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  The FISME Factor  

 

President's Message
Dr. Sangam Kurade, President, FISMEMany people speculate that from April 2018, the Union Government would soon get into the election mode and initiatives on economic reforms will take a back seat. Sure, election results of North East where the ruling NDA has captured power in three states and a debacle in UP and Bihar by-elections, have the media and corridors of power buzzing with political activity. But, being engaged with Government at several levels, I have a different view. I feel, there is movement in many areas such as Labour and Ease of Doing Business. Ministers have increased the pace of interaction with stakeholders and are seeking specific and nuanced suggestions to effect change which is effective and visible. In FISME, we shall use every opportunity provided by this receptivity to push reforms that would make doing business easy for MSMEs. I would also urge my colleagues in associations to sharpen our arguments and leverage the election time to achieve our goals. "
Mr. Dinesh Chandra Tripathi, President, FISME
Vol VI, Issue 151: March 15, 2018
Activities
MSME Secretary holds talks with Associations on Insolvency Code Review
Business Banter: Lessons from Entrepreneurs
The essentials: 5 things you must do for your startup to succeed
Macro Metre
WPI cools to 7-month low of 2.48% in February
India's April-January non-basmati rice exports jump 34 per cent year on year: Govt body
Domestic Digest
Govt speeding up input tax refund to exporters: MoS Shiv Pratap Shukla Knowledge and News Network (KNN)
Over 100 startups receive finance under ‘Funds of Funds’: C R Chaudhary
Nirmala Sitharaman invites private enterprises in Defence Sector
State Scan
MSMEs on decline in the Pune Region: Report Knowledge and News Network (KNN)
Rs 200 crore allocated for MSME sector in AP Budget; MSME Parks, MSME corp proposed
Implementation of e-distribution of Coal in Bihar under the aegis of mjunction
World Watch
Cabinet clears tax pact between India-Iran
Paris to host CF&B SmallCap Event for small and medium enterprises
Knowledge Store
How this 81-year-old entrepreneur is pioneering super-crop production in India
...And A Lot More

 

Activities

MSME Secretary holds talks with Associations on Insolvency Code Review

Eyeing at making the Insolvency and Bankruptcy Code (IBC) mechanism more comprehensive, the board along with the Micro, Small and Medium Enterprises (MSMEs) Ministry is holding a meeting on Tuesday 13th March. MSME associations including the Federation of Indian Micro and Small & Medium Enterprises (FISME) are attending the meeting today with MSME Secretary Dr Arun Kumar Panda. Earlier on Monday, a high level committee convened a meeting to explore the various aspects and amendments The Insolvency and Bankruptcy Code, 2016 (Code) provides for reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders and,
Business Banter: Lessons from Entrepreneurs

The essentials: 5 things you must do for your startup to succeed

The Indian startup ecosystem has accelerated over the last few years and come into its own, powered by factors such as funding, evolving technologies and an expanding domestic market. The progress of this thriving ecosystem has caught the attention of investors worldwide. According to the NASSCOM Startup Report 2017, India has seen an addition of over 1,000 startups over the year, strengthening its position as the third largest startup ecosystem globally. This takes the total number of technology startups to nearly 5,200. However, in midst of all this progress, a majority of startups in the country fail within the first few years of their initiation. Documented factors for failure being inadequate innovation, lack of skilled talent, poor formal training and insufficient funding among others.
Writing on the Wall

Signs of industrial recovery, at last

The latest figures suggest a welcome boom in the industrial economy, with growth trends perhaps the strongest in two decades. The Index of Industrial Production for January has risen acredible 7.5% (over the like period last year), with the growth notably buoyant for three successive months now. The newest figures show that growth has gone up by a handsome 8.7% in the all-important manufacturing segment, is upbeat in electricity and somewhat lacklustre in mining. Credit revival could sustain the momentum. Some of the present upside in industrial output a whole year and more after demonetisation may be due to the likely slump in production then, particularly in the informal sector. However, the growth seems broad-based: motor vehicles production is up by about 26%..

Media Monitor

Macro Metre

PM Modi expresses concern on restrictive clauses hindering public procurement; MSMEs demand anonymous complaint mechanism

The Prime Minister during a review meeting, expressed concern at the restrictive and discriminatory clauses being imposed against domestic manufacturers and suppliers in tender documents for public procurement. These observations were made during the course of review of the implementation of the Public Procurement (Preference to Make in India) (PPP-MII) Order, 2017. “While the Government of India is committed to ensuring that both quality and price considerations are not compromised, this should not lead to imposing conditions that result in unreasonable exclusion of domestic suppliers”, an official release said.

India’s apparel production on consistent decline, delay in RoSL - IGST refunds double whammy for MSMEs : AEPC

The apparel output in the country comprising of a fair share of Micro, Small and Medium Enterprises (MSMEs) have registered a decline of 10.4 per cent for the April-Jan 2017-18 period, something that the apparel sector have been fearing all along, Apparel Export Promotion Council (AEPC) said in a statement. AEPC said that the decline is seeming to be the new normal since May 2017. AEPC indicated earlier about the gradual decline in the production on account of the issues which have arose after the implementation of GST.

WPI cools to 7-month low of 2.48% in February

Lower inflation in fuel and food helped ease India’s wholesale inflation in February to a seven month low of 2.48%, data released on Wednesday showed. Wholesale price inflation (WPI) was 2.84% last month and 5.51% in February 2017. “The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group decreased from 1.65% in January, 2018 to 0.07% in February, 2018,” commerce and industry ministry said in a statement.

India's April-January non-basmati rice exports jump 34 per cent year on year: Govt body

India's non-basmati rice exports during April-January jumped 34 percent from a year earlier to 7.02 million tonnes as Bangladesh, Benin and Sri Lanka raised purchases, a government body said. The country's buffalo meat exports during the period rose 7.2 percent from a year ago to 1.16 million tonnes on good demand from Vietnam, Malaysia and Egypt, the Agricultural and Processed Food Products Export Development Authority said in a statement.

Government to get around Rs 8,044 crore of dividend from Coal India

The Centre is expected to get around Rs 8,044 crore on account of dividend from Coal India as the miner's board approved payment of interim dividend for the financial year 2017-18 at a rate of Rs 16.50 per share. The miner's total payout on account of this would be to the tune Rs 10,242 crore. "The Board of Directors of CIL (Coal India Ltd) in its meeting on Saturday, March 10, 2018 had approved payment of Interim Dividend for the financial year 2017-18 at the rate Rs 16.50 per share of the face value of Rs 10 as recommended by the Audit Committee of CIL in its meeting held on date," the miner said in a regulatory filing.

Domestic Digest

Govt speeding up input tax refund to exporters: MoS Shiv Pratap Shukla

Eying at speeding up mechanism, the government has decided to speed up input tax refund to exporters, Shiv Pratap Shukla, Minister of State for Finance, said in written reply to a question in Rajya Sabha today. The Minister informed that as per rule 91 of CGST Rules, 2017, ninety per cent of the refund amount claimed shall be granted on a provisional basis within a period not exceeding seven days from the date of acknowledgement of the refund claim. “Further, as per section 54(7) of the CGST Act, 2017, the final order for granting refund shall be issued within sixty days from the date of receipt of the complete application. Out of total taxpayers under GST, 64% were also registered under previous tax regime”, the Minister said.

Arbitration and Conciliation (Amendment) Bill 2018 gets cabinet nod

Eyeing at making institutional arbitration for settlement of disputes feasible, The Union Cabinet chaired by Prime Minister Narendra Modi approved the Arbitration and Conciliation (Amendment) Bill, 2018 for introduction in the Parliament. “It is a part of the efforts of the Government to encourage institutional arbitration for settlement of disputes and make India a centre of robust Alternative Dispute Resolution (ADR) mechanism”, a government release said.

Over 100 startups receive finance under ‘Funds of Funds’: C R Chaudhary

To extend support to startups in the Country, government of India set up Fund of Funds and as per the information received from parliament; under this scheme, more than 100 startups have received funding. In a written reply to Lok Sabha the Minister of State for Commerce and Industry CR Chaudhary said that the corpus of 10,000 crore under Fund of Funds for startups is to be released over two Finance Commission cycles, i.e., by the year 2025.

Nirmala Sitharaman invites private enterprises in Defence Sector

Speaking at the “International Conference on Military Ammunition: Make in India Opportunities and Challenges”, Defence Minister Nirmala Sitharaman, said there is a need of making Defence Public sector undertakings more dynamic. She said “Defence PSU’s and OFU’s require revitalization”. On appreciating the active participation of Private sector, she said “I encourage the private sector to come in the Defence sector because of the agility they have shown.” Speaking at the conference, she said the Ministry welcomes the new innovation by startups and industry that are useful for the forces and will lend full support to engage with them.
State Scan

Maharashtra    

MSMEs on decline in the Pune Region: Report

The recent Maharashtra Survey report has revealed a decline in employment in MSMEs and their operating units in the Pune. As per the economic survey 2017-18 report employment in MSMEs in Pune region was at 7.23 lakh last year while it was 10.05 lakh in the year 2014-15.During the same period, the number of MSMEs operating in the region reduced to 69,704 from 92,233 in 2014-15. The picture is positive for Nagpur, the region represented by chief minister Devendra Fadnavis and Union minister Nitin Gadkari.

Assam    

Assam Budget ‘18-19 makes a good case for MSMEs, region on track to economic growth: FINER

With the Chief Minister Sarbananda Sonowal led Assam government proposing the budget yesterday, the industry comprising primarily of the Micro, Small and Medium Enterprises (MSMEs) have welcomed the budget and is eyeing at the new outlay with hope for economic growth. Talking to KNN, R.S Joshi, Chairman of Federation of Industry & Commerce of North Eastern Region (FINER) said that the budget on an overall note is a fair one and it has taken into consideration the long pending demands of the MSME sector.

Arunachal Pradesh    

Rs 200 crore allocated for MSME sector in AP Budget; MSME Parks, MSME corp proposed

The Andhra Pradesh Government, in the state budget, has made several announcements to boost the MSME sector along with an allocation of Rs 200 crore for the sector. It has announced establishing a dedicated MSME corporation, MSME parks with plug-and-play facilities. In the MSME sector, 26,368 units have been established with investment of Rs.11,779 crore, providing employment to 3.09 lakh persons. “To further promote MSME, the Government will be establishing a dedicated MSME corporation. MSME parks with plug-and-play facilities are also planned in 175 assembly constituencies in a phased manner. An allocation of Rs.200 crore is proposed for MSME sector,”

Punjab    

Govt schemes not reaching sector, MSMEs in Punjab suffering: UCPMA

Despite the government schemes in place, the schemes are not reaching the intended group, due to which the Micro, Small and Medium Enterprises of the state are suffering, United Cycle and Parts Manufacturers Association (UCPMA) informed. Inderjit Singh Navyug, President, UPCMA said that there are several schemes announced for the MSMEs, still when it comes to actual realisation of the schemes on ground, the results are alarming.

Bihar    

Implementation of e-distribution of Coal in Bihar under the aegis of mjunction

Bihar State Mining Corporation (BSMC), a designated state-nominated agency recently has appointed the mjunction for implementation of e-distribution of coal in the state. Similar projects were already implemented in states like West Bengal and Maharashtra. In a statement mjunction said that e-distribution of coal will enable MSMEs in Bihar to buy coal from BSMC in a fair and a convenient manner without involvement of agents and middlemen. The aim behind implementation of e-distribution of Coal in Bihar is to eliminate middlemen and agents who exploit MSMEs and SMEs in the process of distribution of coal and make them vulnerable.
World Watch

Iran    

Cabinet clears tax pact between India-Iran

The Union Cabinet today cleared a double taxation avoidance agreement between India and Iran which will promote investment flow and curb tax evasion. The agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income between India and Iran was approved by the Cabinet, headed by Prime Minister Narendra Modi, an official statement said.
Read More    Back to Top

China    

India-China bilateral trade hits historic high of USD 84.44 bln in 2017

The India-China bilateral trade has reached USD 84.44 billion last year, an historic high notwithstanding bilateral tensions over a host of issues including the Doklam standoff. A rare novelty of the bilateral trade otherwise dominated by the Chinese exports was about 40 per cent increase of Indian exports to China in 2017 totalling to USD 16.34 billion, data of the Chinese General Administration of Customs accessed by PTI here showed.
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Paris    

Paris to host CF&B SmallCap Event for small and medium enterprises

CF&B Communication is organizing its 13th edition of the 'SmallCap Event' in Paris on April 16th and 17th, 2018. Selected SME’s travelling to European Financial Capitals will get an opportunity to meet the French and European institutional investors in Paris. "Non-stop meetings between listed companies and institutional investors will be held during the meet", the event website informed. In 2 day meet, the business managers of listed companies from Australia, Belgium, France, Germany, Italy, Spain, Sweden, Turkey and USA will present fund managers with their activity and perspectives in one-to-one meetings pre-organized by CF&B Communication.
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Mauritius    

India, Mauritius to hold trade talks next month

India and Mauritius will meet next month for talks to chalk out the contours of ‘economic cooperation’ under the trade agreement being discussed. India has sought tariff concessions on 400 items while Mauritius’ wish list comprises 600 products. “The negotiations are on right track...the agreement is of strategic importance to us,” said an official privy to details. The India Mauritius Comprehensive Economic Cooperation and Partnership Agreement or CECPA spans across four elements — goods, services, investment and economic cooperation.
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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

ABI Expo

Date: 16-18 Mar 2018
Venue: Chennai Trade Centre, Chennai
See Details

Krishimela - Himatnagar

Date: 15-18 Mar 2018
Venue: Naiya Party Plot, Piplikampa
See Details

International Conference on Materials Processing and Characterization

Date: 16-18 Mar 2018
Venue: Hyderabad
See Details

International Conference on Electrical, Electronics & Communication Engineering

Date: 18 Mar 2018
Venue: Kapila Business Hotel, Pune
See Details

The European Union General Data Protection Regulation Seminar

Date: 20 Mar 2018
Venue: Vivanta by Taj - M G Road Bangalore, Bengaluru
See Details

World Water Summit

Date: 22 Mar 2018
Venue: NDMC Convention Centre, New Delhi
See Details

Fuel and Urea Systems - Cars, Trucks and Two-Wheelers

Date: 21-22 Mar 2018
Venue: Sheraton Grand Pune Bund Garden Hotel, Pune
See Details

Chemicals and Plastic Exhibition

Date: 22-24 Mar 2018
Venue: Bombay Convention & Exhibition Centre (BCEC), Mumbai
See Details

Gem & Jewellery India International Exhibition

Date: 23-25 Mar 2018
Venue: Chennai Trade Centre, Chennai
See Details

Home Furniture Expo

Date: 23-25 Mar 2018
Venue: Hitex Exhibition Center, Hyderabad
See Details

RICE TECH EXPO - ASSAM

Date: 23-25 Mar 2018
Venue: Maniram Dewan Trade Centre, Guwahati
See Details
Your Views

India wins back fastest growing economy tag, grows at 7.2 per cent in Q3. Do you think that the growth will continue in coming months?

As India wins back fastest growing economy tag, grows at 7.2 per cent in Q3. According to the FISME Factor, 100 per cent of Micro, Small & Medium Enterprises think that the growth will not continue in months.
Knowledge Store

HR Heuristics

4 Tips for Writing an Effective Performance Review

Performance reviews are valuable for both the employee and the employer. It's a chance for managers to give praise for exceptional work and guidance for any shortcomings, and to have an open discussion about the future of the company and the potential for employee growth. However, giving a review is more complicated than just saying "nice job" or "needs improvement." If you want to inspire your employees to keep up with their work or do better, you'll need to dive deeper than the traditional review process.

Finance Fundamentals

How Can Small & Medium Businesses Reduce Bad Loans?

The Indian MSME sector that contributes for 37 per cent of the fastest-growing country's GDP and generates millions of jobs every year is now on the radar of the government. In a major impetus in the 2018 Union Budget, the Narendra Modi-led government attempted to address major issues faced by the small and medium sized entrepreneurs who form the backbone of the economy.

Marketing Mantras

10 Trends That Will Reshape Digital Marketing in 2018 and Beyond

Today, digital trends seem to be fashionably altering too rapidly to keep pace with. What's not keeping up is an organization's agility to adapt. Social platforms have made it imperative for marketers to be the first or be scrolled out and in the fusillade of messaging, a consumer trolls down any that is not unique or irrelevant.

Policy Polemic

India’s apparel production on consistent decline, delay in RoSL - IGST refunds double whammy for MSMEs : AEPC

The apparel output in the country comprising of a fair share of Micro, Small and Medium Enterprises (MSMEs) have registered a decline of 10.4 per cent for the April-Jan 2017-18 period, something that the apparel sector have been fearing all along, Apparel Export Promotion Council (AEPC) said in a statement. AEPC said that the decline is seeming to be the new normal since May 2017.

SME Special

How this 81-year-old entrepreneur is pioneering super-crop production in India

At a time when the startup ecosystem is dominated by 20 somethings, an 81-year-old started up to pioneer super-crop cultivation in India. “I have been a board member of the National Horticulture Board, Ministry of Agriculture between 2002 and 2005. In 2014, after attending a workshop of farmers at Dharvard, it occurred to me that a farmer producer company can be a vehicle to promote farmers interest in all areas,” says TV Gopinath, who has an experience of over over 55 years in industrial and consumer marketing.

Success Story

This entrepreneur is using the ‘Khalibottle’ to rid Bengaluru of mountains of trash

‘Have you ever fancied the idea of earning money from recycling? Sounds good? It gets even better’ – calls out an ad for Khalibottle, a Bengaluru-based startup, that is on a spree of converting trash to cash. It does it through the simple solution of recycling. This initiative has created a win-win situation for both customers who sell their trash and the recycling plants. However, the biggest winner is Bengaluru that has found a novel way to tackle its mounting waste management problem.

Stockpile

The central statistics office (CSO), ministry of statistics and programme implementation has released the quick estimates of index of industrial production and use-based index for the month of January, 2018 (base 2011-12=100)

Quotable Quotes

“ Quality is more important than quantity. One home run is much better than two doubles. ”
– Steven Paul Jobs - American entrepreneur, business magnate and inventor
 
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 Members Join FISME during 1st March 2018 to 15th March 2018
Reader Reactions

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Editorial Team:
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Asstt. Editor: Kalpana Sharma
Types setting & websdesigning: Sanjay Sachan  
Video & Photography:  Vipul Kumar Chettry

 

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