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President's Message
At the outset, let me take this opportunity to wish readers of FISME Factor a very happy and prosperous new year! The New Year brings another joyous occasion for us: FISME enters into its Silver Jubilee year. (Though FISME has its roots in National Alliance of Young Entrepreneurs-NAYE, which was established in 1967, it was restructured and rechristened as FISME in1995). The year is critical for India. From the interaction FISME had with the Prime Minister and the Finance Minister during last one month, it is obvious that the Government will come out with slew of measures to bolster up economy in the short term in the forthcoming budget. However, to bring Indian economy on a sustained growth path requires deep reforms in several spheres including Banking, Power, role of Government in Railways, Aviation and other industrial sectors. The intent of the Government assures that it has appetite for implementing new set of economic reforms. Amendments in MSMED Act are also proposed. FISME is member of the Working group that would recommend changes in the Act. I request readers to send their views how MSMED Act could be strengthened to serve the MSME community more effectively.
"
The meeting of the FISME’s Central Executive Committee was held in New Delhi on 9th Jan 2020. The CEC was chaired by Mr. Animesh Saxena, President. Besides review of activities and programmes, the CEC discussed about FISME’s memorandum submitted to the Hon’ble Prime Minister and Finance Minister. Members were informed that a new Industrial policy is in the making and about formation of Working Group to suggest amendments in the MSMED Act.
Growing your company is every entrepreneur’s goal: make your product or service replicable and available to more customers who want it. Growth requires that you scale — and vice/versa — to enable and support all of your new customers and orders. But scaling requires skill, and a solid plan put in place before you start. I’ve seen many teams fail when they try to scale because they did not have a plan in place before growth happened. If you really want to scale in a sustainable, lucrative way, it’s imperative that you have a strong capacity and capability from the get-go.
India unilaterally cut tariffs between 2001 and 2013, which also happened to be a period of robust economic performance. A highlight of India’s economic performance during this phase was an increase in its export intensity of growth. Since then, export intensity of growth has tapered. This has been followed by a reversion to protectionism over the last couple of years, ostensibly to revive domestic manufacturing and promote Make in India.
India has imposed anti-subsidy duty on copper wire rods from Indonesia, Malaysia, Thailand and Vietnam for a period of five years after concluding a probe that these imports have impacted domestic players.
In a notification, the finance ministry said that it has imposed the anti-subsidy or countervailing duty after considering the final findings of the commerce ministry's investigating arm Directorate General of Trade Remedies (DGTR).
Prime Minister Narendra Modi has invited ideas and suggestions for the Union Budget 2020.
The suggestions can be sent at MyGov. He said, “The Union Budget represents the aspirations of 130 crore Indians and lays out the path towards India’s development. I invite you all to share your ideas and suggestions for this year’s Budget on MyGov.” MyGov said in a tweet that Finance Ministry looks forward to your suggestions for the Union Budget 2020 which will be presented in the Parliament in the upcoming session.
Canara Bank as per the bank stock exchange filing has retained its Repo Rate Linked Lending Rate (RLLR) for Retail Loans (Housing, Auto, Etc.) and Micro, Small and Medium Enterprises (MSME) at 8.05 percent.
Canara Bank also said that its Base Rate will remain at 9.10 percent from January 7th. Starting October 1, banks were required to link their floating rate loans to any of the 4 external benchmarks: 1) RBI's repo rate 2) Government's 3-month treasury bill yield 3)Government's 6-month treasury bill yield 4)any benchmark market interest rate published by Financial Benchmarks India Limited (FBIL).
Micro Small and Medium Enterprises (MSME) association in South India have urged the central government to immediately address the issues concerning MSMEs here.
The Joint Action Committee (JAC) of MSME in south India met in Bengaluru recently and decided to take their issues to the central government.
Nine MSME associations from across South India attended the meeting.
South India MSME JAC, Vice Chairman, APK Reddy, who is also a national president of Federation of Small and Medium Enterprises of India (FSME India), said that the central government can look at some basic measures to prevent small and medium industry units from becoming non-performing assets (NPAs).
In a bid to take digital India and Ease of Doing Business (EODB) to another level, the Department for Promotion of Industry and Internal Trade (DPIIT) has launched paperless licensing process through Petroleum and Explosives Safety Organisation (PESO) for road tankers for transportation of petroleum under the Petroleum Rules, 2002. “This is a significant move towards paperless and green India that will provide simpler mechanism, ease of living and business to the petroleum road tanker owners,” DPIIT said in a release on Friday.
After fourteen years, the Micro Small and Medium Enterprises Development Act 2006 may undergo a major revamp.
According to Office Memo issued by Office of Development Commissioner under Ministry of MSME on 8th Jan 2020, a Working Group has been constituted under chairmanship of Surendra Nath Tripathi, Director, Indian Institute of Public Administration (IIPA). Tripathi- a former officer of Indian Administrative Services, headed Office of DCMSME as Additional Secretary earlier and is conversant with issues confronting MSME.
The Center of Excellence in Advanced Manufacturing Technology at IIT Kharagpur is roping in Micro Small and Medium Enterprises (MSMEs) for collaborative R&D projects and consultancy to develop resources for Industry 4.0.
In a recent initiative, the centre, which is funded by the Department of Heavy Industry of Ministry of Heavy Industries and Public Enterprises, Government of India, has signed a MoU with a Kolkata-based startup Hemraj Infocom to promote industrial consultancy and industrial research internship for students, an IIT KGP statement said on Monday.
E-commerce giant Flipkart has announced the launching two of its largest fulfilment centres in Haryana which will help Micro Small and Medium Enterprises (MSMEs), with the market access in the region.
The company said on Tuesday that like MSMEs, it will also help sellers and artisans in the region along with generating 5,000 local jobs.
Reportedly, the centres spread across 9 lakh square feet in Farrukhnagar, Haryana will promote various products offered by thousands of sellers & MSMEs in Haryana. It will also give them access to a national market.
Goa government has constituted a state-level standing committee on Micro, Small and Medium Enterprises (MSMEs) which will recommend reforms for the sector apart from monitoring all initiatives.
The state-level standing committee will be chaired by Chief Secretary Parimal Rai with secretaries of finance, labour, factories and boilers, transport, law, revenue, agriculture and industries departments making up the members. Goa MSMEs also said that issues concerning Goods and Services Tax (GST) refunds, access to finance, and delayed release of payments by government bodies continue to trouble the sector, which contributes 28.8% to the national GDP.
A high-level Land Allotment Committee meeting has been held in the capital city to discuss technical and financial details of 98 projects and recommended land allotment here for Micro Small and Medium Enterprises (MSMEs).
The meeting was held under the chairmanship of Chief Secretary Asit Tripathy and were also attended by Principal Secretary and Chief Managing Director (CMD) Industrial Development Corporation (IDCO) Sanjay Kumar Singh. Bhubaneswar Master Plan area proposal includes Gothpatana, Infocity, Infovalley, Seafood Park, industrial estates at Khordha, Kholadwar, Jayamangal, Chhatabar, Anlapatna, Bhagbanpurand Macnheswar.
Khadi and Village Industries Commission (KVIC) has inaugurated the first silk processing plant at Surendranagar in Gujarat.
The processing plant would help cut down the cost of production of silk yarn drastically and increase the sale and availability of raw material for Gujarati 'Patola' sarees locally, said Ministry of Micro, Small and Medium Enterprises (MSME)
The plant has been set up by a khadi institution at a cost of Rs 75 lack in which KVIC has contributed Rs 60 lakh.
‘‘The unit has employed 90 local women, 70 of which belong to the Muslim community,'' the ministry said in a statement.
Amazon's CEO Jeff Bezos on Wednesday announced that the company would invest 1 billion dollar in digitising Micro Small and Medium Enterprises (MSMEs) on its platform in the country.
Speaking at the Amazon ''Smbhav'' event here, he said, ''Amazon will invest 1 billion dollar to help digitise Indian MSMEs. 21st century will be Indian century and the biggest alliance between India and the US.'' The company has so far invested 5.5 billion dollar in the country.
Jeff Bezos’ three-day visit to India is marked with protests from sellers on its platform, which have complained about Amazon’s anti-competitive pricing practices.
The government may impose anti-dumping duty on a Chinese medicine used to treat different kind of bacterial infections with a view to guard domestic players from cheap imports. The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) has initiated a probe into an alleged dumping of Ciprofloxacin Hydrochloride from China following a complaint filed by Aarti Drugs Ltd. Aarti Drugs Ltd has filed an application before the directorate for investigation into the imports from the neighbouring country, with which India has a huge trade deficit of over USD 50 billion, for imposing anti-dumping duty.
Do you think that the economic conditions are expected to improve in 2020?
According to FISME factor 50% MSMEs think that the economic conditions are expected to improve in 2020, 16.7% think it will not while 33.3% think otherwise.
Many an employee has complained about boring meetings at the workplace. In fact, meetings are rarely looked forward to, especially if they happen very often. If the team leader is verbose, and in the habit of rambling on and on, it can even push employees to call in sick, simply to avoid meetings.
We negotiate frequently while managing our business, however, not all the negotiations go well. Typically, negotiating parties take their positions, argue, and may agree. However, negotiations, when managed well help in building long-term and trusting business relationships, can influence at the highest level in the organization and enable relationship-based growth.
5 Digital Marketing Tips That Brands Can Use to Drive Sales
The December-January period is one of the busiest times for e-commerce businesses and, with the end of the Christmas holiday campaigns, online brands are now looking to maximize their sales for the New Year festive season. But, with so many brands around, the question remains: How to have the best customer outreach strategies and what tools to employ? Here is a handy guide with five curated tips that advertisers can follow to optimize their digital marketing spending during the festive season.
Solar power association writes to Gadkari against NTPC charging earnest money from MSMEs in tenders
The state owned NTPC Ltd’s solar power tender dated December 3, 2019 which did not exempt the small and medium enterprises from the earnest money deposits has drawn flak from different sectors of the small industry.
How this Jaipur startup is providing business solutions to companies in Tier II cities
After working in the corporate sector for over 11 years, Anirudh Sharma realised how important the cost-budget-growth was for companies in small towns. Spotting a gap in the market, he decided to quit his corporate career to startup in the space.
How Truck and Mortar aims to drive the future of apparel retail with fashion trucks
Move over, food trucks! India’s first fashion truck is set to get on road, courtesy Bengaluru-based Concord Ventures Group. After offering two successful brands – Adamo London and Evah London – under the English Closet umbrella, Ankit Shukla and Roopika Srivastava have now launched Truck and Mortar, which will roll out fashion trucks that could put brick-and-mortar stores in the shade and revolutionise fashion retail in India.
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 December 2019
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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This Newsletter is edited by the FISME Secretariat. We welcome contributions as well as comments and suggestions. Please write to newsletter@fisme.org.in
At the outset, let me take this opportunity to wish readers of FISME Factor a very happy and prosperous new year! The New Year brings another joyous occasion for us: FISME enters into its Silver Jubilee year. (Though FISME has its roots in National Alliance of Young Entrepreneurs-NAYE, which was established in 1967, it was restructured and rechristened as FISME in1995). The year is critical for India. From the interaction FISME had with the Prime Minister and the Finance Minister during last one month, it is obvious that the Government will come out with slew of measures to bolster up economy in the short term in the forthcoming budget. However, to bring Indian economy on a sustained growth path requires deep reforms in several spheres including Banking, Power, role of Government in Railways, Aviation and other industrial sectors. The intent of the Government assures that it has appetite for implementing new set of economic reforms. Amendments in MSMED Act are also proposed. FISME is member of the Working group that would recommend changes in the Act. I request readers to send their views how MSMED Act could be strengthened to serve the MSME community more effectively.
"
The meeting of the FISME’s Central Executive Committee was held in New Delhi on 9th Jan 2020. The CEC was chaired by Mr. Animesh Saxena, President. Besides review of activities and programmes, the CEC discussed about FISME’s memorandum submitted to the Hon’ble Prime Minister and Finance Minister. Members were informed that a new Industrial policy is in the making and about formation of Working Group to suggest amendments in the MSMED Act.
Growing your company is every entrepreneur’s goal: make your product or service replicable and available to more customers who want it. Growth requires that you scale — and vice/versa — to enable and support all of your new customers and orders. But scaling requires skill, and a solid plan put in place before you start. I’ve seen many teams fail when they try to scale because they did not have a plan in place before growth happened. If you really want to scale in a sustainable, lucrative way, it’s imperative that you have a strong capacity and capability from the get-go.
India has imposed anti-subsidy duty on copper wire rods from Indonesia, Malaysia, Thailand and Vietnam for a period of five years after concluding a probe that these imports have impacted domestic players.
In a notification, the finance ministry said that it has imposed the anti-subsidy or countervailing duty after considering the final findings of the commerce ministry's investigating arm Directorate General of Trade Remedies (DGTR).
Prime Minister Narendra Modi has invited ideas and suggestions for the Union Budget 2020.
The suggestions can be sent at MyGov. He said, “The Union Budget represents the aspirations of 130 crore Indians and lays out the path towards India’s development. I invite you all to share your ideas and suggestions for this year’s Budget on MyGov.” MyGov said in a tweet that Finance Ministry looks forward to your suggestions for the Union Budget 2020 which will be presented in the Parliament in the upcoming session.
Canara Bank as per the bank stock exchange filing has retained its Repo Rate Linked Lending Rate (RLLR) for Retail Loans (Housing, Auto, Etc.) and Micro, Small and Medium Enterprises (MSME) at 8.05 percent.
Canara Bank also said that its Base Rate will remain at 9.10 percent from January 7th. Starting October 1, banks were required to link their floating rate loans to any of the 4 external benchmarks: 1) RBI's repo rate 2) Government's 3-month treasury bill yield 3)Government's 6-month treasury bill yield 4)any benchmark market interest rate published by Financial Benchmarks India Limited (FBIL).
Micro Small and Medium Enterprises (MSME) association in South India have urged the central government to immediately address the issues concerning MSMEs here.
The Joint Action Committee (JAC) of MSME in south India met in Bengaluru recently and decided to take their issues to the central government.
Nine MSME associations from across South India attended the meeting.
South India MSME JAC, Vice Chairman, APK Reddy, who is also a national president of Federation of Small and Medium Enterprises of India (FSME India), said that the central government can look at some basic measures to prevent small and medium industry units from becoming non-performing assets (NPAs).
In a bid to take digital India and Ease of Doing Business (EODB) to another level, the Department for Promotion of Industry and Internal Trade (DPIIT) has launched paperless licensing process through Petroleum and Explosives Safety Organisation (PESO) for road tankers for transportation of petroleum under the Petroleum Rules, 2002. “This is a significant move towards paperless and green India that will provide simpler mechanism, ease of living and business to the petroleum road tanker owners,” DPIIT said in a release on Friday.
After fourteen years, the Micro Small and Medium Enterprises Development Act 2006 may undergo a major revamp.
According to Office Memo issued by Office of Development Commissioner under Ministry of MSME on 8th Jan 2020, a Working Group has been constituted under chairmanship of Surendra Nath Tripathi, Director, Indian Institute of Public Administration (IIPA). Tripathi- a former officer of Indian Administrative Services, headed Office of DCMSME as Additional Secretary earlier and is conversant with issues confronting MSME.
The Center of Excellence in Advanced Manufacturing Technology at IIT Kharagpur is roping in Micro Small and Medium Enterprises (MSMEs) for collaborative R&D projects and consultancy to develop resources for Industry 4.0.
In a recent initiative, the centre, which is funded by the Department of Heavy Industry of Ministry of Heavy Industries and Public Enterprises, Government of India, has signed a MoU with a Kolkata-based startup Hemraj Infocom to promote industrial consultancy and industrial research internship for students, an IIT KGP statement said on Monday.
E-commerce giant Flipkart has announced the launching two of its largest fulfilment centres in Haryana which will help Micro Small and Medium Enterprises (MSMEs), with the market access in the region.
The company said on Tuesday that like MSMEs, it will also help sellers and artisans in the region along with generating 5,000 local jobs.
Reportedly, the centres spread across 9 lakh square feet in Farrukhnagar, Haryana will promote various products offered by thousands of sellers & MSMEs in Haryana. It will also give them access to a national market.
Goa government has constituted a state-level standing committee on Micro, Small and Medium Enterprises (MSMEs) which will recommend reforms for the sector apart from monitoring all initiatives.
The state-level standing committee will be chaired by Chief Secretary Parimal Rai with secretaries of finance, labour, factories and boilers, transport, law, revenue, agriculture and industries departments making up the members. Goa MSMEs also said that issues concerning Goods and Services Tax (GST) refunds, access to finance, and delayed release of payments by government bodies continue to trouble the sector, which contributes 28.8% to the national GDP.
A high-level Land Allotment Committee meeting has been held in the capital city to discuss technical and financial details of 98 projects and recommended land allotment here for Micro Small and Medium Enterprises (MSMEs).
The meeting was held under the chairmanship of Chief Secretary Asit Tripathy and were also attended by Principal Secretary and Chief Managing Director (CMD) Industrial Development Corporation (IDCO) Sanjay Kumar Singh. Bhubaneswar Master Plan area proposal includes Gothpatana, Infocity, Infovalley, Seafood Park, industrial estates at Khordha, Kholadwar, Jayamangal, Chhatabar, Anlapatna, Bhagbanpurand Macnheswar.
Khadi and Village Industries Commission (KVIC) has inaugurated the first silk processing plant at Surendranagar in Gujarat.
The processing plant would help cut down the cost of production of silk yarn drastically and increase the sale and availability of raw material for Gujarati 'Patola' sarees locally, said Ministry of Micro, Small and Medium Enterprises (MSME)
The plant has been set up by a khadi institution at a cost of Rs 75 lack in which KVIC has contributed Rs 60 lakh.
‘‘The unit has employed 90 local women, 70 of which belong to the Muslim community,'' the ministry said in a statement.
Amazon's CEO Jeff Bezos on Wednesday announced that the company would invest 1 billion dollar in digitising Micro Small and Medium Enterprises (MSMEs) on its platform in the country.
Speaking at the Amazon ''Smbhav'' event here, he said, ''Amazon will invest 1 billion dollar to help digitise Indian MSMEs. 21st century will be Indian century and the biggest alliance between India and the US.'' The company has so far invested 5.5 billion dollar in the country.
Jeff Bezos’ three-day visit to India is marked with protests from sellers on its platform, which have complained about Amazon’s anti-competitive pricing practices.
The government may impose anti-dumping duty on a Chinese medicine used to treat different kind of bacterial infections with a view to guard domestic players from cheap imports. The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) has initiated a probe into an alleged dumping of Ciprofloxacin Hydrochloride from China following a complaint filed by Aarti Drugs Ltd. Aarti Drugs Ltd has filed an application before the directorate for investigation into the imports from the neighbouring country, with which India has a huge trade deficit of over USD 50 billion, for imposing anti-dumping duty.
According to FISME factor 50% MSMEs think that the economic conditions are expected to improve in 2020, 16.7% think it will not while 33.3% think otherwise. 
Many an employee has complained about boring meetings at the workplace. In fact, meetings are rarely looked forward to, especially if they happen very often. If the team leader is verbose, and in the habit of rambling on and on, it can even push employees to call in sick, simply to avoid meetings.
We negotiate frequently while managing our business, however, not all the negotiations go well. Typically, negotiating parties take their positions, argue, and may agree. However, negotiations, when managed well help in building long-term and trusting business relationships, can influence at the highest level in the organization and enable relationship-based growth.
The December-January period is one of the busiest times for e-commerce businesses and, with the end of the Christmas holiday campaigns, online brands are now looking to maximize their sales for the New Year festive season. But, with so many brands around, the question remains: How to have the best customer outreach strategies and what tools to employ? Here is a handy guide with five curated tips that advertisers can follow to optimize their digital marketing spending during the festive season.
The state owned NTPC Ltd’s solar power tender dated December 3, 2019 which did not exempt the small and medium enterprises from the earnest money deposits has drawn flak from different sectors of the small industry.
After working in the corporate sector for over 11 years, Anirudh Sharma realised how important the cost-budget-growth was for companies in small towns. Spotting a gap in the market, he decided to quit his corporate career to startup in the space.
Move over, food trucks! India’s first fashion truck is set to get on road, courtesy Bengaluru-based Concord Ventures Group. After offering two successful brands – Adamo London and Evah London – under the English Closet umbrella, Ankit Shukla and Roopika Srivastava have now launched Truck and Mortar, which will roll out fashion trucks that could put brick-and-mortar stores in the shade and revolutionise fashion retail in India.
