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  The FISME Factor  


President's Message
Mr Animesh SaxenaNo matter what data set we pick, all of them allude to slowing down of Indian economy. The need to accelerate economic growth remains for creating jobs and provide employment to millions of people. But as the domestic markets are subdued, exports can be a good source to bring in the extra push needed for growth. After all, our competing economies in East and South East Asia continue to clock double digit growth in exports. However, it is rather unfortunate that Indian exports have been hit by self-inflicted injuries. Firstly, it was problems in implementation of GST because of which refund of thousands of exporters have remained stuck since 2017. Then, huge uncertainty arose due to incompatibility of export promotion schemes such as DEPB and MEIS. The confusion persists about their future as well as their alternatives. It is restricting exporters from entering into long term contracts. Further, GST department have created a risk profile of a large number of exporters and their claims are being checked minutely. While nobody is against the scrutiny but because no additional staff was deployed, this has slowed down the whole process of clearing export consignments and GST refunds. All such exporters have pending refund claims since June 2019. Exporters allege that the GST officials keep asking for new set of documents to verify claims. It is simply harassment of genuine exporters. These developments have pulled down exports growth. "
Animesh Saxena, President, FISME
Vol VII, Issue 191: Nov 15, 2019
Business Banter: Lessons from Entrepreneurs
5 Problem-solving Skills Every Entrepreneur Needs
Macro Metre
WPI inflation at 3 year low; inflation for manufactured items was at -0.84% in Oct compared to -0.42% in Sept
MSMEs top industry credit as monthly growth turns positive in Sept
Domestic Digest
Govt to buy 10 per cent bonds to support MSMEs, says Nitin Gadkari Knowledge and News Network (KNN)
CCMB supports 50 MSMEs
Khadi half yearly retail jumps by 3.44 cr from previous year
State Scan
Punjab Govt handholding its MSME players to sell their products Knowledge and News Network (KNN)
Odisha is an ideal destination for investment: MSME Minister Dibya Sankar Mishra
Telangana govt to set up 14 industrial parks across 14 districts
World Watch
TPCI partners with Singapore's Monetary Authority for handholding SME exporters of India
Fresh probes against Indian forged steel fittings by US
Knowledge Store
MSME Funding: 3 Ways To Get Collateral Free Loan
...And A Lot More

Working Group on
New Industrial Policy

Government of India begins work for new Industrial Policy; Working Group set up with apex industry bodies CII, FICCI, ASSOCHAM and FISME.  Please share your comments and suggestions and questions the Industrial Policy must address at sg@fisme.org.in 

Business Banter: Lessons from Entrepreneurs

5 Problem-solving Skills Every Entrepreneur Needs

During my years in the industry as a mentor, teacher, solopreneur and serial entrepreneur, I’ve met many other entrepreneurs across the world. Some have succeeded monetarily beyond their own wildest dreams, many have failed, and many of the latter have picked themselves up and persevered to enjoy eventual success. It’s been a particular hobby of mine to study what helps the ones who succeed. What particular traits or skills do they embody that have separated them from the ones who don’t? I realised very quickly that for entrepreneurs to succeed, they need to have outstanding skills in the area of problem solving; whether in the space of employees and suppliers, whether with customers, whether with the ecosystem at large, or even solving mundane problems such as lack of water in the office.
Writing on the Wall

Export and reform: If RCEP failed, look to other trading blocs. Isolationism is not an option

India’s long negotiations over Regional Comprehensive Economic Partnership (RCEP) may be over for the moment. But the search for a fruitful conclusion to other long standing negotiations such as the proposed free trade agreement with EU must continue. Isolationism is not an option. From a practical standpoint, it’s not realistic to turn inwards in the search for efficiency before opening up again. Being plugged into the global economy through trade agreements and enhancing domestic competitiveness are interrelated. Therefore, government must pursue domestic reforms simultaneously with negotiations to expand India’s basket of trade agreements. India has trade agreements of some sort with about 54 countries. This is the global norm. Of the 164 WTO members, most are members of one regional trade agreement or the other. These trade agreements cover more than half of international trade. Given this backdrop, India’s decision making should be guided by a major feature of international trade: regional trade agreements can lead to trade diversion.

Media Monitor

Macro Metre

WPI inflation at 3 year low; inflation for manufactured items was at -0.84% in Oct compared to -0.42% in Sept

Touching the lowest mark in more than three years, India's wholesale inflation or WPI dipped marginally for the month of October at 0.16 per cent compared to 0.33 per cent in September. The inflation for manufactured items was at -0.84% in October compared to -0.42% in September. The inflation for manufactured items was at -0.84% in October compared to -0.42% in September. This is owing to demand slowdown in the economy because of which many producers are cutting back on production and also offering discounts. WPI Core inflation for October stood at -1.6% versus -1.1% in September reflecting a further softening of commodity prices. Food article inflation came in at 9.8% in October from 7.47% in September which prevented the index from falling into a negative territory. Inflation in fuel and power stood at -8.27% in the month of October -7.05% in September. The WPI inflation figures for primary articles stood at 6.41% as against 5.54% in September. Retail inflation, as measured by the Consumer Price Index (CPI), touched a 16-month high as it rose to 4.62% in October, up from 3.99% in September, thereby breaching the central bank's medium-term target of 4% in October for the first time in 15 months, on the back of higher food prices.

SBI reduces MCLR rates by 5 bps

India's largest public sector bank State Bank of India (SBI) has announced cut in deposit as well as lending rates with effect from November 10. SBI on Friday cut its Marginal Cost of Funds based Lending Rate (MCLR) by 5 basis points across all tenors. The bank also revised in fixed deposit rates (FD) rates by 15 basis points for deposits of one year to less than two years maturity. SBI has become the second bank in less than a week to announce lending rate cut. Private bank HDFC reduced MCLR rate by 10 basis points effective November 7, 2019. The one year MCLR has come down to 8 per cent per annum from 8.05 per cent per annum with effect from November 10, 2019.

MSMEs top industry credit as monthly growth turns positive in Sept

In the current financial year for the month of September, monthly growth in credit to industry has turned positive by Rs 9,700 crore out of which Rs 8,200 crore is accredited to the Micro Small and Medium Enterprises (MSME) sector with a 6.2 per cent year-on-year growth though down from 9.5 per cent in September 2018, says an SBI report. According to SBI Ecowrap report, the credit flow in April this year to MSMEs stood negative at Rs 1,200 crore. Overall “credit growth has picked up rapid pace beginning September 2019 jumping by Rs 1.08 lakh crore, courtesy, Housing, NBFC and lately MSME.”

Domestic Digest

Govt to buy 10 per cent bonds to support MSMEs, says Nitin Gadkari

Union Minister for Micro Small and Medium Enterprises (MSMEs) Nitin Gadkari has said that the government would buy 10 per cent of the bonds issued by the MSMEs to support them in dealing with the capital market. ''Now thousands of companies are in the queue and they are going for capital market. Suppose, they are going to raise the bond issue through capital market, 10 percent will be purchased by the government. We are giving them support," he said while addressing International Women's Entrepreneurial Challenge Foundation recently.

CCMB supports 50 MSMEs

Centre for Cellular and Molecular Biology (CCMB) Director Rakesh Mishra has said that the later has extended support to 50 Micro Small and Medium Enterprises (MSMEs) under the Common Research and Technology Development Hubs (CRTDHs) programme. To mark the fifth anniversary of the establishment of Common Research and Technology Development Hubs (CRDTH) next month, the two-day conclave was organised at CSIR-Centre for Cellular and Molecular Biology (CCMB) at Habsiguda.

DC-MSME to engage CPSEs for establishing 20 Technology Centres across India

The Office of Development Commissioner, Ministry of Micro, Small and Medium Enterprises wants to rope in a Public Sector Enterprises (CPSE) for establishment of technology centers across India. DC MSME is planning to establish as many as 20 TCs across India at an approximate cost of Rs 3600 crores. In this context, Office of Development Commissioner (MSME), Ministry of MSME, Government of India intends to engage the services of a CPSE as Project Management Consultant (PMC) for planning, design & monitoring of civil infrastructure, procurement of machines, contract management and providing implementation & monitoring support in establishment of 20 Technology Centres across India.

Khadi half yearly retail jumps by 3.44 cr from previous year

Khadi and Village Industries Commission (KVIC) has recorded a higher sale of Rs 3.44 crores, according to a release. The sale from April to October 2018 was Rs. 33.03 crores, however, in the current year from April to October 2019 the sale has recorded Rs. 36.47 crores. ''It is quite commendable that KHADI INDIA CP Store has not only been able to sustain, but also registered a higher sale of more than 10%, although in Khadi sector April to September is considered as slack period,'' said VK Saxena, Chairman KVIC.
State Scan


Punjab Govt handholding its MSME players to sell their products online

The Punjab Government has collaborated with a e-commerce player, Pumpkart, to enable micro, small and medium enterprises (MSMEs) from across Punjab to explore the untapped markets and sell their products online. With an aim to reduce transaction cost, approach untapped markets and avoid intermediaries for MSMEs in the state, the Punjab Government has signed a Memorandum of Understanding (MoU) with Punjab-based B2B e-commerce player Pumpkart. Vini Mahajan, Additional Chief Secretary, Industries & Commerce, Punjab said the signing of MoU will go a long way in promoting MSMEs of Punjab.


Odisha is an ideal destination for investment: MSME Minister Dibya Sankar Mishra

Minister of State for Industries and Micro Small and Medium Enterprises (MSME) Dibya Sankar Mishra has invited investors to set up manufacturing units in the State. Terming chemicals and petrochemicals as one of the major priority sectors in Odisha at a two-day summit on ‘Global Chemicals and Petrochemicals Manufacturing Hubs in India’ in Mumbai on Monday, the minister also lauded the state and said it is an ideal destination for investment. “Odisha is an ideal destination for investment as it enjoys a stable political environment, has zero tolerance to corruption, low operation cost and a seamless single window scheme for faster clearance of projects,” Mishra said.


Telangana govt to set up 14 industrial parks across 14 districts

The Telangana Government has decided to set up industrial parks in rural areas across 14 districts of the state as part of industrial expansion. Proposals have also been made for the formation of Autonagar in 10 districts. Work for the same will start soon in lands acquired by the government. Since, the government announced decentralization as part of the new industrial policy, one to five industrial units are being prepared for the district which are entirely devoted to rural areas. The government has also directed to the industry department and the Telangana State Industrial Infrastructure Corporation (TSIIC) to plan for it. Both industry Minister KTR and Chief Minister KCR has approved the proposals for new parks.
World Watch


TPCI partners with Singapore's Monetary Authority for handholding SME exporters of India

The Trade Promotion Council of India (TPCI) has signed a Memorandum of Understanding (MoU) with the Monetary Authority of Singapore (MAS) for boosting the Small Medium Enterprise (SME) exports from India to key international markets though a landmark online trade platform called BSB. The High Commission of India in Singapore has played a key role in supporting this future platform, linking India business with Singapore and other global markets. High Commissioner of India to Singapore Jawed Ashraf was also present. Business sans Borders is a hybrid business data and digital solutions hub, which leverages artificial intelligence to facilitate the matching of demand and supply of goods and services between businesses, including small and medium-sized enterprises. “TPCI was ready with its digital infrastructure and is eager to the first hand mover in leveraging the idea of export promotion using new age fin- teach system. This system will facilitate seamless business through a public online infrastructure and will offer services like; connecting buyers and sellers of different countries, helping exporters in custom clearances, financing options, issuing LCs, facilitate escrow account, custom advisory, amplify efforts in trading across borders, quick ways of doing business, etc,” said TPCI Chairman Mohit Singla while speaking on the tie-up.
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United States of America    

Fresh probes against Indian forged steel fittings by US

The United States has initiated new anti-dumping duty and countervailing duty investigations to determine whether forged steel fittings from India and Korea are being dumped there and to find out whether producers in India are receiving unfair subsidies. “There are 45 subsidy programmes alleged for India, including allegations that the Government of India provides export subsidies, as well as subsidised financing, land, steel, and other raw materials,” the US Department of Commerce said on Thursday. The probe comes amid commerce and industry minister Piyush Goyal’s ongoing visit to the US as the two sides try to iron out issues to arrive at a bilateral trade package. In 2018, imports of forged steel fittings from India and Korea were valued at an estimated $92.6 million and $67.6 million, respectively. The investigations were initiated on the basis of petitions filed by Bonney Forge Corporation and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union. The alleged dumping margins range from 52.48-293.4% for India and 45.31-198.38% for Korea.
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FISME’s official Twitter handle
Knowledge and News Network (KNN)
KNN India’s official Twitter handle
Anil Bhardwaj, Secretary General
Other Events

India International Trade Fair

Date: 14 - 27 Nov 2019
Venue: Pragati Maidan
See Details

techtextil India

Date: 20 - 22 Nov 2019
Venue: Bombay Exhibition Centre (BEC), Mumbai
See Details


Date: 20 - 22 Nov 2019
Venue: BIEC Bengaluru International Exhibition Centre, Bengaluru
See Details

World Tea & Coffee Expo-Mumbai

Date: 21 - 23 Nov 2019
Venue: Bombay Exhibition Centre (BEC), Mumbai
See Details


Date: 21 - 24 Nov 2019
Venue: Helipad, Gandhinagar
See Details


Date: 21 - 25 Nov 2019
Venue: Thakkers Dome, Nashik
See Details


Date: 22 - 25 Nov 2019
Venue: Reshimbagh Ground, Nagpur
See Details
Your Views

India moves up 14 places to 63rd position in World Bank's Doing Business 2020 survey. Do you feel situation has improved at ground?

As India moves up 14 places to 63rd position in World Bank's Doing Business 2020 survey. According to FISME factor 57.1% MSMEs think that situation has improved at ground, 14.3% think it has not improved while 28.6% can’t say.
Knowledge Store

HR Heuristics

How is visibility of employees essential for their engagement?

Visibility is important in every sphere. Brands need to be visible to do well in the market. Actors need to be visible in order to retain their space in their fans’ hearts. Why go far, given the maddening pace of life today, both at home and at work, each one of us needs to be visible lest we be forgotten by our friends and neighbours! Visibility is important to everyone, even to employees because building one’s personal brand has also become essential in the corporate world.

Finance Fundamentals

MSME Funding: 3 Ways To Get Collateral Free Loan

Micro, Small and Medium Enterprises (MSMEs) are the backbone of any economy, contributing significantly to gross domestic product (GDP), exports and job creation. In India, MSMEs contributed about 29 per cent to the GDP in financial year 2017, as per Small Industries Development Bank of India (SIDBI) report, making it a crucial driver of the country’s economic growth.

Marketing Mantras

Top 6 Social Media Strategies to Follow in 2019

Whether you are running a small company or a multinational brand, your business needs to have a strong social media presence. Social media platforms are miraculous, as they help in creating brand awareness and getting people inclined towards the business domain. These days brands tend to bring forth unique and slightly controversial ideas to be in the spotlight.

Policy Polemic

Ahmed Patel raises issue of MSMEs' bad loans with Nitin Gadkari

Senior Congress leader Ahmed Patel on Wednesday met Union Minister for Micro Small and Medium Enterprises (MSME) Nitin Gadkari and raised concern about the increasing bad loans in it. Reportedly, he went to meet Gadkari regarding farmer related issues where he also released a letter written to Gadkari regarding MSME sector of Gujarat

SME Special

Thiruvananthapuram-based Embright Infotech uses AI, AR/VR to help autistic children learn better

According to the Centre of Autism Disease Control and Prevention survey, the ratio of children diagnosed with Autism Spectrum Disorder (ASD) all around the world is 1:59. Diagnosing ASD is difficult as there is no medical test to detect it.

Success Story

How Bengaluru-based startup 100Pillars builds and renovates homes without construction woes

Building a house is a dream for any individual. Renovating a legacy property is a labour of love. Yet, the Indian construction industry is known for its lack of transparency and riddled with problems. Bengaluru-based startup 100Pillars Constructions has changed all this by making the construction of a house a simple process.


The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation is releasing CPI (Rural, Urban, Combined) on Base 2012=100 for the month of October 2019.

Quotable Quotes

“ When everything seems to be going against you, remember that the airplane takes off against the wind, not with it. ”
– - Henry Ford – An American Industrialist and the founder of the Ford Motor Company
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:
New Members

1 New Member Join FISME

1 new MSME became members of FISME during the period from 16th October 2019 to 31st October 2019
Reader Reactions

Write and Win prize!

Write your comments on the FISME Factor. Share your views and suggestions on MSME issues. Win prize! The best mail will get a special book every fortnight.
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Editorial Team:
Hon. Editor: Anil Bhardwaj
Asstt. Editor: Kalpana Sharma
Types setting & websdesigning: Sanjay Sachan  
Video & Photography:  Subhan Khan


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