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  The FISME Factor  

 

President's Message
Dr. Sangam Kurade, President, FISME "As the luck would have it, my first official meeting after taking over as President of FISME, has been the meeting of National Board for MSMEs. The board discussed the need for amending the MSMED Act and also the Public Procurement Policy for MSEs. FISME sought urgent attention of the house on three issues: need to popularize the ESI and EPF amnesty scheme which has been extended till 30th June 2017. Secondly, amending the definition of MSMEs and basing it on twin criteria of turnover and number of employees. And thirdly, aggressively pushing for labour reforms bring compliance cost down for MSMEs as with GST and digital push neither the number of employees could be hidden nor sustained on payroll. I call upon all of my colleagues in MSME associations to focus on Labour laws and push for reforms needed. "
Mr. Dinesh Chandra Tripathi, President, FISME
Vol V, Issue 130: May 1, 2017
Activities
FISME President participates in the 15th meeting of the National Board for MSMEs
Business Banter: Lessons from Entrepreneurs
Failure has more benefits than you think
Macro Metre
Finance Ministry comes out with FAQs on GST
GST council has taken cognizance of the demand of MSMEs regarding the new tax policy: Venkaiah Naidu to KNN
Domestic Digest
National Board needs to take up the effects of GST on MSMEs Knowledge and News Network (KNN)
Working to cut patent examination time to 18 months: Nirmala Sitharaman
Government encourages self-registration for GST
State Scan
OP Dhankar, Haryana agriculture minister exhorts farmers to earn one-lakh per acre Knowledge and News Network (KNN)
Telangana Industrial health Clinic to be launched soon to rescue ‘sick’ MSMEs
World Watch
FISME to take MSME delegation to Food Taipei in June; buyers from more than 100 countries to take part
India, Sri Lanka ink pact for economic cooperation
Knowledge Store
SAP launches solution to help SMEs become GST compliant
...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 President participates in the 15th meeting of the National Board for MSMEs

15th Meeting of the national MSME Board, the apex policy making forum for the MSME sector, was held on 27th April, 2017 at Vigyan Bhawan, New Delhi. Mr. Dinesh Chandra Tripathi, President FISME was invited to attend the meeting, which was Chaired by Mr. Kalraj Mishra, Minister for MSME. Deputy Ministers of the Ministry of MSME, Secretaries of Ministries concerned and senior officers from RBI, SIDBI and Chambers and Associations representing the sector participated in the meeting. During the meeting, two mobile apps - ‘MyMSME’ and ‘MSE Facilitation Council’s portal were launched by senior Union Minister Mr. Venkaiah Naidu.. Some of the issues high on the agenda were: implementation of Framework for Revival and Rehabilitation of MSMEs; Setting up of Finance Facilitation Centres and online portal for MSE facilitation centres. The Board have other agendas also like redefining the MSME sector, ensuring share for MSMEs in Government procurement, revising the MSMED Act, 2006 etc. Expressing his strong reservation on the Meeting agenda, Dinesh Singhal, a noted MSME leader of UP and Chairman of FISME’s Committee on Labour and Employment, mentioned, “MSMEs are the largest employer after agriculture and only hope for the 1 crore youth joining the job market every year. How the Board can overlook the labour law related challenges the MSMEs facing?” Singhal expressed. Commenting on the deliberations held at the meeting, FISME President Dinesh Chandra Tripathi opined that crucial issues like defining MSMEs on the basis of turnover and number of workers and liberalising the labour laws, were not taken up at the meeting.
Business Banter: Lessons from Entrepreneurs

Failure has more benefits than you think.

As entrepreneurs, we’re constantly hearing the phrase “embrace failure.” And it usually is followed by the sentiment that we’re all human, everyone makes mistakes, and we shouldn’t beat ourselves up over it. But failure actually has more benefits than simply feeling better about our shortcomings. That’s right. Not only does failure present an opportunity to learn from your mistakes – it is acknowledged by business professionals that those mistakes will lead to better choices the second time around. It’s quite possible you’ll have an easier time getting the ball rolling on a new project after you have failed.
Writing on the Wall

NITI Aayog’s Three Year Action Agenda
(2017-18 to 2019-20)

The NITI (National Institution for Transforming India) Aayog has proposed a three year action agenda to guide the arms of government from 2017-18 to 2019-20. With the demise of Planning Commission and conclusion of 12th Five Year Plan (2012-17), NITI Aayog’s Action Agenda will be the sole compass available to the policy makers including for economic ministries …



Media Monitor

Macro Metre

Finance Ministry comes out with FAQs on GST

The Ministry of Finance has come out with FAQs on Goods & Services Tax. GST aims to make India a common market with common tax rates and procedures and remove the economic barriers thus paving the way for an integrated economy at the national level. By subsuming most of the Central and State taxes into a single tax and by allowing a set-off of prior-stage taxes for the transactions across the entire value chain, it would mitigate the ill effects of cascading, improve competitiveness and improve liquidity of the businesses.

GST council has taken cognizance of the demand of MSMEs regarding the new tax policy: Venkaiah Naidu to KNN

As the GST is all set to roll out for its implementation from July 1, 2017, the MSME bodies are approaching the government to extend the implementation date so that the MSMEs can be ready to adapt to the new tax regime. Venkaiah Naidu, Union Minister of Urban Development spoke to KNN over the concerns raised by the MSME bodies that almost 70 per cent of the small sector is not yet GST ready and concerns over new clauses such as the mandatory eWay bills.

India eyes at Industrial Revolution 4.0; huge opportunities for high-tech mfg, SMEs: Commerce Ministry

India’s service sector must buckle up to take advantage of the Industrial Revolution 4.0 which is expected to bring in huge opportunities for the high-tech manufacturing sector, Commerce & Industries Minister Nirmala Sitharaman has said. The minister said that the next level of industrial revolution includes use of robotics, artificial intelligence and increasing digitisation. She said this at the inaugural session of the four day long Global Exhibition of Services that is expected to have more than 550 participants from over 73 countries.

Domestic Digest

MSMEs look forward to the National Board Meeting for a paradigm Shift in MSME Policy

The 15th Meeting of the National Board of MSME, being held today, will take up several key issues crucial for the sector and crying for policy intervention for quite some time. Some of the issues high on the agenda are: implementation of Framework for Revival and Rehabilitation of MSMEs; Setting up of Finance Facilitation Centres and online portal for MSE facilitation centres. The Board have other agendas also like redefining the MSME sector, ensuring share for MSMEs in Government procurement, revising the MSMED Act, 2006 etc.

National Board needs to take up the effects of GST on MSMEs

The meeting of the National Board for the micro, Small and medium sector, the highest policy making body for the 4 crore plus MSMEs, is going to be held on 27th April, 2017 at Vigyan Bhawan, New Delhi. While the agenda proposes to take up a large number of issues important for the growth of the sector, GST is conspicuously absent in the agenda. Termed as the real game changer of the Indian economy since independence, GST is expected to be in force from 1st June, 2017, just a month after. However, the issues of capacity building and handholding of particularly the enterprises in the informal sector remain unaddressed.

Working to cut patent examination time to 18 months: Nirmala Sitharaman

The government is taking steps, including hiring more manpower, to reduce the patent application examination time to 18 months by March next year. At present, it takes about 48 months for the first stage of examination of a patent application. The ministry is continuously working on simplification of rules and reducing the patent examination time, Commerce and Industry Minister Nirmala Sitharaman said here.
State Scan

Haryana    

OP Dhankar, Haryana agriculture minister exhorts farmers to earn one-lakh per acre

Haryana agriculture and farmers welfare minister O P Dhankar today exhorted farmers to improve farm production management, diversification and direct marketing to earn one lakh per acre. The minister called for agribusiness schools in Punjab and Haryana to impart training on ways to market agro products. “Farmers need to focus on establishing direct connect with the world market to sell their produce rather than depending on middlemen or other agencies. Farmers can come together to brand and sell their produce at their own or village level.

Telangana    

Telangana Industrial health Clinic to be launched soon to rescue ‘sick’ MSMEs

After several delays, the proposed Telangana Industrial Health Clinic (TIHC) is in its final phase of the launch. The TIHC aims to assist in rehabilitation of sick MSMEs in terms of financial needs, technological upgradation as well as logistic requirements. Talking to KNN, Yerram Raju, Economist and Advisor for the TIHC said that the TICH is being set to help the MSMEs in the region under two possibilities, one being those units who might fall sick and the other set being comprising of units that are already sick.

Tamil Nadu    

Credit flow for Tirupur projected at 10,167 cr; MSMEs to scoop 61% of the total credit

The credit flow to the Tirupur district is project at the new high of Rs 10,167 crores. It is for the first time ever since the district was formed in 2009, that the credit flow has reached the five digit mark. The projected figure was compiled by the Lead Bank. This year’s projection stands 16.12 per cent more than the projections made last year. The top priority sector for the credit flow includes MSMEs, agriculture, education, renewable energy and housing.

Uttar Pradesh    

UP planning to provide exit policy and increased limit for technological upgradation for MSMEs

UP government will ensure new industrial policy provides single window clearance and rehabilitation and exit policy for Micro, Small and Medium Enterprises (MSMEs) of the state, said UP’s Minister for MSMEs and Export Promotion Satyadev Pachauri. The state government is also planning to increase the limit for technological upgradation for MSMEs to Rs 1 crore from existing Rs 2 lakh. Pachauri also said that his government has referred to the progressive policies of Telangana and Gujarat to launch single window clearance system for UP industries.
World Watch

Taiwan    

FISME to take MSME delegation to Food Taipei in June; buyers from more than 100 countries to take part

After successfully coordinating a large MSME delegation to 26th Taipei International Machine Tool Show (TIMTOS) in Taiwan earlier this month, Federation of Indian Micro and Small & Medium Enterprises (FISME) is now taking a delegation to the leading Food exhibition in Taipei, Taiwan. In order to help MSMEs get a global platform to interact and have business ties with entrepreneurs from across the world, FISME has called upon interested MSMEs to be a part of the delegation.
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Sri Lanka    

India, Sri Lanka ink pact for economic cooperation

India and Sri Lanka today signed a pact to boost economic ties after wide-ranging talks between their prime ministers during which the Indian leadership expressed the hope that the island nation will complete its reconciliation process within the two-year deadline. Prime Minister Narendra Modi and his Sri Lankan counterpart Ranil Wickremesinghe, who arrived here yesterday on a five-day visit, discussed a range of bilateral issues and matters of mutual interest, an external affairs ministry release said.
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Cyprus    

With new tax pact in place, India and Cyprus hope for increase in bilateral investments

India and Cyprus on Thursday expressed hope that after the removal of Cyprus as a notified jurisdictional area and the revised tax avoidance pact bilateral investments between the two countries will increase. “These can give a completely new dynamic and strengthen the economic ties, particularly in the field of investments between the two countries,” said Nicos Anastasiades, President of Cyprus, at the India-Cyprus business session organised by industry chambers.
Read More    Back to Top
Upcoming Events
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

Business Opportunities Show Visakhapatnam

Date: 02nd May 2017
Venue: Visakhapatnam
See Details

Renewtech India

Date: 03rd- 04th May 2017
Venue: The Lalit, Mumbai
See Details

Waptema Water Expo

Date: 04th – 06th May 2017
Venue: Pragati Maidan, New Delhi
See Details

Furniture and Interior Expo

Date: 05th – 07th May 2017
Venue: Indira Gandhi Pratishthan, Lucknow
See Details

National Be Conclave

Date: 09th May 2017
Venue: CII Institute of Quality, Bengaluru
See Details
Your Views

GDP numbers show note ban worries were exaggerated. Do you agree?

According to the FISME Factor, 80 percent of Micro, Small & Medium Enterprises do not agree with the opinion that note ban worries were exaggerated while 20 percent think otherwise.
Knowledge Store

HR Heuristics

The tale of the two airlines - One won hearts, other lost face & billions

The airlines industry is cornering a lot of media and social media space in the last few days. The recently concluded Air India story and the ongoing United Airlines saga have become a study in contrasts in crisis communication and organizational reputation management in a negative situation. Both the well-chronicled episodes have garnered a widespread public attention and outrage, but the two affected airlines have occupied the two opposite ends of the spectrum of crisis communication.

Finance Fundamentals

Compensation and benefits strategy for small businesses

Attracting top talent is critical to growing a business. The natural instinct of an entrepreneur is to hire top talent quickly and not let paucity of talent result in a loss of business opportunity. This leads to high salaries and benefits being offered -- especially for niche technical skills.

Marketing Mantras

Pulse hit Rs 100 crore sales in eight months with no advertising. So why is it going in for a TV campaign now?

In a category like confectionery, to go mass-media would be the first trick of the trade for a brand to get noticed. Thus to become a Rs 100 crore brand within 8 months of launch and then triple that size, in absence of any mass-media spends does make Pulse candy, a part of the Noida-based DS Group, a formidable player.

Policy Polemic

Provide soft loans against sanctioned incentives until the incentive amount is released: Jammu MSMEs to Govt

The micro, small and medium enterprises (MSMEs) in Jammu are struggling to repay their loan instalments as their heavy amount is stuck with the government due to non-clearance of sanctioned claims under various subsidies.

SME Special

SAP launches solution to help SMEs become GST compliant

Enterprise application software maker SAP today launched a solution for SMEs to help them become compliant with the Goods and Services Tax (GST). "GST is a great opportunity for organisations of all sizes to transform and boost their shift into the digital economy," said Sunil Kharbanda, Chief Customer Officer, SAP India Sub Continent.

Success Story

Indian businessman wins Queen's Enterprise Award

A prominent Indian businessman's food processing plant in Britain has won the prestigious Queen's Enterprise Award 2017 for its exceptional contribution to the UK's trade, industry and economy.

Stockpile

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

Quotable Quotes

““Until you value yourself, you won’t value your time. Until you value your time, you will not do anything with it.” ”
– M. Scott Peck, was an American psychiatrist and best-selling author.
 
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

5 New Members Join FISME

During the period from 15th March to 31st March 2017 a total of 5 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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