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President's Message
The COVID-19 pandemic has created unprecedented upheaval in all aspects of human life. MSMEs in India are having sleepless nights since the announcements of lock-down. Governments are goading employers to ensure payment of salaries, whether business are open or closed ! All kind of liabilities stare them with no business in sight. In such times it is better to listen to all concerned empathetically. FISME invited MSME associations to a Whatsapp group on COVID which got filled within hours. It led us to start second group which also became full within days. What was particularly interesting was that these groups led to animated discussions: problems, fears and suggestions. We further organized a Video conference with DCMSME and office bearers of industry associations. By the end of week we tabulated these concerns and handed our suggestions to DC MSME, Ministry of MSME. What is satisfying is most of the top suggestions considered by Ministry of MSMEs and eventually found their way to Group of Ministers to be part of the economic relief package to be announced shortly. I personally feel our top demand of Government picking the salary bills of employees should be considered. Now that the first signs of reopening of economy are visible, I wish my colleagues who will reopen businesses from 20th April a hassle-free start. FISME and its support mechanism are around and ready to take up any of your concern to the top to get it addressed.
"
After establishing two highly interactive Whatsapp groups : COVID-19 MSME helpline, FISME organized an interactive session with Shri Ram Mohan Mishra, Development Commissioner. Ministry of MSME on 7th April 2020. Around 100 office bearers representing MSME associations from across eth country participated. DCMSME asked FISME to tabulated the suggestions emanated in the VC and present it to DC MSME office. Mr. Animesh Saxena President FISME welcomed participants and Anil Bhardwaj Secretary General conducted the VC.
Currently, every nation in this world is fighting against COVID-19 caused by the deadly coronavirus. Infected cases have been increasing every day around the world and have severely affected India too.
By now, we have seen people losing their life but I personally feel we can stop further spreading of the virus by just maintaining basic hygiene, taking precautions and acting as responsible citizens. Prime Minister Narendra Modi has also asked all the Indians not to panic but to take precautions.
The national Covid-19 lockdown and consequent loss of production call for a package of proactive measures to boost credit availability for India’s micro, small and medium enterprises (MSMEs). The MSME sector accounts for about 40% of exports and almost a third of national output, and it is critical to address loss of revenue so as to purposefully avoid closure of units and damage to livelihoods. An estimated 6.3 crore MSME units employ 11 crore persons across the country, and it is only fitting that the sector is provided credit guarantees and interest subventions to survive the lockdown. True, the Small Industries Development Bank of India..
The Directorate General of Foreign Trade (DGFT) has relaxed the provision for submission of physical copy of application for availing Transport and Marketing Assistance (TMA) on specified agriculture products.
Making an amendment in the Handbook of Procedures, DGFT said, “…for the applications filed electronically on or after February 1, 2020 upto September 30, 2020, physical pdf copy of the print out of ANF-7(A)A along with prescribed documents can be filed manually with RA concerned upto October 30, 2020.
The retail inflation has eased to 5.91 per cent in March over the previous month, mainly due to easing food prices, government data showed on Monday.
The retail inflation based on Consumer Price Index (CPI) was 6.58 per cent in February 2020 and 2.86 per cent in March 2019.
The inflation in the food basket was 8.76 per cent in March 2020, lower from 10.81 per cent in the previous month, as per the CPI data released by the National Statistical Office (NSO).
The Reserve Bank of India mainly factors in the retail inflation while deciding its bi-monthly monetary policy.
The Commerce Ministry has taken several measures to address hardships faced by exporters due to COVID-19 pandemic.
"In order to give relief to businesses and affected individuals amidst the stress caused by the novel coronavirus pandemic, the department of commerce has introduced several relaxations and extensions in deadlines etc. with regard to compliances mandated under its schemes and activities," a Commerce Ministry statement said.
The government has said that it would release all Goods and Service Tax (GST) & Customs refunds to provide benefit to around 1 lakh business entities including Micro, Small and Medium Enterprises (MSMEs).
It has been decided to issue all pending GST and Custom refunds which would provide benefit to around 1 lakh business entities, including MSME. Thus, the total refund granted will be approximately Rs. 18,000 crore,'' said an official statement on Wednesday.
The Ministry of Textiles has said that the entities can exercise an option for getting the JIT recommended subsidy released prior to scrutiny of the JIT reports by respective authorities as per delegated powers, subject to submission of Bank Guarantee equivalent to recommended subsidy.
The Ministry of Textiles had proposed easing out the norms under Amended Technology Upgradation Fund Scheme (TUFS) during post lockdown period of Covid-19 outbreak.
The Small Industries Development Bank of India (SIDBI) has announced to provide emergency working capital against confirmed government orders, under which revolving working capital term loans shall be provided of up to Rs 1 crore.f
According to a release, the new loan product, SIDBI Assistance to Facilitate Emergency response against coronavirus (SAFE) plus will be offered collateral free and disbursed within 48 hours.
NITI Aayog, country's think tank, has come forward to help manufacturers and suppliers with smooth transportation of goods.
NITI Aayog has offered to facilitate manufacturers and suppliers if they face any issue on transportation front, according to an industry source. They will facilitate the transportation through the department of post.
Recently, the All India Motor Transport Congress, which represents nearly 90 lakh truck owners, had written to the Ministry of Road Transport and Highways to say that essential services should also be provided to the truckers who could neither reach their place of residence or native place due to the lockdown.
The District Magistrate of Dadar and Nagar Haveli has allowed all the industrial establishments that have been exempted from the lockdown, to continue to run their industry by employing minimum required number of workers.
Most of the micro small and medium enterprises (MSMEs) has engaged in the production/ manufacturing of essential commodities across the country.
In an order, the District Magistrate of D&NH Sandeep Kumar Singh said, “all the industrial establishments that have been exempted from the Lockdown, may continue to run their respective industry by employing minimum required number of workers and during the said Lockdown.”
The Micro Small and Medium Enterprises (MSMEs) in Jammu and Kashmir have urged have urged the Lt Governor, G C Murmu to provide immediate relief to industrial sector of J&K by deferring electricity bills and waiving-off minimum /demand charges for closed as well as working units manufacturing essential commodities and their supply chain due to lockdown.
"We draw kind attention of Lt Governor towards non-working of majority of the units, not covered under essential commodities due to lockdown since March 24, 2020, resulting in a difficult situation for unit-holders to pay electricity bills as their units were closed, non-receipt of payments from suppliers for sale of materials in February and March 2020 and other related financial constraints," Lalit Mahajan, President BBIA said in a statement issued here.
The Himachal Pradesh Chief Minister Jai Ram Thakur has written to the Labour Minister Santosh Kumar Gangwar to direct Employees State Insurance corporation (ESIC) provide financial assistance to workers registered to with ESIC amid lockdown.
In its letter to Gangwar, accessed by KNN India, Thakur asserted that the state may find it difficult to abide by government's order to make payment to their workers, on the due date without any deduction. ''I would like to apprise you that the industrial sector in Himachal Pradesh may find it difficult and even in some cases impossible t comply with the government directions to continue to pay wages for the lockdown period as the overall industrial setup is not that sound and strengthened,'' the letter read.
The Punjab Chief Minister Amarinder Singh today announced a reduction in the fixed charges for electricity consumers and also deferment of the deadline for payment of bills.
He told the power department to provide uninterrupted 24x7 supply to all healthcare institutions.
The PSPCL will have to bear an additional burden of Rs 350 crore due to the various reliefs announced for the consumers, an official spokesperson said, adding that the Chief Minister also lauded the employees for their untiring efforts in maintaining a continuous supply of power in this time of crisis.he
No disconnection would be carried out for non-payment of bills for now, the Chief Minister said.
India will continue its medical supplies to Nepal to fight Covid-19 and ensure smooth cross-border trade while Kathmandu hailed Delhi’s efforts to combat the disease in the region amid Pak efforts to undermine the process launched on March 15.
Prime Minister K P Sharma Oli and the Prime Minister of India Narendra Modi held telephone conversation. The two Prime Ministers discussed about the present situation of fight against COVID-19 and agreed to further intensify the ongoing efforts.
Assam Chief Minister Sarbananda Sonowal has asked the Baksa district administration to take measures to stop movement across the Indo-Bhutan border in the district and to enforce the lockdown completely.
Chief Minister Sonowal directed this to the Deputy Commissioner and Superintendent of Police while visiting the district to assess its preparedness to deal with novel coronavirus outbreak. Sonowal said that in view of the COVID-19 outbreak the district administration should essentially focus on three pronged agenda like protection of health, maintenance of supply chain and complete adherence to lockdown to wage a war against novel coronavirus.
Do you think that government has taken adequate initiatives to revive Indian MSMEs, amid COVID-19 lockdown?
According to FISME factor, amid COVID-19 lockdown 42.9% MSMES think that government has taken adequate initiatives to revive Indian MSMEs while 57.1% don't think so.
Will the workplace be more flexible post lockdown?
The lockdown has taught us many lessons and also transformed workplace practices like never before. Both the organisation and the employees have enjoyed the flexibility and have focused more on deliverables, while telecommuting.
Will India Inc. retain this flexibility at the workplace? Will it be less rigid on certain aspects and continue to focus just on deliverables?
3 Financial Steps Small-Business Owners Should Take Right Now
The nation’s small businesses are struggling, and there’s no clear picture of when the current crisis will be over and things will be back to normal. It’s a tough situation for any company to be in, and even a $2 trillion stimulus package won’t be able to alleviate the worries for many small businesses yet.
Ben Richmond, U.S. country manager for accounting-software platform Xero, shares the three financial steps small-business owners should take to get their companies in the best possible position. Read on for his tips.
How Strategic Search Investments Can Improve Brand Awareness and Generate Business
We are living in interesting times. With digital channels fueling the growth stories of big and small businesses in India, having a concrete search strategy in place is not only a unique differentiator, but a license to play, and win, in an already saturated market. As per a report published by McKinsey Global Institute in 2019, 85 per cent of businesses in India consider digital as an investment priority. While enterprises stay ahead of the curve with more spending into paid search and display, small businesses are leaning towards SEO to reach out to prospects.
MSMEs don’t have adequate liquidity to pay wages to employees for April: FIEO
The micro, small and medium enterprises (MSMEs) do not have adequate liquidity to pay wages to their employees for the month of April as they are unable to conduct any business activity during the lockdown, said the apex body for exporters in the country.
The Federation of Indian Export Organisations (FIEO) said the government should immediately announce an incentive package and give permisssion for partial resumption of operations in manufacturing units.
Transforming unused spaces into live food gardens, this Mumbai startup is showing the way to go organic
Food is not grown the way it used to be. Vegetables, grains, and fruits are liberally doused with chemicals and fertilizers, and consuming them has only led to an increased rate of cancer, and other deadly diseases across the world. In India too, there has been a rising concern about the quality of food produced. And this has led to a slow but increasing demand for organic food. The organic food market in the country is estimated at Rs 1,500 crore, and is expected to double to Rs 3,000 crore in the next three years. To address this growing concern and need to eat healthy, and help citizens consume healthy food, Linesh Narayan Pillai (46) co-founded Urban Green Fate (UGF) Farms in 2017.
Starting from a small room, this entrepreneur built a Rs 1,000 Cr snacks company
Luck did not seem to favour Amit Kumat when he decided to become an entrepreneur. Despite working in the snacks industry for a decade, he chose to become a chemicals manufacturer.
In less than a year, Amit was in Rs 6 crore debt. He shut the business, repaid his creditors, and contemplated his next move.
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 March (Provisional) and February 2020 (Final) in this press note..
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:
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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The COVID-19 pandemic has created unprecedented upheaval in all aspects of human life. MSMEs in India are having sleepless nights since the announcements of lock-down. Governments are goading employers to ensure payment of salaries, whether business are open or closed ! All kind of liabilities stare them with no business in sight. In such times it is better to listen to all concerned empathetically. FISME invited MSME associations to a Whatsapp group on COVID which got filled within hours. It led us to start second group which also became full within days. What was particularly interesting was that these groups led to animated discussions: problems, fears and suggestions. We further organized a Video conference with DCMSME and office bearers of industry associations. By the end of week we tabulated these concerns and handed our suggestions to DC MSME, Ministry of MSME. What is satisfying is most of the top suggestions considered by Ministry of MSMEs and eventually found their way to Group of Ministers to be part of the economic relief package to be announced shortly. I personally feel our top demand of Government picking the salary bills of employees should be considered. Now that the first signs of reopening of economy are visible, I wish my colleagues who will reopen businesses from 20th April a hassle-free start. FISME and its support mechanism are around and ready to take up any of your concern to the top to get it addressed.
"
After establishing two highly interactive Whatsapp groups : COVID-19 MSME helpline, FISME organized an interactive session with Shri Ram Mohan Mishra, Development Commissioner. Ministry of MSME on 7th April 2020. Around 100 office bearers representing MSME associations from across eth country participated. DCMSME asked FISME to tabulated the suggestions emanated in the VC and present it to DC MSME office. Mr. Animesh Saxena President FISME welcomed participants and Anil Bhardwaj Secretary General conducted the VC.
Currently, every nation in this world is fighting against COVID-19 caused by the deadly coronavirus. Infected cases have been increasing every day around the world and have severely affected India too.
By now, we have seen people losing their life but I personally feel we can stop further spreading of the virus by just maintaining basic hygiene, taking precautions and acting as responsible citizens. Prime Minister Narendra Modi has also asked all the Indians not to panic but to take precautions.
The Directorate General of Foreign Trade (DGFT) has relaxed the provision for submission of physical copy of application for availing Transport and Marketing Assistance (TMA) on specified agriculture products.
Making an amendment in the Handbook of Procedures, DGFT said, “…for the applications filed electronically on or after February 1, 2020 upto September 30, 2020, physical pdf copy of the print out of ANF-7(A)A along with prescribed documents can be filed manually with RA concerned upto October 30, 2020.
The retail inflation has eased to 5.91 per cent in March over the previous month, mainly due to easing food prices, government data showed on Monday.
The retail inflation based on Consumer Price Index (CPI) was 6.58 per cent in February 2020 and 2.86 per cent in March 2019.
The inflation in the food basket was 8.76 per cent in March 2020, lower from 10.81 per cent in the previous month, as per the CPI data released by the National Statistical Office (NSO).
The Reserve Bank of India mainly factors in the retail inflation while deciding its bi-monthly monetary policy.
The Commerce Ministry has taken several measures to address hardships faced by exporters due to COVID-19 pandemic.
"In order to give relief to businesses and affected individuals amidst the stress caused by the novel coronavirus pandemic, the department of commerce has introduced several relaxations and extensions in deadlines etc. with regard to compliances mandated under its schemes and activities," a Commerce Ministry statement said.
The government has said that it would release all Goods and Service Tax (GST) & Customs refunds to provide benefit to around 1 lakh business entities including Micro, Small and Medium Enterprises (MSMEs).
It has been decided to issue all pending GST and Custom refunds which would provide benefit to around 1 lakh business entities, including MSME. Thus, the total refund granted will be approximately Rs. 18,000 crore,'' said an official statement on Wednesday.
The Ministry of Textiles has said that the entities can exercise an option for getting the JIT recommended subsidy released prior to scrutiny of the JIT reports by respective authorities as per delegated powers, subject to submission of Bank Guarantee equivalent to recommended subsidy.
The Ministry of Textiles had proposed easing out the norms under Amended Technology Upgradation Fund Scheme (TUFS) during post lockdown period of Covid-19 outbreak.
The Small Industries Development Bank of India (SIDBI) has announced to provide emergency working capital against confirmed government orders, under which revolving working capital term loans shall be provided of up to Rs 1 crore.f
According to a release, the new loan product, SIDBI Assistance to Facilitate Emergency response against coronavirus (SAFE) plus will be offered collateral free and disbursed within 48 hours.
NITI Aayog, country's think tank, has come forward to help manufacturers and suppliers with smooth transportation of goods.
NITI Aayog has offered to facilitate manufacturers and suppliers if they face any issue on transportation front, according to an industry source. They will facilitate the transportation through the department of post.
Recently, the All India Motor Transport Congress, which represents nearly 90 lakh truck owners, had written to the Ministry of Road Transport and Highways to say that essential services should also be provided to the truckers who could neither reach their place of residence or native place due to the lockdown.
The District Magistrate of Dadar and Nagar Haveli has allowed all the industrial establishments that have been exempted from the lockdown, to continue to run their industry by employing minimum required number of workers.
Most of the micro small and medium enterprises (MSMEs) has engaged in the production/ manufacturing of essential commodities across the country.
In an order, the District Magistrate of D&NH Sandeep Kumar Singh said, “all the industrial establishments that have been exempted from the Lockdown, may continue to run their respective industry by employing minimum required number of workers and during the said Lockdown.”
The Micro Small and Medium Enterprises (MSMEs) in Jammu and Kashmir have urged have urged the Lt Governor, G C Murmu to provide immediate relief to industrial sector of J&K by deferring electricity bills and waiving-off minimum /demand charges for closed as well as working units manufacturing essential commodities and their supply chain due to lockdown.
"We draw kind attention of Lt Governor towards non-working of majority of the units, not covered under essential commodities due to lockdown since March 24, 2020, resulting in a difficult situation for unit-holders to pay electricity bills as their units were closed, non-receipt of payments from suppliers for sale of materials in February and March 2020 and other related financial constraints," Lalit Mahajan, President BBIA said in a statement issued here.
The Himachal Pradesh Chief Minister Jai Ram Thakur has written to the Labour Minister Santosh Kumar Gangwar to direct Employees State Insurance corporation (ESIC) provide financial assistance to workers registered to with ESIC amid lockdown.
In its letter to Gangwar, accessed by KNN India, Thakur asserted that the state may find it difficult to abide by government's order to make payment to their workers, on the due date without any deduction. ''I would like to apprise you that the industrial sector in Himachal Pradesh may find it difficult and even in some cases impossible t comply with the government directions to continue to pay wages for the lockdown period as the overall industrial setup is not that sound and strengthened,'' the letter read.
The Punjab Chief Minister Amarinder Singh today announced a reduction in the fixed charges for electricity consumers and also deferment of the deadline for payment of bills.
He told the power department to provide uninterrupted 24x7 supply to all healthcare institutions.
The PSPCL will have to bear an additional burden of Rs 350 crore due to the various reliefs announced for the consumers, an official spokesperson said, adding that the Chief Minister also lauded the employees for their untiring efforts in maintaining a continuous supply of power in this time of crisis.he
No disconnection would be carried out for non-payment of bills for now, the Chief Minister said.
India will continue its medical supplies to Nepal to fight Covid-19 and ensure smooth cross-border trade while Kathmandu hailed Delhi’s efforts to combat the disease in the region amid Pak efforts to undermine the process launched on March 15.
Prime Minister K P Sharma Oli and the Prime Minister of India Narendra Modi held telephone conversation. The two Prime Ministers discussed about the present situation of fight against COVID-19 and agreed to further intensify the ongoing efforts.
Assam Chief Minister Sarbananda Sonowal has asked the Baksa district administration to take measures to stop movement across the Indo-Bhutan border in the district and to enforce the lockdown completely.
Chief Minister Sonowal directed this to the Deputy Commissioner and Superintendent of Police while visiting the district to assess its preparedness to deal with novel coronavirus outbreak. Sonowal said that in view of the COVID-19 outbreak the district administration should essentially focus on three pronged agenda like protection of health, maintenance of supply chain and complete adherence to lockdown to wage a war against novel coronavirus.
According to FISME factor, amid COVID-19 lockdown 42.9% MSMES think that government has taken adequate initiatives to revive Indian MSMEs while 57.1% don't think so. 
The lockdown has taught us many lessons and also transformed workplace practices like never before. Both the organisation and the employees have enjoyed the flexibility and have focused more on deliverables, while telecommuting.
Will India Inc. retain this flexibility at the workplace? Will it be less rigid on certain aspects and continue to focus just on deliverables?
The nation’s small businesses are struggling, and there’s no clear picture of when the current crisis will be over and things will be back to normal. It’s a tough situation for any company to be in, and even a $2 trillion stimulus package won’t be able to alleviate the worries for many small businesses yet.
Ben Richmond, U.S. country manager for accounting-software platform Xero, shares the three financial steps small-business owners should take to get their companies in the best possible position. Read on for his tips.
We are living in interesting times. With digital channels fueling the growth stories of big and small businesses in India, having a concrete search strategy in place is not only a unique differentiator, but a license to play, and win, in an already saturated market. As per a report published by McKinsey Global Institute in 2019, 85 per cent of businesses in India consider digital as an investment priority. While enterprises stay ahead of the curve with more spending into paid search and display, small businesses are leaning towards SEO to reach out to prospects.
The micro, small and medium enterprises (MSMEs) do not have adequate liquidity to pay wages to their employees for the month of April as they are unable to conduct any business activity during the lockdown, said the apex body for exporters in the country.
The Federation of Indian Export Organisations (FIEO) said the government should immediately announce an incentive package and give permisssion for partial resumption of operations in manufacturing units.
Food is not grown the way it used to be. Vegetables, grains, and fruits are liberally doused with chemicals and fertilizers, and consuming them has only led to an increased rate of cancer, and other deadly diseases across the world. In India too, there has been a rising concern about the quality of food produced. And this has led to a slow but increasing demand for organic food. The organic food market in the country is estimated at Rs 1,500 crore, and is expected to double to Rs 3,000 crore in the next three years. To address this growing concern and need to eat healthy, and help citizens consume healthy food, Linesh Narayan Pillai (46) co-founded Urban Green Fate (UGF) Farms in 2017.
Luck did not seem to favour Amit Kumat when he decided to become an entrepreneur. Despite working in the snacks industry for a decade, he chose to become a chemicals manufacturer.
In less than a year, Amit was in Rs 6 crore debt. He shut the business, repaid his creditors, and contemplated his next move.
