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President's Message
At the outset, let me take this opportunity to wish all the colleagues and friends from MSME sector a very Happy New Year 2019 ! Before curtains were drawn on 2018, the RBI saw change of guard at its helm. Shri Shaktikanta Das replaced Shri Urjit Patel. There is no doubt that relations between the Government and the predecessors of Shri Das have been marked by disagreements on many counts. One of the differences related to MSMEs too. Stung of large scale NPAs in India Inc., RBI resisted to be accommodative to the needs of MSMEs who were badly bruised post demonetization and GST. The RBI’s rigid SMA framework (which can mark a unit NPA if payment of loan is slightly delayed) without appreciating the widespread delays MSMEs experience in realizing their dues and its over reliance and insistence on third party credit ratings, have also got MSMEs worked up against the central bank. Hopefully, better sense will prevail during the tenure of the new governor and 2019 will bring some cheers in the depressed ranks of MSMEs too.
"
Gone are the days when being an entrepreneur only meant analytically thinking and making decisions based only on the basis of hard facts. Welcome to the new-age creative thinking.
Entrepreneurship and creativity go hand in hand. For an entrepreneur, creativity is the key to producing new ideas and processes.Creativity isn't just about coming up with ideas.Creative thinking is a major part of good business acumen, without which your business could just go into the stagnation mode.
GST Council has done well to rationalise rates over time, amidst revenue concerns.
In a belated but welcome effort, the Centre is pushing for lower rates of GST for most goods and services, while restricting the 28 per cent slab to ‘sin’ goods. The Finance Minister’s assurance that cement will be removed from the 28 per cent bracket will act as a shot-in-the-arm for the construction industry and the affordable housing programme. In an effort to shore up revenue collections in the transition to GST, a large number of goods and services were over-taxed. In the case of services, this amounted to an increase over the pre-GST levy of 15 per cent. Hence, the move to arrive at an intermediate rate..
With the dawn of New Year 2019, as many as 23 goods and services has become cheaper including movie tickets, TV and monitor screen.
Now, the consumers will pay less for these items of common consumption as the incidence of Goods and Services Tax (GST) on them will come down from today. The GST Council on December 22 decided to cut tax rates on 23 goods and services, which include movie tickets, TV and monitor screens and power banks and exempted frozen and preserved vegetables from the levy.
The Council had rationalised the 28 per cent slab and restricted the highest slab to luxury, demerit, and sin goods, besides cement, large screen TV, Air Conditioners and dishwashers.
The customs department has been directed by the Ministry of Finance to seize import of equipment that facilitates electronic nicotine delivery system (ENDS).
Further, hand them over to the Deputy Drug Controller for compliance with the Drugs and Cosmetics Act, 1940.
The Centre move to restrict use of e-cigarettes comes even as government-owned insurance companies own about 22 per cent stake in ITC, country’s largest conventional cigarette maker.
Despite the High Court judgement, the Ministry of Finance issued a circular directing all custom authorities to refer import consignments of ENDS including e-cigarettes, heat-not-burn devices, vape, e-sheesha, e-nicotine flavoured hookah and other like devices to the Deputy Drug Controller in their jurisdiction.
The first ever manual of operating practices for trade remedy investigations and handbook of operating procedures of trade defence wing, was released by Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu in New Delhi.
Commerce Minister said that India is one of the largest users of the trade remedies in the world and also a target of trade remedy actions by other countries. He expressed the hope that documentation of practices and procedures in the form of manual and handbook will instil a greater sense of responsiveness, accountability in the current system of governance and also usher in uniformity and transparency in functioning of DGTR.
The growth of exports of products manufactured by micro, small, medium enterprises (MSME) units was 7.5% during the financial year 2017-18, Minister of State (Independent Incharge), Ministry of MSME, Giriraj Singh said.
In a reply in the Lok Sabha, the Minister further informed that the growth had been 5.9%, and 4.8% during 2015-16 and 2016-17 respectively.
He also stated that the Government of India has taken several measures to improve competitiveness of Indian industry and to boost exports.
These include efforts taken under National Manufacturing Competitiveness Programme, Make in India initiatives, Ease of Doing Business, improvement in infrastructure and logistics, improved availability of credit, awareness programs and workshops, Merchandise Exports from India Scheme (MEIS), Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit and Niryat Bandhu Scheme.
Micro, Small and Medium Enterprises (MSMEs) should be classified according to their annual turnovers instead of investments in plant and machinery. This was suggested by a parliamentary panel in a report.
“Taking into consideration the views of majority of the stakeholders and the arguments put forth by the MSMEs Ministry, the committee feels that instead of the current classification based on investment in plant and machinery/equipment, the MSMEs could be classified based on their annual turnover,” according to a report by the department-related parliamentary standing committee on industry.
Under the '59 minutes' loan scheme launched by the government in November, public sector banks have approved more than 1.12 lakh loan applications of Micro, Small and Medium enterprises (MSMEs) totaling Rs 37,412 crore
Out of over 1.31 lakh applications, the state-owned banks have accorded in-principal approval to 1.12 lakh applicants, said Shiv Pratap Shukla, Minister of State for Finance. He said this in a written reply to the Lok Sabha, giving details about the progress of the scheme.
He further said that sanctions have been made in respect of 40,669 cases totalling Rs 14,088.32 crore. The government and the Reserve Bank have taken several steps to ensure access of credit to MSME sector, said Shukla.
GST registered MSMEs can take loan up to Rs 1 crore in just 59 minutes through 'psbloansin59minutes.com' portal.
Despite a reasonable growth story and substantial share in overall exports, MSMEs are often faced with these challenges that restrict their entry into the foreign market, the Ministry of Micro, Small and Medium Enterprises (MoMSME) said in its Strategy Action Plan on Unlocking the potential of MSME exports.
The report said that “Not only do these challenges need to be studied in detail but, an eco-system needs to be created in such a way that these enterprises shall be able to participate in the global value chain on its own and generate enough economies of scale.”
The strategy action plan prepared by the Ministry aims to create a sustainable ecosystem for entire MSME development.
The action plan aims to achieve the objectives of – Finance; Access to affordable trade finance; Target of USD 100 billion of exports from India by 2020; Evaluate readiness of MSMEs to export their products and services; Recognize areas where improvements are required in order to be able to export effectively and efficiently; Integration of MSMEs into Global Value Chain.
To ensure efficient and effective delivery of all MSME export related interventions, the Strategy Action Plan proposed to formulate a governing council that shall be chaired by Secretary, M/o MSME and Co-chaired by DC, M/o MSME.
To build connection between MSMEs/businesses and customers, Google India launched a new, redesigned, Google My Business App that allows businesses to update their profile, converse with customers, and attract new ones in real-time, on-the-go.
The application is a simple and free tool for SMEs to start their digital journey through listings on Google and keep their business presence up-to-date on Google Search and Google Maps. New features such as the new post button, a customer tab and the bottom navigation bar, allow businesses to follow and message customers directly from the app, enhancing engagement between both the parties.
Kerala government will start incubation centres in the Kollam district to promote budding entrepreneurs, said J. Mercykutty Amma, Fisheries Minister.
Inaugurating the district-level investor’s meet here, she said “District Industries Centre (DIC) should explore the possibilities of incubation centres and consider available spaces at industrial estates for this.
The start-ups can move forward if space, training and bank loans are ensured, she added.
She further pointed that the food processing and IT are the promising sectors for budding and aspiring entrepreneurs.
During the meet, sessions were held on the entrepreneurial opportunities in the district, 3D printing, amendments to the Panchayat Raj Act, food safety measures and banking.
The Gujarat government launched a scheme on ‘Technology Demonstration and Pilot Deployment’ program under which it will incentivize technology startups to provide solutions for sector-specific problems identified by the authorities.
The scheme was announced by Chief Secretary, Government of Gujarat, J N Singh, while inaugurating the newly built 49000 sq feet ‘Vigyan Bhavan’ at Ahmedabad Science City.
He said, "State Government has announced a 'Science, Technology and Innovation (STI) Policy, under which a dedicated Innovation Fund of Rs 50 crore has been created.”
Considering the importance of textile industry, Maharashtra government incorporated some significant changes in the textile policy to accelerate growth and expansion of the key industry.
The changes were approved by the state Cabinet at its meeting here. According to the changes, “The order for the purchase of machinery has been given the option of taking long-term loan sanctioned or self-financed projects in the textile Policy 2011-17 or in the Textile Policy 2018-23”, said Subhash Deshmukh, State Cooperative, Marketing and Textile Minister.
The Maharashtra's textile industry policy for year 2018- 23 has been announced considering the importance of textile industry.
In this regard, directives have been issued to improve the apparel sector by banks and textile companies and accordingly, it was decided to make four such significant improvements in this policy, he added.
Around 454 services have been made online across 34 departments under the Assam Government through the ‘Single Window Clearance System’ till date, said Assam’s Additional Chief Secretary, Industries and Commerce Department, Ravi Capoor.
Speaking at the regional workshop on Business Reforms Action Plan (BRAP)-2019 at Assam Administrative Staff College here recently, Capoor said that Assam will render hand-holding support to other NE states for fulfilling the EODB guidelines. The State Industries and Commerce Department in collaboration with Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, Government of India organized the regional workshop on Business Reforms Action Plan (BRAP)-2019.
In order to improve ease of doing business rankings of the country and make it an attractive destination, DIPP has taken up ‘Business Reform Action Plans’ during the last couple of years.
Director of DIPP, Sampa Saha called upon the other NE states to expedite the EODB processes in their respective states and assured all support from the DIPP to fulfill their objectives.
To further improve EODB, DIPP has circulated the state-level Business Reform Action Plan, 2019 and organized the regional workshop for the North Eastern States.
To serve the local markets where there is a lot of demand for IOT (Internet of Things), Taiwanese are keen to set up an “electronics manufacturing cluster” in Gujarat and will be signing a MoU during the upcoming Vibrant Gujarat Summit, said Maulik Bhansali, Chairman of GESIA IT Association, a body representing the ICT industry of Gujarat.
He said “We will be participating in the Vibrant Summit along with the Government of Gujarat and we will be signing a MoU with Taiwan, which is interested in setting up an electronics manufacturing cluster in the state. We are still in talks and working out the details.”
The Taiwanese are very impressed by the success of the Japanese cluster and are looking to emulate them in Gujarat, he added.
They are looking to serve the local markets where there is a lot of demand for IOT (Internet of Things) and are also looking to export from this cluster to countries in middle-east, Europe and Africa, Bhansali told media persons during an interaction.
Vibrant Gujarat Summit is scheduled to be held from January 18-19, 2018.
Indian government has imposed an anti-dumping duty on a Chinese chemical used in making detergents for five years to guard domestic players from cheap imports from China.
The duty has been imposed on detergent grade ‘Zeolite 4A’ on the recommendations of Directorate General of Trade Remedies (DGTR), the investigation arm of the Commerce Ministry, after conducting a probe in this regard.
Gujarat Credo Mineral Industries and Chemicals India had complained to DGTR, that the import of the cheap chemical is hurting the domestic industry.
After a probe, the DGTR said there was a “positive dumping margin” as well as material injury to the domestic industry caused by the dumped imports, and recommended imposition of definitive anti-dumping levy.
Industrial production jumps 11 month high of 8.1 %. Do you think that this growth will sustain in future?
Industrial production jumps 11 month high of 8.1 %. According to FISME Factor 68.8 % MSMEs think that this growth will sustain in the future, 18.8 % thinks it will not while 12.5 % think otherwise.
It is common knowledge that successful businesses stand on the qualities and strengths of their workforce. When it comes to small businesses, the role and reliability of the employees takes on greater significance...
Shiv is a rather enterprising chaiwalla, catering to the small offices in New Delhi’s East of Kailash locality. In the narrow bylanes and tightly-packed old buildings in the area, he can be seen carrying his kettle and Styrofoam cups...
Proposed central industrial package for J&K is merely eyewash
The entrepreneurs of Jammu and Kashmir (J&K) are alleging that the proposed central industrial package for J&K is merely an eyewash and is just pouring salt on the wounds of already suffering Small and Micro industrial sectors.
How swearing by transparency, this entrepreneur is seeing success in the organic food sector
Bhavin Parmar (33) from Gujarat belongs to a farmer’s family. After completing his MBA in 2012 from IIM Indore, Bhavin decided to give a miss to many lucrative offers rolled by MNCs, and instead, opted to work for a company that gave him an opportunity to go back to his agricultural roots.
How this Amritsar-based businessman tapped into scarcity of a chemical supply to set up Rs 100 Cr manufacturing business
Amritsar-based Anil Singhal (64) traces his desire for venturing into the manufacturing sector back to his college days in the early 70s. He says, “My father had a cloth trading business.
The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has been bringing out the employment related statistics in the formal sector covering the period September 2017 onwards
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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This Newsletter is edited by the FISME Secretariat. We welcome contributions as well as comments and suggestions. Please write to newsletter@fisme.org.in
At the outset, let me take this opportunity to wish all the colleagues and friends from MSME sector a very Happy New Year 2019 ! Before curtains were drawn on 2018, the RBI saw change of guard at its helm. Shri Shaktikanta Das replaced Shri Urjit Patel. There is no doubt that relations between the Government and the predecessors of Shri Das have been marked by disagreements on many counts. One of the differences related to MSMEs too. Stung of large scale NPAs in India Inc., RBI resisted to be accommodative to the needs of MSMEs who were badly bruised post demonetization and GST. The RBI’s rigid SMA framework (which can mark a unit NPA if payment of loan is slightly delayed) without appreciating the widespread delays MSMEs experience in realizing their dues and its over reliance and insistence on third party credit ratings, have also got MSMEs worked up against the central bank. Hopefully, better sense will prevail during the tenure of the new governor and 2019 will bring some cheers in the depressed ranks of MSMEs too.
"
Gone are the days when being an entrepreneur only meant analytically thinking and making decisions based only on the basis of hard facts. Welcome to the new-age creative thinking.
Entrepreneurship and creativity go hand in hand. For an entrepreneur, creativity is the key to producing new ideas and processes.Creativity isn't just about coming up with ideas.Creative thinking is a major part of good business acumen, without which your business could just go into the stagnation mode.
With the dawn of New Year 2019, as many as 23 goods and services has become cheaper including movie tickets, TV and monitor screen.
Now, the consumers will pay less for these items of common consumption as the incidence of Goods and Services Tax (GST) on them will come down from today. The GST Council on December 22 decided to cut tax rates on 23 goods and services, which include movie tickets, TV and monitor screens and power banks and exempted frozen and preserved vegetables from the levy.
The Council had rationalised the 28 per cent slab and restricted the highest slab to luxury, demerit, and sin goods, besides cement, large screen TV, Air Conditioners and dishwashers.
The customs department has been directed by the Ministry of Finance to seize import of equipment that facilitates electronic nicotine delivery system (ENDS).
Further, hand them over to the Deputy Drug Controller for compliance with the Drugs and Cosmetics Act, 1940.
The Centre move to restrict use of e-cigarettes comes even as government-owned insurance companies own about 22 per cent stake in ITC, country’s largest conventional cigarette maker.
Despite the High Court judgement, the Ministry of Finance issued a circular directing all custom authorities to refer import consignments of ENDS including e-cigarettes, heat-not-burn devices, vape, e-sheesha, e-nicotine flavoured hookah and other like devices to the Deputy Drug Controller in their jurisdiction.
The first ever manual of operating practices for trade remedy investigations and handbook of operating procedures of trade defence wing, was released by Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu in New Delhi.
Commerce Minister said that India is one of the largest users of the trade remedies in the world and also a target of trade remedy actions by other countries. He expressed the hope that documentation of practices and procedures in the form of manual and handbook will instil a greater sense of responsiveness, accountability in the current system of governance and also usher in uniformity and transparency in functioning of DGTR.
The growth of exports of products manufactured by micro, small, medium enterprises (MSME) units was 7.5% during the financial year 2017-18, Minister of State (Independent Incharge), Ministry of MSME, Giriraj Singh said.
In a reply in the Lok Sabha, the Minister further informed that the growth had been 5.9%, and 4.8% during 2015-16 and 2016-17 respectively.
He also stated that the Government of India has taken several measures to improve competitiveness of Indian industry and to boost exports.
These include efforts taken under National Manufacturing Competitiveness Programme, Make in India initiatives, Ease of Doing Business, improvement in infrastructure and logistics, improved availability of credit, awareness programs and workshops, Merchandise Exports from India Scheme (MEIS), Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit and Niryat Bandhu Scheme.
Micro, Small and Medium Enterprises (MSMEs) should be classified according to their annual turnovers instead of investments in plant and machinery. This was suggested by a parliamentary panel in a report.
“Taking into consideration the views of majority of the stakeholders and the arguments put forth by the MSMEs Ministry, the committee feels that instead of the current classification based on investment in plant and machinery/equipment, the MSMEs could be classified based on their annual turnover,” according to a report by the department-related parliamentary standing committee on industry.
Under the '59 minutes' loan scheme launched by the government in November, public sector banks have approved more than 1.12 lakh loan applications of Micro, Small and Medium enterprises (MSMEs) totaling Rs 37,412 crore
Out of over 1.31 lakh applications, the state-owned banks have accorded in-principal approval to 1.12 lakh applicants, said Shiv Pratap Shukla, Minister of State for Finance. He said this in a written reply to the Lok Sabha, giving details about the progress of the scheme.
He further said that sanctions have been made in respect of 40,669 cases totalling Rs 14,088.32 crore. The government and the Reserve Bank have taken several steps to ensure access of credit to MSME sector, said Shukla.
GST registered MSMEs can take loan up to Rs 1 crore in just 59 minutes through 'psbloansin59minutes.com' portal.
Despite a reasonable growth story and substantial share in overall exports, MSMEs are often faced with these challenges that restrict their entry into the foreign market, the Ministry of Micro, Small and Medium Enterprises (MoMSME) said in its Strategy Action Plan on Unlocking the potential of MSME exports.
The report said that “Not only do these challenges need to be studied in detail but, an eco-system needs to be created in such a way that these enterprises shall be able to participate in the global value chain on its own and generate enough economies of scale.”
The strategy action plan prepared by the Ministry aims to create a sustainable ecosystem for entire MSME development.
The action plan aims to achieve the objectives of – Finance; Access to affordable trade finance; Target of USD 100 billion of exports from India by 2020; Evaluate readiness of MSMEs to export their products and services; Recognize areas where improvements are required in order to be able to export effectively and efficiently; Integration of MSMEs into Global Value Chain.
To ensure efficient and effective delivery of all MSME export related interventions, the Strategy Action Plan proposed to formulate a governing council that shall be chaired by Secretary, M/o MSME and Co-chaired by DC, M/o MSME.
To build connection between MSMEs/businesses and customers, Google India launched a new, redesigned, Google My Business App that allows businesses to update their profile, converse with customers, and attract new ones in real-time, on-the-go.
The application is a simple and free tool for SMEs to start their digital journey through listings on Google and keep their business presence up-to-date on Google Search and Google Maps. New features such as the new post button, a customer tab and the bottom navigation bar, allow businesses to follow and message customers directly from the app, enhancing engagement between both the parties.
Kerala government will start incubation centres in the Kollam district to promote budding entrepreneurs, said J. Mercykutty Amma, Fisheries Minister.
Inaugurating the district-level investor’s meet here, she said “District Industries Centre (DIC) should explore the possibilities of incubation centres and consider available spaces at industrial estates for this.
The start-ups can move forward if space, training and bank loans are ensured, she added.
She further pointed that the food processing and IT are the promising sectors for budding and aspiring entrepreneurs.
During the meet, sessions were held on the entrepreneurial opportunities in the district, 3D printing, amendments to the Panchayat Raj Act, food safety measures and banking.
The Gujarat government launched a scheme on ‘Technology Demonstration and Pilot Deployment’ program under which it will incentivize technology startups to provide solutions for sector-specific problems identified by the authorities.
The scheme was announced by Chief Secretary, Government of Gujarat, J N Singh, while inaugurating the newly built 49000 sq feet ‘Vigyan Bhavan’ at Ahmedabad Science City.
He said, "State Government has announced a 'Science, Technology and Innovation (STI) Policy, under which a dedicated Innovation Fund of Rs 50 crore has been created.”
Considering the importance of textile industry, Maharashtra government incorporated some significant changes in the textile policy to accelerate growth and expansion of the key industry.
The changes were approved by the state Cabinet at its meeting here. According to the changes, “The order for the purchase of machinery has been given the option of taking long-term loan sanctioned or self-financed projects in the textile Policy 2011-17 or in the Textile Policy 2018-23”, said Subhash Deshmukh, State Cooperative, Marketing and Textile Minister.
The Maharashtra's textile industry policy for year 2018- 23 has been announced considering the importance of textile industry.
In this regard, directives have been issued to improve the apparel sector by banks and textile companies and accordingly, it was decided to make four such significant improvements in this policy, he added.
Around 454 services have been made online across 34 departments under the Assam Government through the ‘Single Window Clearance System’ till date, said Assam’s Additional Chief Secretary, Industries and Commerce Department, Ravi Capoor.
Speaking at the regional workshop on Business Reforms Action Plan (BRAP)-2019 at Assam Administrative Staff College here recently, Capoor said that Assam will render hand-holding support to other NE states for fulfilling the EODB guidelines. The State Industries and Commerce Department in collaboration with Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, Government of India organized the regional workshop on Business Reforms Action Plan (BRAP)-2019.
In order to improve ease of doing business rankings of the country and make it an attractive destination, DIPP has taken up ‘Business Reform Action Plans’ during the last couple of years.
Director of DIPP, Sampa Saha called upon the other NE states to expedite the EODB processes in their respective states and assured all support from the DIPP to fulfill their objectives.
To further improve EODB, DIPP has circulated the state-level Business Reform Action Plan, 2019 and organized the regional workshop for the North Eastern States.
To serve the local markets where there is a lot of demand for IOT (Internet of Things), Taiwanese are keen to set up an “electronics manufacturing cluster” in Gujarat and will be signing a MoU during the upcoming Vibrant Gujarat Summit, said Maulik Bhansali, Chairman of GESIA IT Association, a body representing the ICT industry of Gujarat.
He said “We will be participating in the Vibrant Summit along with the Government of Gujarat and we will be signing a MoU with Taiwan, which is interested in setting up an electronics manufacturing cluster in the state. We are still in talks and working out the details.”
The Taiwanese are very impressed by the success of the Japanese cluster and are looking to emulate them in Gujarat, he added.
They are looking to serve the local markets where there is a lot of demand for IOT (Internet of Things) and are also looking to export from this cluster to countries in middle-east, Europe and Africa, Bhansali told media persons during an interaction.
Vibrant Gujarat Summit is scheduled to be held from January 18-19, 2018.
Indian government has imposed an anti-dumping duty on a Chinese chemical used in making detergents for five years to guard domestic players from cheap imports from China.
The duty has been imposed on detergent grade ‘Zeolite 4A’ on the recommendations of Directorate General of Trade Remedies (DGTR), the investigation arm of the Commerce Ministry, after conducting a probe in this regard.
Gujarat Credo Mineral Industries and Chemicals India had complained to DGTR, that the import of the cheap chemical is hurting the domestic industry.
After a probe, the DGTR said there was a “positive dumping margin” as well as material injury to the domestic industry caused by the dumped imports, and recommended imposition of definitive anti-dumping levy.
Industrial production jumps 11 month high of 8.1 %. According to FISME Factor 68.8 % MSMEs think that this growth will sustain in the future, 18.8 % thinks it will not while 12.5 % think otherwise. 
It is common knowledge that successful businesses stand on the qualities and strengths of their workforce. When it comes to small businesses, the role and reliability of the employees takes on greater significance...
Shiv is a rather enterprising chaiwalla, catering to the small offices in New Delhi’s East of Kailash locality. In the narrow bylanes and tightly-packed old buildings in the area, he can be seen carrying his kettle and Styrofoam cups...
As a marketer, there is nothing above and beyond your brand and it is always advisable to keep all your senses open.
The entrepreneurs of Jammu and Kashmir (J&K) are alleging that the proposed central industrial package for J&K is merely an eyewash and is just pouring salt on the wounds of already suffering Small and Micro industrial sectors.
Bhavin Parmar (33) from Gujarat belongs to a farmer’s family. After completing his MBA in 2012 from IIM Indore, Bhavin decided to give a miss to many lucrative offers rolled by MNCs, and instead, opted to work for a company that gave him an opportunity to go back to his agricultural roots.
Amritsar-based Anil Singhal (64) traces his desire for venturing into the manufacturing sector back to his college days in the early 70s. He says, “My father had a cloth trading business.
“
It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities.
”
