If you are unable to view this mailer, click here.

 

  The FISME Factor  

 

President's Message
Dr. Sangam Kurade, President, FISMEImmediately after taking over in 2014, one of the major initiatives of the Modi Government has been to improve India’s position in ‘Ease of Doing business’ rankings. It worked doggedly, pushed the bureaucracy to identify pain points and then iron out the issues both in center and states. The result has been spectacular: India is catapult from the place of 140s to be in top 100s- unprecedented jump. Another around of annual exercise is near conclusion. One area that needs conceptual understanding is the need to make a distinction between a Limited- but not listed company and a Limited – as well as listed company. The regulatory compliance for the former has be eased substantially as concerns like public shareholder interests are not present in the case. Therefore, such requirements as the need for a specific number of independent directors, women directors, cost audits etc should be done away with. These provisions put a huge burden on non-listed but limited companies majority of whom are SMEs. In the on-going round of EODB discussions, FISME vociferously raised the issue in the committee and expect an early relief. "
Mr. Dinesh Chandra Tripathi, President, FISME
Vol VI, Issue 161: August 15, 2018
Business Banter: Lessons from Entrepreneurs
You Won't Survive as an Entrepreneur Treating Your Business Like a Hobby
Macro Metre
Government to initiate anti-profiteering measures against traders for not passing the GST rate cuts benefits to consumers
Govt introduces 4 GST amendment bills to help MSMEs
Domestic Digest
Defense Ministry to buy defense products from MSMEs for a period of 10 years: Sitharaman Knowledge and News Network (KNN)
KASSIA setting up centre of excellence and innovation at Mumbai-Banglore Industrial Corridor to facilitate MSMEs
Niryat Mitra App launched to help exporters with wide range info
State Scan
266 startups recognized under Startup Odisha initiative Knowledge and News Network (KNN)
Mission for Economic Empowerment of Traditional Artisans/Craftsman to be launched in Manipur to push self employment
TTAADC appoints skill development service provider to train 425 indigenous youths of Tripura
World Watch
Govt postpones deadline for imposition of tariff on 29 US products till Sept 18
University of California Berkeley partners with Quantela to set-up Smart City Accelerator and Innovation Centers in India
Knowledge Store
Bringing the effect of 5 kg of fertiliser into a 5-gm membrane
...And A Lot More

FISME’s representation before GST Council

Business Banter: Lessons from Entrepreneurs

You Won't Survive as an Entrepreneur Treating Your Business Like a Hobby

Growing up, our parents taught us to choose a career path that we enjoy. To love what we do. That teaching has carried over into our adult lives and is essentially what we strive for in our careers. According to the Pew Research Center, 49 percent of working Americans are unsatisfied in their jobs. Furthermore, The Balance reports that the average worker changes jobs 10-15 times in their career.
Writing on the Wall

Moving up the ‘ease of doing business’ rankings

Decentralisation of decision-making powers, consolidation of rules, and risk-based exemptions hold the key It was assuring to hear Prime Minister Narendra Modi encouraging industry to rejuvenate animal spirits in the economy. The last four years have seen the government take a series of measures to improve India’s position in the World Bank’s ‘Doing Business’ ranking. The process adopted by the government has been inclusive and rigorous, which has resulted in India going up significantly, from 130 to 100, in the Doing Business 2018 ranking. However, as we strive to go higher up in the ranking, the depth of reforms would have to be proportionately higher.

Media Monitor

Macro Metre

Government to initiate anti-profiteering measures against traders for not passing the GST rate cuts benefits to consumers

The central government has decided to initiate anti-profiteering measures against the traders who are not passing the benefits of recent GST rate cuts on to the consumers. In a recent advisory, the Central Board of Indirect Taxes and Customs (CBIC) has advised the stakeholders to assist the GST officers in ensuring that the benefit of reduced GST is passed on to the consumers. "If benefits of reduced GST rates are not passed on, affected consumer(s) may file the application, before the Standing Committee on Anti-profiteering if the profiteering has all-India character, OR before the State level Screening Committees if the profiteering is of local nature,” the Board said.

India doubles import duty on more than 300 textile products to protect domestic industries

In a bid to protect domestic textile sector from cheaper imports, government of India has announced the 20% import duty on more than 300 textile products. India doubled the import tax from the existing rate of 10% to 20% to boost the ailing textile sector, promote local manufacturing and create employment opportunities. The move came after the recommendation from the textile ministry, which had said that local manufacturing is suffering due to cheaper imports from China and other neighboring countries.

India’s Services PMI rose to 54.2 in July; shows 2nd straight month of growth and fastest since October 2016

The Nikkei India Services PMI rose to 54.2 in July, 2018 from 52.6 in the previous month. It was the second straight month of growth in the services sector and the fastest since October 2016. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction. New orders grew the most since June 2017, employment went up at the strongest rate since April and sentiment towards the 12-month outlook picked up from June’s recent low.

GST council might merge two GST rates into single slab: Sushil Modi

The GST Council might consider merging the rates of 12 per cent and 18 per cent into a single slab of 14-15 per cent, depending on stabilization. This was said by chairman of GST implementation committee Sushil Modi while speaking at a seminar on GST organized by the Institute of Chartered Accountants of India ICAI. For a country like India, he said, it was not possible to have a single GST rate. “The number of items under the 28 per cent category may also be reduced but the states would be able to impose cess or surcharge on sin and luxury goods,” he added.

Govt introduces 4 GST amendment bills to help MSMEs

The government of India on Tuesday introduced four bills in Lok Sabha to amend the Goods and Service Tax (GST) laws to make the return forms simpler and raise the threshold for availing composition scheme to Rs 1.5 crore. Introducing the Bill, Finance Minister Piyush Goyal said the Central GST (Amendment) Bill, the Integrated GST (Amendment) Bill, the GST (Compensation to States) Amendment Bill and the Union Territory GST (Amendment) Bill are primarily aimed to help MSME sector and small traders.

Domestic Digest

Defense Ministry to buy defense products from MSMEs for a period of 10 years: Sitharaman

Eyeing to improve indigenous defense manufacturing units, Defense Minister Nirmala Sitharaman assured the MSMEs dealing in manufacturing of defense products that the government will purchase their products for a period of 10 years. She was speaking during the inauguration of the first phase of Uttar Pradesh defense industrial corridor in Aligarh which is one of the six nodal points of defense production corridors in UP that would pass through six districts namely Aligarh, Agra, Jhansi, Kanpur, Lucknow and Chitrakoot.

KASSIA setting up centre of excellence and innovation at Mumbai-Banglore Industrial Corridor to facilitate MSMEs

Eyeing to promote, support and guide the Micro, Small and Medium Enterprises (MSMEs) of the region, Karnataka Small Scale Industries Association (KASSIA) has embarked on an ambitious project of setting up the KASSIA Centre of Excellence and Innovation at Dobbaspet on the Mumbai-Bangalore Industrial Corridor, close to the National Industrial manufacturing Zone on the NH-4. The Centre is conceived with a view to help the micro and small industries acquire the necessary competitive edge by providing advanced facilities for technology up-gradation as well as marketing, skill development and exhibition facilities under one roof.

Logo Infosoft launches GST compliant mobile ERP App ‘Vyapari’ for MSMEs and trader community

Logo Infosoft, a technology leader in providing GST compliant business solutions to MSMEs in India, launched its easy-to-use mobile ERP application ‘Vyapari’ for MSMEs and trader community that facilitates recording and processing of all kinds of accounting transactions. This user friendly application will make life easier for 100 thousand MSMEs by delivering seamless processing of business data and providing accuracy for chartered accountants (CAs) to file taxes in a timely manner.

Niryat Mitra App launched to help exporters with wide range info

The Niryat Mitra app launched by Commerce and Industry Minister Suresh Prabhu provides wide range of information required to undertake international trade right from the policy provisions for export and import, applicable GST rate, available export incentives, tariff, preferential tariff, market access requirements – SPS and TBT measures. The app is available both on Android and on IOS platforms. The most interesting part is that all the information is available at tariff line. The app works internally to map the ITC HS code of other countries with that of India and provides all the required data without the users bothering about the HS code of any country. Presently the app comes with the data of 87 countries.

Coimbatore associations raise concern over possibility of traders registering themselves as MSEs due to turnover criteria

Several industry associations from Coimbatore have jointly urged the District Collector to recommend the Union Minister for MSME to impart suitable corrections in certain clauses of the Micro, Small and Medium Enterprises Development (Amendment) Bill, 2018. A joint petition in this regard was submitted by the Coimbatore Compressor Industries Association, Coimbatore Sidco Industrial Estate Manufacturers’ Welfare Association, Coimbatore Wet Grinder Manufacturers’ Association and Laghu Udyog Bharati, Coimbatore.
State Scan

Odisha    

266 startups recognized under Startup Odisha initiative

With the addition of few more startups, the number of startups recognized under the startup Odisha initiative has gone up to 266, informed Startup Secretariat at the 9th meeting of Task Force of Startup Odisha. The meeting was chaired by LN Gupta, Additional Chief Secretary MSME. Extending support to startups, the Task Force sanctioned product development & marketing assistance of Rs.10 lakhs each to M/s. Medtel Healthcare Pvt. Ltd. and Maiestas Technologies Pvt. Ltd.

Andhra Pradesh    

AP govt to develop 11 sector specific MSME parks

Taking efforts in the direction of supporting and promoting MSMEs in the state, Andhra Pradesh government has targeted to develop 11 sector specific MSME Parks in 6 districts of which the state has already acquired land for 10 parks. The government considers the MSMEs as the drivers of growth and plans to establish an MSME Park in each assembly constituency, said Siddhart Jain, Commissioner of Industries in a press release. Out of the 175 parks, the government has land for 42 in 13 districts, he added.

Manipur    

Mission for Economic Empowerment of Traditional Artisans/Craftsman to be launched in Manipur to push self employment

The Mission for Economic Empowerment of Traditional Artisans/Craftsman (Meetac) will be launched in Manipur very soon, said Thongam Biswajit Singh, Textiles, Commerce & Industries Minister. Addressing the fourth National Handloom Day celebrations, he said “The main objective of the mission is to help attain self-employment and inclusive development besides economic empowerment of traditional artisans/craftsmen of the state and providing a market for finished products." The program was organized by the directorate of handlooms and textiles, government of Manipur. Highlighting the significance of National Handloom Day which commemorates the Swadeshi Movement of 1905, Biswajit Singh said the day is observed every year to promote products of weavers, artisans and craftsmen of Manipur.

Tripura    

TTAADC appoints skill development service provider to train 425 indigenous youths of Tripura

Tripura Tribal Areas Autonomous District Council (TTAADC) has appointed a skill development service provider to train 425 indigenous youths of the state. The chief executive member of the council, Radhacharan Debbarma, said, "We will train 425 youths to ensure better job opportunities for them.” All India Society for Electronics and Computer Technologies, a skill development service provider, will start training them soon, he added.
World Watch

United States of America    

Govt postpones deadline for imposition of tariff on 29 US products till Sept 18

Government of India has postponed the imposition of import duty on 29 US products by 45 days till September 18 because of ongoing discussion between the two countries to resolve trade disputes. This decision for extension of retaliatory measures for another 45 days was taken based on suggestion of Union Commerce Ministry. It also comes after some positive expectations from ongoing talks between two countries as they are wrapping up negotiations on mutually-acceptable trade package for boosting India-US trade through greater market access.
Read More    Back to Top

University of California Berkeley partners with Quantela to set-up Smart City Accelerator and Innovation Centers in India

In a bid to address the challenges faced by corporates, governments and startups on smart cities, the Innovation Acceleration Group, University of California, Berkley has collaborated with Technology Company Quantela and Invest India to set up a smart city accelerators and innovation centers in India. This partnership will help the technologically driven Indian startups in areas such as smart mobility and smart power, which are important for smart cities, said Deepak Bagla, MD and CEO-Invest India.He said that the Indian Government’s initiative to create more than 100 smart cities is unprecedented in the World and provides immense opportunities for tech start-ups. “Start-up India Hub, with its pan-India membership, is likely to help entrepreneurs in not only the metros, but tier-II and tier-III cities too,” added Bagla. Commenting over this partnership, Sridhar Gadhi, Founder and CEO, Quantela, said, “Our aim is to create a start-up ecosystem focused on creating solutions to curb growing urban challenges.”
Read More    Back to Top
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

Conference on Aerospace & Defence Manufacturing Technologies Southern Region

Date: 17 Aug 2018
Venue: ITC GRAND CHOLA, Chennai
See Details

Construction Architecture Interior Expo

Date: 17-19 Aug 2018
Venue: Hitex Exhibition Center, Hyderabad
See Details

Times Asia Jewels Fair

Date: 17-19 Aug 2018
Venue: Shangri-La, Bengaluru
See Details

Renewable Energy India Expo

Date: 18-20 Sep 2018
Venue: ndia Exposition Mart, Greater Noida
See Details

GARTEX INDIA

Date: 18-20 Aug 2018
Venue: Pragati Maidan, New Delhi
See Details

Medicall Expo

Date: 21-23 Sep 2018
Venue: Pragati Maidan, New Delhi, India
See Details

World Renewable Energy Technology Congress & Expo

Date: 21-23 Aug 2018
Venue: Pravasi Bharatiya Kendra, New Delhi
See Details

India International Fashion Jewellery & Accessories Show

Date: 21-24 Aug 2018
Venue: Mumbai Exhibition Centre, Mumbai
See Details

PharmaTech Expo

Date: 22-24 Aug 2018
Venue: Gujarat University Convention and Exhibition Centre (GUCEC), Ahmedabad
See Details

Cosmo Tech Expo, New Delhi

Date: 23-24 Aug 2018
Venue: Pragati Maidan, New Delhi
See Details

Cablewire

Date: 23-24 Aug 2018
Venue: Le Meridien New Delhi, New Delhi
See Details
Your Views

Do you think that annual turnover is the right criteria rather than investment to classify MSMEs?

According to FISME factor, 60 per cent of Micro, Small & Medium Enterprises think that annual turnover is the right criteria rather than investment to classify MSMEs while 40 per cent of thinks it is not.
Knowledge Store

HR Heuristics

Employee engagement to employee well-being: How SMEs can create a happy workplace

There are several studies that correlate high levels of employee engagement with a host of positive outcomes in the organizational context. These include: 1. Higher Productivity 2. Lower levels of absenteeism and turnover 3. Higher quality 4. Better safety adherence and others.

Finance Fundamentals

How to get a better deal for your business loan

If you run a business, chances are you will need to take a business loan at some point in time. However, it is important to get a good deal on your loan and ensure you do not end up with an unfavourable arrangement.

Marketing Mantras

Small in size, large in ambition: Marketing strategies to help build a brand

SMEs play a key role in the economic development of a country, not just by being the largest segment of Indian industries, but also providing employment at a local level.

Policy Polemic

VAT refunds still pending in Punjab; industrialists facing acute working capital crunch

It has been more than a year of the Goods and Services Tax (GST) implementation, but refunds of the previous tax regime (Value Added Tax) are still pending with the Punjab taxation department.

SME Special

Bringing the effect of 5 kg of fertiliser into a 5-gm membrane

Theirs is one more of the growing number of laboratory research projects getting translated into a business proposition. Kavitha Sairam, a doctorate in biotechnology from IIT-Madras, and Anant Raheja, a doctorate in nano-fibres also from IIT-Madras, have co-founded Fib-Sol Life Technologies Pvt Ltd

Success Story

How this 89-year-old fueled her passion for making potli bags with her own online venture

No matter how old you are, it’s never too late to follow your passion, and 89-year-old Latika Chakravorty is proving that age is just a number by setting an example of pursuing her passion for making potli (bundle) bags.

Stockpile

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.

Quotable Quotes

“ Always think outside the box and embrace opportunities that appear, wherever they might be. ”
– Lakshmi Mittal-Chairman & CEO of ArcelorMittal
 
Country Chronicles
 
FISME regularly receives monthly reports on the economies of various countries from their missions in India. These reports provide information on key economic parameters, trade related information and all news relevant for importers and exporters. In this edition you can take a look at reports on:
Starting a New Venture
 
Coming August, K J Somaiya Institute of Management Studies and Research located in Vidyavihar, Mumbai is launching a certificate programme on Creating New Ventures.
New Members

3 New Members Join FISME

3 new MSME join FISME from 1st August 2018 to 15th August 2018
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.
send mail to: newsletter@fisme.org.in
   Bach to Top
Opportunities
Editorial Team:
Hon. Editor: Anil Bhardwaj
Asstt. Editor: Kalpana Sharma
Types setting & websdesigning: Sanjay Sachan  
Video & Photography:  Vipul Kumar Chettry

 

You are receiving this Newsletter because you are included in our mailing list of recipients who are involved or interested in FISME or Indian MSMEs. You are welcome to partly or fully reproduce and disseminate the contents of this publication provided that you acknowledge the source.

To subscribe/unsubscribe to this Newsletter
click subscribe or unsubscribe

This Newsletter is edited by the FISME Secretariat. We welcome contributions as well as comments and suggestions. Please write to newsletter@fisme.org.in
Federation of Indian Micro and Small & Medium Enterprises (FISME)
Headquarter: B – 4 / 161, Safdarjung Enclave, New Delhi – 110029
Telephone: +91 11 26187948, +91 11 26712064, +91 11 46023157   Fax: +91 – 11 – 26109470
Email: info@fisme.org.in ,   Website: www.fisme.org.in
Bangalore
57/5, Family YMCA Building,
Millers Road, Benson Town,
Bangalore - 560046
Tel: +91-80-23543589
Email: bangalore@fisme.org.in
Hyderabad
H. No. 6-3-569 / 1/2/4
2nd floor, Rockdale Compound, Somajiguda
Hyderabad – 500082
Tel: +91- 40- 23322117 Fax: +91 -40- 23312116
Email: hyderabad@fisme.org.in
 
Jhandewalan
Tel: +91- 11- 4364 2013
Email: chamber.jw@fisme.org.in
Mahipalpur
Tel: +91 -11- 46035866
Email: chamber.mpur@fisme.org.in
Kalkaji
Tel: +91 -11- 4106 8644
Email: kalkaji@fisme.org.in