes building management solutions which they claim would make a building's heating, ventilation and air conditioning smarter, energy efficient and affordable. They launched their operations in India in 2016.
“ Too little confidence and you’re unable to act; too much confidence and you’re unable to hear. ”
