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President's Message
A long standing concern among economists against India has been lack of reforms in agriculture sector. After 30 years, the present government took the plunge and passed three legislation ending monopoly of APMCs and freeing farmers from selling their produce anywhere in India. The reforms carried out through these Acts pave way for contract farming, remove restrictions on movement and storage of agri produce facilitating investment in pre and post harvest infrastructure. The reforms have the potential to increase income of farmers, reduce waste and align the demand and supply. It is sad to see how a section of farmers from Punjab and Haryana are misled by the opposition parties against the Acts. The blockade of Delhi may spread to other highways as Trucker’s Union also threatened to join which might further disrupt the nascent economic recovery. While appealing to the opposition parties to consider agri reforms as a national priority and help educate farmers, may we request the government to engage the farmers and opposition in diffusing the impending crisis.
"
It’s been almost a year since COVID-19 hit the globe and affected various industries and businesses as we know it. Most entrepreneurial enterprises—high-grounds of courage, potential, and creativity—had their backs against the wall, pushed to make harsh decisions and strategic overhauls. As we look forward to emerging out of the pandemic to reclaim the lost ground, entrepreneurs Erick Alvarez (CEO and founder of Big Clout Media) and Sean Smutny (Co-Founder of Truth Enterprises) share critical learnings from the current crisis and few actionable insights to grow amidst adversity.
Farmers have protested against the recently enacted farm laws by converging on delhi’s highways connected to the neighbouring states. The agitation is primarily led by Punjab farmers, although some other groups have also joined. I believe every citizen have right to protest peacefully. But blocking highways reveals their intension is to create chaos and disruption, which may go out of hand. Here, let me also say that I feel there is a gross communication failure on the part of the central government to explain to farmers what these laws are...
The Department for Promotion of Industry and Internal Trade (DPIIT) has set up a steering committee to formulate, implement and provide policy oversight on the Open Network for Digital Commerce (ONDC), which is essentially an e-commerce business platform being developed with the government’s backing.
According to DPIIT order accessed by KNN India, ‘The steering committee, will initially build consensus and, once the project gets underway, ensure that it continues to meet the set vision, goals, and objectives.''
Indian economy has shown stronger than expected pickup in recovery, said Reserve Bank of India Governor Shaktikanta Das on Thursday.
Speaking at the annual day event of Foreign Exchange Dealers' Association of India (FEDAI), Das said that even as the growth outlook has improved, downside risks to growth continue due to recent surge in infections in advanced economies and parts of India. “After witnessing a sharp contraction in the economy by 23.9 per cent in Q1 and a multi-speed normalisation of activity in Q2, the Indian economy has exhibited stronger than expected pick-up in momentum of recovery," Das added.
The total procurement & transactions from MSEs has gone up phenomenally in October 2020 compared to May, 2020 from about Rs. 2300 crore to about Rs. 5000 crore, according to the data released by government.
Ministry of Micro, Small & Medium Enterprises (MSME) has released the figures of Procurement and Payment to Micro & Small Enterprises (MSEs), which are reflected on the Samadhan Portal, by the Central Public Sector Enterprises (CPSEs).
New Labour Codes have expanded the scope of engaging contract labour said industry experts during a virtual session organised by the All India Organisation of Employers (AIOE) with Federation of Indian Chambers of Commerce & Industry (FICCI).
The session themed 'Position of the Contract Labour under Occupational Safety, Health and Working Conditions Code 2020' was organised on Friday to deliberate on the new Labour Codes particularly the contract labour dynamics.
Right strategy, governance and technology need to be adopted to mitigate the problems of Micro, Small and Medium Enterprises (MSMEs) said, SBI Managing Director CS Setty.
He said this during a virtual conference-cum-exhibition with the theme ‘Connect with World of Opportunities’ on Friday organised by the Confederation of Indian Industry (CII), Andhra Pradesh. ''SBI is planning to set up an e-commerce portal Bharat Craft to market the products manufactured by MSMEs with the facility of financing options to meet their business requirements,'' he added.
The government has issued guidelines for implementation of Emergency Credit Line Guarantee Scheme (ECLGS) 2.0 scheme where it has extended the scheme to 26 sectors including the health sector identified by the Kamath Committee.
According to an official statement on Thursday the scheme shall come into force from the date of issue of these guidelines by the National Credit Guarantee Trustee Company Limited (NCGTC). The scheme was announced by the government earlier this month as part of the Rs 2.65 lakh crore Atmanirbhar Bharat 3.0 package.
Employees' Provident Fund Organisation (EPFO) has extended the time limit up to February 28th, 2021 for submission of Life Certificate (Jeevan Pramaan Patra-JPP).
''In view of the ongoing COVID-19 pandemic and the vulnerability of elderly population to CoronaVirus, Employees' Provident Fund Organisation (EPFO) has extended the time limit up to February 28th, 2021 for submission of Life Certificate (Jeevan Pramaan Patra-JPP) in respect of the Pensioners drawing pension under EPS 1995 and whose Life certificate is due in any month till February 28, 2021,'' an official statement said on Saturday.
In a bid to upgrade Micro, Small and Medium Enterprises (MSMEs) in technology, Chamber of Industrial & Commercial Undertakings (CICU) has planned to collaborate with India Institute of Technology (IIT) Ropar.
''IIT Ropar will showcase research projects in MECH AUTO EXPO which will be held in Ludhiana from February 19th to 22nd, 2021. It will help both the industry and academia to come closer and add value to each other,'' an official statement said on Tuesday.
Minister of Micro, Small and Medium Enterprises (MSME) Om Prakash Saklecha has said that five new clusters for furniture, toys, confectionery, food processing and pharmaceuticals will come up in Indore for which land is being identified.
Talking to industry representatives on Saturday Saklecha said, ''to beat China as a manufacturing hub, local industries need to change their marketing pattern.'' “The work plan for developing these five clusters is ready and land is being identified. Industries should select land suiting their requirement and invest in these clusters to attain self-sufficiency in manufacturing,” he added.
After a several representation from Micro, Small and Medium Enterprises (MSMEs), the state government has finally granted exemption to later under Atmanirbhar Bharat Scheme from the payment of stamp duty while registering agreements relating to Deposit of Title Deeds executed for securing loans from banks and financial institutions till March 31, 2021.
''The issue was studied in detail by both the Commercial Taxes and Registration and Micro, Small and Medium Enterprises Department following which the former issued orders on the directions of the Chief Minister,'' said a release.
Miffed over the lethargic and unprofessional attitude of Sub Divisional Police Officer (SDPO), Bari Brahmana, the Micro, Small and Medium Enterprises (MSMEs) here have made an appeal to Mukesh Singh, Inspector General of Police (IGP) Jammu to re-open sealed units.
In a meeting on Wednesday, Bari Brahmana Industries Association (BBIA) accused SDPO, Bari Brahmana of disobeying court order by not allowing the sealed factory to be opened. ''Despite the court's direction to open the sealed factory in Bari Brahmana, the SDPO did not allow the factory to be opened,'' the association said in a statement.
To reach collaborative partnership in defence sector, Department of Defence Production, Ministry of Defence and Society of Indian Defence Manufacturers (SIDM) organised a webinar between India and Nigeria on Wednesday.
The theme of webinar was “Indian Defence Industry Global Outreach for Collaborative Partnership: Webinar and Expo”. This webinar is the part of the series of webinars which are being organized with friendly foreign countries in order to boost defence exports and achieve defence export target of $5 billion in the next five years.
To boost bilateral trade and investment, India and Myanmar held 7th Joint Trade Committee Meeting on Tuesday.
The 7th Joint Trade Committee Meeting between India and Myanmar was held through virtual mode on 24th November 2020, according to an official statement. The Meeting was co-chaired by Dr. Than Myint, Union Minister for Ministry of Commerce, Myanmar and Piyush Goyal, Commerce and Industry Minister of India.
Is India's decision to stay away from RCEP- the largest FTA in ASEAN area, right?
According to FISME factor 50% MSMEs think that India's decision to stay away from RCEP- the largest FTA in ASEAN area is right while 50% think it is not.
How to lead a high-performing team in the age of remote work
Nurturing leadership, and continuous awareness of others' working styles, whether it is remote or in person, are just some of the contributing factors towards a high performance team.
8 Tips for business owners for a fight against COVID-19
Never ever has the globe been in a hibernation mode before 2020. This pandemic is translating into an economic situation which nobody would have anticipated. However, great disturbances bring great disruptions and great disruptions bring great opportunities and new ways of attaining goals.
How to Create a High-Performance Content Strategy for Startups
As we know, Content Marketing is no longer a new and simple concept to carry out as when it was born as a strategy. A few years ago its implementation represented a competitive advantage for companies and although it has been a practice in the business world for a long time, including startups , it does not mean that it is correctly executed in the case of having one, since you can take the risk of staying far behind your competitors.
As the sharp rise in steel prices are affecting Micro, Small and Medium Enterprises (MSMEs), the Karnataka Small Scale Industries Association (KASSIA) has urged the government to subsidise the steel prices or impose price control.
The price of steel has risen by 35-40 per cent in the last 3 months, along with zinc and aluminium, which puts the MSMEs in great jeopardy when they are barely able to recover from the impact of the pandemic.
Why two friends decided to start a milk revolution in non-metro towns with dairy startup Puresh Daily
Manish Piyush, an IIM graduate, who had worked in 14 countries was visiting his hometown Ranchi when he realised the problem: the lack of focus on non-metro towns, especially in his state, Jharkhand. “People want to solve urban problems, but not many are solving some basic problems in India,” Manish says. Manish joined hands with his childhood friend, Aditya Kumar, to start milk subscription app Puresh Daily Foods in 2019. The Ranchi-based startup provides organic cow milk and chemical-free dairy products.
How Bengaluru-based Welectric is encouraging last-mile delivery businesses to adopt EVs
Vikas Jain’s love for riding electric two-wheelers made him question the reason behind low uptake of electric vehicles. He realised that not only riding electric bikes was a hassle-free experience, but also helped him commute to the office at a lower cost of Rs 10 per charge. Vikas realised that several problems including lack of dealership, maintenance infrastructure, lack of financing options, lack of resale options or absence of a used E2W market were some of the major reasons behind lower adoption rates.
National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product (GDP) for the second quarter (July-September) Q2 of 2020-21.
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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A long standing concern among economists against India has been lack of reforms in agriculture sector. After 30 years, the present government took the plunge and passed three legislation ending monopoly of APMCs and freeing farmers from selling their produce anywhere in India. The reforms carried out through these Acts pave way for contract farming, remove restrictions on movement and storage of agri produce facilitating investment in pre and post harvest infrastructure. The reforms have the potential to increase income of farmers, reduce waste and align the demand and supply. It is sad to see how a section of farmers from Punjab and Haryana are misled by the opposition parties against the Acts. The blockade of Delhi may spread to other highways as Trucker’s Union also threatened to join which might further disrupt the nascent economic recovery. While appealing to the opposition parties to consider agri reforms as a national priority and help educate farmers, may we request the government to engage the farmers and opposition in diffusing the impending crisis.
"
It’s been almost a year since COVID-19 hit the globe and affected various industries and businesses as we know it. Most entrepreneurial enterprises—high-grounds of courage, potential, and creativity—had their backs against the wall, pushed to make harsh decisions and strategic overhauls. As we look forward to emerging out of the pandemic to reclaim the lost ground, entrepreneurs Erick Alvarez (CEO and founder of Big Clout Media) and Sean Smutny (Co-Founder of Truth Enterprises) share critical learnings from the current crisis and few actionable insights to grow amidst adversity.
The Department for Promotion of Industry and Internal Trade (DPIIT) has set up a steering committee to formulate, implement and provide policy oversight on the Open Network for Digital Commerce (ONDC), which is essentially an e-commerce business platform being developed with the government’s backing.
According to DPIIT order accessed by KNN India, ‘The steering committee, will initially build consensus and, once the project gets underway, ensure that it continues to meet the set vision, goals, and objectives.''
Indian economy has shown stronger than expected pickup in recovery, said Reserve Bank of India Governor Shaktikanta Das on Thursday.
Speaking at the annual day event of Foreign Exchange Dealers' Association of India (FEDAI), Das said that even as the growth outlook has improved, downside risks to growth continue due to recent surge in infections in advanced economies and parts of India. “After witnessing a sharp contraction in the economy by 23.9 per cent in Q1 and a multi-speed normalisation of activity in Q2, the Indian economy has exhibited stronger than expected pick-up in momentum of recovery," Das added.
The total procurement & transactions from MSEs has gone up phenomenally in October 2020 compared to May, 2020 from about Rs. 2300 crore to about Rs. 5000 crore, according to the data released by government.
Ministry of Micro, Small & Medium Enterprises (MSME) has released the figures of Procurement and Payment to Micro & Small Enterprises (MSEs), which are reflected on the Samadhan Portal, by the Central Public Sector Enterprises (CPSEs).
New Labour Codes have expanded the scope of engaging contract labour said industry experts during a virtual session organised by the All India Organisation of Employers (AIOE) with Federation of Indian Chambers of Commerce & Industry (FICCI).
The session themed 'Position of the Contract Labour under Occupational Safety, Health and Working Conditions Code 2020' was organised on Friday to deliberate on the new Labour Codes particularly the contract labour dynamics.
Right strategy, governance and technology need to be adopted to mitigate the problems of Micro, Small and Medium Enterprises (MSMEs) said, SBI Managing Director CS Setty.
He said this during a virtual conference-cum-exhibition with the theme ‘Connect with World of Opportunities’ on Friday organised by the Confederation of Indian Industry (CII), Andhra Pradesh. ''SBI is planning to set up an e-commerce portal Bharat Craft to market the products manufactured by MSMEs with the facility of financing options to meet their business requirements,'' he added.
The government has issued guidelines for implementation of Emergency Credit Line Guarantee Scheme (ECLGS) 2.0 scheme where it has extended the scheme to 26 sectors including the health sector identified by the Kamath Committee.
According to an official statement on Thursday the scheme shall come into force from the date of issue of these guidelines by the National Credit Guarantee Trustee Company Limited (NCGTC). The scheme was announced by the government earlier this month as part of the Rs 2.65 lakh crore Atmanirbhar Bharat 3.0 package.
Employees' Provident Fund Organisation (EPFO) has extended the time limit up to February 28th, 2021 for submission of Life Certificate (Jeevan Pramaan Patra-JPP).
''In view of the ongoing COVID-19 pandemic and the vulnerability of elderly population to CoronaVirus, Employees' Provident Fund Organisation (EPFO) has extended the time limit up to February 28th, 2021 for submission of Life Certificate (Jeevan Pramaan Patra-JPP) in respect of the Pensioners drawing pension under EPS 1995 and whose Life certificate is due in any month till February 28, 2021,'' an official statement said on Saturday.
In a bid to upgrade Micro, Small and Medium Enterprises (MSMEs) in technology, Chamber of Industrial & Commercial Undertakings (CICU) has planned to collaborate with India Institute of Technology (IIT) Ropar.
''IIT Ropar will showcase research projects in MECH AUTO EXPO which will be held in Ludhiana from February 19th to 22nd, 2021. It will help both the industry and academia to come closer and add value to each other,'' an official statement said on Tuesday.
Minister of Micro, Small and Medium Enterprises (MSME) Om Prakash Saklecha has said that five new clusters for furniture, toys, confectionery, food processing and pharmaceuticals will come up in Indore for which land is being identified.
Talking to industry representatives on Saturday Saklecha said, ''to beat China as a manufacturing hub, local industries need to change their marketing pattern.'' “The work plan for developing these five clusters is ready and land is being identified. Industries should select land suiting their requirement and invest in these clusters to attain self-sufficiency in manufacturing,” he added.
After a several representation from Micro, Small and Medium Enterprises (MSMEs), the state government has finally granted exemption to later under Atmanirbhar Bharat Scheme from the payment of stamp duty while registering agreements relating to Deposit of Title Deeds executed for securing loans from banks and financial institutions till March 31, 2021.
''The issue was studied in detail by both the Commercial Taxes and Registration and Micro, Small and Medium Enterprises Department following which the former issued orders on the directions of the Chief Minister,'' said a release.
Miffed over the lethargic and unprofessional attitude of Sub Divisional Police Officer (SDPO), Bari Brahmana, the Micro, Small and Medium Enterprises (MSMEs) here have made an appeal to Mukesh Singh, Inspector General of Police (IGP) Jammu to re-open sealed units.
In a meeting on Wednesday, Bari Brahmana Industries Association (BBIA) accused SDPO, Bari Brahmana of disobeying court order by not allowing the sealed factory to be opened. ''Despite the court's direction to open the sealed factory in Bari Brahmana, the SDPO did not allow the factory to be opened,'' the association said in a statement.
To reach collaborative partnership in defence sector, Department of Defence Production, Ministry of Defence and Society of Indian Defence Manufacturers (SIDM) organised a webinar between India and Nigeria on Wednesday.
The theme of webinar was “Indian Defence Industry Global Outreach for Collaborative Partnership: Webinar and Expo”. This webinar is the part of the series of webinars which are being organized with friendly foreign countries in order to boost defence exports and achieve defence export target of $5 billion in the next five years.
To boost bilateral trade and investment, India and Myanmar held 7th Joint Trade Committee Meeting on Tuesday.
The 7th Joint Trade Committee Meeting between India and Myanmar was held through virtual mode on 24th November 2020, according to an official statement. The Meeting was co-chaired by Dr. Than Myint, Union Minister for Ministry of Commerce, Myanmar and Piyush Goyal, Commerce and Industry Minister of India.
According to FISME factor 50% MSMEs think that India's decision to stay away from RCEP- the largest FTA in ASEAN area is right while 50% think it is not. 
Nurturing leadership, and continuous awareness of others' working styles, whether it is remote or in person, are just some of the contributing factors towards a high performance team.
As we know, Content Marketing is no longer a new and simple concept to carry out as when it was born as a strategy. A few years ago its implementation represented a competitive advantage for companies and although it has been a practice in the business world for a long time, including startups , it does not mean that it is correctly executed in the case of having one, since you can take the risk of staying far behind your competitors.
As the sharp rise in steel prices are affecting Micro, Small and Medium Enterprises (MSMEs), the Karnataka Small Scale Industries Association (KASSIA) has urged the government to subsidise the steel prices or impose price control.
The price of steel has risen by 35-40 per cent in the last 3 months, along with zinc and aluminium, which puts the MSMEs in great jeopardy when they are barely able to recover from the impact of the pandemic.
Manish Piyush, an IIM graduate, who had worked in 14 countries was visiting his hometown Ranchi when he realised the problem: the lack of focus on non-metro towns, especially in his state, Jharkhand. “People want to solve urban problems, but not many are solving some basic problems in India,” Manish says. Manish joined hands with his childhood friend, Aditya Kumar, to start milk subscription app Puresh Daily Foods in 2019. The Ranchi-based startup provides organic cow milk and chemical-free dairy products.
Vikas Jain’s love for riding electric two-wheelers made him question the reason behind low uptake of electric vehicles. He realised that not only riding electric bikes was a hassle-free experience, but also helped him commute to the office at a lower cost of Rs 10 per charge. Vikas realised that several problems including lack of dealership, maintenance infrastructure, lack of financing options, lack of resale options or absence of a used E2W market were some of the major reasons behind lower adoption rates.
“ Dignity does not consist in possessing honors, but in the consciousness that we deserve them.
”
