If you are unable to view this mailer, click here.


  The FISME Factor  


President's Message
Mr Animesh SaxenaIndian economy seems to be on the cross roads. In spite of best efforts and policy interventions from time to time during the last two decades, the contribution of manufacturing has remained around 15% in GDP. Therefore, growth of corresponding merchandise exports also has remained stagnant. Naturally it has serious implications for employment and prosperity of the country. In this context, a new industrial policy is being envisaged. Government of India has formed a Working Group also comprising of apex industry bodies, officials of Union economic Ministries and a few States. FISME has been nominated to represent MSMEs. We fully realize the gravity of responsibility and shall soon start intense discussions with MSMEs. I seek inputs and suggestions from all stakeholders. I also take the opportunity to wish you a happy Diwali. "
Animesh Saxena, President, FISME
Vol VII, Issue 189: Oct 15, 2019
Business Banter: Lessons from Entrepreneurs
Moving from the startup phase to a growth phase
Macro Metre
Moody’s cuts India GDP growth forecast to 5.8%
Govt giving sector-specific solutions to fight economic slowdown
Domestic Digest
Office of DC-MSME invites bids from CPSEs to set up 20 Technology Centres across India Knowledge and News Network (KNN)
Working Group for New Industrial Policy constituted by DPIIT
MSMEs still to get benefits of lower lending rates
State Scan
K'taka govt will soon announce new industrial policy with a focus on backward sections Knowledge and News Network (KNN)
Madhya Pradesh Govt puts all industries under state's MPIR Act now
Cement industries in Jharkhand to use plastic waste to generate fuel: Official
World Watch
KSUM, Bahrain sign MoU to promote innovations among startups
India announces TAP in the field of cotton for 5 African countries on World Cotton Day
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

Moving from the startup phase to a growth phase

There are clear tell-tale signs when your startup moves towards the growth phase. At this stage, your business should be generating a consistent source of income and regularly taking on new customers. You will notice that your profits and cash flow have improved. With the teething problems gone, now is the time for steady focus and discipline on how to expand your business towards maturity. To shift gears into the growth phase, a startup needs to change its strategies. It will be a whole new ballgame with a new set of issues demanding your attention. What you need now is more formal processes and systems in place that will help you manage more complicated tasks.
Writing on the Wall

Why India’s financial system keeps lurching from one crisis to another

India’s financial system has been a mess for a while. There have been multiple quick fixes and recapitalization of fragile public sector banks, but problems persist. An important underlying cause is that the dominant part of India’s financial sector, public sector banks, makes commercial decisions based on political signalling. What’s good for the bank’s commercial interest may not necessarily be in sync with the goals of the political executive. In the years after the global financial crisis, there were credible accusations that many loans to big businesses were rolled over on account. ...

Media Monitor

Macro Metre

Moody’s cuts India GDP growth forecast to 5.8%

International rating agency Moody's on Thursday announced the lowering of India's Gross Domestic Products (GDP) growth to 5.8 per cent. This is lowest projection after the Reserve Bank of India cut the GDP growth to 6.1 per cent earlier this month. "We forecast real GDP growth to decline to 5.8 per cent, in the fiscal year ending in March 2020, from 6.8 per cent in fiscal 2018, and to pick up to 6.6 per cent in fiscal 2020, and around 7.0 per cent over the medium term," the agency said.

Govt giving sector-specific solutions to fight economic slowdown

Union Finance Minister Nirmala Sitharaman today said the government is giving sector-specific solutions to fight the slowdown in economic growth. "We are giving relief to all sectors who need help," Sitharaman said. Global ratings agency Moody's Investors Service has sharply cut its FY20 GDP growth forecast for India to 5.8 per cent. India's GDP expansion has slowed to a six-year low of five per cent for the June quarter. The government has been taking measures to combat slowdown including a massive cut in corporate taxes to revive economic growth.

Finance Ministry to kick-start exercise to prepare annual budget for 2020-21 from October 14

In a bid to address critical issues pertaining to slowdown in growth and subdued revenue collection, the finance ministry will kick-start the exercise to prepare annual budget for 2020-21 from October 14. "The pre-Budget/RE (Revised Estimate) meetings will begin on the October 14, 2019. All financial advisers should ensure that the necessary details related to these meetings contained in the RE module of the UBIS (Union Budget Information System)," according to a Budget Circular (2020-21) of the budget division of the finance ministry's Department of Economic Affairs.

Domestic Digest

Office of DC-MSME invites bids from CPSEs to set up 20 Technology Centres across India

The Ministry of Micro, Small and Medium Enterprises (MoMSME) is planning to set up as many as 20 new technology centres across India. In this regard, the office of the Development Commissioner, Ministry of MSME has invited bids from Central Public Sector Enterprises (CPSEs) to be the Project Management Consultant (PMC). The Office of DC-MSMEintends to engage the services of a CPSE as PMC through open tender 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.

Working Group for New Industrial Policy constituted by DPIIT

To give a fillip to manufacturing and attract global value chains in India, Government of India has begun work for moulding a new Industrial Policy. Ministry of Commerce and Industry has constituted a Working Group to be chaired by Secretary, Department for Promotion of lndustry and lnternal Trade (DPIIT), Ministry of Commerce and industry with representation from other central economic Ministries, States and Industry bodies. The Working Group has been tasked to prepare the contours for a new Industrial policy. “The Working Group is to consult stakeholders across the spectrum including domain experts, academia, think-tanks and industry to identify pain points of industry, develop actionable solutions for the short term and medium term and delineate the role for the private sector in achieving the national targets”, says the official communique.

Compliance requirements for MSMEs relaxed, says official

The Government has relaxed the compliance requirements for MSMEs and simplified procedures related to formation of companies, said M.R. Bhat, regional director, southern region, Ministry of company Affairs, here. The move comes with the recent amendments in the Companies Act, 2013, through the Companies (amendment) Act, 2019, he added. Speaking at a meeting organised by the Registrar of Companies jointly with the Indian Chamber of Commerce and Industry, Coimbatore, and Coimbatore chapters of the Institute of Chartered Accountants of India, The Institute of Cost Accountants of India, and the Institute of Company Secretaries of India, he said "It is important to disseminate information related to reform measures of the Union Government."

MSMEs still to get benefits of lower lending rates

Despite Reserve Bank of India's (RBI's) steady rate cuts, the benefits have not been able to pass on to the Micro, Small and Medium Enterprises (MSMEs) as some of the banks are not passing on the benefits of lower lending rates. RBI has been trying to make loan cheaper for corporates and consumers by cutting the repo rate but commercial banks have generally been reluctant in effecting a commensurate cut in interest rate for customers.
State Scan


K'taka govt will soon announce new industrial policy with a focus on backward sections

With the focus on providing more facilities and to encourage members of backward sections to take up industrial activities in Karnataka, the new industrial policy to be announced shortly, said Jagadish Shettar, Minister for Medium and Heavy Industries. Speaking after inaugurating the Valmiki Jayanti programme organised by district administration in association with the Department of Social Welfare on the Karnatak Vidyavardhak Sangha premises here, Shettar said that the existing industrial policy for 2014-19 would expire in the month of November and the process of drafting the new industrial policy is under progress.


Eight logistics parks will be developed along ORR, says KTR

Telangana's Industry Minister K T Rama Rao has said that as many as eight logistics parks will be developed along Outer Ring Road (ORR) as part of the plans to make Hyderabad a global city by focusing on development of the suburbs. After inaugurating a logistic park on Friday, the minister informed that the world’s largest pharmaceutical cluster was also coming up at Mucherla, spread over 18,000-19,000 acres. He also informed that the Pharma City would be equipped with the latest technology.

Madhya Pradesh    

Madhya Pradesh Govt puts all industries under state's MPIR Act now

The Madhya Pradesh government has put restriction on lockouts and strikes by rescinding a 2017 notification which had put 11 categories of Industrial units out of the purview of MP Industrial Resolution Act 1960 (MPIR act). Now, all industries in MP will be governed by the state act. Earlier, these industries had to follow the central Industrial Disputes Act. According to a media report, the MPIR Act makes lockouts and strikes at factories illegal and allows registered representative unions to participate in important decision making and settlement labour disputes, unlike the present scenario when power lies in hands of multiple groups and unions.


Cement industries in Jharkhand to use plastic waste to generate fuel: Official

In an initiative to make India a plastic free country, cement industries in Jharkhand will use plastic waste collected through various sources as fuel, said an official. According to media reports, Jharkhand State Pollution Control Board, Chairman AK Rastogi, said that Jhinkpani cement factory located in West Singhbhum district will be the first to adopt the technology. “We are prepared to process plastic-waste at Jhinkpani cement factory where it will be used as an alternate fuel,” he added. The move aims at making use of plastics waste in generating fuels.
World Watch


KSUM, Bahrain sign MoU to promote innovations among startups

The Kerala Startup Mission and Bahrain Economic Development Board, the Gulf state's investment promotion agency, have signed a Memorandum of Understanding (MoU) to promote innovations among startups from the field of fintech and Information and communications technology. Ashok Kurian Panjikaran, Manager, Business Development, KSUM, and Dharmi Magdani, Regional Director, India, Bahrain EDB, exchanged the MoU on the sidelines of the 39th annual GITEX Technology Week in Dubai.
Read More    Back to Top


India announces TAP in the field of cotton for 5 African countries on World Cotton Day

Union Textiles Minister Smriti Zubin Irani announced the launch of the second phase of the Cotton Technical Assistance Programme (TAP) in the field of Cotton for Africa at the Partners Conference in Geneva. Speaking at World Cotton Day program here, she said "In the five year long second phase, the program will be scaled up in size and coverage and will be introduced in five additional countries, namely Mali, Ghana, Togo, Zambia and Tanzania." The Cotton TAP programme will now cover 11 African countries including the C4 (Benin, Burkina Faso, Chad and Mali), she added.
Read More    Back to Top


Gujarat govt signs MoU with China Association of SME to set up China industrial park at Dholera SIR

In a bid to attract investments in the state, the Gujarat government has signed an MoU with the China Association of Small and Medium Enterprises (CASME) to set up a China Industrial Park at the Dholera Special Investment Region (SIR). The MoU is estimated to attract Rs 10,500-crore investment by Chinese SME units in pollution-free, high-tech areas and create 15,000 direct and indirect jobs at local level.
Read More    Back to Top
FISME’s official Twitter handle
Knowledge and News Network (KNN)
KNN India’s official Twitter handle
Anil Bhardwaj, Secretary General
Other Events

Indian Handicrafts & Gifts Delhi Fair (Autumn)

Date: 16-20 Oct 2019
Venue: India Exposition Mart, Greater Noida
See Details


Date: 17-19 Oct 2019
Venue: Bombay Exhibition Centre (BEC), Mumbai
See Details

Solar Today Expo- Electric Vehicles Expo- Battery Expo- LED India Expo

Date: 17-19 Oct 2019
Venue: Mahatma Mandir Exhibition Hall, Gandhinagar
See Details

Vibrant Goa Global Expo And Summit

Date: 17-19 Oct 2019
Venue: Dr Shyama Prasad Mukherjee Stadium, Taleigao
See Details

The Economic Times Acetech Bengaluru

Date: 18-20 Oct 2019
Venue: BIEC Bengaluru International Exhibition Centre, Bengaluru
See Details

World Dental Show

Date: 18-20 Oct 2019
Venue: MMRDA Grounds, Mumbai
See Details
Your Views

Do you think that the measures announced by the finance minister to stabilise the Indian economy will be beneficial for Indian MSME?

According to FISME factor 50% of MSMEs think that the measures announced by the finance minister to stabilise the Indian economy will be beneficial for Indian MSME, 37.5% think it will not while 12.5% can’t say.
Knowledge Store

HR Heuristics

How team rituals can improve workforce performance

A ritualis defined as a series of actions or a specific type of behaviour exhibited periodically and without questioning by someone. They are actions performed by individuals or groups that bring meaningful and sometimes senseless but magical meaning into their experiences. Rituals are powerful tools that can enable you to form a new habit and get rid of old habits, improve and build relationships, and bring about transformation.

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

Five ways to build a compelling brand story

At the water cooler, my colleague Zia frowned at me. ‘So, I read your article on business storytelling and I tend to agree with it’, she started. ‘How do I create a compelling brand story? I have all these great stories of the work that we have done for our clients, but I just don’t know where and how to begin. It’s the beginning of the story where I falter.’

Policy Polemic

Import of dairy products under RCEP would be detrimental to Indian dairy industry

Fearing the threat to the dairy industry, the Confederation of All India Traders (CAIT) has asked Prime Minister Narendra Modi to exclude dairy products from the purview of the proposed RCEP agreement to protect domestic dairy farmers as India is the world's largest producer of milk.

SME Special

Meet the changemaker whose startup is working to make women in rural Maharashtra self-reliant

Wasudev Mishra (20) comes from a village in Vidarbha, Maharashtra, where he grew up witnessing first hand the consequences of poverty and unemployment. His family, on many occasions, could not afford school supplies. It was even more troubling when girls from his community were being forced to quit school because their families couldn't afford it.

Success Story

Clocking Rs 20 Cr turnover, this entrepreneur from small-town Jalore found success in Bengaluru with his agarbatti brand

Chamundi Agarbathi is a Bengaluru-based brand that was started in 2010 in a 1,200 sq ft space. The company now exports its agarbathis to various countries, recording an annual turnover of Rs 20 crore.


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

Quotable Quotes

“ Genius is one percent inspiration, ninety-nine percent perspiration. ”
– - Thomas Alva Edison -An American Inventor and Businessman
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 1st October 2019 to 15th 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.
send mail to: newsletter@fisme.org.in
   Bach to Top
Editorial Team:
Hon. Editor: Anil Bhardwaj
Asstt. Editor: Kalpana Sharma
Types setting & websdesigning: Sanjay Sachan  
Video & Photography:  Subhan Khan


You are receiving this Newsletter because you are included in our mailing list of recipients who are involved or interested in FISME or Indian MSMEs. You are welcome to partly or fully reproduce and disseminate the contents of this publication provided that you acknowledge the source.

To subscribe/unsubscribe to this Newsletter
click subscribe or unsubscribe

This Newsletter is edited by the FISME Secretariat. We welcome contributions as well as comments and suggestions. Please write to newsletter@fisme.org.in
Federation of Indian Micro and Small & Medium Enterprises (FISME)
Headquarter: B – 4 / 161, Safdarjung Enclave, New Delhi – 110029
Telephone: +91 11 26187948, +91 11 26712064, +91 11 46023157   Fax: +91 – 11 – 26109470
Email: info@fisme.org.in ,   Website: www.fisme.org.in
57/5, Family YMCA Building,
Millers Road, Benson Town,
Bangalore - 560046
Tel: +91-80-23543589
Email: bangalore@fisme.org.in
H. No. 6-3-569 / 1/2/4
2nd floor, Rockdale Compound, Somajiguda
Hyderabad – 500082
Tel: +91- 40- 23322117 Fax: +91 -40- 23312116
Email: hyderabad@fisme.org.in
Tel: +91- 11- 4364 2013
Email: chamber.jw@fisme.org.in
Tel: +91 -11- 46035866
Email: chamber.mpur@fisme.org.in
Tel: +91 -11- 4106 8644
Email: kalkaji@fisme.org.in