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President's Message
The developments of following weeks with regards to China are deeply disturbing. The MSME community of India stands shoulder to shoulder with Government in securing and preserving the security and sovereignty of the country. Government is doing whatever is necessary both at the border and in other dimensions including that of trade. In the meantime, as a knee jerk reaction, there are many voices being raised in India for banning all Chinese imports. FISME is of opinion that we might need to exercise caution. India is deeply integrated in global supply chains underpinned by China, East and South East Asia. A large number of export products use raw materials coming from these sources and any disruption will have detrimental impact on our exports also. Of course no price is more to save our nation but let’s not fire all our salvos in one go. Let’s be measured but resolute in our response to the Chinese actions. Secondly, let the Government and Industry sit down with cool heads to develop strategy to develop manufacturing base to replace Chinese imports. It is not about having a wish to do so but to develop capabilities (technology) and capacities (scale) with right policies, motivation and incentives.
"
Start-ups are all about passion, dreams, and focus. In the bigger scheme of things, being weather resilient to the change in times is key to success. The toughest part is to continuously remind yourself of how it's a long game and not a fly by night scene. But what does that really mean in 2020, a year that is difficult for start-ups, small and medium businesses that do not have large cash flows to take them through large periods of business volatility.
The government has moved smartly to block 59 apps owned or backed by the Chinese – including popular ones such as TikTok with more than 120 million active Indian users. It’s not just a measure of retaliation for Chinese intrusions across the LAC and killing of Indian soldiers – it’s also essential for security reasons. Clandestine data pilferage is a serious concern with Chinese platforms; China has little regard for intellectual property or privacy standards. Given that Chinese companies necessarily have to work ...
The government on Monday allowed export of personal protection equipment (PPE) medical coveralls with a cap of 50 lakh per month as the country strives to achieve self-reliance while battling the COVID-19 crisis.
"A monthly quota of 50 lakh PPE medical coveralls for COVID-19 units has been fixed for issuance of export licences to the eligible applicants as per the criteria to be separately issued in a trade notice," Directorate General of Foreign Trade (DGFT) said in a notice.
Trade Promotion Council of India (TPCI) hailed the PM Formalization of Micro Food Processing Enterprises’ (PM FME) which has created a conducive ecosystem of 360-degree unparalleled support for the industry.
Reacting over the launch of ‘PM Formalization of Micro Food Processing Enterprises’ (PM FME) the new scheme of Ministry of Food Processing, Chairman TPCI, Mohit Singla said, “Food processing the industry is upbeat with the unparalleled 360-degree support and industry is ready to leverage the benefits of the multiple schemes of the ministry to its best potential.”
The Reserve Bank of India (RBI) has asked lending institutions to assign zero per cent risk weight on the credit facilities extended under the Emergency Credit Line Guarantee Scheme to Micro, Small and Medium Enterprises (MSME).
"As credit facilities extended under the scheme guaranteed by NCGTC are backed by an unconditional and irrevocable guarantee provided by Government of India, it has been decided that Member Lending Institutions shall assign zero percent risk weight on the credit facilities extended under this scheme to the extent of guarantee coverage," the RBI said in a notification.
Union Minister of Micro, Small and Medium Enterprises (MSME) Nitin Gadkari has launched the Credit Guarantee Scheme for Sub-ordinate Debt (CGSSD) which is also called “Distressed Assets Fund–Sub-ordinate Debt for MSMEs”.
As per the Scheme, subordinate debt scheme to provide Rs 20,000 crore guarantee cover to two lakh MSMEs who can take debt from the banks to further invest in their stressed MSMEs as equity.
The Ministry of Micro, Small & Medium Enterprises (MoMSME) has issued guidelines on ‘Distressed Asset Fund – Subordinated Debt for Stressed MSMEs’ – Communication.
The guidelines have been approved by the Department of Financial Services, Department of Expenditure and Reserve Bank of India.The approved budgetary outlay for the scheme is Rs 4,000 crore.
The Scheme is named as ‘Distressed Assets Fund -Subordinate Debt for Stressed MSMEs’ and the credit product for which guarantee would be provided under the Scheme shall be named as ‘Credit Guarantee Scheme for Subordinate Debt (CGSSD)’.
Minister of State for Micro, Small and Medium Enterprises (MSME) Pratap Chandra Sarangi launched an MSME Forum for Indian entrepreneurs on World MSME Day.
On April 6, 2017, the United Nations General Assembly declared June 27 as Micro, Small and Medium-sized Enterprises Day. By declaring so, the UN General Assembly recognized the importance of Micro, Small and Medium-sized Enterprises to achieve sustainable development goals (SDGs) and promote innovation, creativity and sustainable work for all.
The Government e-Marketplace (GeM) has now made it mandatory for sellers to enter the Country of Origin while registering all new products on GeM portal.
Further, sellers, who had already uploaded their products before the introduction of this new feature on GeM, are being reminded regularly to update the Country of Origin, with a warning that their products shall be removed from GeM if they fail to update the same. GeM has taken this significant step to promote ‘Make in India’ and ‘Aatmanirbhar Bharat’, the Ministry of Commerce & Industry has said.
In a bid to resolve the problems of Micro, Small and Medium Enterprises (MSMEs) such as recovery of dues, the MSME Department has launched Champion State Control Room, said an official.
Addressing a webinar, on Wednesday, conducted by Vidarbha Industries Association Lady Entrepreneurs Wing (LIA LEW), P M Parlewar, Director, MSME – DI, Nagpur said, ''the Champion State Control Room will resolve problems of MSMEs such as Finance, Marketing, Raw Materials, Labor, Regulatory Permissions, etc.,'' “If MSMEs facing problems regarding payment recovery from the government or from big corporates then that firm can contact the state control room for assistance. Also, this control room can help the small businesses to get registered on Government e-Market Place (GeM),” he added.
Chief Minister of Andhra Pradesh YS Jagan Mohan Reddy on Monday released Rs 512.35 crore to Micro, Small and Medium Enterprises (MSMEs) as the second tranche of the Rs 1,168 crore 'Restart package' to handhold the sector.
During a video conference with the district collectors while releasing the second instalment of the Restart package to MSME sector, the Chief Minister said that there is every need for the state to handhold the MSME sector which has 97,428 units of which 24,252 are micro units and they are providing employment to about 10 lakh people.
In a bid to boost the economy, Karnataka's new industrial policy would have special focus on Micro, Small, and Medium Enterprises (MSMEs), said Chief Minister BS Yediyurappa.
Yediyurappa said this on Saturday, while speaking at the virtual launch of a report titled ‘Improving Economic Dynamism and Accelerating MSME Growth’ by Global Alliance for Mass Entrepreneurship (GAME), which works as an industry body for MSMEs.
In a bid to ease the approval process for the setting up of new Micro, Small and Medium Enterprises (MSMEs), the Punjab government has approved the Punjab Right to Business Rules, 2020.
The Punjab Right to Business Rules, 2020, have been drafted under the provisions of Punjab Right to Business Act, 2020, which was notified on February 6, 2020, after approval by the State Legislative Assembly on January 17, 2020. The Punjab cabinet approved the Punjab Right to Business Rules, 2020, paving the way for setting up of MSME units on fast track across the state, an official statement said here on Monday.
Micro, Small and Medium Enterprises (MSME) has welcomed the Uttar Pradesh government's decision to waive off power fixed charge for the month of July.
The industry body had put up the demand before the Chief Minister Yogi Adtiyanath during a meeting via video conferencing. ''IIA is happy to note that the Chief Minister and Energy Minister have decided to waive off one month fixed/demand charge from the industries of the state by considering the demand of the IIA, this will certainly give some financial relief to the industries,'' said IIA on Thursday.
The Directorate General of Foreign Trade (DGFT) has clarified on Issuance of Preferential Certificate of Origin (COO) for India’s exports to Vietnam under the ASEAN-India Free Trade Agreement (FTA). The agencies like EIA, MPEDA, and Textile Committee will now issue the COO online and provide on request the printed copy of the certificate along with the stamp and wet-ink signature of the issuing officer to the exporter.
Various representatives had raised the issue regarding difficulties in obtaining preferential access in Thailand and Vietnam on the basis of digitally signed electronic COO because of the acceptance of manual applications.
Do you think that Atmanirbhar Bharat a is good initiative to boost the economy amidst the ongoing Covid – 19 pandemic?
According to FISME factor 100 percent MSMEs think that Atmanirbhar Bharat is a good initiative to boost the economy amidst the ongoing Covid -19 pandemic.
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The COVID-19 pandemic has brought many new challenges to our professional and personal lives. Employees around the world are in a crisis, as businesses are suddenly distant. Since the majority of the global workforce is not used to working from home, this sudden change has led to many problems.
Impact Of COVID-19 On Startup Funding: How To Raise Capital During a Crisis?
The COVID-19 pandemic will have a far-reaching and long-lasting impact on the global economy. Even though lockdown restricts have now been eased in several countries, financial markets are likely to take a long time to recover from the coronavirus-triggered crisis.
How many promotional emails do you read every day? If you're like most people, it’s probably only a few if any, plucked out from the 50 you receive just within the early morning hours. This is the reality many brands face with email marketing: the challenge of standing out among the many emails their subscribers are inundated with daily. As a brand owner or marketer, the challenge of creating engaging emails that consistently perform well may seem impossible.
Apparel exporters urge Centre to clear imports from China
The Indian Apparel Industry, which saw respective decline of 91% and 66% exports in April and May 2020, have sought the Government’s support in expediting the clearance of import consignments from China saying the undue delay is impacting their operations and might result in further financial losses.
This woman entrepreneur is on a mission to help schools become best educational spaces
As an independent education consultant, Vibhuti had worked with several schools like Shri Ram Global, St. Xavier’s Blessings, Little Wings, and Regis Kids World during her initial years in her career. From her years of professional experience, she understood that a majority of schools depend on unorganised and conventional styles of operations that lacked the efficiency of modern processes and technology.
This woman entrepreneur started her handicrafts export business from her garage with just Rs 27,000
Surbhi Agarwal was working 22 hours a day in the administration department of her father’s speciality hospital till 2019 in Jodhpur, and could not take the sight of blood anymore. However, her inclination towards art and upliftment of underprivileged women led her to withdraw from the healthcare sector.
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
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 developments of following weeks with regards to China are deeply disturbing. The MSME community of India stands shoulder to shoulder with Government in securing and preserving the security and sovereignty of the country. Government is doing whatever is necessary both at the border and in other dimensions including that of trade. In the meantime, as a knee jerk reaction, there are many voices being raised in India for banning all Chinese imports. FISME is of opinion that we might need to exercise caution. India is deeply integrated in global supply chains underpinned by China, East and South East Asia. A large number of export products use raw materials coming from these sources and any disruption will have detrimental impact on our exports also. Of course no price is more to save our nation but let’s not fire all our salvos in one go. Let’s be measured but resolute in our response to the Chinese actions. Secondly, let the Government and Industry sit down with cool heads to develop strategy to develop manufacturing base to replace Chinese imports. It is not about having a wish to do so but to develop capabilities (technology) and capacities (scale) with right policies, motivation and incentives.
"
Start-ups are all about passion, dreams, and focus. In the bigger scheme of things, being weather resilient to the change in times is key to success. The toughest part is to continuously remind yourself of how it's a long game and not a fly by night scene. But what does that really mean in 2020, a year that is difficult for start-ups, small and medium businesses that do not have large cash flows to take them through large periods of business volatility.
The government on Monday allowed export of personal protection equipment (PPE) medical coveralls with a cap of 50 lakh per month as the country strives to achieve self-reliance while battling the COVID-19 crisis.
"A monthly quota of 50 lakh PPE medical coveralls for COVID-19 units has been fixed for issuance of export licences to the eligible applicants as per the criteria to be separately issued in a trade notice," Directorate General of Foreign Trade (DGFT) said in a notice.
Trade Promotion Council of India (TPCI) hailed the PM Formalization of Micro Food Processing Enterprises’ (PM FME) which has created a conducive ecosystem of 360-degree unparalleled support for the industry.
Reacting over the launch of ‘PM Formalization of Micro Food Processing Enterprises’ (PM FME) the new scheme of Ministry of Food Processing, Chairman TPCI, Mohit Singla said, “Food processing the industry is upbeat with the unparalleled 360-degree support and industry is ready to leverage the benefits of the multiple schemes of the ministry to its best potential.”
The Reserve Bank of India (RBI) has asked lending institutions to assign zero per cent risk weight on the credit facilities extended under the Emergency Credit Line Guarantee Scheme to Micro, Small and Medium Enterprises (MSME).
"As credit facilities extended under the scheme guaranteed by NCGTC are backed by an unconditional and irrevocable guarantee provided by Government of India, it has been decided that Member Lending Institutions shall assign zero percent risk weight on the credit facilities extended under this scheme to the extent of guarantee coverage," the RBI said in a notification.
Union Minister of Micro, Small and Medium Enterprises (MSME) Nitin Gadkari has launched the Credit Guarantee Scheme for Sub-ordinate Debt (CGSSD) which is also called “Distressed Assets Fund–Sub-ordinate Debt for MSMEs”.
As per the Scheme, subordinate debt scheme to provide Rs 20,000 crore guarantee cover to two lakh MSMEs who can take debt from the banks to further invest in their stressed MSMEs as equity.
The Ministry of Micro, Small & Medium Enterprises (MoMSME) has issued guidelines on ‘Distressed Asset Fund – Subordinated Debt for Stressed MSMEs’ – Communication.
The guidelines have been approved by the Department of Financial Services, Department of Expenditure and Reserve Bank of India.The approved budgetary outlay for the scheme is Rs 4,000 crore.
The Scheme is named as ‘Distressed Assets Fund -Subordinate Debt for Stressed MSMEs’ and the credit product for which guarantee would be provided under the Scheme shall be named as ‘Credit Guarantee Scheme for Subordinate Debt (CGSSD)’.
Minister of State for Micro, Small and Medium Enterprises (MSME) Pratap Chandra Sarangi launched an MSME Forum for Indian entrepreneurs on World MSME Day.
On April 6, 2017, the United Nations General Assembly declared June 27 as Micro, Small and Medium-sized Enterprises Day. By declaring so, the UN General Assembly recognized the importance of Micro, Small and Medium-sized Enterprises to achieve sustainable development goals (SDGs) and promote innovation, creativity and sustainable work for all.
The Government e-Marketplace (GeM) has now made it mandatory for sellers to enter the Country of Origin while registering all new products on GeM portal.
Further, sellers, who had already uploaded their products before the introduction of this new feature on GeM, are being reminded regularly to update the Country of Origin, with a warning that their products shall be removed from GeM if they fail to update the same. GeM has taken this significant step to promote ‘Make in India’ and ‘Aatmanirbhar Bharat’, the Ministry of Commerce & Industry has said.
In a bid to resolve the problems of Micro, Small and Medium Enterprises (MSMEs) such as recovery of dues, the MSME Department has launched Champion State Control Room, said an official.
Addressing a webinar, on Wednesday, conducted by Vidarbha Industries Association Lady Entrepreneurs Wing (LIA LEW), P M Parlewar, Director, MSME – DI, Nagpur said, ''the Champion State Control Room will resolve problems of MSMEs such as Finance, Marketing, Raw Materials, Labor, Regulatory Permissions, etc.,'' “If MSMEs facing problems regarding payment recovery from the government or from big corporates then that firm can contact the state control room for assistance. Also, this control room can help the small businesses to get registered on Government e-Market Place (GeM),” he added.
Chief Minister of Andhra Pradesh YS Jagan Mohan Reddy on Monday released Rs 512.35 crore to Micro, Small and Medium Enterprises (MSMEs) as the second tranche of the Rs 1,168 crore 'Restart package' to handhold the sector.
During a video conference with the district collectors while releasing the second instalment of the Restart package to MSME sector, the Chief Minister said that there is every need for the state to handhold the MSME sector which has 97,428 units of which 24,252 are micro units and they are providing employment to about 10 lakh people.
In a bid to boost the economy, Karnataka's new industrial policy would have special focus on Micro, Small, and Medium Enterprises (MSMEs), said Chief Minister BS Yediyurappa.
Yediyurappa said this on Saturday, while speaking at the virtual launch of a report titled ‘Improving Economic Dynamism and Accelerating MSME Growth’ by Global Alliance for Mass Entrepreneurship (GAME), which works as an industry body for MSMEs.
In a bid to ease the approval process for the setting up of new Micro, Small and Medium Enterprises (MSMEs), the Punjab government has approved the Punjab Right to Business Rules, 2020.
The Punjab Right to Business Rules, 2020, have been drafted under the provisions of Punjab Right to Business Act, 2020, which was notified on February 6, 2020, after approval by the State Legislative Assembly on January 17, 2020. The Punjab cabinet approved the Punjab Right to Business Rules, 2020, paving the way for setting up of MSME units on fast track across the state, an official statement said here on Monday.
Micro, Small and Medium Enterprises (MSME) has welcomed the Uttar Pradesh government's decision to waive off power fixed charge for the month of July.
The industry body had put up the demand before the Chief Minister Yogi Adtiyanath during a meeting via video conferencing. ''IIA is happy to note that the Chief Minister and Energy Minister have decided to waive off one month fixed/demand charge from the industries of the state by considering the demand of the IIA, this will certainly give some financial relief to the industries,'' said IIA on Thursday.
The Directorate General of Foreign Trade (DGFT) has clarified on Issuance of Preferential Certificate of Origin (COO) for India’s exports to Vietnam under the ASEAN-India Free Trade Agreement (FTA). The agencies like EIA, MPEDA, and Textile Committee will now issue the COO online and provide on request the printed copy of the certificate along with the stamp and wet-ink signature of the issuing officer to the exporter.
Various representatives had raised the issue regarding difficulties in obtaining preferential access in Thailand and Vietnam on the basis of digitally signed electronic COO because of the acceptance of manual applications.
According to FISME factor 100 percent MSMEs think that Atmanirbhar Bharat is a good initiative to boost the economy amidst the ongoing Covid -19 pandemic. 
The COVID-19 pandemic has brought many new challenges to our professional and personal lives. Employees around the world are in a crisis, as businesses are suddenly distant. Since the majority of the global workforce is not used to working from home, this sudden change has led to many problems.
The COVID-19 pandemic will have a far-reaching and long-lasting impact on the global economy. Even though lockdown restricts have now been eased in several countries, financial markets are likely to take a long time to recover from the coronavirus-triggered crisis.
How many promotional emails do you read every day? If you're like most people, it’s probably only a few if any, plucked out from the 50 you receive just within the early morning hours. This is the reality many brands face with email marketing: the challenge of standing out among the many emails their subscribers are inundated with daily. As a brand owner or marketer, the challenge of creating engaging emails that consistently perform well may seem impossible.
The Indian Apparel Industry, which saw respective decline of 91% and 66% exports in April and May 2020, have sought the Government’s support in expediting the clearance of import consignments from China saying the undue delay is impacting their operations and might result in further financial losses.
As an independent education consultant, Vibhuti had worked with several schools like Shri Ram Global, St. Xavier’s Blessings, Little Wings, and Regis Kids World during her initial years in her career. From her years of professional experience, she understood that a majority of schools depend on unorganised and conventional styles of operations that lacked the efficiency of modern processes and technology.
Surbhi Agarwal was working 22 hours a day in the administration department of her father’s speciality hospital till 2019 in Jodhpur, and could not take the sight of blood anymore. However, her inclination towards art and upliftment of underprivileged women led her to withdraw from the healthcare sector.
“ Be passionate and bold. Always keep learning. You stop doing useful things if you don’t learn.
”
