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President's Message
Commerce Minister has held series of meetings during last two months on the issue of Atmanirbhar Bharat- not the package but as a strategy to develop capacities to produce items that we are currently importing. This also has become a central point during the discussions on new Industrial policy under development. No one disagrees on the need to have such a focus. Problem lies in having an agenda- knowing what should be done and implementing it. FISME also has identified over 600 items currently being imported but have a good chance to manufacture them in India. Going further it requires a lot of resources to identify range of WTO compatible interventions to make it happen. We are in process of identifying a dozen or so products from this list to begin with and study the status of the manufacturing capabilities in a few select clusters. Then we intend to zero in on interventions with the help of stake-holder consultations and present to Govt for specific steps. Let’s hope through this we are able to crack the logjam to make the dream of Atmanirbhar Bharat realized.
"
During peacetime, CEOs can focus on expanding the market and reinforcing the company’s strengths. During wartime, they are fending off an existential threat.
Much of the last decade, we’ve enjoyed a period of peacetime fueled by economic growth and prosperity. But the onset of the COVID-19 pandemic quickly moved business-as-usual into wartime mode. Related: 3 Traditionally Offline Industries That Are Going Online
I recently sat down with a Silicon Valley leader who became known as the “turnaround guy” for portfolio companies during his tenures at Battery Ventures during the Dotcom bust and at Shasta Ventures during the Great Recession.
While the govt has denied that the policy is isolationist and says it will make India part of the global supply chain, import substitution seems to be a part of the package There is a huge difference between the 1991 reforms and the Atmanirbhar package announced by the government recently. While the former were designed to make India a globalised economy, the latter seeks to make the country self-reliant. The government has denied that the policy is isolationist and says it will ...
The Khadi and Village Industries Commission (KVIC) has received a prestigious purchase order from Indian Red Cross Society (IRCS) to supply 1.80 lakh face masks.
Reportedly, KVIC Chairman Vinai Kumar Saxena welcomed the order from the IRCS and said the massive demand of Khadi face masks is a major step in the direction of “Aatmanirbhar Bharat”. “This order will help our Khadi artisans to produce more yarn and fabric and will further add to their income in these difficult times,” Saxena added.
The IRCS masks will be made of 100 per cent double-twisted handcrafted cotton fabric in brown colour with red piping.
The government on Tuesday permitted export of 2 million medical goggles every month as the country is producing these protective gears in excess to their domestic demand.
Confirming the same, Union Minister of Railways and Commerce & Industry, Piyush Goyal on Tuesday took to the tweeted and tweeted, “Following PM @NarendraModi ji’s mantra of Aatmanirbhar Bharat [Self-reliant India], in a momentous decision to promote Make in India & Industrial growth, Govt. permits export of 4 crore 2/3 Ply Surgical Masks & 20 lakh Medical Goggles every month, along with restriction-free export of Face Shields.”
The Finance Ministry has said that five proposals involving an amount of Rs 3,090 crore had been sanctioned under the Rs 30,000 crore Special Liquidity Scheme for NBFCs and HFCs while 35 more applications seeking financing up to Rs 13,775 crore are under process in this scheme.
"As on July 23, five proposals involving an amount of Rs 3,090 crore have already been sanctioned. Further, 35 more applications have been received seeking financing up to Rs 13,776 crore, which are under process," the finance ministry said in a statement on Friday.
The government is working on offering incentives to various sectors to boost manufacturing in the country, said Tarun Bajaj, Secretary, Department of Economic Affairs (DEA) Ministry of Finance.
Addressing a Special Session at the 17th Annual Capital Market Conference ‘CAPAM 2020’ organized by FICCI, Mr Bajaj said, “the government is working on financial packages for various sectors to deal with the fallout of the coronavirus pandemic that has impacted the economy.” ''The country can expect to see a V-shaped recovery post coronavirus crisis,'' he added.
The Confederation of All India Traders (CAIT) has strongly criticised the proposal of South Delhi Municipal Corporation (SDMC) to levy professional fees on self-employed persons and double property tax on rented commercial shops & offices and a new tax on transfer of properties.
The SDMC proposal has triggered a huge anger among traders of not only South Delhi but across Delhi. The traders’ body has termed the proposals as "barbaric" particularly at a time when Delhi traders are in an unimaginable financial crisis due to COVID lockdown.
CAIT has demanded immediate withdrawal of such proposal and said that any act of bringing such anti-trader proposals will be bitterly opposed by traders.
Small Industries Development Bank of India (SIDBI) in association with TransUnion CIBIL has launched MSMESaksham - a comprehensive financial education and knowledge platform for Micro, Small and Medium Enterprises (MSMEs).
MSMESaksham aims to guide MSMEs across their credit lifecycle, from availing credit to start and grow their businesses, to managing credit lines to sustain and build structural strength of the business, as well as ensuring timely closures and renewals of credit facilities.
Muthoot Fincorp, has launched a portal named 'Restartindia', a free mentoring platform to help the Micro, Small and Medium Enterprises (MSME) sector to restart businesses across the country.
The portal was inaugurated by MSME Minister Nitin Gadkari on Thursday.
The platform designed is to address the needs of the MSME sector, particularly the nano and micro enterprises. It will offer solutions to the problems faced by a large number of women entrepreneurs making a livelihood by setting up very small businesses, following the pandemic crisis.
Union Minister of Micro, Small and Medium Enterprises (MSME) has asked MSMEs to use ‘Champion portal’ to resolve problems.
While speaking at the 'Small Business Virtual Summit' themed RuknaManaHai in association with CISCO organised by Moneycontrol, the Minister said, ''With the launch of our MSME portal ‘Champion’, we seek to resolve the problems that Indian businesses are facing.’’ The virtual summit was aimed at helping MSME owners build business resilience and chart out a roadmap towards growth through digitalisation.
Loans worth Rs 1,317 crore were sanctioned to 82,816 Micro, Small and Medium Enterprises (MSMEs) in Assam amid COVID-19 pandemic.
While interacting with General Managers(GMs) of District Industries and Commerce Centres (DICC)s and department officials through a webinar, Industries and Commerce Minister Chandra Mohan Patowary on Thursday discussed in details about the implementation of various programmes and schemes for development of industries and commerce in the State.
Micro, Small and Medium Enterprises (MSMEs) have appealed to the Lt Governor, G C Murmu to provide financial relief to the industrial sector which is facing a lot of hardships in Jammu and Kashmir (J&K).
Federation of Industries Jammu (FoIJ) on Monday held a meeting where the members discussed the plight of the micro and small-scale sector of the J&K and UT suffering since August 5, 2019 after the abrogation of Article 370 and COVID-19 situation since March 24, 2020.
The Madhya Pradesh (MP) government is mulling to reduce the power payment load by 30 per cent to 40 per cent for Micro, Small and Medium Enterprises (MSMEs) said Minister of State for MSME, OP Saklecha.
While interacting with the delegation of Laghu Udyog Bharti (LUB) at this office in Bhopal on Tuesday, Saklecha said,'' to achieve the objective of ‘Aatma Nirbhar MP’ it is necessary to support MSME units of the State. For this, it is necessary to reduce the cost of production. Therefore, the State government is mulling to reduce the power payment load by 30 per cent to 40 per cent from them.''
The Karnataka's government new Industrial Policy 2020-25 provides concessions to Micro, Small and Medium Enterprises (MSMEs) sector.
While addressing the media after the Cabinet approved the Industrial Policy 2020-25, on Thursday, Minister for Large and Medium Scale Industries and Public Enterprises Jagadish Shettar said, ''the policy intends to promote Tier II and Tier III cities.'' ''Besides making changes in law to ensure ease of business, the new policy also provides a number of concessions, particularly for MSME sectors and the units coming up in Tier II and Tier III cities,'' he added.
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The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has been bringing out the employment related statistics in the formal sector covering the period September 2017 onwards
“ Apart from values and ethics which I have tried to live by, the legacy I would like to leave behind is a very simple one – that I have always stood up for what I consider to be the right thing, and I have tried to be as fair and equitable as I could be.
”
– - Ratan Tata - An Indian Industrialist and a former chairman of Tata Group
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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Commerce Minister has held series of meetings during last two months on the issue of Atmanirbhar Bharat- not the package but as a strategy to develop capacities to produce items that we are currently importing. This also has become a central point during the discussions on new Industrial policy under development. No one disagrees on the need to have such a focus. Problem lies in having an agenda- knowing what should be done and implementing it. FISME also has identified over 600 items currently being imported but have a good chance to manufacture them in India. Going further it requires a lot of resources to identify range of WTO compatible interventions to make it happen. We are in process of identifying a dozen or so products from this list to begin with and study the status of the manufacturing capabilities in a few select clusters. Then we intend to zero in on interventions with the help of stake-holder consultations and present to Govt for specific steps. Let’s hope through this we are able to crack the logjam to make the dream of Atmanirbhar Bharat realized.
"
During peacetime, CEOs can focus on expanding the market and reinforcing the company’s strengths. During wartime, they are fending off an existential threat.
Much of the last decade, we’ve enjoyed a period of peacetime fueled by economic growth and prosperity. But the onset of the COVID-19 pandemic quickly moved business-as-usual into wartime mode. Related: 3 Traditionally Offline Industries That Are Going Online
I recently sat down with a Silicon Valley leader who became known as the “turnaround guy” for portfolio companies during his tenures at Battery Ventures during the Dotcom bust and at Shasta Ventures during the Great Recession.
The Khadi and Village Industries Commission (KVIC) has received a prestigious purchase order from Indian Red Cross Society (IRCS) to supply 1.80 lakh face masks.
Reportedly, KVIC Chairman Vinai Kumar Saxena welcomed the order from the IRCS and said the massive demand of Khadi face masks is a major step in the direction of “Aatmanirbhar Bharat”. “This order will help our Khadi artisans to produce more yarn and fabric and will further add to their income in these difficult times,” Saxena added.
The IRCS masks will be made of 100 per cent double-twisted handcrafted cotton fabric in brown colour with red piping.
The government on Tuesday permitted export of 2 million medical goggles every month as the country is producing these protective gears in excess to their domestic demand.
Confirming the same, Union Minister of Railways and Commerce & Industry, Piyush Goyal on Tuesday took to the tweeted and tweeted, “Following PM @NarendraModi ji’s mantra of Aatmanirbhar Bharat [Self-reliant India], in a momentous decision to promote Make in India & Industrial growth, Govt. permits export of 4 crore 2/3 Ply Surgical Masks & 20 lakh Medical Goggles every month, along with restriction-free export of Face Shields.”
The Finance Ministry has said that five proposals involving an amount of Rs 3,090 crore had been sanctioned under the Rs 30,000 crore Special Liquidity Scheme for NBFCs and HFCs while 35 more applications seeking financing up to Rs 13,775 crore are under process in this scheme.
"As on July 23, five proposals involving an amount of Rs 3,090 crore have already been sanctioned. Further, 35 more applications have been received seeking financing up to Rs 13,776 crore, which are under process," the finance ministry said in a statement on Friday.
The government is working on offering incentives to various sectors to boost manufacturing in the country, said Tarun Bajaj, Secretary, Department of Economic Affairs (DEA) Ministry of Finance.
Addressing a Special Session at the 17th Annual Capital Market Conference ‘CAPAM 2020’ organized by FICCI, Mr Bajaj said, “the government is working on financial packages for various sectors to deal with the fallout of the coronavirus pandemic that has impacted the economy.” ''The country can expect to see a V-shaped recovery post coronavirus crisis,'' he added.
The Confederation of All India Traders (CAIT) has strongly criticised the proposal of South Delhi Municipal Corporation (SDMC) to levy professional fees on self-employed persons and double property tax on rented commercial shops & offices and a new tax on transfer of properties.
The SDMC proposal has triggered a huge anger among traders of not only South Delhi but across Delhi. The traders’ body has termed the proposals as "barbaric" particularly at a time when Delhi traders are in an unimaginable financial crisis due to COVID lockdown.
CAIT has demanded immediate withdrawal of such proposal and said that any act of bringing such anti-trader proposals will be bitterly opposed by traders.
Small Industries Development Bank of India (SIDBI) in association with TransUnion CIBIL has launched MSMESaksham - a comprehensive financial education and knowledge platform for Micro, Small and Medium Enterprises (MSMEs).
MSMESaksham aims to guide MSMEs across their credit lifecycle, from availing credit to start and grow their businesses, to managing credit lines to sustain and build structural strength of the business, as well as ensuring timely closures and renewals of credit facilities.
Muthoot Fincorp, has launched a portal named 'Restartindia', a free mentoring platform to help the Micro, Small and Medium Enterprises (MSME) sector to restart businesses across the country.
The portal was inaugurated by MSME Minister Nitin Gadkari on Thursday.
The platform designed is to address the needs of the MSME sector, particularly the nano and micro enterprises. It will offer solutions to the problems faced by a large number of women entrepreneurs making a livelihood by setting up very small businesses, following the pandemic crisis.
Union Minister of Micro, Small and Medium Enterprises (MSME) has asked MSMEs to use ‘Champion portal’ to resolve problems.
While speaking at the 'Small Business Virtual Summit' themed RuknaManaHai in association with CISCO organised by Moneycontrol, the Minister said, ''With the launch of our MSME portal ‘Champion’, we seek to resolve the problems that Indian businesses are facing.’’ The virtual summit was aimed at helping MSME owners build business resilience and chart out a roadmap towards growth through digitalisation.
Loans worth Rs 1,317 crore were sanctioned to 82,816 Micro, Small and Medium Enterprises (MSMEs) in Assam amid COVID-19 pandemic.
While interacting with General Managers(GMs) of District Industries and Commerce Centres (DICC)s and department officials through a webinar, Industries and Commerce Minister Chandra Mohan Patowary on Thursday discussed in details about the implementation of various programmes and schemes for development of industries and commerce in the State.
Micro, Small and Medium Enterprises (MSMEs) have appealed to the Lt Governor, G C Murmu to provide financial relief to the industrial sector which is facing a lot of hardships in Jammu and Kashmir (J&K).
Federation of Industries Jammu (FoIJ) on Monday held a meeting where the members discussed the plight of the micro and small-scale sector of the J&K and UT suffering since August 5, 2019 after the abrogation of Article 370 and COVID-19 situation since March 24, 2020.
The Madhya Pradesh (MP) government is mulling to reduce the power payment load by 30 per cent to 40 per cent for Micro, Small and Medium Enterprises (MSMEs) said Minister of State for MSME, OP Saklecha.
While interacting with the delegation of Laghu Udyog Bharti (LUB) at this office in Bhopal on Tuesday, Saklecha said,'' to achieve the objective of ‘Aatma Nirbhar MP’ it is necessary to support MSME units of the State. For this, it is necessary to reduce the cost of production. Therefore, the State government is mulling to reduce the power payment load by 30 per cent to 40 per cent from them.''
The Karnataka's government new Industrial Policy 2020-25 provides concessions to Micro, Small and Medium Enterprises (MSMEs) sector.
While addressing the media after the Cabinet approved the Industrial Policy 2020-25, on Thursday, Minister for Large and Medium Scale Industries and Public Enterprises Jagadish Shettar said, ''the policy intends to promote Tier II and Tier III cities.'' ''Besides making changes in law to ensure ease of business, the new policy also provides a number of concessions, particularly for MSME sectors and the units coming up in Tier II and Tier III cities,'' he added.
According to FISME factor 100 percent MSMEs think that 'Atmanirbhar Bharat Abhiyan' of making India a self-reliant is significant. 
The ongoing pandemic has pushed many businesses into a state of turmoil. Several countries had to initiate lockdown procedures to stop the spread of the virus and it disrupted the entire business ecosystem. In this period, many organizations also came tumbling down affecting the employment status of millions of employees.
You are a successful business owner, and you are so good at what you do. Your clients love you, you love running your business and serving your clients and you’re always striving to improve on your skills. Your business couldn’t be better ... or could it?
Probably the biggest modern marketing challenge is here upon us. The challenge of running our business and marketing as usual in the face of global lock-down due to the threat of COVID-19.
Micro, Small and Medium Enterprises (MSMEs) in Ludhiana have shown their strong resentment over the levied peak-time surcharge of Rs2 per unit (kVAh) for power consumed between 6 pm to 10 pm from June 1, 2020, onwards.
As India unlocks after the COVID-19 lockdown, masks, disinfection, and sanitation are the new normal outdoors. But what happens indoors, in safe spaces like homes, offices, and schools? Research by Harvard, CDC
Urvish Dave was always fascinated by solar power. He graduated in electronics engineering in 2009, but kept himself abreast with the latest developments in the world of solar energy. Ten years later, in October 2019, Urvish, along with Khrushendu Choksi and Raaj Patel, launched Ahmedabad-based solar energy startup URON Energy.
“ Apart from values and ethics which I have tried to live by, the legacy I would like to leave behind is a very simple one – that I have always stood up for what I consider to be the right thing, and I have tried to be as fair and equitable as I could be.
”
