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President's Message
The good news is that the Government is putting an ‘urgent’ flag on procurement from MSMEs by the PSUs and other agencies. At the recently held ‘MSME Samwad’ conclave organised by the Ministry of MSME, a separate session was allotted to the problems MSMEs are facing in public procurement and their possible solutions. The point of great concern is having no wherewithal to invest in Brand building and supply chains, a large majority of the manufacturing , so far, has relied on public supplies, and to be fair, Government has also issued instructions from time to time regarding reservation of items for purchase from MSMEs, exemption from tender fee etc. And the public procurement policy for MSMEs reserved 20% of all procurement by each procuring agencies from MSMEs. However, the recent changes in the rules of the game are automatically crowding out the MSMEs from Government contracts. With the Government in a development mode, outlays on projects have scaled up a lot which in effect means that procurement of materials and services by agencies like Railways, Power, Highways etc. have shot up. But as most of the projects these days are being outsourced on Turn-Key basis, the purchase of goods and services is made by the Turn-Key contractors to whom the project may be awarded. As the ownership of these projects is of Govt agencies the mandate of 20% purchase from MSMEs should apply to the turnkey contractors also who may be executing these projects for the PSUs/Govt agencies with public money; otherwise the purpose of public procurement policy from MSMEs point of view will largely be defeated. Accordingly the Government should take a page out of the procurement policy of U S Government, where the tier 1 contractors are also required to procure a specified percentage from the SMEs, and implement it in India. "
FISME, the leading federation of MSMEs, recently submitted a set of suggestions to the Government for promotion of Fintech Industry.
This was in response to the invitation by the Steering Committee constituted by the Government to develop a support eco- system for the sector.
Fintech or Financial Technology companies are a recent breed of start-ups who are distinctly separate from other technology companies. Business model of these companies is to provide financial transactions with minimum time lag and costs. Fintech companies are named so as they leverage technology infrastructure of alternative data, cloud computing, mobile internet, vertical search engine services etc.
In spite of being exciting, walking through the entrepreneurial terrain can be quite overwhelming. The whole journey is nothing less than a rocky road where one has no one but themselves to take the onus of every decision. Most people, as they head on to test the water with their business idea make a lot of mistakes in the journey. While the idea is to quickly learn, unlearn and grow, it’s always intelligent to learn from the mistakes of others and avoid making the same ones.
Over a year after its enactment, the Insolvency and Bankruptcy Code has kicked off more debates and controversy than meaningful resolution for stressed asset.
Last year, the RBI had referred the first set of 12 large stressed assets for resolution under IBC. Of this, only one case involving Electrosteel Steels has been resolved, with banks writing off over 60 per cent of their dues. While the government has been more active amending the law, the teething trouble is quite evident.
In a bid to facilitate information among the Micro, Small and Medium Enterprises (MSMEs) with regard to the new policy changes in the Credit Guarantee Fund Trust for Micro and Small Enterprises scheme (CGTMSE), the government has issues notification to MSMEs and industry associations.
“CGTMSE has always been responsive and pro-active organisation to enhance the ease of access to credit by MSEs. In a latest revision, CGTMSE has introduced major policy changes”, the notification reads.
As many as four Non-Banking Financial Companies (NBFCs) have surrendered their certificates of registrations to the Reserve Bank of India (RBI).
RBI said these NBFCs shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934.
Kolkata, West Bengal based Pallavi Resources Limited and Mendarian Enterprises Limited and Chennai, Tamil Nadu based Mithra Investments and Business Syndicate Private Limited and Angirasa Holdings & Business Syndicate Private Limited have surrendered their certificates.
Representing the Indian side, RBI Governor Urjit Patel on behalf of Finance Minister Arun Jaitley during his statement at International Monetary and Financial Committee in Washington DC said that the country is on right track and is expecting boost in exports and newer investments.
Patel said that though the real GDP moderated to 6.6 per cent from 7.1 per cent in the previous fiscal, the country observed a strong rebound in the second half of the year facilitated by a turnaround in investment demand.
In an attempt to protect the domestic industry, the government has launched an anti-dumping investigation on the import of epoxy resins originating from China, EU, Taiwan and Thailand.
The probe comes as a response to the complaints raised by the domestic manufacturers in India, submitting an application to the Directorate General of Anti-dumping and Allied Duties (DGAD) for launching of anti-dumping investigation and imposition of the duty on the item.
In a bid to bring transparency in cross national transactions, the CBDT invites comments and suggestions of stakeholders and general public on Draft Rules and Forms under Action 5 of Base Erosion and Profit Shifting (BEPS).
According to CBDT, Form 34 C and 34 D (forms of advance rulings) are required to be amended so that details such as name, address and country of residence of non-resident’s immediate parent company or ultimate parent company etc. are captured at application stage itself.
NITI Aayog will soon seek applications for Atal New India Challenge under which it will invite prospective innovators/MSMEs/start-ups to design market-ready products, using cutting edge technologies or prototypes across 17 identified focus areas.
Under the challenge, grants of upto Rs 1 crore will be given along with mentorship to the winning ideas. “Under the Atal New India Challenge, which shall be run in collaboration with five ministries, AIM will invite prospective innovators/MSMEs/start-ups to design market-ready products, using cutting edge technologies or prototypes across 17 identified focus areas such as Climate Smart Agriculture, Smart Mobility, Predictive Maintenance of Rolling Stock, Waste Management etc,” the Aaoyog said in a release.
The government is planning to announce the new industrial policy soon which would promote MSME sector in the fastest way, said Minister of Commerce and Industry and Civil Aviation, Suresh Prabhu adding that the global value chains will be enhanced.
Prabhu was addressing at the first ever International SME Convention held in the national capital.
"We will soon announce the details of a new industrial policy that is being worked upon by this government. We hope to promote SMEs in the fastest way, aiming at enhancing the global supply chain,” said Prabhu.
Industry body All India Plastic Industries Association (AIPIA) in a letter to the Ministry of Finance and Reserve Bank have urged the government to consider increasing transfer limit through the online Immediate Payment Service (IMPS).
The banks both nationalised and private banks are closed for over 95 days in a year including weekends and gazetted holidays, due to which the industry and the transactions are left to suffer, the association said.
The Directorate General of Foreign Trade (DGFT) has restricted export of Yellow Peas from India for a period of three months.
The curb held cut down cheaper imports and boost local prices. Last year, the government had imposed 50 per cent import duty on yellow peas. Other pulses, however, attract zero duty.
In a notification, the authority said Yellow Peas (Pisum Sativum) has been restricted d for exports from 01st April to 30th June, 2018 and subject to Policy Condition 4 of this Chapter.
In a bid to handhold the Micro, Small and Medium Enterprises (MSMEs) of the state, Haryana Chief Minister Manohar Lal Khattar on Monday announced reduction in power tariff for the sector.
The Micro, Small and Medium Enterprises (MSMEs) having connected load up to 20 KW would now have to pay 4.75 rupees per unit as against to the previous tariff of 6.65 rupees per unit. The announcement is to be implemented from May 1, 2018.
The industries based in Jammu, especially the micro, small and medium enterprises (MSME) units, have hailed the extension of DIPP Package of Incentives to them.
The incentives will be provided to the industries located in J&K from June 15, 2017 to March 2022 period. It will be provided to new units and existing units under substantial expansion.
“The Incentives was granted to all new industrial units and existing industrial units undertaking substantial expansion in manufacturing sector and services sector including Bio-technology and Hydel Power Generation Units up to 10 MW located in the State of Jammu & Kashmir,” Federation of Industries Jammu (FOIJ) said.
The Bihar Industries Department has selected as many as 53 ventures that it will hand-hold under the start-up policy.
The state government also launched an upgraded website through which the prospecting entrepreneurs can apply for the scheme.
Chief Minister Nitish Kumar led Bihar Government had set up a trust with an initial corpus of Rs 500 crore to act as the nodal agency for implementation of the Bihar Start-up Policy 2017, which will be operational for five years.
The Orissa State Government has eased the norms of tender process for startup entrepreneurs to improve ease of doing business by exempting the startups from Earnest Money Deposit.
Seeing the hurdles and challenges being faced by local startups and MSMEs, the state government has exempted the MSMEs and startups as defined under para-7 (vi) and certified by Nodal Agency in para-7(v) of Odisha Startup Policy-2016 from deposit of earnest money while participating in tenders of Government departments and agencies under its control.
India and Mongolia today discussed economic cooperation in areas such as infrastructure development, energy, services and IT and agreed to explore possibility of launching direct air connectivity between New Delhi and the Mongolian capital Ulaanbaatar.
External Affairs Minister Sushma Swaraj during a joint media briefing with Mongolian Foreign Minister D Tsogtbaatar after the 6th Session of the Indian-Mongolia Joint Committee on Cooperation here said the two countries agreed to explore ways to identify new areas of cooperation in all sectors of mutual interest and to enhance bilateral trade and investments.
With a view to discuss means and ways to enhance bilateral relations between India and Barbados in the areas of investment, taxation, connectivity, logistics, MSME, agro processing and capacity building, extensive discussions were held between both the countries.
To decide the way forward to enhance bilateral relations between India and Barbados, Union Minister of Corporate Affairs P.P. Chaudhary called on various senior Ministers of the Government of Barbodas which included Commerce & Small Business Development of the Barbados Donville Inniss and Minister of Foreign Affairs and Foreign Trade Maxine McClean.
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) organized an Indo-German Programme for Vocational Education and Training (IGVET) in the national capital today.
A joint initiative of GIZ and Ministry of Skill Development, IGVET applies cluster based approach for promoting cooperative workplace-based VET in India. The project draws its inspiration from the German Dual VET model. German Dual VET system is one of the most successful VET model across the globe.
To boost strong strategic partnership between India and Vietnam, Dang Dinh Quy, the Vice Foreign Minister of Vietnam met External Affairs Minister Sushma Swaraj.
The discussions on the comprehensive partnership between the two countries and the plan of action to further expand and boost ties were held.
Both the countries agreed to boost ties in Defence and trade considering them as an effective and important pillar of comprehensive strategic partnership between India and Vietnam to intensify ties.
Asian Development Bank (ADB) has projected India's economic growth to 7.3% in 2018-19 fiscal. Do you agree with it?
According to the FISME Factor, 100 per cent of Micro, Small & Medium Enterprises agree with the Asian Development Bank (ADB) projection of India's economic growth to 7.3% in 2018-19 fiscal.
Many workplaces follow a mundane routine, making the environment boring. People seek spice in their life. A recent research suggests that some anxiety at workplaces is essential to boost productivity among employees.
If people aren’t anxious, it is probably because they are not motivated enough to do the job or simply don’t care about performance.
Julie McCarthy from the Department of Management at the University of Toronto Scarborough and the Rotman School of Management, says, “If you have too much anxiety, and you’re completely consumed by it, then it’s going to derail your performance. On the other hand, moderate levels of anxiety can facilitate and drive performance.”
Different types of business loans that you can go for
Business needs are different and this means when you are looking to raise debt, there can be a range of options available to you. We list a few types of loans that you can consider when looking for money. The list is not exhaustive, but should give you a fair idea about the choices.
Marketing has always been about establishing a relationship with customers and opening up channels of communication so that well-crafted messages can be delivered to the right demographic. Thanks to disruptive technologies and the pervasive internet, the marketing approach of yesteryears has evolved quite rapidly from time - and resource-intensive productions to nimble and dynamic campaigns. The art of reaching customers has added new dimensions, making lives for businesses more demanding and dynamic.
MSMEs in Madhya Pradesh complain differential treatment in ‘single-window clearance’ facility
The Micro, Small and Medium Enterprises (MSMEs) in the state of Madhya Pradesh have raised that they are not treated equally when it comes to availing the single window clearance facility.
Talking to KNN, Laghu Udhyog Bharti (LUB) State General Rajesh Mishra said that the MSMEs are discriminated when they approach the authority for services through single window clearance facility.
This agri startup is solving labour shortage, helping farmers to become micro-entrepreneurs
Uneven access to modern technology, smaller landholdings, non-availability of labour or increase in labour cost, and decrease in profit are some of the main reasons for the reduction in agricultural productivity in India.
With the aim to solve the labour crunch in the farming sector through large scale mechanisation, Vishwajeet Sinha founded Oxen Farm Solutions. The startup brings innovation and advanced technology to farmers at an efficient and pay per use ‘Farming as a Service’ (FaaS) model, similar to the Ola and Uber services.
How two 21-year-olds made Rs 20 crore in 2 years selling t-shirts
Praween KR (from Bihar) and Sindhuja K (from Hyderabad) were students when the entrepreneurial bug bit. In their seventh semester of the knitwear design bachelor’s course at National Institute of Fashion Technology, Chennai, the duo decided that they wanted to do something of their own, on their own.
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.
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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The good news is that the Government is putting an ‘urgent’ flag on procurement from MSMEs by the PSUs and other agencies. At the recently held ‘MSME Samwad’ conclave organised by the Ministry of MSME, a separate session was allotted to the problems MSMEs are facing in public procurement and their possible solutions. The point of great concern is having no wherewithal to invest in Brand building and supply chains, a large majority of the manufacturing , so far, has relied on public supplies, and to be fair, Government has also issued instructions from time to time regarding reservation of items for purchase from MSMEs, exemption from tender fee etc. And the public procurement policy for MSMEs reserved 20% of all procurement by each procuring agencies from MSMEs. However, the recent changes in the rules of the game are automatically crowding out the MSMEs from Government contracts. With the Government in a development mode, outlays on projects have scaled up a lot which in effect means that procurement of materials and services by agencies like Railways, Power, Highways etc. have shot up. But as most of the projects these days are being outsourced on Turn-Key basis, the purchase of goods and services is made by the Turn-Key contractors to whom the project may be awarded. As the ownership of these projects is of Govt agencies the mandate of 20% purchase from MSMEs should apply to the turnkey contractors also who may be executing these projects for the PSUs/Govt agencies with public money; otherwise the purpose of public procurement policy from MSMEs point of view will largely be defeated. Accordingly the Government should take a page out of the procurement policy of U S Government, where the tier 1 contractors are also required to procure a specified percentage from the SMEs, and implement it in India. "
FISME, the leading federation of MSMEs, recently submitted a set of suggestions to the Government for promotion of Fintech Industry.
This was in response to the invitation by the Steering Committee constituted by the Government to develop a support eco- system for the sector.
Fintech or Financial Technology companies are a recent breed of start-ups who are distinctly separate from other technology companies. Business model of these companies is to provide financial transactions with minimum time lag and costs. Fintech companies are named so as they leverage technology infrastructure of alternative data, cloud computing, mobile internet, vertical search engine services etc.
In spite of being exciting, walking through the entrepreneurial terrain can be quite overwhelming. The whole journey is nothing less than a rocky road where one has no one but themselves to take the onus of every decision. Most people, as they head on to test the water with their business idea make a lot of mistakes in the journey. While the idea is to quickly learn, unlearn and grow, it’s always intelligent to learn from the mistakes of others and avoid making the same ones.
In a bid to facilitate information among the Micro, Small and Medium Enterprises (MSMEs) with regard to the new policy changes in the Credit Guarantee Fund Trust for Micro and Small Enterprises scheme (CGTMSE), the government has issues notification to MSMEs and industry associations.
“CGTMSE has always been responsive and pro-active organisation to enhance the ease of access to credit by MSEs. In a latest revision, CGTMSE has introduced major policy changes”, the notification reads.
As many as four Non-Banking Financial Companies (NBFCs) have surrendered their certificates of registrations to the Reserve Bank of India (RBI).
RBI said these NBFCs shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934.
Kolkata, West Bengal based Pallavi Resources Limited and Mendarian Enterprises Limited and Chennai, Tamil Nadu based Mithra Investments and Business Syndicate Private Limited and Angirasa Holdings & Business Syndicate Private Limited have surrendered their certificates.
Representing the Indian side, RBI Governor Urjit Patel on behalf of Finance Minister Arun Jaitley during his statement at International Monetary and Financial Committee in Washington DC said that the country is on right track and is expecting boost in exports and newer investments.
Patel said that though the real GDP moderated to 6.6 per cent from 7.1 per cent in the previous fiscal, the country observed a strong rebound in the second half of the year facilitated by a turnaround in investment demand.
In an attempt to protect the domestic industry, the government has launched an anti-dumping investigation on the import of epoxy resins originating from China, EU, Taiwan and Thailand.
The probe comes as a response to the complaints raised by the domestic manufacturers in India, submitting an application to the Directorate General of Anti-dumping and Allied Duties (DGAD) for launching of anti-dumping investigation and imposition of the duty on the item.
In a bid to bring transparency in cross national transactions, the CBDT invites comments and suggestions of stakeholders and general public on Draft Rules and Forms under Action 5 of Base Erosion and Profit Shifting (BEPS).
According to CBDT, Form 34 C and 34 D (forms of advance rulings) are required to be amended so that details such as name, address and country of residence of non-resident’s immediate parent company or ultimate parent company etc. are captured at application stage itself.
NITI Aayog will soon seek applications for Atal New India Challenge under which it will invite prospective innovators/MSMEs/start-ups to design market-ready products, using cutting edge technologies or prototypes across 17 identified focus areas.
Under the challenge, grants of upto Rs 1 crore will be given along with mentorship to the winning ideas. “Under the Atal New India Challenge, which shall be run in collaboration with five ministries, AIM will invite prospective innovators/MSMEs/start-ups to design market-ready products, using cutting edge technologies or prototypes across 17 identified focus areas such as Climate Smart Agriculture, Smart Mobility, Predictive Maintenance of Rolling Stock, Waste Management etc,” the Aaoyog said in a release.
The government is planning to announce the new industrial policy soon which would promote MSME sector in the fastest way, said Minister of Commerce and Industry and Civil Aviation, Suresh Prabhu adding that the global value chains will be enhanced.
Prabhu was addressing at the first ever International SME Convention held in the national capital.
"We will soon announce the details of a new industrial policy that is being worked upon by this government. We hope to promote SMEs in the fastest way, aiming at enhancing the global supply chain,” said Prabhu.
Industry body All India Plastic Industries Association (AIPIA) in a letter to the Ministry of Finance and Reserve Bank have urged the government to consider increasing transfer limit through the online Immediate Payment Service (IMPS).
The banks both nationalised and private banks are closed for over 95 days in a year including weekends and gazetted holidays, due to which the industry and the transactions are left to suffer, the association said.
The Directorate General of Foreign Trade (DGFT) has restricted export of Yellow Peas from India for a period of three months.
The curb held cut down cheaper imports and boost local prices. Last year, the government had imposed 50 per cent import duty on yellow peas. Other pulses, however, attract zero duty.
In a notification, the authority said Yellow Peas (Pisum Sativum) has been restricted d for exports from 01st April to 30th June, 2018 and subject to Policy Condition 4 of this Chapter.
In a bid to handhold the Micro, Small and Medium Enterprises (MSMEs) of the state, Haryana Chief Minister Manohar Lal Khattar on Monday announced reduction in power tariff for the sector.
The Micro, Small and Medium Enterprises (MSMEs) having connected load up to 20 KW would now have to pay 4.75 rupees per unit as against to the previous tariff of 6.65 rupees per unit. The announcement is to be implemented from May 1, 2018.
The industries based in Jammu, especially the micro, small and medium enterprises (MSME) units, have hailed the extension of DIPP Package of Incentives to them.
The incentives will be provided to the industries located in J&K from June 15, 2017 to March 2022 period. It will be provided to new units and existing units under substantial expansion.
“The Incentives was granted to all new industrial units and existing industrial units undertaking substantial expansion in manufacturing sector and services sector including Bio-technology and Hydel Power Generation Units up to 10 MW located in the State of Jammu & Kashmir,” Federation of Industries Jammu (FOIJ) said.
The Bihar Industries Department has selected as many as 53 ventures that it will hand-hold under the start-up policy.
The state government also launched an upgraded website through which the prospecting entrepreneurs can apply for the scheme.
Chief Minister Nitish Kumar led Bihar Government had set up a trust with an initial corpus of Rs 500 crore to act as the nodal agency for implementation of the Bihar Start-up Policy 2017, which will be operational for five years.
The Orissa State Government has eased the norms of tender process for startup entrepreneurs to improve ease of doing business by exempting the startups from Earnest Money Deposit.
Seeing the hurdles and challenges being faced by local startups and MSMEs, the state government has exempted the MSMEs and startups as defined under para-7 (vi) and certified by Nodal Agency in para-7(v) of Odisha Startup Policy-2016 from deposit of earnest money while participating in tenders of Government departments and agencies under its control.
India and Mongolia today discussed economic cooperation in areas such as infrastructure development, energy, services and IT and agreed to explore possibility of launching direct air connectivity between New Delhi and the Mongolian capital Ulaanbaatar.
External Affairs Minister Sushma Swaraj during a joint media briefing with Mongolian Foreign Minister D Tsogtbaatar after the 6th Session of the Indian-Mongolia Joint Committee on Cooperation here said the two countries agreed to explore ways to identify new areas of cooperation in all sectors of mutual interest and to enhance bilateral trade and investments.
With a view to discuss means and ways to enhance bilateral relations between India and Barbados in the areas of investment, taxation, connectivity, logistics, MSME, agro processing and capacity building, extensive discussions were held between both the countries.
To decide the way forward to enhance bilateral relations between India and Barbados, Union Minister of Corporate Affairs P.P. Chaudhary called on various senior Ministers of the Government of Barbodas which included Commerce & Small Business Development of the Barbados Donville Inniss and Minister of Foreign Affairs and Foreign Trade Maxine McClean.
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) organized an Indo-German Programme for Vocational Education and Training (IGVET) in the national capital today.
A joint initiative of GIZ and Ministry of Skill Development, IGVET applies cluster based approach for promoting cooperative workplace-based VET in India. The project draws its inspiration from the German Dual VET model. German Dual VET system is one of the most successful VET model across the globe.
To boost strong strategic partnership between India and Vietnam, Dang Dinh Quy, the Vice Foreign Minister of Vietnam met External Affairs Minister Sushma Swaraj.
The discussions on the comprehensive partnership between the two countries and the plan of action to further expand and boost ties were held.
Both the countries agreed to boost ties in Defence and trade considering them as an effective and important pillar of comprehensive strategic partnership between India and Vietnam to intensify ties.
According to the FISME Factor, 100 per cent of Micro, Small & Medium Enterprises agree with the Asian Development Bank (ADB) projection of India's economic growth to 7.3% in 2018-19 fiscal. 
Many workplaces follow a mundane routine, making the environment boring. People seek spice in their life. A recent research suggests that some anxiety at workplaces is essential to boost productivity among employees.
If people aren’t anxious, it is probably because they are not motivated enough to do the job or simply don’t care about performance.
Julie McCarthy from the Department of Management at the University of Toronto Scarborough and the Rotman School of Management, says, “If you have too much anxiety, and you’re completely consumed by it, then it’s going to derail your performance. On the other hand, moderate levels of anxiety can facilitate and drive performance.”
Business needs are different and this means when you are looking to raise debt, there can be a range of options available to you. We list a few types of loans that you can consider when looking for money. The list is not exhaustive, but should give you a fair idea about the choices.
Marketing has always been about establishing a relationship with customers and opening up channels of communication so that well-crafted messages can be delivered to the right demographic. Thanks to disruptive technologies and the pervasive internet, the marketing approach of yesteryears has evolved quite rapidly from time - and resource-intensive productions to nimble and dynamic campaigns. The art of reaching customers has added new dimensions, making lives for businesses more demanding and dynamic.
The Micro, Small and Medium Enterprises (MSMEs) in the state of Madhya Pradesh have raised that they are not treated equally when it comes to availing the single window clearance facility.
Talking to KNN, Laghu Udhyog Bharti (LUB) State General Rajesh Mishra said that the MSMEs are discriminated when they approach the authority for services through single window clearance facility.
Uneven access to modern technology, smaller landholdings, non-availability of labour or increase in labour cost, and decrease in profit are some of the main reasons for the reduction in agricultural productivity in India.
With the aim to solve the labour crunch in the farming sector through large scale mechanisation, Vishwajeet Sinha founded Oxen Farm Solutions. The startup brings innovation and advanced technology to farmers at an efficient and pay per use ‘Farming as a Service’ (FaaS) model, similar to the Ola and Uber services.
Praween KR (from Bihar) and Sindhuja K (from Hyderabad) were students when the entrepreneurial bug bit. In their seventh semester of the knitwear design bachelor’s course at National Institute of Fashion Technology, Chennai, the duo decided that they wanted to do something of their own, on their own.
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Many of life's failures are people who did not realize how close they were to success when they gave up.
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