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President's Message
Mr Animesh SaxenaThe worst fears have come true: post festivities the Covid cases are rising in record numbers. Delhi NCR is a hot spot of the spike. While people have obviously contributed to it by not following protocol and disregarding masking and social distancing, both weather and the pollution caused by stubble burning in farms have exacerbated the situation. Its economic impact may soon follow in the form of disruption in supply chains. The region stares at another wave of lockdowns leading to exodus of migratory workers giving jitters to MSMEs bound by contracts and commitments for uninterrupted supplies. Governments must ensure compliance of Covid protocol, ramp-up testing and strengthen hospital facilities on war footing. Economy has barely started moving up. Another shock may delay recovers by months. "
Animesh Saxena, President, FISME
Vol VIII, Issue 215: Nov 15, 2020
Business Banter: Lessons from Entrepreneurs
7 Tips for Emerging Creative Entrepreneurs
Macro Metre
Union Bank sanctions loans to 102 MSME units on Foundation Day
USD 20 billion global market for handloom and textile products ready to be trapped by India
Domestic Digest
Atmanirbhar Bharat 3.0 announced, ECLGS for MSMEs extended till 31st March 2021 Knowledge and News Network (KNN)
Government sets up Inter-Ministerial Committee to strengthen the Capital Goods Sector
RBI imposes Rs 50 lakh penalty on Central Bank of India for non-compliance
State Scan
MSMEs urge Karnataka CM to set up industrial estates in peripheral areas of Bangalore Knowledge and News Network (KNN)
Amul to invest Rs 2,500 cr in UP: GCMMF
AP to launch IoT pilot projects in MSME units in all districts
World Watch
India-France to boost bilateral trade cooperation Knowledge and News Network (KNN)
India-Italy ink 15 agreements to boost bilateral corporation Knowledge and News Network (KNN)
Knowledge Store
Long-Term Financing: The Impact of Loan Restructuring On MSME Books
...And A Lot More
Activities
Business Banter: Lessons from Entrepreneurs

7 Tips for Emerging Creative Entrepreneurs

In many ways, it’s easier than ever to become a successful creator. Ideas can potentially spread virally thanks to social media and online platforms. As an entrepreneurial artist, you can create an amazing life for yourself. However, it may require you to take your focus off of superstardom and shift it toward monetizing what makes you happy. Having realistic expectations and clear, attainable goals, will go a long way in helping pave the path towards your future.
Writing on the Wall

Atmanirbhar 3.0 last push before Budget? Key theme: spur demand rather than cash in hand

Atmanirbhar Bharat 3.0 may well be Finance Minister Nirmala Sitharaman’s last Covid-19 relief package ahead of Budget 2021-22, but there is a discernible pattern to the four major announcements made over the last seven months. It reinforces the ‘fiscal conservatism’ ideology of the government under Prime Minister Narendra Modi — rather than large cash transfers, the growth philosophy centres around creating an ecosystem that aids domestic demand, incentivises companies to generate jobs and boost production, and simultaneously extends benefits to those in severe distress, be it firms or individuals.

Media Monitor

Macro Metre

Union Bank sanctions loans to 102 MSME units on Foundation Day

Union Bank of India (UBI) has sanctioned a loan to Micro, Small and Medium Enterprises (MSME) units on the 102nd Foundation Day of the bank. Reportedly, "MSME Loan Distribution Ceremony" was organised on the occasion of its 102nd foundation day of the bank where a total of 102 customers belonging to the MSME sector received a loan approval letter. A loan of 68 crore, a loan of 7.58 crore among 100 customers in the retail loan category while a loan of 12.68 crore among a total of 253 customers in the agricultural loan category.

USD 20 billion global market for handloom and textile products ready to be trapped by India: Study

India has untapped export potential in 13 handlooms and other textile products to the extent of 83 per cent of the world export market, revealed a study by the MVIRDC World Trade Centre Mumbai. According to study, the said 13 products are toilet linen, kitchen linen, carpets, bed linen, floor cloths and other interior furnishing articles, gloves, shawls, scarves and terry towels. While the cumulative world market (as denoted by world imports or exports) for these 13 products is USD 20.18 billion, India’s exports is hardly USD 3.4 billion or 17 per cent of the world market.

GDP of India to touch USD 5 trillion by FY 2026-27: PHD Chamber

The economy is going to attain its fastest growth trajectory from the next financial year 2021-22 onwards Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry said in a press statement issued on Saturday. He appreciated the dynamic reforms undertaken by the Government during the last 7 months to mitigate the daunting impact of pandemic COVID-19 on trade and industry. According to the recent growth estimates by the International Monetary Fund (IMF), India is projected to become the fastest growing economy among the top 10 major economies in the world economic system from 2021 to 2025.

Domestic Digest

Atmanirbhar Bharat 3.0 announced, ECLGS for MSMEs extended till 31st March 2021

The Union Finance Minister Nirmala Sitharaman has announced the much awaited Atmanirbhar Bharat 3.0 package to boost economy today. The Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs has been extended till March 31, 2021. The scheme provides for 20% of outstanding loan amount collateral-free fully guaranteed loan by the government. The MSMEs including the business enterprises, individual loans for business purposes, MUDRA borrowers are eligible for this scheme. The Rs 2.05 lakh crore have already been sanctioned and Rs. 1.4 lac crore disbursed to 61 lakh borrowers under this scheme as of November 12.

Government sets up Inter-Ministerial Committee to strengthen the Capital Goods Sector

To help the Capital Goods Sector in contributing more actively in the national goal of achieving a USD 5 trillion economy and a USD 1 trillion manufacturing sector, the government has set up a 22-member inter-ministerial committee in strengthening the Capital Goods(CG) Sector through interventions. Informing about the same, Minister for Heavy Industries and Public Enterprises, Prakash Javadekar expressed happiness and said in a tweet message that the committee will work out ways and means to make the capital goods sector globally competitive and to become the manufacturing hub for the world.

RBI imposes Rs 50 lakh penalty on Central Bank of India for non-compliance

The Reserve Bank (RBI) has imposed a penalty of Rs 50 lakh on state-run Central Bank of India (CBI) for non-compliance with its directions on disbursal of some housing loans. "Reserve Bank of India (RBI) has, by an order dated November 10, 2020, imposed a monetary penalty of Rs 50 lakh" on the bank for non-compliance with certain provisions contained in the circular on ''Housing Sector- Innovative Housing Loan Products - Upfront disbursal of housing loans'' dated September 3, 2013,'' the apex banking body said in a statement on Wednesday.

MSME start-ups design ‘no-touch’ medical equipment with DST help

Department of Science and Technology (DST) has supported several start-ups who are designing their medical equipment in a manner that it can keep doctors safe and cater to unique emergency requirements of the COVID 19 crisis. Startups are showing the way with stethoscopes that doctors can use without touching the patient, oxygen concentrator that can help the hospitals generate their in-house oxygen and portable and app-controlled IoT (Internet of Things) based ventilator system.
State Scan

Odisha    

Odisha minister exhorts MSMEs to adopt new Tech for bio-medical waste management

Odisha Micro, Small and Medium Enterprises (MSME) Minister Dibya Shankar Mishra asked industries to adopt new technologies in bio-medical waste management. While speaking at the “2nd National e-Conference on “Industrial solid waste management'' organised by Indian Chamber of Commerce (ICC) in association with the Odisha State Pollution Control Board (OSPCB), on Tuesday, the Minister said, “It must be a responsibility of all the industries to take care of the mother earth by proper treatment of solid waste generated.”

Karnataka    

MSMEs urge Karnataka CM to set up industrial estates in peripheral areas of Bangalore

Micro, Small and Medium Enterprises (MSMEs) in the state on Friday urged the Karnataka Chief Minister B S Yediyurappa to set up industrial estates in the peripheral areas of Bangalore Urban. While meeting the Chief Minister, the office bearers of Karnataka Small Scale Industries Association (KASSIA) led by K B Arasappa, President, apprised him of some of the pressing issues concerning MSMEs which need immediate government attention.

Uttar Pradesh    

Amul to invest Rs 2,500 cr in UP: GCMMF

Amul, the flagship brand of Gujarat Cooperative Milk Marketing Federation (GCMMF) is likely to invest Rs 2,500 crore in Uttar Pradesh (UP) over the next few years. While speaking at ‘UP-US Services e-Summit; Handholding of UP and US: A win-win Paradigm’, organized by the Indo-American Chamber of Commerce, North India Council, GCMMF, managing director Dr RS Sodhi, on Monday said, “Amul is planning to invest Rs 2,500 crore in UP. The organized milk sector can create 6 lakh jobs in the coming years if production capacity can be increased from 2 million litres to 10 million litres per day and productivity can be increased through better breeding facilities.''

Andhra Pradesh    

AP to launch IoT pilot projects in MSME units in all districts

The state government will launch the Internet of Things (IoT) pilot projects in the Micro, Small and Medium Enterprises (MSMEs) in all the districts for studying energy efficiency measures. Reportedly, after the first pilot project in an MSME unit in East Godavari, the Bureau of Energy Efficiency (BEE) has agreed for more such projects and sanctioned funds for them. Now, the AP State Energy Conservation Mission (SECM) will take up the project in five MSME units in each district with the support of the Department of Industries.
World Watch

France    

India-France to boost bilateral trade cooperation

To boost bilateral economic and technical cooperation between India and France, the Ministry of commerce and industry (MCI) is to host the 18th Session of India-France Joint Committee on 27th November, 2020. The committee would be co-chaired by Hon'ble Minister of State for Commerce & Industry. The committee will address the major economic challenges and review the status of commercial and financial exchanges between India and France. Ministry had also sought feedback from Indian businesses also in this regard.
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Italy    

India-Italy ink 15 agreements to boost bilateral corporations

Prime Minister Narendra Modi and Prime Minister of Italy Prof. Giuseppe Conte signed 15 MoUs/agreements in a virtual summit held on 6th November, 2020. An official statement said “A Virtual Bilateral Summit between Prime Minister Narendra Modi and Prime Minister of Italy Prof. Giuseppe Conte was held on 6th November, 2020.” 15 MoUs/Agreements in various sectors such as energy, fisheries, ship building, design etc. were signed coinciding with the Summit, it stated. Prime Minister Modi appreciated the rapid growth in India-Italy relationship in recent past. Prime Minister Prof. Conte extended invitation to Prime Minister Modi to visit Italy as soon as conditions permit.
Read More    Back to Top
FISME’s official Twitter handle
@fisme
Knowledge and News Network (KNN)
KNN India’s official Twitter handle
@knnindia
Anil Bhardwaj, Secretary General
@abhardwaj_fisme
Your Views

Do you think that the government should step in with a calibrated fiscal package to minimise the long-term economic damage?

According to the FISME factor 50% MSMEs think that the government should step in with a calibrated fiscal package to minimise the long-term economic damage while 50% can’t say.
Knowledge Store

HR Heuristics

Evolved HR practices for the future ready organisation

In 2019, workplace developments focused majorly on improving productivity and employee experience. This year, organisations worldwide and in India will continue to advance the business needs of driving greater human effectiveness, poised for an HR (human resource) transformation. A significant shift will be to prepare operations around a multi-generational workforce. Most organisations will initiate, if not make remarkable progress on, this journey of deploying work models to challenge hierarchies.

Finance Fundamentals

Long-Term Financing: The Impact of Loan Restructuring On MSME Books

A change in the repayment period, repayable amount, number of instalments or rate of interest, or additional loans is categorized as loan restructuring which is applicable to lending institutions. Due to stress among the borrowers on account of COVID-19, the Reserve Bank of India (RBI) announced a one-time restructuring scheme as an integral part of resolution plan and framework.

Marketing Mantras

Here's How to Improve Your Business's Content Marketing

Content marketing is the only type of marketing that doesn’t cost anything. What's more? It’s as profitable a marketing strategy as paid search advertising or paid social marketing. Below are some pointers to help you decide whether to invest your resources in content marketing and guide you through building a successful content marketing campaign that’ll get results.

Policy Polemic

Punjab MSMEs call for PM's intervention to resume freight services

Miffed over the war between railway authorities and farmers’ unions over movement of trains in the state, anguished Micro, Small and Medium Enterprises (MSMEs) associations have sought Prime Minister Narendra Modi’s intervention to end the deadlock.

SME Special

How healthtech startup SigTuple Technologies is leveraging the power of AI in healthcare

Based out of Bengaluru, SigTuple Technologies combines AI, robotics, and data science to build smart healthcare screening solutions. Perseverance and persistence are the two words that best describes the spirit of Tathagato Rai Dastidar, Co-founder and CEO of SigTuple Technologies. An alumnus of IIT Kharagpur, he lost his father almost two decades ago to misdiagnosis of acute myeloid leukaemia. This led him to quit his cushiony job and take the entrepreneurial road. Despite not having a background in medical sciences, Tathagato was confident that healthcare had a lot of data, which was not being put to good use.

Success Story

EV startup Calamus aims to create the next generation of personal mobility with e-bikess

Launched by two Pune engineering graduates, EV startup Calamus has launched an e-bike that comes with GPS tracking, multiple anti-theft features, and integrated support. Nilesh R Bothra and Huzaifa Hararwala, roommates while at Sinhgad College of Engineering, were always keen on the idea of electric vehicles. Nilesh, a production engineer, considers the automotive world to be his Mecca while Huzaifa is a computer engineer with expertise in computer networking.

Stockpile

National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has released the quick estimates of index of industrial production and use-based index for the month of September, 2020 (base 2011-12=100)

Quotable Quotes

“ Smart people learn from everything and everyone, average people from their experiences, stupid people already have all the answers. ”
– - Socrates - Greek philosopher
 
Country Chronicles
 
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:
Reader Reactions

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Editorial Team:
Hon. Editor: Anil Bhardwaj
Asstt. Editor: Kalpana Sharma
Types setting & websdesigning: Sanjay Sachan  
Video & Photography:  Subhan Khan

 

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