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  The FISME Factor  


President's Message
Mr Animesh SaxenaTo discuss ‘Unlocking of Economy & Strengthening MSME sector’, FISME was recently invited to make a presentation before Empowered Group (III) chaired by CEO NITI Aayog. FISME sought interventions in areas in few specific areas such as Public procurement, Banking & Finance, Policy package for Medium enterprises and Making Informal sector formal. I also explained our recent initiative under the aegis of Atmanirbhar Bharat with support of SIDBI. My colleagues from four sectoral associations also drew attention on their sector specific issues viz. from Leather, Apparel, Electrical & Agri-processed food . One major demand I put forward was suspension of Basel norms on banking for three years. The straight jacketing of these norms like SMA rating, bank loan ratings (BLR) etc. are to prove even greater hurdles for Covid affected MSMEs in need of finance. While asking for putting an end to the policy biases against Medium enterprises, we proposed measures to reclassification of informal sector enterprises being operated from home below a threshold. I also took this opportunity to elaborate on FISME’s new initiative: a separate division for Medium Enterprises to get the policy biases against Medium addressed. Forum for Aspiring Medium Enterprises (FAME) will also work on linking Medium to ‘Make in India’ & ‘Defence offset’ opportunities and facilitate them to form JVs with foreign firms namely Japan, S. Korea and Taiwan etc "
Animesh Saxena, President, FISME
Vol VIII, Issue 212: Oct 1, 2020
FISME organises VC on GST compliance parity needed between offline & online sellers
FISME coordinates meeting for NITI Aayog with MSME associations
Business Banter: Lessons from Entrepreneurs
Are You a Workaholic? How To Focus on Working Smart Instead of Hard In 2020
Macro Metre
Rampant misuse by MNCs undoing ‘Make in India’: FISME
GST revenue collection for August stands at Rs 86,449 cr: Govt Piyush Goyal exhorts G-20 to craft a pathway to recover from Covid-19/a>
Domestic Digest
NCRPB launches P-MIS portal for better transparency and accountability Knowledge and News Network (KNN)
Due date extended to file ITRs for AY20 to 30th November
Penal charges by banks on take-over of working capital accounts unfair: FISME
State Scan
First Medical Device Park to be set up in Kerala Knowledge and News Network (KNN)
AP govt to build industrial park in Atmakur
SIDBI joins hands with UP govt for MSME ecosystem development in the State
World Watch
Investment opportunity for Indian industries and MSMEs in UAE Knowledge and News Network (KNN)
India and Denmark join hands to boost corporation on IPRs Knowledge and News Network (KNN)
Knowledge Store
Bootstrapped startup LokalPe matches blue-collar workers with hyperlocal skill-based jobs
...And A Lot More


FISME organises VC on GST compliance parity needed between offline & online sellers

The GST compliance requirements are proving difficult for thousands of Micro and Small Enterprises (MSEs) while they make transition from offline to online selling platforms. In a virtual meeting organized by Federation of Indian Small and Medium Enterprises (FISME) it was brought out that regulation changes for online sellers from registration to composition scheme to tax collected at source.

FISME coordinates meeting for NITI Aayog with MSME associations

The CEO of NITI Aayog and Chairman of Empowered Group-3 Amitabh Kant held detailed discussions with MSME associations to identify steps for unlocking the economy and strengthening the MSME sector. The virtual meeting coordinated by Federation of Indian Micro and Small & medium Enterprises (FISME) was attended by representatives of over 50 leading associations of different sectors.
Business Banter: Lessons from Entrepreneurs

Are You a Workaholic? How To Focus on Working Smart Instead of Hard In 2020

It is important to differentiate between smart work and overwork because the former does not mean that you should enslave your life by becoming a workaholic and have great productivity. Reflecting on it, I share with you some tips to avoid becoming a workaholic. Work for goals, not for hours If you believe that working around the clock will bring better results, I must inform you that you are wrong. The number of hours you work will not define the productivity and much less the success of your business.
Writing on the Wall

Fragmented recovery of the Indian economy is underway

Ratings agency ICRA NSE 0.44 % on Thursday said that the high frequency lead indicators for August suggest a fragmented recovery of the Indian economy is underway. “The year-on-year performance of 11 of the 16 available indicators staged a pickup in August relative to July,” said Aditi Nayar, principal economist, ICRA in a report on the Indian economy. As per the report, the output of Coal India NSE -1.35 % Limited, motorcycles, and rail freight traffic posted a turnaround to an expansion in August after having displayed a contraction in the previous month while the pace of

Media Monitor

Macro Metre

EPCES Signs MoU with ICAI to promote exports of accountancy and financial services

To promote of export of accounting, auditing and bookkeeping services from SEZs and EOUs the Export Promotion Council of EOUs and SEZs (EPCES) signed an MOU with the Institute of Chartered Accounts of India (ICAI) on 27th September in the ICAI House, Delhi During the inaugural session of Global Week on “Promoting Accounting & Finance Services Globally”. Bhuvanesh Seth, Vice Chairman, EPCES and CA Shri Atul Gupta, President, ICAI signed the MOU in the presence of Shri Alok Chaturvedi (IAS retd), Director General, EPCES and Shri Hans Raj Chugh, Chairman of the Committee for Development of International Trade, Services & WTO.

Rampant misuse by MNCs undoing ‘Make in India’: FISME

One of the flag-ship initiatives of Prime Minister Narendra Modi, the ‘Make-in-India’ programme, is being hijacked by Multi-national companies so says the chief MSME body of the country- Federation of Indian Micro and Small & Medium Enterprises (FISME). FISME highlighted the instances of misuse before the Covid Empowered Group-3 chaired by Amitabh Kant, the CEO of NITI Aayog, during the meeting with three apex chambers recently.

Piyush Goyal exhorts G-20 to craft a pathway to recover from Covid-19

Addressing the Trade and Investment Ministers of the G-20 countries, Union Commerce and Industry & Railways Minister, Piyush Goyal asked the G-20 to play a leadership role in crafting a pathway to recover from COVID19. Piyush Goyal said that one of the key lessons for all countries was the need to strike the right balance between their external and internal economic policies, with a view to ensuring balanced and sustainable development.

India amends Govt public procurement norms to create reciprocity in trade with India’s partners

India has amended its public procurement norms to block those entities of countries from participating in government procurement which do not allow Indian companies to participate in their Government procurement. This move is aimed at creating reciprocity in trade with India’s partners. The Government of India amended the Public Procurement Order, 2017 on 16.09.2020, enabling nodal Ministries/ Departments to notify higher minimum local content requirement for Class-I & Class-II local suppliers which was earlier fixed at 50% and 20% respectively.

Domestic Digest

Due date extended to file ITRs for AY20 to 30th November

Taking in the view, the difficulties being faced by tax payers caused by COVID-19, the Central Board of Direct Taxes (CBDT) has extended the due date for filing of income tax returns (ITRs) for assessment year (AY) 2019-20 from September 30 to November 30. The Income Tax Department on Wednesday announced the extension of dead line to file belated income tax return.

NCRPB launches P-MIS portal for better transparency and accountability

Aiming to improve transparency & accountability in monitoring progress of projects & administering loans National Capital Region Planning Board (NCRPB) launched Project Management Information System (P-MIS) in New Delhi on Tuesday. On the occasion, Durga Shaker Mishra, Secretary, Ministry of Housing and Urban Affairs (MoHUA) congratulated NCRPB at the launch of P-MIS. He said P-MIS is a major step in using digital/ mobile technology.

Penal charges by banks on take-over of working capital accounts unfair: FISME

‘Neither will we serve you nor will any body let you serve’ seems to be the motto of Indian banks when it comes to MSME accounts. During the COVID pandemic, when most MSMEs are reeling under cash crunch and face tremendous pressure on their working capital, penalties are imposed on them if try to change the bank.
State Scan


First Medical Device Park to be set up in Kerala

The Union government will soon set up one of the first medical device parks in Kerala, focusing on the high-risk medical device sector to provide full range of services for the medical devices industry like R&D support, testing, and evaluation. MedSpark, the medical devices park envisaged as a joint initiative of Sree Chitra Tirunal Institute for Medical Sciences & Technology (SCTIMST), an autonomous institute of the Department of Science and Technology (DST), Government of India, and the Kerala State Industrial Development Corporation Ltd (KSIDC), the industrial and investment promotion agency of Kerala government is going to be established in the Life Science Park, Thonnakkal, Thiruvananthapuram.

Andhra Pradesh    

AP govt to build industrial park in Atmakur

The Andhra Pradesh (AP) government will build a state-of-the-art industrial park at Narampet in Atmakur mandal shortly in an area of 173 acres which would generate avenues for 2,000 locals of the state. While laying the foundation stone for the park here on Sunday, Minister for Industries and Information Technology Mekapati Goutham Reddy said ''The park would be initially developed in 87 acres and it would generate avenues for 2,000 local unemployed and revenue for the upland mandals of Atmakur and Udayagiri Assembly segments.''

Uaar Pradesh    

SIDBI joins hands with UP govt for MSME ecosystem development in the State

Small Industries Development Bank of India (SIDBI) has entered into a Memorandum of Understanding (MoU) with the Uttar Pradesh Government to develop the MSME ecosystem in the state. The MoU was exchanged by Navneet Sehgal, IAS, Additional Chief Secretary (Department of MSME), UP government and Manoj Mittal, Deputy Managing Director, SIDBI in the presence of the Chief Minister of Uttar Pradesh Yogi Adityanath.
World Watch

United Arab Emirates    

Investment opportunity for Indian industries and MSMEs in UAE

Aiming to promote a healthier economy by linking investment avenues to support the global investment community United Arab Emirates Ministry of Economy is going to organize the first-ever Digital Edition of the Annual Investment Meeting - World’s leading Investment platform scheduled from 20th to 22nd of October 2020. AIM is an initiative of the UAE ministry of economy, held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.
Read More    Back to Top


India and Denmark join hands to boost corporation on IPRs

Aiming to increase the IP co-operation with Denmark, Department for Promotion of Industry and Internal Trade(DPIIT), Ministry of Commerce and Industry signed a Memorandum of Understanding (MoU) on Saturday, in the field of Intellectual Property Cooperation with the Danish Patent and Trademark Office, Ministry of Industry, Business and Financial Affairs, Kingdom of Denmark. Dr Guruprasad Mohapatra, Secretary, DPIIT and Mr Freddy Svane, Ambassador of Denmark conducted a formal signing ceremony for the same.
Read More    Back to Top
FISME’s official Twitter handle
Knowledge and News Network (KNN)
KNN India’s official Twitter handle
Anil Bhardwaj, Secretary General
Your Views

Do you think that V-shaped economic recovery is possible in India?

According to FISME factor 100% MSMEs think that V-shaped economic recovery is not possible in India
Knowledge Store

HR Heuristics

Five ways leaders can accelerate innovation in their organisation

Leaders are at the forefront of this change and tasked with giving direction to their organisations, to successfully emerge from this crisis unscathed. It starts with changing mindsets and building resilience. Organisationally, achieving or improving resilience includes building a more agile operating model; ensuring that the workforce has the right capability set; nurturing organisational relationships; sharing data in real time; displaying and promoting leadership that engenders trust, supports creativity and innovation.

Finance Fundamentals

7 Steps to Reduce Business Debt in 90 Days

When smaller businesses undergo a slowdown like the one many are currently experiencing (not that there's any precedent for this specific circumstance), owners often target increasing their sales as a primary strategy to reinvigorate their profit goals. Debt reduction, potentially a more achievable step to healthier net profits, is often a secondary consideration, but a focus on recurring debt can provide for significant long-term benefits in operation of an efficient organization, freeing up both money and resources for other, more profitable endeavors.

Marketing Mantras

4 Ways SEO Will Help Your Business Stay Afloat During the Pandemic

Still unsure about whether to invest more of your marketing efforts in SEO during the Covid-19 pandemic? Want to know why some brands have been increasing, instead of cutting, their SEO budgets amid all this uncertainty? Let’s take a look at how the unique strengths of search engine marketing (SEM) have helped a few discerning businesses stay afloat while others have faced extinction. As you’ll see, SEM isn’t going anywhere — in fact, it’ll be particularly essential to businesses well after the pandemic ends.

Policy Polemic

Compulsory Rapid COVID-19 Testing of Industrial Workers in Haryana Sparks Row

The District Magistrate of Faridabad has ordered compulsory intensive testing of all the industrial workers in Faridabad at the cost of factory owner. Factory owners already facing financial crisis as they had to pay to workers during entire period of lockdown, feel distressed by the new dictat.

SME Special

Bootstrapped startup LokalPe matches blue-collar workers with hyperlocal skill-based jobs

In April, shortly after the coronavirus lockdown, 120 million out of 170 million blue-collar workers in India went unpaid due to either unemployment or delayed wages. Between March and May, India's unemployment rate more than tripled from 8.75 percent to 27.1 percent, according to the Centre for Monitoring Indian Economy. While things have looked up since then, with the average unemployment rate dropping to 9.1 percent in August, it is still rising in rural areas. And migrant workers who returned home due to the lockdown continue to go without jobs.

Success Story

Probotics startup Zoh is using nutrition science and tech to revolutionise the fermented foods industry

When 250 bottles of Salonii Hamirwasia’s kombucha sold out at the Bandra Farmer’s Market, and she came away with orders for another 300, she realised she had stumbled upon something substantial. Never intending to change career paths, Salonii, a research scientist, was at that point in her life fielding offers to lead a Swiss conglomerate’s probiotics R&D division.


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

Quotable Quotes

“ Time is like river. You can’t touch the same water twice, because the flow that has passed will never pass again. ”
– - Swami Vivekananda - Spiritual Genius and chief disciple of the 19th-century Indian mystic Ramakrishna.
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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