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  The FISME Factor  

 

President's Message
Dr. Sangam Kurade, President, FISMEWorld Bank’s Ease of Doing Business (EODB) report ranks countries on 10 parameters. Though it is neither very detailed nor adequately representative, it does provide a snap shot of the relative position of a country in global community with regards to regulatory eco-system. Modi Government gave a lot of importance to the ranking and started the work. India recorded massive jump last year leapfrogging 30 points to reach in top100. However, all of us know, the real action is in the States. That is why World Bank and DIPP, Ministry of Commerce started Business Reform Action Plan rankings. This year, not only was weightage given to the reforms carried out by the States but also to the feedback given by beneficiaries about their impact. Competition among states to improve business environment is a healthy trend. One important observation is: things tend to improve more when the top leadership takes up ownership for the reforms. There is a need however, of institutionalizing, process of improving regulations through mechanism such as Regulatory Impact Assessment (RIA). It is much better and easier to improve ‘quality’ of legislation before they come into force through a rigorous participatory process than reversing the ill- affects once they are imposed. This is what FISME and CUTS have suggested to in the ‘Better Regulatory Advisory Group’ (BRAG) set up by DIPP. We hope to see some traction on the issue of RIA soon. "
Mr. Dinesh Chandra Tripathi, President, FISME
Vol VI, Issue 159: July 15, 2018
Activities
FISME President addresses on GST Day celebrations
Business Banter: Lessons from Entrepreneurs
7 Ways to Make Your Startup Stand Out in a Competitive Industry
Macro Metre
GST Council proposes slew of changes in the GST law to make it business friendly
Exporters can obtain license for repeat orders of SCOMET items under much simpler process: DGFT
Domestic Digest
FSSAI enlists 15 food safety auditing agencies to conduct audits of FBO in India Knowledge and News Network (KNN)
CODISSIA demands single window clearance for MSMEs, incentives and measures to check raw material prices
MSME registration not mandatory to avail delayed payment protection: Delhi High Court
State Scan
Rajasthan MSMEs to get financial facilitation from SMERA Knowledge and News Network (KNN)
Uttar Pradesh to ban plastic from July 15: Yogi Adityanath
Andhra Pradesh tops on ease of doing business ranking of states
World Watch
India and Afghanistan sign a joint venture agreement for import of Saffron from Afghanistan
KITS signs MoU with 2 Taiwanese Science Parks for skill development, encouraging start-ups & MSMEs
Knowledge Store
With AstuEco, these two entrepreneurs aim to replace plastic with Areca nut tableware
...And A Lot More

 
Text of
Speech of President FISME
On GST Day 1st July 2018 in New Delhi

Activities

FISME President addresses on GST Day celebrations

President FISME Shri Dinesh Chandra Tripathi addressed the delegates on the occasion of GST day as part of GST celebrations organized by Ministry of Finance, Government of India and GST Council on 1st July 2018 in New Delhi. The chief guest during the function was Shri Piyush Goyal, acting Finance Minister besides the Revenue Secretary Shri Hasmukh Adhia and the entire team of senior officials related to GST. Shri Arun Jaitley also addressed the delegates through video conferencing. FISME President was among the five speakers invited to speak on behalf of business and industry namely CII, FICCI, ASSOCHAM, PHD and FISME. He described the day as the rare occasion when ‘governments- both of the center and the states, businesses – large or small, and other stakeholders wholeheartedly and genuinely feel proud of a shared achievement’. He highlighted the challenges the MSME sector was facing due to shortage of working capital post GST. He also asked for pruning the list of exceptions which disallow GST input credit on a range of business expenses.
Business Banter: Lessons from Entrepreneurs

7 Ways to Make Your Startup Stand Out in a Competitive Industry

In a booming world, the competition continually demands to be number one. It’s challenging to stand out as a startup in industries like technology, food, and medicine. Efficient differentiation is one of the many challenges that small scale companies generally face, as they are forced to compete against big corporations. Although it is challenging, it is not impossible to develop the business in the competitive world. So, entrepreneurs need to fight tooth and nail to get their startups into the spotlight. Let’s look at the seven ways to help your startup stand out from the crowd.
Writing on the Wall

How to push India’s competitiveness

A majority of the world’s nations suffer from the inability to align the motives of business with that of their citizens, and therefore lack competitiveness. The question is what does competitiveness really mean? Is it just good performance of the businesses or is it inclusive of the social progress of the citizens?...

Media Monitor

Macro Metre

GST Council proposes slew of changes in the GST law to make it business friendly

In a bid to make a year old Goods and Service Tax (GST) more business friendly and effective, the GST Council has proposed slew of amendments in the GST law. Under the proposed amendments, several genuine transactions which were earlier out of the bracket of input tax credit (ITC) will now be covered. The proposed changes allows the employers belonging from food and beverages, health services and travel benefits to claim ITC, provided it is mandated by law.

Exporters can obtain license for repeat orders of SCOMET items under much simpler process: DGFT

The time limit of two years from original authorisation has been enhanced to three years for availing the repeat order facility of SCOMET items for exporters. Now, exporters can obtain license for repeat orders of SCOMET items under much simpler process. The quantitative limit of two times of original authorisation and the cap of two repeat authorisations have been done away with, DGFT said in a tweet. DGFT, in a notification, has said, “Applications for grant of authorization for repeat orders to the applicant exporter for export of same SCOMET items to the same country/entities shall be approved by Chairman IMWG, without any consultation with IMWG members.”

India ranks at 57th position in Global Innovation Index

India has improved its rank in the index of the world’s most innovative nation from 60th position last year to 57th position this year as per the Global Innovation Index (GII). Though ranked at 57, India is a top performer in the lower middle income group, where it is ranked at fifth position. It is the most innovative country in its region of central and southern Asia. In the indicators that capture the quality of innovation inputs and outputs, India is ranked second after China in the lower and upper middle income group combined.

Government approves hike in MSP of Kharif Crops

In a bid to double farmers’ income, the government has approved the hike in minimum support price for Kharif Crops for the year 2018-19. The government has made the substantial increase in the minimum support price (MSP) of most kharif crops, which will cost the exchequer more than Rs 15,000 core, said home minister Rajnath Singh. The move to hike the MSP of Kharif crop was in line with announcement made by finance minister Arun Jaitley to fix the MSP for all crops at least one and half times of their production cost while presenting the budget 2018-19.

Lenders may be allowed to change NCLT bench

Lenders may be allowed to change National Company Law Tribunal benches if they face prolonged delays in insolvency resolution cases, according to a proposal being worked out by the ministry of corporate affairs. About 90% of the cases referred to the tribunal under Insolvency and Bankruptcy Code are being handled by benches in New Delhi and Mumbai, which has caused the process to slow down. The ministry proposes to allow banks to make a request to shift a case from one bench to another after getting the consent of all involved parties. It is also looking for ways to quicken the resolution process, which often gets delayed due to routine legal formalities.

Domestic Digest

FSSAI enlists 15 food safety auditing agencies to conduct audits of FBO in India

In a bid to strengthen the food safety surveillance system and assuring safe food to the consumers, FSSAI will undertake the audits of Food Business Operators through private auditing agencies/third party. This move of third party food safety audits has been taken to reduce the burden on the regulatory inspections conducted by Central or State Licensing Authorities In this regard FSSAI has enlisted 15 food safety auditing agencies which have been granted provisional recognition as food safety auditing agencies under draft Food Safety and Standards (Food Safety Auditing) Regulations, 2017.

CODISSIA demands single window clearance for MSMEs, incentives and measures to check raw material prices

The small industries of Coimbatore have demanded single window clearance for all approvals for MSMEs like land conversion. The demands were made during the Annual General of industry body CODISSIA held here recently. CODISSIA said the State and Central Governments should provide subsidies to MSMEs for expansion and modernisation along with marketing assistance to take part in the national and international trade fairs, both, as participants and visitors. The entrepreneurs highlighted that the prices of raw materials for MSMEs have escalated 35% after implementation of GST. The Government should intervene and stabilise the raw material prices at pre-GST levels.

MSME registration not mandatory to avail delayed payment protection: Delhi High Court

Finally the confusion over the case where the micro, small and medium enterprises (MSMEs), that are not registered under the MSMED Act at the time of execution of the contract, can be treated as supplier or not ,is over. A bench of Delhi High Court has held that registration of MSMEs under MSMED Act is not mandatory to avail benefits under the act. There has been ambiguity since long regarding the applicability of the MSMED Act, 2006 in cases where the entities were not registered under the MSMED Act at the time of execution of the contract.

SIDBI targets to lend Rs 1.40 trillion to MSME units

With a view to facilitate MSMEs financially, the Small Industries Development Bank of India (SIDBI) is targeting total lending of almost Rs 1.40 trillion during the current fiscal year. Compared to total advances of Rs 1.09 trillion during 2017-18, this would be a growth of over 30% for MSME lending. Besides, to tap the large un-quantified lending in the informal or un-organized sector, the central refinance agency is also working on its roadmap to facilitate micro and small industries by providing cheaper credit.
State Scan

Rajasthan    

Rajasthan MSMEs to get financial facilitation from SMERA

The Rajasthan PHD Chamber of Commerce & Industry has tied up with SME Rating Agency of India (SMERA) to financially facilitate Micro, Small and Medium Entrepreneurs (MSMEs). This was said by PHDCCI President Anil Khaitan at the inauguration ceremony of the PHDCCI’s Rajasthan State Chapter in Jaipur. Speaking at the occasion, Khaitan said that the MSME sector is the second largest employment creator in the country after agriculture.

Uttar Pradesh    

Uttar Pradesh to ban plastic from July 15: Yogi Adityanath

Uttar Pradesh Chief Minister Yogi Adityanath today said that his government has decided to ban the use of plastic in the state from July 15. He was addressing during Van Mahotsav 2018 celebration in Barabanki. He appealed people to stop using plastic cups, glass, polythene after July 15. “We have decided to come out with a notification to ban the use of plastic in the state. I urge the people to stop using plastic cups, glass, polythene after July 15,” Adityanath said.

Madhya Pradesh    

Madhya Pradesh to begin its Startup India Yatra on July 16

After successful completion of Startup India Yatra in states like Gujarat, Uttar Pradesh, Odisha and Uttarakhand, the Madhya Pradesh leg of the government’s Startup India Yatra will begin on July 16, 2018. Aiming to spread awareness about startup India and Madhya Pradesh Startup Policy, the Startup India Yatra van will begin its journey from the state capital Bhopal, covering 10 districts and 15 institutions over a span of 30 days. The van is expected to travel to nearly 25 colleges, and one-day boot camps will be conducted in all the destinations.

Andhra Pradesh    

Andhra Pradesh tops on ease of doing business ranking of states

For the second year in a row, Andhra Pradesh has topped the list of states in ease of doing business, according to a report prepared by the World Bank and the Department of Industrial Policy and Promotion (DIPP). Its neighboring state Telangana secured second position with a score of 98.33%, followed by Haryana and Jharkhand. Gujarat secured 5th position in the state ranking list on ease of doing business, with a score of 97.96 percent. The top 5 states have been titled the top achievers for the year 2018 while the achievers list of the ranking includes states Chhattisgarh (6th position), Madhya Pradesh (7th position), Karnataka (8th position) and Rajasthan (9th position).
World Watch

Afghanistan    

India and Afghanistan sign a joint venture agreement for import of Saffron from Afghanistan

A Joint Venture agreement was signed between two trading companies Red Gold of Afghanistan and Generous Treasures of India for import of Saffron from Afghanistan and retailing it in India under new brand. The two countries India and Afghanistan signed the agreement at an inaugural ceremony of two day meet titled ‘’MADE IN AFGHANISAN: NATURE'S BEST’ which opened in New Delhi on July 13, 2018.
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Australia    

Australia releases India economic strategy, aims to give big push to bilateral trade

Australia released an unprecedented India economic strategy on Thursday, which aims to put substance into a growing strategic relationship between the two countries. The lead author of the strategy, Peter Varghese, former foreign secretary and envoy to India had been tasked with this project by the Australian prime minister Malcolm Turnbull. The economic strategy paper comes soon after the foreign policy white paper by the Australian government, which made a big space for relations with India, pushing India to among Australia’s top strategic partnerships.
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Taiwan    

KITS signs MoU with 2 Taiwanese Science Parks for skill development, encouraging start-ups & MSMEs

To promote bilateral exchanges in the field of artificial intelligence and robotics, Karnataka Innovation and Technology Society (KITS) has signed a MoU with two Taiwanese Science Parks. The MoU would facilitate mutual exchange of faculty from identified academic institutes to learn new technologies and industry's best practices. It would further enhance the technological know-how through mutual development and innovation and institutionalize the industrial collaboration mechanism. The agreement will be mutually beneficial to both Karnataka and Taiwan as it will enhance skill development, mutual industry facilitation and encourage startups and MSMEs, said Principal Secretary, IT/BT and ST Department, Gaurav Gupta.
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Korea    

Giriraj Singh inaugurates India-Korea technology centre at NSIC for MSMEs

Giriraj Singh, Minister of State for MSME and Hong Jong Haak, Minister of SMEs and Start-ups of Republic of South Korea jointly inaugurated India-Korea Technology Exchange Centre at National Small Industries Corporation (NSIC). An MoU was also signed between Small Business Corporation (SBC)of South Korea and NSIC for cooperation in the field of MSMEs. The SBC will mobilize the South Korean MSMEs for technical and business alliances with their counterparts in India and organize partner matching events in Korea for Indian delegations. Speaking at the occasion, Singh said that this will create a new era of association between India and Korea in the field of growth of MSMEs.
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Upcoming Events

TAIPEI PLAS 2018 – 16th Edition Edition (Taipei International Plastics & Rubber Industry Show)

Date: 14-18 August 2018
Venue: Taipei Nangang Exhibition Center, Taipei, Taiwan
View Details
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

India International Garment Fair

Date: 16-18 Jul 2018
Venue: India Exposition Mart, Greater Noida
See Details

Indian Fashion Jewellery & Accessories Show

Date: 16-18 Jul 2018
Venue: India Exposition Mart, Greater Noida
See Details

National Garment Fair

Date: 16-19 Jul 2018
Venue: Mumbai Exhibition Centre, Mumbai
See Details

Force Protection

Date: 18-19 Jul 2018
Venue: Manekshaw centre, New Delhi
See Details

Water Expo-Jaipur

Date: 19-21 Jul 2018
Venue: Jaipur Exhibition & Convention Centre, Jaipur
See Details

Indian Dj Expo

Date: 19-21 Jul 2018
Venue: Pragati Maidan, New Delhi
See Details

Sign India Delhi

Date: 20-22 Jul 2018
Venue: Pragati Maidan, New Delhi
See Details

International Agarbatti & Perfume Expo

Date: 21-22 Jul 2018
Venue: Pragati Maidan, New Delhi
See Details

International Conference on Electrical, Electronics & Computer Science

Date: 22 Jul 2018
Venue: Hampshire Plaza, Hyderabad
See Details

INDUS-tech industrial expo

Date: 25-27 Jul 2018
Venue: Ark Hotel & Convention Center, Rudrapur
See Details

PackPlus

Date: 25-28 Jul 2018
Venue: Pragati Maidan, New Delhi
See Details

Medicall Chennai

Date: 27-29 Jul 2018
Venue: Chennai Trade Centre, Chennai
See Details
Your Views

After one year of GST implementation, do you think that the GST is better than the earlier tax system?

After one year of GST implementation, according to FISME factor 87.5 per cent of MSME thinks that the GST is better than earlier tax system while 12.5 per cent think it is not.
Knowledge Store

HR Heuristics

Top 5 essential skills for a recruiter

Recruiters have a crucial role to play in any organisation because they are responsible for getting the right talents that help in the growth of the organisation. The workplace scenario has seen a lot of changes in recent years.

Finance Fundamentals

How to scale-up your startup by Bootstrapping?

In this bandwagon of Investors, funding is latest buzz and trend. More than anything else it has become good PR strategy. As soon as any startup raises funds it comes in limelight and becomes the talk of the town. It takes a lot of efforts to attract Investors and get VC on the board.

Marketing Mantras

Why Customer Experience Should be Priority For Every Startup

If I had a nickel for everytime someone has said something like this to me, I would be swimming in coins, Uncle Scrooge style. It’s an obvious question with an obvious answer, which sadly, skips most startups’ attention.

Policy Polemic

3% GST on gold procurement hampering exports; refund process should be speeded up

Gem and Jewellery Export Promotion Council's (GJEPC) Chairma Pramod Agarwal has urged the government to speed up the refund process as the jewellery industry is facing an issue of non realization of Goods and Service Tax (GST) paid.

SME Special

With AstuEco, these two entrepreneurs aim to replace plastic with Areca nut tableware

Plastic is everywhere. In bags to carry shopping, jars of personal care products, containers to store dry foods, plates to microwave food in, bottles to drink water from…the list is endless. Plastic pollution may well be one of the greatest environmental challenges of our time. The theme for World Environment Day 2018 - Beat Plastic Pollution - was a call to action for everyone to band together and kick plastic out from our lives.

Success Story

Using Artificial Intelligence for the good of farmers

Aibono offers real-time precision agriculture services to fruit and vegetable growers After graduating from IIT-Madras, the first thing that Vivek Rajkumar did was to buy four acres near Thiruvananthapuram and start farming. He was trying to cultivate paddy and grow banana.

Stockpile

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the The Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of May 2018.

Quotable Quotes

“ Success seems to be connected with action. Successful people keep moving. They make mistakes, but they don't quit. ”
– Conrad Hilton - American Hotel Tycoon & the founder of the Hilton Hotels chain
 
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

4 New Members Join FISME

During the period from 1st July 2018 to 15th July 2018 a total of 4 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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Editorial Team:
Hon. Editor: Anil Bhardwaj
Asstt. Editor: Kalpana Sharma
Types setting & websdesigning: Sanjay Sachan  
Video & Photography:  Vipul Kumar Chettry

 

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