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President's Message
" To gauge the protection available to domestic industry, producing a particular product, we generally look at the Customs duty on that product. That could be a fatal mistake. What we ought to look at is the import duty on the inputs of that product. If the import duty on the inputs is more that of the finished product, it leads to inverted tariff. The scenario can make that product uncompetitive. The competitiveness of a large number of MSMEs is adversely affected because primary inputs such as steel, plastic raw material, copper, aluminium etc carry higher duties because of anti-dumping duties. To provide unprecedented protection, there is even a Minimum Import Price (MIP) on steel. More raw material producers are gunning for the MIP on their produce also now. Similarly, just two MNCs produce 80% of float glass in India and have been quite profitable. Float glass is raw material for hundreds of MSME processors. Now, anti-dumping duty has been imposed on float glass rendering the MSMEs uncompetitive. Anti-dumping has become a tool to create monopolies and for profiteering. All of us need to work to put this menace to an end.
"
As a significant step to facilitate participation of MSME in the huge defence procurement market, the Ministry of MSME will intervene to minimise the cost of Bank Guarantees.
Chairing a meeting recently called to encourage defence public procurement from MSMEs, K K Jalan, Secretary, Ministry of MSME, agreed to consider the request from Federation of Indian Micro and Small & Medium Enterprises (FISME), the apex body for MSME associations in the country, on the issue.
The Insolvency and Bankruptcy Board of India and FISME jointly organized consultation with IIA in Lucknow on 12th May 2017 to seek feed-back on the Fast Track for Small Companies proposal under Insolvency and Bankruptcy Code. According to the proposal, for the small companies- for which a criteria to define was also discussed, the period of resolution would be brought down from 180 to 90 days. Mrs. Suman Saxena, Mmeber of the IBBI and Mr. Sanjeev Pandey, DGM, IBBI explained the salient features of the Code and the proposal. Mr. Manish Goel, President, Indian Industries Association (IIA) and Mr. Anil Bharwdaj Secretary General FISME coordinated the discussions. The event was supported by SIPI, INSOL India and IIA.
"Businesses of all types in every sector are capable of significant growth. The constraining factor isn't the business model – it's the ambition and capability of the owner-manager, although it may take longer to grow in some sectors and some business models can be scaled more quickly than others.
"Many owners simply don't want their business to be large. Most owners want their business to be better, but that doesn't necessarily mean significantly bigger. Also, the level of ambition an owner has tends to vary over the life of their business – and there's nothing wrong with that.
Thousands of garment, leather, handicraft, and gems and jewellery exporters have watched helplessly as the rupee has appreciated by a quarter against Europe's common currency over the past 12 months. How sliding Rupee can spell more trouble …
Strong performance by petroleum, engineering and textiles sectors pushed up India's exports growth by 19.77 per cent to USD 24.63 billion in April.
However, trade deficit also witnessed about three-fold increase to USD 13.24 billion mainly on account of sharp jump in gold and crude oil imports during the month.
"In continuation with the double digit growth exhibited by exports during March, exports during April have shown growth of 19.77 per cent," the commerce ministry said in a statement.
The industry experts attending the Mid-Term review meeting of the Foreign Trade Policy 2015-2020 raised concerns related to exports under the upcoming GST regime with the Commerce Minister Nirmala Sitharaman earlier today.
Highlighting the concerns to be addressed, Sitharaman said that the two prime issues that concern the exporters particularly the entrepreneurs from the SME sector include the confusion around the way in which the refund is going to be entertained to the exporters.
Revenue Secretary, Dr. Hasmukh Adhia, reviewed the IT Preparedness for GST System at the Goods and Services Tax Network (GSTN) office in national capital and expressed his satisfaction with the preparation for the roll-out of GST from July 1, 2017.
Adhia reviewed GST System preparedness of GSTN and CBEC.
He was briefed about the software system being developed for GST, training of tax officials and outreach program being undertaken by Tax Departments across the nation.
India and Mauritius have good trade relations, It is time for both the countri3es to expand further and let the SMEs come together, Union Minister for MSMEs Karlaj Mishra has said at an event in Mauritius.
Mishra stressed that India is willing to invest in the Mauritian Technological sector by offering low cost technological tools for the MSMEs in Mauritius.
Emphasizing on the importance of the sector, the Minister said that in both the countries MSMEs are important since they offer employment to the citizens and also contributes fair share in the country’s economy.
India has imposed anti-dumping duty on a certain type of glass from Iran and also Chinese aluminium radiators to protect domestic industry from cheap imports. While an anti-dumping duty of up to $55.59 per tonne was imposed on clear float glass, $22.89 was slapped on imports of aluminium radiators.
The duty on both the products would be effective for a period of five years, the finance ministry has said in a notification. Clear float glass is used in construction, refrigeration, mirror and solar energy industries.
Trade body Solvent Extractors' Association of India (SEA) has urged the government to exempt oilseeds and oils from the Storage Control Order for free market and movement.
The government under Storage Control Order 1977 has imposed the stock limit on oil and oilseeds and amended from time to time. The current domestic oilseed production and the total vegetable oil consumption in the country made by nearly 70% imported oil.
The Ministry of MSME has decided that in case of a company or a limited liability partnership or a cooperative society or society or a trust, the companies with turnover above Rs.20 lakh per annum should specify the PAN of the organisation along with Aadhaar Number in the Udyog Aadhaar Memorandum (UAM).
This will be implemented after 2 months of GST coming into operation.
The decision was taken by the Ministry of MSME during a recently conducted Advisory Committee Meeting under the MSMED Act, 2006 on the Draft Udyog Aadhaar Memorandum (UAM).
With the GST all set to roll out from July 1, the Reserve Bank of India sees the new tax regime instrumental in facilitating growth and enabling external competitiveness.
RBI in a report titled ‘State Finances: A study of Budgets of 2016-17’ said that the GST is likely to strengthen the structure of cooperative federalism in the country.
Talking about the Small and Medium Enterprises RBI said that the GST will boost the sector by improving the ease of doing business. The logistical costs are expected to go down this enabling the SMEs to expand their operations in different states without fearing additional tax burdens.
The Karnataka Small Scale Industries Association (KASSIA) is organizing an interaction session with Kalraj Mishra, Union Cabinet Minister of Micro, Small and Medium Enterprises (MoMSME) and MSMEs in the state.
Along the lines of the Digital India program and highlighting the need for the MSMEs to go Digital, the launch My KASSIA Mobile APP will also take place in the session. Other key officials likely to attend the event include Kalraj Mishra, MSME Minister, Ramesh L. Jarikholi, SSI Minister, Ravindra Nath, Chairman and MD of NSIC.
: In a major move, the key central government authority on genetically-modified (GM) crop issues — Genetic Engineering Appraisal Committee (GEAC) — is learnt to have on Thursday given the go-ahead for commercial release of GM mustard with a number of conditions.
If approved, GM Mustard could be the first genetically-modified food crop to be cultivated commercially in India.
So far only GM cotton is commercially cultivated. Cultivation of GM crops is a hugely sensitive issue and is bound to invite both political and social protests.
With the GST all set to roll out from July 1, the Reserve Bank of India sees the new tax regime instrumental in facilitating growth and enabling external competitiveness.
RBI in a report titled ‘State Finances: A study of Budgets of 2016-17’ said that the GST is likely to strengthen the structure of cooperative federalism in the country.
Talking about the Small and Medium Enterprises RBI said that the GST will boost the sector by improving the ease of doing business. The logistical costs are expected to go down this enabling the SMEs to expand their operations in different states without fearing additional tax burdens.
The Madhya Pradesh government has exempted micro, small and medium enterprises (MSMEs) from depositing earnest money in departmental tenders after many MSMEs companied about the earnest money being blocked.
The move aims to boost participation of MSMEs in tenders and also resolve the delay in payments issue.
The Association of Industries Madhya Pradesh (AIMP) has been raising the issue of MSMEs facing problems due to money being blocked and late refunds by various departments.
The industrial units in Delhi, which require “Consent to Operate” under the provisions of the Water (Prevention and Control of Pollution) Act, 1974 from State Pollution Control Board/ Committees, have time till May 22, 2017 to install Effluent Treatment Plant (ETP).
The units which fail to do so will be inspected by the Delhi Pollution Control Committee (DPCC) officials and in case of any violation, action will be taken as per law.
Eyeing at establishing of new businesses in the state, the Odisha government has decided to launch training programs for the youngsters and potential entrepreneurs.
Prafull Samal, MSME Minister in a meeting with officials from the MSME department decided to mark Entrepreneurship with high priority in the state. Aiming to train at least 10,000 youth in the current fiscal year, the government is likely to launch the program soon.
Holding bilateral discussion with the Finance Minister of Japan, Taro Aso, Union Finance Minister Arun Jaitley called upon Japanese companies to set up facilities in India for manufacture of rolling stock for the metro rail projects.
Both the Ministers noted the growing synergy between India and Japan and committed themselves towards working closely to further expand India-Japan bilateral economic cooperation.
In a recent meeting between a high level delegation led by the Japanese Ambassador to India, Kenji Hiramatsu and the Haryana Chief Minister Manohar Lal Khattar, the Japanese Diplomat has proposed a training institute in Haryana.
The training institute would focus on imparting skills to the youth in Haryana, making them efficient to operate in the state’s manufacturing sector. The Chief Minister expressed his interest in the proposal and has extended all possible support from the State government to help set the institute.
The 19th Session of India-Italy Joint commission was held recently in Roma. The main focus of the session was to explore ways and strengthen the economic cooperation further.
The joint commission was attended by Minister of Economic Development Mr. Carlo Calenda from the Italian side. Nirmala Sitharaman, Minister of Commerce and Industry represented the Indian side at the session.
Both India and Italy reasserted the importance of Join Commission Session for Economic Cooperation. This would help both the nations in development of stronger bilateral ties and trade relations.
India’s expanded Preferential Trade Agreement (PTA) with Chile will be implemented from May 16, 2017, facilitating exporters of both sides to take the advantage of tariff concessions as per the expanded PTA immediately which covers around 96% of bilateral trade.
India and Chile had signed an agreement on expansion of India-Chile PTA on September 6, 2016. The Union Cabinet had approved the expansion of PTA in April, 2016
Do You Think It Is Possible To Tamper With Electronic Voting Machines?
According to the FISME Factor, 56.3 percent of Micro, Small & Medium Enterprises do not agree with the opinion of possibility to temper with electronic voting machine while 12.5 percent think otherwise.
6 Steps Your HR Team Can Take to Leave the Dark Ages
The workplace continues to change as workers and clients use technology to communicate and manage operations. However, some HR departments still cling to outdated processes, arguing that it’s the way they’ve always done things. By resisting moving forward, these teams may hurt their chances of recruiting new employees or impressing clients.
Better margins, claim settlement can boost bank lending under PMMY
An elongated guarantee claim settlement process and tighter loan reporting requirements appear to have hobbled the Pradhan Mantri Mudra Yojana (PMMY), which promotes collateral-free lending to micro enterprises, thereby supporting the larger agenda of inclusive finance.
A close look at disbursals under the scheme throws up some challenges. For one, with just two months to go in the current financial year, disbursements stand at Rs0.89 trillion, as against a target of Rs 1.80 trillion. Also, microfinance institutions (MFIs) account for over a third of the loans.
How to uncomplicate your small business digital marketing strategies
Does your business get enough leads every month? Are you spending too much time and money on marketing?
Getting more leads is often the number one wish-list item of a small business and those with an effective online presence find new ways to gain access to a new customer base.
Enhancement of investment limit for MSMEs will not ease existing issues being faced by the sector: IIA
The enhancement of investment limit for MSMEs, as proposed in the MSMED (Amendment) Bill 2015 and by the One Man Committee for National MSME Policy, will not ease the existing issues being faced by the sector, Indian Industries Association (IIA) said in a letter to the Ministry of MSME.
The industry body IIA has written a letter to the Ministry of MSME, Government of India, making suggestions for re-classification of enterprises into micro, small and medium.
This startup by IIT Roorkee alumni is helping the next 500 million Indians consume content online
Four friends from IIT Roorkee — Sourabh Gupta, Manoj Sarda, Akshay Deshraj, and Prateek Gupta — felt that with the growing mobile internet penetration, it was important to build something that helped the next 500 million Indians come online. And just as pressing was the need to improve their online content experience.
The four, who have been friends for five years now, saw that in several rural and urban areas, businesses had neglected non-English speaking users on the digital channels. Thus, many who even had access to the internet didn’t have the access to content.
How this government employee went on to build a Rs 556cr company
As was typical of the middle-class Indian families in the 90s, Varanasi resident Dhirendra Singh was a government employee. While working in Vadodara, however, he was bitten by the entrepreneurial bug. Convinced there would always be demand for businesses related to food and beverages, he ventured into that space.
The Central Statistics Office (CSO) has revised the base year of the macroeconomic indicators and also the base year of the all-India Index of Industrial Production (IIP) from 2004-05 to 2011-12 ..
“ The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency. ”
– Bill Gates - American business magnate, investor, author and philanthropist
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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" To gauge the protection available to domestic industry, producing a particular product, we generally look at the Customs duty on that product. That could be a fatal mistake. What we ought to look at is the import duty on the inputs of that product. If the import duty on the inputs is more that of the finished product, it leads to inverted tariff. The scenario can make that product uncompetitive. The competitiveness of a large number of MSMEs is adversely affected because primary inputs such as steel, plastic raw material, copper, aluminium etc carry higher duties because of anti-dumping duties. To provide unprecedented protection, there is even a Minimum Import Price (MIP) on steel. More raw material producers are gunning for the MIP on their produce also now. Similarly, just two MNCs produce 80% of float glass in India and have been quite profitable. Float glass is raw material for hundreds of MSME processors. Now, anti-dumping duty has been imposed on float glass rendering the MSMEs uncompetitive. Anti-dumping has become a tool to create monopolies and for profiteering. All of us need to work to put this menace to an end.
"
As a significant step to facilitate participation of MSME in the huge defence procurement market, the Ministry of MSME will intervene to minimise the cost of Bank Guarantees.
Chairing a meeting recently called to encourage defence public procurement from MSMEs, K K Jalan, Secretary, Ministry of MSME, agreed to consider the request from Federation of Indian Micro and Small & Medium Enterprises (FISME), the apex body for MSME associations in the country, on the issue.
The Insolvency and Bankruptcy Board of India and FISME jointly organized consultation with IIA in Lucknow on 12th May 2017 to seek feed-back on the Fast Track for Small Companies proposal under Insolvency and Bankruptcy Code. According to the proposal, for the small companies- for which a criteria to define was also discussed, the period of resolution would be brought down from 180 to 90 days. Mrs. Suman Saxena, Mmeber of the IBBI and Mr. Sanjeev Pandey, DGM, IBBI explained the salient features of the Code and the proposal. Mr. Manish Goel, President, Indian Industries Association (IIA) and Mr. Anil Bharwdaj Secretary General FISME coordinated the discussions. The event was supported by SIPI, INSOL India and IIA.
"Businesses of all types in every sector are capable of significant growth. The constraining factor isn't the business model – it's the ambition and capability of the owner-manager, although it may take longer to grow in some sectors and some business models can be scaled more quickly than others.
"Many owners simply don't want their business to be large. Most owners want their business to be better, but that doesn't necessarily mean significantly bigger. Also, the level of ambition an owner has tends to vary over the life of their business – and there's nothing wrong with that.
Strong performance by petroleum, engineering and textiles sectors pushed up India's exports growth by 19.77 per cent to USD 24.63 billion in April.
However, trade deficit also witnessed about three-fold increase to USD 13.24 billion mainly on account of sharp jump in gold and crude oil imports during the month.
"In continuation with the double digit growth exhibited by exports during March, exports during April have shown growth of 19.77 per cent," the commerce ministry said in a statement.
The industry experts attending the Mid-Term review meeting of the Foreign Trade Policy 2015-2020 raised concerns related to exports under the upcoming GST regime with the Commerce Minister Nirmala Sitharaman earlier today.
Highlighting the concerns to be addressed, Sitharaman said that the two prime issues that concern the exporters particularly the entrepreneurs from the SME sector include the confusion around the way in which the refund is going to be entertained to the exporters.
Revenue Secretary, Dr. Hasmukh Adhia, reviewed the IT Preparedness for GST System at the Goods and Services Tax Network (GSTN) office in national capital and expressed his satisfaction with the preparation for the roll-out of GST from July 1, 2017.
Adhia reviewed GST System preparedness of GSTN and CBEC.
He was briefed about the software system being developed for GST, training of tax officials and outreach program being undertaken by Tax Departments across the nation.
India and Mauritius have good trade relations, It is time for both the countri3es to expand further and let the SMEs come together, Union Minister for MSMEs Karlaj Mishra has said at an event in Mauritius.
Mishra stressed that India is willing to invest in the Mauritian Technological sector by offering low cost technological tools for the MSMEs in Mauritius.
Emphasizing on the importance of the sector, the Minister said that in both the countries MSMEs are important since they offer employment to the citizens and also contributes fair share in the country’s economy.
India has imposed anti-dumping duty on a certain type of glass from Iran and also Chinese aluminium radiators to protect domestic industry from cheap imports. While an anti-dumping duty of up to $55.59 per tonne was imposed on clear float glass, $22.89 was slapped on imports of aluminium radiators.
The duty on both the products would be effective for a period of five years, the finance ministry has said in a notification. Clear float glass is used in construction, refrigeration, mirror and solar energy industries.
Trade body Solvent Extractors' Association of India (SEA) has urged the government to exempt oilseeds and oils from the Storage Control Order for free market and movement.
The government under Storage Control Order 1977 has imposed the stock limit on oil and oilseeds and amended from time to time. The current domestic oilseed production and the total vegetable oil consumption in the country made by nearly 70% imported oil.
The Ministry of MSME has decided that in case of a company or a limited liability partnership or a cooperative society or society or a trust, the companies with turnover above Rs.20 lakh per annum should specify the PAN of the organisation along with Aadhaar Number in the Udyog Aadhaar Memorandum (UAM).
This will be implemented after 2 months of GST coming into operation.
The decision was taken by the Ministry of MSME during a recently conducted Advisory Committee Meeting under the MSMED Act, 2006 on the Draft Udyog Aadhaar Memorandum (UAM).
With the GST all set to roll out from July 1, the Reserve Bank of India sees the new tax regime instrumental in facilitating growth and enabling external competitiveness.
RBI in a report titled ‘State Finances: A study of Budgets of 2016-17’ said that the GST is likely to strengthen the structure of cooperative federalism in the country.
Talking about the Small and Medium Enterprises RBI said that the GST will boost the sector by improving the ease of doing business. The logistical costs are expected to go down this enabling the SMEs to expand their operations in different states without fearing additional tax burdens.
The Karnataka Small Scale Industries Association (KASSIA) is organizing an interaction session with Kalraj Mishra, Union Cabinet Minister of Micro, Small and Medium Enterprises (MoMSME) and MSMEs in the state.
Along the lines of the Digital India program and highlighting the need for the MSMEs to go Digital, the launch My KASSIA Mobile APP will also take place in the session. Other key officials likely to attend the event include Kalraj Mishra, MSME Minister, Ramesh L. Jarikholi, SSI Minister, Ravindra Nath, Chairman and MD of NSIC.
: In a major move, the key central government authority on genetically-modified (GM) crop issues — Genetic Engineering Appraisal Committee (GEAC) — is learnt to have on Thursday given the go-ahead for commercial release of GM mustard with a number of conditions.
If approved, GM Mustard could be the first genetically-modified food crop to be cultivated commercially in India.
So far only GM cotton is commercially cultivated. Cultivation of GM crops is a hugely sensitive issue and is bound to invite both political and social protests.
The Madhya Pradesh government has exempted micro, small and medium enterprises (MSMEs) from depositing earnest money in departmental tenders after many MSMEs companied about the earnest money being blocked.
The move aims to boost participation of MSMEs in tenders and also resolve the delay in payments issue.
The Association of Industries Madhya Pradesh (AIMP) has been raising the issue of MSMEs facing problems due to money being blocked and late refunds by various departments.
The industrial units in Delhi, which require “Consent to Operate” under the provisions of the Water (Prevention and Control of Pollution) Act, 1974 from State Pollution Control Board/ Committees, have time till May 22, 2017 to install Effluent Treatment Plant (ETP).
The units which fail to do so will be inspected by the Delhi Pollution Control Committee (DPCC) officials and in case of any violation, action will be taken as per law.
Eyeing at establishing of new businesses in the state, the Odisha government has decided to launch training programs for the youngsters and potential entrepreneurs.
Prafull Samal, MSME Minister in a meeting with officials from the MSME department decided to mark Entrepreneurship with high priority in the state. Aiming to train at least 10,000 youth in the current fiscal year, the government is likely to launch the program soon.
Holding bilateral discussion with the Finance Minister of Japan, Taro Aso, Union Finance Minister Arun Jaitley called upon Japanese companies to set up facilities in India for manufacture of rolling stock for the metro rail projects.
Both the Ministers noted the growing synergy between India and Japan and committed themselves towards working closely to further expand India-Japan bilateral economic cooperation.
In a recent meeting between a high level delegation led by the Japanese Ambassador to India, Kenji Hiramatsu and the Haryana Chief Minister Manohar Lal Khattar, the Japanese Diplomat has proposed a training institute in Haryana.
The training institute would focus on imparting skills to the youth in Haryana, making them efficient to operate in the state’s manufacturing sector. The Chief Minister expressed his interest in the proposal and has extended all possible support from the State government to help set the institute.
The 19th Session of India-Italy Joint commission was held recently in Roma. The main focus of the session was to explore ways and strengthen the economic cooperation further.
The joint commission was attended by Minister of Economic Development Mr. Carlo Calenda from the Italian side. Nirmala Sitharaman, Minister of Commerce and Industry represented the Indian side at the session.
Both India and Italy reasserted the importance of Join Commission Session for Economic Cooperation. This would help both the nations in development of stronger bilateral ties and trade relations.
India’s expanded Preferential Trade Agreement (PTA) with Chile will be implemented from May 16, 2017, facilitating exporters of both sides to take the advantage of tariff concessions as per the expanded PTA immediately which covers around 96% of bilateral trade.
India and Chile had signed an agreement on expansion of India-Chile PTA on September 6, 2016. The Union Cabinet had approved the expansion of PTA in April, 2016
According to the FISME Factor, 56.3 percent of Micro, Small & Medium Enterprises do not agree with the opinion of possibility to temper with electronic voting machine while 12.5 percent think otherwise. 
The workplace continues to change as workers and clients use technology to communicate and manage operations. However, some HR departments still cling to outdated processes, arguing that it’s the way they’ve always done things. By resisting moving forward, these teams may hurt their chances of recruiting new employees or impressing clients.
An elongated guarantee claim settlement process and tighter loan reporting requirements appear to have hobbled the Pradhan Mantri Mudra Yojana (PMMY), which promotes collateral-free lending to micro enterprises, thereby supporting the larger agenda of inclusive finance.
A close look at disbursals under the scheme throws up some challenges. For one, with just two months to go in the current financial year, disbursements stand at Rs0.89 trillion, as against a target of Rs 1.80 trillion. Also, microfinance institutions (MFIs) account for over a third of the loans.
Does your business get enough leads every month? Are you spending too much time and money on marketing?
Getting more leads is often the number one wish-list item of a small business and those with an effective online presence find new ways to gain access to a new customer base.
The enhancement of investment limit for MSMEs, as proposed in the MSMED (Amendment) Bill 2015 and by the One Man Committee for National MSME Policy, will not ease the existing issues being faced by the sector, Indian Industries Association (IIA) said in a letter to the Ministry of MSME.
The industry body IIA has written a letter to the Ministry of MSME, Government of India, making suggestions for re-classification of enterprises into micro, small and medium.
Four friends from IIT Roorkee — Sourabh Gupta, Manoj Sarda, Akshay Deshraj, and Prateek Gupta — felt that with the growing mobile internet penetration, it was important to build something that helped the next 500 million Indians come online. And just as pressing was the need to improve their online content experience.
The four, who have been friends for five years now, saw that in several rural and urban areas, businesses had neglected non-English speaking users on the digital channels. Thus, many who even had access to the internet didn’t have the access to content.
As was typical of the middle-class Indian families in the 90s, Varanasi resident Dhirendra Singh was a government employee. While working in Vadodara, however, he was bitten by the entrepreneurial bug. Convinced there would always be demand for businesses related to food and beverages, he ventured into that space.
“ The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency. ”
