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President's Message
A big controversy has erupted after Rahul Bajaj’s remark before Home Minister in a programme organized by Times of India recently. Bajaj flagged that Indian industry was fearful of raising their concerns freely and frankly. This is true that during last 12~18 months of continued economic slowdown, large corporates have kept a stoic silence. MSMEs on the contrary have been quite vocal about slow down, delayed in payments and resultant financial stress. To be fair to the Government, MSMEs in general and FISME in particular, were given ample opportunities to raise many of these issues before highest decision makers in the Government. Not all suggestions we made were accepted but we could raise it to right forums. There are two important grudges, though. Firstly, Ministers are not easily accessible; access when needed is difficult. Even in most of the States it is the same story. It is only when a problem escalates into a full blown crisis that Government ‘invites’ for consultations. By the time, damage would have been done. Secondly, there is no mechanism for inter-Ministerial coordination. Usually, lack of coordination between major economic Ministries such as Commerce & Industry, Finance, Corporate Affairs, MSME and Labour makes consultations with Ministers ineffective and useless. FISME has been suggesting that there is a need to create an institutional mechanism for feedback and grievance redressal. So far there is none. The current crisis demands its establishment like never before.
"
Lately, I’ve been increasingly interested in the varied routes to entrepreneurship and the surprising ways so many of my friends and colleagues have shared about their paths to success.
Such was the topic as I sat down for lunch recently with Vicki Tu’ua of Vicki Tuua Insurance Agency, a business she’s been leading for 26 years -- in addition to the many roles that she fulfills as a community leader.
India’s gross domestic product in the July-September quarter grew 4.5%, the slowest pace of quarterly growth since the beginning of 2013. This was the sixth consecutive quarter where the sequential growth rate was lower than the preceding one. The trend highlights the extent and duration of the loss in economic momentum. A sharp recovery from the current level is unlikely. Another data set, which captures the performance of eight core infrastructure industries, contracted by 5.8% in October. To underline, data suggests that the economic slowdown is broad and deep. Growth rate for the July-September quarter did not come as a shock. Multiple indicators pointed to a continuation of the slowdown. Of particular concern is the pattern of growth. Manufacturing contracted by 1%. To an extent, it has been adversely affected by lacklustre global trade. But there are many constraints which are entirely domestic in nature. Performance of manufacturing is worrisome from another standpoint: options for youth to transition out of low productive farm activities are being squeezed. The economy has been propped
The Union Cabinet has extended the term of 15th Finance Commission by one-year to October 30, 2020. Among other key decisions that the Commission is to take, one is to decide on division of tax and other resources between the centre and the states.
The cabinet "approved the 15th Finance Commission to submit first report for the first fiscal year viz. 2020-21 and to extend the tenure of 15th Finance Commission to provide for the presentation of the final report covering FYs 2021-22 to 2025-26 by October 30, 2020," according to an official statement said. The term of the commission was originally set to end in October 2019, but was extended by one month to November 30.
The Union Minister of Commerce and Industry, Piyush Goyal has said the Government has simplified the Patents regime for Start-ups, Micro Small and Medium Enterprises (MSMEs) among others to encourage innovation.
While addressing a gathering after giving away Awards at the Global Bio-India Summit, 2019 on Friday, Goyal assured the Department of Industries will extend all support to new and emerging enterprises in Biotechnology sector.
The Minister further said biotechnology is a key sector to fulfill India's aspirations.
"The Prime Minister's Vision of New India is intertwined to DBT's enterprising endeavours. The aspirations of 1.3 billion Indians rests on our success to adopt technology, - innovations that lead to transformations," he added.
The number of authorizations issued under tax exemptions for exports for last three years under Advance Authorization Scheme and Duty Free Import Authorization Scheme have increased from 2016-17 to 2018-19.
In 2016-17, the Number of Authorizations issued under the Advanced Authorization Scheme was 22853 which dropped to 21505 in 2017-17 and again increased to 23042 in 2018-19. The Number of Authorizations issued under Duty Free Import Authorization Scheme in 2016-17 was 581, in 2017-18 it was 815 and in 2018-19 it was 1321.
In an information given in the Lok Sabha today, the Minister of Commerce and Industry, Piyush Goyal, said, “In the current Goods and Services Tax regime, exports are zero rated to ensure that the goods produced in India for exports are not disadvantaged due to the domestic tax burden and stay competitive internationally.”
Further, under the Foreign Trade Policy, Duty Exemptions Schemes ensure that inputs imported/locally procured for use in the export products are either exempt from duties ab-initio, or the taxes are refunded to the exporters in the form of drawback after exports.
Union Minister of Textiles Smriti Zubin Irani has said that the government had announced a Special Package for garments and made-ups sectors for the welfare of textiles sectors.
In a written reply in the Rajya Sabha, Irani said, ''To boost exports and enhance competitiveness, of the textiles sector, Government has announced a Special Package for garments and made-ups sectors. The package offers Rebate of State Levies (RoSL), labour law reforms, additional incentives under Amended Technology Upgradation Fund Scheme (ATUFS) and relaxation of Section 80JJAA of Income Tax Act.''
While speaking further on RoSL scheme, she said since it has been replaced by the scheme for Rebate of State and Central Taxes and Levies from 7th March 2019. Assistance is also provided to exporters under Market Access Initiative (MAI) Scheme.
Micro Small and Medium Enterprises (MSME) Technology Development Centre will conduct certified professional courses on cyber security essentials and project management here next month.
The two-day programme will be held on December 14 and 15 which will be cover current trends on cyber security, cyber hygiene among others.
The four-day training programme on project management certification will be held on the third and fourth weekends of December which will focus on various aspects of management- cost, quality, resource, stakeholder, communications and risk.
The courses will be held at VSR Complex on the Taramani Link Road in Velachery which can be can be availed after paying a course fee of Rs 4,720 and Rs 14,160, respectively.
The Ministry of Micro, Small and Medium-scale Enterprises (MSMEs) has approved Rs 200 crore for a MSME technology centre to be set up in Coimbatore.
With Rs 200 crore, which will be given by government at centre, common facilities will be set up for the micro and small-scale industries here. The project will be implemented by the MSME Development Institute. Reportedly, representatives of several industrial associations and officials related to the industries department met Coimbatore District Collector K Rajamani recently and explained the details of the project.
R Ramamurthy, president of Coimbatore District Small Industries Association (CODISSIA) said that such centres have already come up in Chennai and Kochi. Last time due to land availability problem the Coimbatore project went to Kochi. Now, the city should make use of the opportunity.
In a bid to help entrepreneurs get bank loans on the basis of credit ratings, the Ministry of Micro Small and Medium Enterprises (MSMEs) is in the process of launching ‘Digital data based credit ratings’, said Union Minister Nitin Gadkari.
While speaking at a conference on ‘Opportunities for MSME in Agriculture & Food processing’ at Agrovision, Gadkari pitched for setting up more small scale businesses in rural areas and assured all support from MSME ministry.
He further said that timely payment of taxes and loans will ensure good credit ratings and the concerned MSME will get digital data based credit ratings.
Gujarat Chief Minister Vijay Rupani will lay the foundation stone for seawater reverse osmosis desalination plant at Dahej on November 30.
The desalination plant with a capacity of 100 million liters per day (MLD) capacity is being set up on public-private partnership model by Gujarat Industrial Development Corporation (GIDC) for which it has allocated land in Dahej -2 estate for the project. It will require an investment of around Rs 1,020 crore.
The capital investment is around Rs 800 crore while the operational cost of Rs 220 crore will be jointly born by the industries in Petroleum, Chemical and Petrochemical Investment Region (PCPIR).
The Uttar Pradesh government has plans to launch 'loan melas' for the Micro, Small and Medium Enterprises (MSME) next month with an aim to quench credit thirst in MSME.
The mela will offer loans to the MSME under various central and state government schemes, including UP's flagship one district, one product (ODOP) programme, which promotes the indigenous industries and handicrafts.
The melas would be organised at all the 75 districts From December 9th to 27th on different dates according to the schedule to be drawn in consultation with the commercial banks and district officials.
Since, nearly 80 per cent of the country’s MSMEs, especially the micro units, still do not have access to institutional capital and they largely depend upon the unorganised players for meeting their financial needs, the mela is expected to boost the sector for higher growth and job creation.
The Kurali district in Punjab will soon get its first common effluent treatment plant which will mainly cater to the electroplating industry for treatment of its effluents.
The plant will come up at focal point Chanalon in Kurali. It will have a daily capacity of 150 kilolitres.
Punjab Small Industries Export Corporation (PSIEC) Limited has allotted one acre of land for setting up the treatment plant.
The effluent treatment plant will be set up on the Build-Own-Operate (BOO) basis and land has been given on a lease for two decades.
The plants which are into metal surface finishing industry will benefit from the plant.
Kerala Government has passed a bill, which allows entrepreneurs to start Micro, Small and Medium enterprises (MSMEs) with an investment of up to Rs 10 crore without getting any license from the government.
Speaking to media, Industries Minister EP Jayarajan hailed the bill and said that the same would boost the investors' confidence.
''The bill will enchance the ease of doing business (EODB) in the state,'' he said on Wednesday.
While highlighting the features of the bill, the minister further said that 'Kerala MSME facilitation bill 2019' provide investor up to three years to get the requisite sanctions.
After the end of three years, the firm should obtain all valid licences to run the enterprise, he added.
Japan on Sunday gave clear indications that efforts were on to make India join the ambitious Regional Comprehensive Economic Partnership (RCEP), saying all member countries of the grouping were committed to address New Delhi's concerns.
After years of negotiations, India last month pulled out of the proposed RCEP over unresolved "core concerns" at a summit meeting of the participating countries, saying the proposed pact in its current form would have adverse impact on lives and livelihoods of all Indians.
A spokesperson of the Japanese government said Prime Minister Narendra Modi explained India's position on the RCEP during a meeting with Japanese Foreign Minister Toshimitsu Motegi and Defence Minister Taro Kono on Saturday.
India is in talks with Russia to import metallurgical or coking coal to reduce dependence on few countries which currently exports the commodity to India.
Minister of Petroleum & Natural Gas and Steel Dharmendra Pradhan on Tuesday met Leonid Petukov, CEO, Far East Russia Investment and Export Agency here. Discussions centred around further developing economic linkages with Far East Russia, particularly through sourcing of metallurgical or coking coal, development of infrastructure of Far East Russia ports and connectivity of these ports with Russian mining locations, and improvements in evacuation infrastructure.
How to successfully manage organisational conflicts
Organisation leaders deal with many conflicts and are responsible for their effective management. Conflicts are inevitable; awareness of the potential approaches to conflict resolution and understanding when to use what technique, and its outcomes, can provide organisation leaders with the required skills to effectively manage conflicts.
How an angel investor’s wish list can help a startup scale
Even those who know nothing about the startup world, know this - that nothing comes for free. While the “angel” before the “investor” makes this set of entrepreneurs sound more noble than others, it doesn’t mean that they’re going to go easy on you.
A decade ago when Influencer Marketing came into existence, marketers focused their attention to a few affordable celebrities and a limited pool of bloggers. As time passed and digitisation exploded, marketers and content creators realised the potential of Influencer Marketing, and with that came a bigger dilemma - identifying the right influencer for your brand.
The Micro, Small and Medium Enterprises (MSMEs) in the state have urged the Centre to constitute a special corpus fund for assisting MSMEs overcome the slowdown the sector is going through.
Bootstrapped startup The Gene Box aims to analyse wellness parameters through genomics
The genetic disposition of an individual determines more than just physical characteristics and behaviour. It goes deeper – predicting health patterns, genetic anomalies, illnesses and nutritional needs of an individual. In fact, a recent study claimed that a genetically tailored weight loss programme helped people lose 33 percent more weight.
Mumbai-based startup The Gene Box is exploring the labyrinth of genetic markers for this very purpose.
With just Rs 10 lakh, these two college friends built a Rs 1.85 Cr milkshake startup
Their love for food – especially a rich, creamy milkshake – led two college friends to bootstrap a startup in the F&B space. College roommates Nishant Tripathi and Anil Paremal, who crossed paths during their engineering days, took their memory of that "sad and watery canteen milkshake" and converted it into a bootstrapped startup: Shake It Off.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product(GDP)for the second quarter (July-September) Q2 of 2019-20, both at Constant(2011-12) and Current Prices, along with the corresponding quarterly estimates of expenditure components of the GDP.
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:
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A big controversy has erupted after Rahul Bajaj’s remark before Home Minister in a programme organized by Times of India recently. Bajaj flagged that Indian industry was fearful of raising their concerns freely and frankly. This is true that during last 12~18 months of continued economic slowdown, large corporates have kept a stoic silence. MSMEs on the contrary have been quite vocal about slow down, delayed in payments and resultant financial stress. To be fair to the Government, MSMEs in general and FISME in particular, were given ample opportunities to raise many of these issues before highest decision makers in the Government. Not all suggestions we made were accepted but we could raise it to right forums. There are two important grudges, though. Firstly, Ministers are not easily accessible; access when needed is difficult. Even in most of the States it is the same story. It is only when a problem escalates into a full blown crisis that Government ‘invites’ for consultations. By the time, damage would have been done. Secondly, there is no mechanism for inter-Ministerial coordination. Usually, lack of coordination between major economic Ministries such as Commerce & Industry, Finance, Corporate Affairs, MSME and Labour makes consultations with Ministers ineffective and useless. FISME has been suggesting that there is a need to create an institutional mechanism for feedback and grievance redressal. So far there is none. The current crisis demands its establishment like never before.
"
Lately, I’ve been increasingly interested in the varied routes to entrepreneurship and the surprising ways so many of my friends and colleagues have shared about their paths to success.
Such was the topic as I sat down for lunch recently with Vicki Tu’ua of Vicki Tuua Insurance Agency, a business she’s been leading for 26 years -- in addition to the many roles that she fulfills as a community leader.
The Union Cabinet has extended the term of 15th Finance Commission by one-year to October 30, 2020. Among other key decisions that the Commission is to take, one is to decide on division of tax and other resources between the centre and the states.
The cabinet "approved the 15th Finance Commission to submit first report for the first fiscal year viz. 2020-21 and to extend the tenure of 15th Finance Commission to provide for the presentation of the final report covering FYs 2021-22 to 2025-26 by October 30, 2020," according to an official statement said. The term of the commission was originally set to end in October 2019, but was extended by one month to November 30.
The Union Minister of Commerce and Industry, Piyush Goyal has said the Government has simplified the Patents regime for Start-ups, Micro Small and Medium Enterprises (MSMEs) among others to encourage innovation.
While addressing a gathering after giving away Awards at the Global Bio-India Summit, 2019 on Friday, Goyal assured the Department of Industries will extend all support to new and emerging enterprises in Biotechnology sector.
The Minister further said biotechnology is a key sector to fulfill India's aspirations.
"The Prime Minister's Vision of New India is intertwined to DBT's enterprising endeavours. The aspirations of 1.3 billion Indians rests on our success to adopt technology, - innovations that lead to transformations," he added.
The number of authorizations issued under tax exemptions for exports for last three years under Advance Authorization Scheme and Duty Free Import Authorization Scheme have increased from 2016-17 to 2018-19.
In 2016-17, the Number of Authorizations issued under the Advanced Authorization Scheme was 22853 which dropped to 21505 in 2017-17 and again increased to 23042 in 2018-19. The Number of Authorizations issued under Duty Free Import Authorization Scheme in 2016-17 was 581, in 2017-18 it was 815 and in 2018-19 it was 1321.
In an information given in the Lok Sabha today, the Minister of Commerce and Industry, Piyush Goyal, said, “In the current Goods and Services Tax regime, exports are zero rated to ensure that the goods produced in India for exports are not disadvantaged due to the domestic tax burden and stay competitive internationally.”
Further, under the Foreign Trade Policy, Duty Exemptions Schemes ensure that inputs imported/locally procured for use in the export products are either exempt from duties ab-initio, or the taxes are refunded to the exporters in the form of drawback after exports.
Union Minister of Textiles Smriti Zubin Irani has said that the government had announced a Special Package for garments and made-ups sectors for the welfare of textiles sectors.
In a written reply in the Rajya Sabha, Irani said, ''To boost exports and enhance competitiveness, of the textiles sector, Government has announced a Special Package for garments and made-ups sectors. The package offers Rebate of State Levies (RoSL), labour law reforms, additional incentives under Amended Technology Upgradation Fund Scheme (ATUFS) and relaxation of Section 80JJAA of Income Tax Act.''
While speaking further on RoSL scheme, she said since it has been replaced by the scheme for Rebate of State and Central Taxes and Levies from 7th March 2019. Assistance is also provided to exporters under Market Access Initiative (MAI) Scheme.
Micro Small and Medium Enterprises (MSME) Technology Development Centre will conduct certified professional courses on cyber security essentials and project management here next month.
The two-day programme will be held on December 14 and 15 which will be cover current trends on cyber security, cyber hygiene among others.
The four-day training programme on project management certification will be held on the third and fourth weekends of December which will focus on various aspects of management- cost, quality, resource, stakeholder, communications and risk.
The courses will be held at VSR Complex on the Taramani Link Road in Velachery which can be can be availed after paying a course fee of Rs 4,720 and Rs 14,160, respectively.
The Ministry of Micro, Small and Medium-scale Enterprises (MSMEs) has approved Rs 200 crore for a MSME technology centre to be set up in Coimbatore.
With Rs 200 crore, which will be given by government at centre, common facilities will be set up for the micro and small-scale industries here. The project will be implemented by the MSME Development Institute. Reportedly, representatives of several industrial associations and officials related to the industries department met Coimbatore District Collector K Rajamani recently and explained the details of the project.
R Ramamurthy, president of Coimbatore District Small Industries Association (CODISSIA) said that such centres have already come up in Chennai and Kochi. Last time due to land availability problem the Coimbatore project went to Kochi. Now, the city should make use of the opportunity.
In a bid to help entrepreneurs get bank loans on the basis of credit ratings, the Ministry of Micro Small and Medium Enterprises (MSMEs) is in the process of launching ‘Digital data based credit ratings’, said Union Minister Nitin Gadkari.
While speaking at a conference on ‘Opportunities for MSME in Agriculture & Food processing’ at Agrovision, Gadkari pitched for setting up more small scale businesses in rural areas and assured all support from MSME ministry.
He further said that timely payment of taxes and loans will ensure good credit ratings and the concerned MSME will get digital data based credit ratings.
Gujarat Chief Minister Vijay Rupani will lay the foundation stone for seawater reverse osmosis desalination plant at Dahej on November 30.
The desalination plant with a capacity of 100 million liters per day (MLD) capacity is being set up on public-private partnership model by Gujarat Industrial Development Corporation (GIDC) for which it has allocated land in Dahej -2 estate for the project. It will require an investment of around Rs 1,020 crore.
The capital investment is around Rs 800 crore while the operational cost of Rs 220 crore will be jointly born by the industries in Petroleum, Chemical and Petrochemical Investment Region (PCPIR).
The Uttar Pradesh government has plans to launch 'loan melas' for the Micro, Small and Medium Enterprises (MSME) next month with an aim to quench credit thirst in MSME.
The mela will offer loans to the MSME under various central and state government schemes, including UP's flagship one district, one product (ODOP) programme, which promotes the indigenous industries and handicrafts.
The melas would be organised at all the 75 districts From December 9th to 27th on different dates according to the schedule to be drawn in consultation with the commercial banks and district officials.
Since, nearly 80 per cent of the country’s MSMEs, especially the micro units, still do not have access to institutional capital and they largely depend upon the unorganised players for meeting their financial needs, the mela is expected to boost the sector for higher growth and job creation.
The Kurali district in Punjab will soon get its first common effluent treatment plant which will mainly cater to the electroplating industry for treatment of its effluents.
The plant will come up at focal point Chanalon in Kurali. It will have a daily capacity of 150 kilolitres.
Punjab Small Industries Export Corporation (PSIEC) Limited has allotted one acre of land for setting up the treatment plant.
The effluent treatment plant will be set up on the Build-Own-Operate (BOO) basis and land has been given on a lease for two decades.
The plants which are into metal surface finishing industry will benefit from the plant.
Kerala Government has passed a bill, which allows entrepreneurs to start Micro, Small and Medium enterprises (MSMEs) with an investment of up to Rs 10 crore without getting any license from the government.
Speaking to media, Industries Minister EP Jayarajan hailed the bill and said that the same would boost the investors' confidence.
''The bill will enchance the ease of doing business (EODB) in the state,'' he said on Wednesday.
While highlighting the features of the bill, the minister further said that 'Kerala MSME facilitation bill 2019' provide investor up to three years to get the requisite sanctions.
After the end of three years, the firm should obtain all valid licences to run the enterprise, he added.
Japan on Sunday gave clear indications that efforts were on to make India join the ambitious Regional Comprehensive Economic Partnership (RCEP), saying all member countries of the grouping were committed to address New Delhi's concerns.
After years of negotiations, India last month pulled out of the proposed RCEP over unresolved "core concerns" at a summit meeting of the participating countries, saying the proposed pact in its current form would have adverse impact on lives and livelihoods of all Indians.
A spokesperson of the Japanese government said Prime Minister Narendra Modi explained India's position on the RCEP during a meeting with Japanese Foreign Minister Toshimitsu Motegi and Defence Minister Taro Kono on Saturday.
India is in talks with Russia to import metallurgical or coking coal to reduce dependence on few countries which currently exports the commodity to India.
Minister of Petroleum & Natural Gas and Steel Dharmendra Pradhan on Tuesday met Leonid Petukov, CEO, Far East Russia Investment and Export Agency here. Discussions centred around further developing economic linkages with Far East Russia, particularly through sourcing of metallurgical or coking coal, development of infrastructure of Far East Russia ports and connectivity of these ports with Russian mining locations, and improvements in evacuation infrastructure.
According to FISME factor 100 percent of MSMEs think that India's move to 'exit' the RCEP deal was appropriate. 
Organisation leaders deal with many conflicts and are responsible for their effective management. Conflicts are inevitable; awareness of the potential approaches to conflict resolution and understanding when to use what technique, and its outcomes, can provide organisation leaders with the required skills to effectively manage conflicts.
Even those who know nothing about the startup world, know this - that nothing comes for free. While the “angel” before the “investor” makes this set of entrepreneurs sound more noble than others, it doesn’t mean that they’re going to go easy on you.
A decade ago when Influencer Marketing came into existence, marketers focused their attention to a few affordable celebrities and a limited pool of bloggers. As time passed and digitisation exploded, marketers and content creators realised the potential of Influencer Marketing, and with that came a bigger dilemma - identifying the right influencer for your brand.
The Micro, Small and Medium Enterprises (MSMEs) in the state have urged the Centre to constitute a special corpus fund for assisting MSMEs overcome the slowdown the sector is going through.
The genetic disposition of an individual determines more than just physical characteristics and behaviour. It goes deeper – predicting health patterns, genetic anomalies, illnesses and nutritional needs of an individual. In fact, a recent study claimed that a genetically tailored weight loss programme helped people lose 33 percent more weight.
Mumbai-based startup The Gene Box is exploring the labyrinth of genetic markers for this very purpose.
Their love for food – especially a rich, creamy milkshake – led two college friends to bootstrap a startup in the F&B space. College roommates Nishant Tripathi and Anil Paremal, who crossed paths during their engineering days, took their memory of that "sad and watery canteen milkshake" and converted it into a bootstrapped startup: Shake It Off.
“
The only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle.
”
