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President's Message
The economy has not yet come out of the twin shocks of demonetisation and GST. Though the normalcy is returning, it is too slow and not painless. The 23rd meeting of GST council did make efforts to smoothen the rough edges of GST by bringing many items from peak GST rate slab of 28% to that of 18% and 12%. It would bring relief to many. However, reduction in number of slabs itself and finding a way to easily and quickly set off the input tax credit remain a few sore points. MSMEs’ complain that they have to bear additional burden of financing the GST component also when billed to large buyers because of long payment cycles, has merit. A suggestion that companies having turnover above 100 Crore, could be asked to deduct GST and deposit like TDS, might alleviate their pain. The point is please don’t suffer alone. Let’s share and continue to find and suggest solutions to Government in the way of implementation of GST. "
The 3rd Meeting of the Intellectual Property Facilitation Centre for MSMEs,was organised recently by the Federation of Indian Micro and Small & Medium Enterprises (FISME) in the national capital.
The meeting was chaired by Vijay Kumar, Director MSME Development Centre, New Delhi.
Members present included Dr. P D Kaushik, Pro- Vice Chancellor, Tirthankar Mahavir University, Moradabad and Anil Bhardwaj Secretary General FISME
The Committee discussed the challenges faced by MSMEs in identifying their intellectual properties and protecting them appropriately.
The I P facilitation centres were promoted by the Ministry of MSME to create awareness among MSMEs about intellectual property rights, support them in protecting IPRs and also study the IP protection scenario.
With Insolvency and Bankruptcy Board of India (IBBI), FISME and South Gujarat Chamber of Commerce & Industries organized a stakeholder consultation workshop in Surat (Gujarat) on 6th Nov 2017. Dr. Mamta Suri, Executive Director of IBBI made the presentation. The workshop was part of series of consultations FISME organized on the issue in Lucknow, Ludhiana and other places. After having finalized the Rules for Corporates, the IBBI has prepared a draft of Rules meant for individuals in business i.e. partnerships and proprietorship firms.
While young founders have all the poise and promise needed to start a company, there are some experiences and information you simply cannot replace with hustle. First-time founders often have to spend a great deal of time overcoming their naivety, as they overestimate their likelihood of success while underestimating the amount of work ahead of them.
In a welcome and sweeping effort to rationalise tax rates, the GST Council has slashed the number of items in the 28 per cent bracket from 228 to 50, moved six items apiece from 18 per cent to 5 per cent and 5 per cent to nil, respectively, and another eight items from 12 per cent to 5 per cent. Scrapping the absurd distinction between types of restaurants, a flat 5 per cent rate will apply across categories, save five-star hotels. Consumer items such as beauty products, chocolates, detergents are among the 178 items that have been moved to the 18 per cent bracket. Strangely enough, this includes marble and granite, even as paints and cement stays in the 28 per cent category.
Services export of India remained flat at USD 13.73 billion in September year-on-year while import slightly picked up to USD 8.45 billion, showed RBI data.
In September 2016, India had exported services worth USD 13.77 billion. The import grew 1.7 per cent from USD 8.30 billion last year.
In August 2017, the services export was USD 13.7 billion while the import came in at USD 8.66 billion.
Cumulatively, the services export during April-September read USD 80.33 billion. Import of services was valued at USD 46.74 billion in the first half of the fiscal, showed the data on India's International Trade in Services released by the Reserve Bank of India (RBI).
India's industrial production growth slowed in September from a nine-month high in August, although the key capital goods and consumer nondurables sectors reported a healthy performance, indicating some strength in laggard areas.
Output, as measured by the Index of Industrial Production (IIP), rose 3.8% in September, compared with an upward revised 4.5% in August, data released by the government showed. The preliminary estimate for August industrial growth was 4.3%.
Minerals worth at least Rs 50,000 crore can be auctioned from 13-15 blocks in the remaining four months of the current fiscal with the upcoming proposed amendments in the auctioning rules, a top official of the Ministry of Mines said.
These 13-15 mines could include limestone, iron ore, emerald and molybdenum among others.
"We would like the progress to pick up. We are certainly hoping that we will easily cross the Rs one lakh crore figure for the current year, with new 13-15 blocks expected in the remaining four months of FY18," Union Mines secretary Arun Kumar said here last evening.
The government is considering amending its insolvency law to prevent existing promoters of bankrupt companies from reacquiring them during the resolution process at a steep discount.
The current Insolvency and Bankruptcy Code, passed last year, does not prevent promoters from bidding for these stressed assets during the resolution process. Some owners are reported to be getting ready to stake a claim for these assets when they are put up for sale by the creditors.
The power intensive aluminium industry, facing huge coal shortages industry has sought intervention from the PMO to direct coal India and other companies to provide the committed quantity of coal.
Aluminium Association of India (AAI), in a letter to PMO AAI has said that the investment of Rs.1.2 lakh crore in the aluminium sector has been holding a debt of Rs. 70,000 crore with the employment for 7.5 lakh people at a very critical risk due to coal shortage.
The lifting of PMLA (Prevention of Money Laundering Act) on 6 October has brought relief to the gems and jewellery companies and the consumers. The stock prices have soared and business have started flourishing again, All India Gems and Jewellery Trade Federation informed.
Earlier on 23 August, PMLA notification was rolled out that required the dealers in precious metals, stones and other high-value goods, to maintain a record of all transaction of value exceeding Rs10 lakh and all cross-border wire transfers of more than Rs5 lakh. Also, the sale of gold above Rs.50,000 required customers to furnish PAN (permanent account number) or Aadhaar card to the jeweller.
Punjab Chief Minister Capt. Amarinder Singh unveiled 'Punjab Industrial and Business Development Policy 2017' at 6th Invest North 2017 investment conclave and announced 100 per cent exemption from SGST in thrust sectors like high-tech manufacturing, apparel and made-ups, technical textiles, footwear and accessories, food processing, electronics, electronic service industry.
The new industry policy aims to promote the MSME sector in Punjab, the key highlights of the policy include 100 crore funds to promote start ups, decrease in industry power tariff to Rs.5 per unit and simplify the business registration and licensing process.
In order to promote the handicrafts and indigenous crafts in Uttar Pradesh, state government is planning to start full-time job oriented courses in the UP Institute of Design by 2019.
Kshipra Shukla, chairperson of the UP Institute of Design in a press statement said that the institute had been planning to start proper and full-time courses from the UP Institute of Design, Lucknow, by 2019. The institute would offer undergraduate degree, post-graduate degree and PG diploma courses to the students.
Eyeing at facilitating growth among the Micro, Small and Medium Enterprises of the region, MSME Minister Giriraj Singh recently laid the foundation stone of an extension project in Godda.
The project aims to set up extended facility for the Fragrance & flavour development centre (FFDC) ,Kannauj in Godda region of Jharkhand.
Also with the facility coming up, newer technology in the field is expected to bloom in the establishment , providing fresh impetus to the sector.
Bureau of Energy Efficiency (BEE) Director-General Abhay Bhakre assured the Andhra Pradesh Government that the necessary support would be extended to the government for implementing various ‘energy-efficiency programmes’ in MSME (Micro,Small and Medium Enterprises) sector.
Addressing the media, Bhakre highlighted the importance of adoption of energy-efficiency technology in MSMEs and said that the MSMEs had huge potential to successfully adopt the energy efficient measures. The Director-General added that there are 4,000 MSME clusters across the country and among them 180 are energy intensive, consuming 22.7 million tonnes oil equivalent of energy.
The 4th India-Canada Ministerial Dialogue on Trade and Investment was concluded in New Delhi yesterday.The Indian Delegation was led by the Minister for Commerce and Industry, Suresh Prabhu while the Canadian side was headed by the Minister for International Trade, François-Philippe Champagne.
During the talks, both countries recognised the potential and scope of bilateral trade and discussed issues related to investment and trade.
A 70-member Australian delegation headed by Martin Hamilton-Smith, minister for investment and trade at the South Australian government, will meet with state governments in India negotiating and proposing tie-ups in water conservation, defence, technology in healthcare, premium wine and food as well as art.
The first of such initiatives is likely to be a proposal for a centre of research on water conservation in Maharashtra, said Smith.
India and Philippines on Monday signed four Memorandum of Understanding (MoUs) in different fields to boost their bilateral relations including Micro, Small and Medium Enterprises (MSMEs).
Both countries exchanged MoUs on cooperation in the field of micro small and medium enterprises,defense, agriculture and related fields and foreign services. Preeti Saran, Secretary (East) in India's Ministry of External Affairs said that four agreements has been signed between India and Philippines, including ones on defense cooperation , logistics, agriculture and on micro small and medium enterprises.
Eyeing at strengthening relation between the two nations, a Chinese delegation recently met Haryana Chief Minister Manoharlal Khattar showing its keen interest to invest in the fields of industrial infrastructure, steel industry, electronic and automobile projects in Haryana.
Haryana has emerged as the one of the most preferred investment destinations for China in India, said the Vice-Governor, Wang Xiaodong who led a delegation from Hubei Province of China and met Haryana’s chief minister Manohar Lal Khattar.
India jumped 30 spots to 100 in World Bank's ease of doing business rankings. How do you feel it has improved at ground?
According to the FISME Factor, as India jumped 30 spots to 100 in World Bank's ease of doing business rankings, 62.5 percent of Micro, Small & Medium Enterprises feel it has improved at ground while 37.5 percent think otherwise.
“HR needs to take risks, bets, right calls & be accountable,” Rattan Chugh, CPO, Times Internet
Rattan Chugh, an engineer by design and a true HR professional by default, has close to three decades of experience with global organisations, ranging from startups to leading multinationals.
Kinara Capital raises funds worth $14.5 million, MSME lending on the agenda
Eyeing at facilitating credit to the Micro, Small and Medium Enterprises of the country, Kinara capital announced that it has raised funds worth $ 14.5 million to be extended to the MSMEs in the form of loans.
Current Digital Marketing Trends that can Help Startups Scale up Their Businesses
Digital marketing has rapidly changed the way of conducting business since its introduction. It’s not an unknown fact that every company aims at creating a strong digital presence in this day and age along with rigorous traditional marketing.
Industry in Punjab demands reduction in fixed power charges
The representatives of trade and industry has urged Punjab State Power Corporation Limited (PSPCL) to cut down the fixed charge component of the two-part tariff approved by Punjab State Electricity Regulatory Commission (PSERC) for bicycle and parts manufacturing units.
How Nirvana Being is protecting Delhi residents from alarming levels of air pollution
As winter sets in, the national capital is in the news again. Since the start of this week, the city has been covered with a thick blanket of smog as pollution levels breached permissible standards.
The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, has revised the Base Year of the Consumer Price Index (CPI) from 2010=100 to 2012=100 with effect from the release of indices for the month of January 2015
According to the FISME Factor, 57.1 percent of Micro, Small & Medium Enterprises think that RBI decision to keep the reverse repo rate unchanged (5.57%) will positively impact MSME while 22.2 percent think this decision will negatively impact MSME and 20 percent can’t say.
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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The economy has not yet come out of the twin shocks of demonetisation and GST. Though the normalcy is returning, it is too slow and not painless. The 23rd meeting of GST council did make efforts to smoothen the rough edges of GST by bringing many items from peak GST rate slab of 28% to that of 18% and 12%. It would bring relief to many. However, reduction in number of slabs itself and finding a way to easily and quickly set off the input tax credit remain a few sore points. MSMEs’ complain that they have to bear additional burden of financing the GST component also when billed to large buyers because of long payment cycles, has merit. A suggestion that companies having turnover above 100 Crore, could be asked to deduct GST and deposit like TDS, might alleviate their pain. The point is please don’t suffer alone. Let’s share and continue to find and suggest solutions to Government in the way of implementation of GST. "
The 3rd Meeting of the Intellectual Property Facilitation Centre for MSMEs,was organised recently by the Federation of Indian Micro and Small & Medium Enterprises (FISME) in the national capital.
The meeting was chaired by Vijay Kumar, Director MSME Development Centre, New Delhi.
Members present included Dr. P D Kaushik, Pro- Vice Chancellor, Tirthankar Mahavir University, Moradabad and Anil Bhardwaj Secretary General FISME
The Committee discussed the challenges faced by MSMEs in identifying their intellectual properties and protecting them appropriately.
The I P facilitation centres were promoted by the Ministry of MSME to create awareness among MSMEs about intellectual property rights, support them in protecting IPRs and also study the IP protection scenario.
With Insolvency and Bankruptcy Board of India (IBBI), FISME and South Gujarat Chamber of Commerce & Industries organized a stakeholder consultation workshop in Surat (Gujarat) on 6th Nov 2017. Dr. Mamta Suri, Executive Director of IBBI made the presentation. The workshop was part of series of consultations FISME organized on the issue in Lucknow, Ludhiana and other places. After having finalized the Rules for Corporates, the IBBI has prepared a draft of Rules meant for individuals in business i.e. partnerships and proprietorship firms.
While young founders have all the poise and promise needed to start a company, there are some experiences and information you simply cannot replace with hustle. First-time founders often have to spend a great deal of time overcoming their naivety, as they overestimate their likelihood of success while underestimating the amount of work ahead of them.
Services export of India remained flat at USD 13.73 billion in September year-on-year while import slightly picked up to USD 8.45 billion, showed RBI data.
In September 2016, India had exported services worth USD 13.77 billion. The import grew 1.7 per cent from USD 8.30 billion last year.
In August 2017, the services export was USD 13.7 billion while the import came in at USD 8.66 billion.
Cumulatively, the services export during April-September read USD 80.33 billion. Import of services was valued at USD 46.74 billion in the first half of the fiscal, showed the data on India's International Trade in Services released by the Reserve Bank of India (RBI).
India's industrial production growth slowed in September from a nine-month high in August, although the key capital goods and consumer nondurables sectors reported a healthy performance, indicating some strength in laggard areas.
Output, as measured by the Index of Industrial Production (IIP), rose 3.8% in September, compared with an upward revised 4.5% in August, data released by the government showed. The preliminary estimate for August industrial growth was 4.3%.
Minerals worth at least Rs 50,000 crore can be auctioned from 13-15 blocks in the remaining four months of the current fiscal with the upcoming proposed amendments in the auctioning rules, a top official of the Ministry of Mines said.
These 13-15 mines could include limestone, iron ore, emerald and molybdenum among others.
"We would like the progress to pick up. We are certainly hoping that we will easily cross the Rs one lakh crore figure for the current year, with new 13-15 blocks expected in the remaining four months of FY18," Union Mines secretary Arun Kumar said here last evening.
The government is considering amending its insolvency law to prevent existing promoters of bankrupt companies from reacquiring them during the resolution process at a steep discount.
The current Insolvency and Bankruptcy Code, passed last year, does not prevent promoters from bidding for these stressed assets during the resolution process. Some owners are reported to be getting ready to stake a claim for these assets when they are put up for sale by the creditors.
The power intensive aluminium industry, facing huge coal shortages industry has sought intervention from the PMO to direct coal India and other companies to provide the committed quantity of coal.
Aluminium Association of India (AAI), in a letter to PMO AAI has said that the investment of Rs.1.2 lakh crore in the aluminium sector has been holding a debt of Rs. 70,000 crore with the employment for 7.5 lakh people at a very critical risk due to coal shortage.
The lifting of PMLA (Prevention of Money Laundering Act) on 6 October has brought relief to the gems and jewellery companies and the consumers. The stock prices have soared and business have started flourishing again, All India Gems and Jewellery Trade Federation informed.
Earlier on 23 August, PMLA notification was rolled out that required the dealers in precious metals, stones and other high-value goods, to maintain a record of all transaction of value exceeding Rs10 lakh and all cross-border wire transfers of more than Rs5 lakh. Also, the sale of gold above Rs.50,000 required customers to furnish PAN (permanent account number) or Aadhaar card to the jeweller.
Punjab Chief Minister Capt. Amarinder Singh unveiled 'Punjab Industrial and Business Development Policy 2017' at 6th Invest North 2017 investment conclave and announced 100 per cent exemption from SGST in thrust sectors like high-tech manufacturing, apparel and made-ups, technical textiles, footwear and accessories, food processing, electronics, electronic service industry.
The new industry policy aims to promote the MSME sector in Punjab, the key highlights of the policy include 100 crore funds to promote start ups, decrease in industry power tariff to Rs.5 per unit and simplify the business registration and licensing process.
In order to promote the handicrafts and indigenous crafts in Uttar Pradesh, state government is planning to start full-time job oriented courses in the UP Institute of Design by 2019.
Kshipra Shukla, chairperson of the UP Institute of Design in a press statement said that the institute had been planning to start proper and full-time courses from the UP Institute of Design, Lucknow, by 2019. The institute would offer undergraduate degree, post-graduate degree and PG diploma courses to the students.
Eyeing at facilitating growth among the Micro, Small and Medium Enterprises of the region, MSME Minister Giriraj Singh recently laid the foundation stone of an extension project in Godda.
The project aims to set up extended facility for the Fragrance & flavour development centre (FFDC) ,Kannauj in Godda region of Jharkhand.
Also with the facility coming up, newer technology in the field is expected to bloom in the establishment , providing fresh impetus to the sector.
Bureau of Energy Efficiency (BEE) Director-General Abhay Bhakre assured the Andhra Pradesh Government that the necessary support would be extended to the government for implementing various ‘energy-efficiency programmes’ in MSME (Micro,Small and Medium Enterprises) sector.
Addressing the media, Bhakre highlighted the importance of adoption of energy-efficiency technology in MSMEs and said that the MSMEs had huge potential to successfully adopt the energy efficient measures. The Director-General added that there are 4,000 MSME clusters across the country and among them 180 are energy intensive, consuming 22.7 million tonnes oil equivalent of energy.
The 4th India-Canada Ministerial Dialogue on Trade and Investment was concluded in New Delhi yesterday.The Indian Delegation was led by the Minister for Commerce and Industry, Suresh Prabhu while the Canadian side was headed by the Minister for International Trade, François-Philippe Champagne.
During the talks, both countries recognised the potential and scope of bilateral trade and discussed issues related to investment and trade.
A 70-member Australian delegation headed by Martin Hamilton-Smith, minister for investment and trade at the South Australian government, will meet with state governments in India negotiating and proposing tie-ups in water conservation, defence, technology in healthcare, premium wine and food as well as art.
The first of such initiatives is likely to be a proposal for a centre of research on water conservation in Maharashtra, said Smith.
India and Philippines on Monday signed four Memorandum of Understanding (MoUs) in different fields to boost their bilateral relations including Micro, Small and Medium Enterprises (MSMEs).
Both countries exchanged MoUs on cooperation in the field of micro small and medium enterprises,defense, agriculture and related fields and foreign services. Preeti Saran, Secretary (East) in India's Ministry of External Affairs said that four agreements has been signed between India and Philippines, including ones on defense cooperation , logistics, agriculture and on micro small and medium enterprises.
Eyeing at strengthening relation between the two nations, a Chinese delegation recently met Haryana Chief Minister Manoharlal Khattar showing its keen interest to invest in the fields of industrial infrastructure, steel industry, electronic and automobile projects in Haryana.
Haryana has emerged as the one of the most preferred investment destinations for China in India, said the Vice-Governor, Wang Xiaodong who led a delegation from Hubei Province of China and met Haryana’s chief minister Manohar Lal Khattar.
According to the FISME Factor, as India jumped 30 spots to 100 in World Bank's ease of doing business rankings, 62.5 percent of Micro, Small & Medium Enterprises feel it has improved at ground while 37.5 percent think otherwise. 
Rattan Chugh, an engineer by design and a true HR professional by default, has close to three decades of experience with global organisations, ranging from startups to leading multinationals.
Eyeing at facilitating credit to the Micro, Small and Medium Enterprises of the country, Kinara capital announced that it has raised funds worth $ 14.5 million to be extended to the MSMEs in the form of loans.
Digital marketing has rapidly changed the way of conducting business since its introduction. It’s not an unknown fact that every company aims at creating a strong digital presence in this day and age along with rigorous traditional marketing.
The representatives of trade and industry has urged Punjab State Power Corporation Limited (PSPCL) to cut down the fixed charge component of the two-part tariff approved by Punjab State Electricity Regulatory Commission (PSERC) for bicycle and parts manufacturing units.
As winter sets in, the national capital is in the news again. Since the start of this week, the city has been covered with a thick blanket of smog as pollution levels breached permissible standards.
Anyone who has lived away from home for work or study understands the hassle of booking tickets, be it bus, train or flight.
“ When everything seems to be going against you, remember that the airplane takes off against the wind, not with it. ”
