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  The FISME Factor  

 

President's Message
Mr Animesh SaxenaThe 24% drop in GDP numbers of last quarter is unprecedented. It has created screeching headlines. But this piece of statistics was not entirely unexpected due to complete shut-down of economic engine for almost two months. What is more relevant is to study as to how did we fare in comparison with competing economies. At one glance, it looks the drop in India has been severe. Many countries including Bangladesh and Pakistan have done better in managing the spread and limiting the impact of Covid on their economy. Our own experience has been that unlocking has not been as synchronized as locked down had been. The supply chains remain disrupted even now as different States and enforcement agencies continue to devise their own Rules. Functioning of emergency services such as Ports was frequently disrupted due to Covid cases and sudden changes in policies. So, we feel, while lockdown was largely unavoidable to buy time to gear up the system to respond to Cob=vid pandemic, it was ‘unlocking’ that proved a greater nuisance for businesses. There are many irritants like Quarantine Rules in Districts/ States, opening-closure of businesses, restrictions borders of States among others which require urgent attention to bring back normalcy. The GDP numbers for next quarters will be positive and may return with a V- shape curve. "
Animesh Saxena, President, FISME
Vol VIII, Issue 210: Sep 1, 2020
Business Banter: Lessons from Entrepreneurs
Why Pattern-Based Recognition Cannot Drive A Successful Entrepreneur
Macro Metre
FM to review implementation of resolution framework for COVID-19 related stress in bank loans
Govt extends Partial Credit Guarantee Scheme till 19 Nov 2020
Domestic Digest
NI-MSME announces a one-week training programme on “Enterprises Development through Self–Employment” Knowledge and News Network (KNN)
RBI extends MSME registration UAM/EM-II till March 31, 2021
Govt operationalises Rs 20,000 crore stressed fund for MSMEs
State Scan
UP MSME dept. to sign MOU with NIFT, SIDBI & IIP to promote ODOP Knowledge and News Network (KNN)
MSMEs in Punjab are being blackmailed in the name of child labour: AITF
Textile cluster inaugurated in Rai, Sonipat
World Watch
KVIC to supply mustard oil to ITBP Knowledge and News Network (KNN)
Knowledge Store
How to Avail an SME Business Loan?
...And A Lot More

Business Banter: Lessons from Entrepreneurs

Why Pattern-Based Recognition Cannot Drive A Successful Entrepreneur

Science explains pattern-based recognition as a classification of data based on already existing information, extracted from patterns with the help of machine-oriented algorithms. Pressing terms in the definition are ‘already’ and ‘existing’, as they boast stagnation. A successful entrepreneur consistently aims at moving ahead and cannot afford to remain stuck at a specific point for a long time span. With each new dawn, the modern world witnesses transitions with regard to trends, consumer preferences, competitor strategies and several other facets. In order to survive and grow in the market, businesses need to adopt a proactive and practical approach that has sufficient room for welcoming yet another change.
Writing on the Wall

In free fall: GDP contraction indicates public investment is needed to trigger a revival

The economy shrank in the April-June quarter by 23.9%, an unprecedented fall. It provided the first overview of the extent of the economic damage on account of the outbreak of Covid-19 and subsequent lockdowns. The data needs to be viewed in context. Gathering of data was disrupted by the pandemic, resulting in improvisations. Moreover, formal sector data is used extensively to proxy the fortunes of the informal sector. The damage to the informal sector is likely much worse..

Media Monitor

Macro Metre

FM to review implementation of resolution framework for COVID-19 related stress in bank loans

Union Minister for Finance Nirmala Sitharaman will meet top management of Scheduled Commercial Banks (SCBs) and Non-Banking Financial Companies (NBFCs) on September 3 to review the implementation of the resolution framework for COVID-19 related stress in bank loans. ''The review will focus on enabling businesses and households to avail of the revival framework on the basis of viability, necessary steps like finalising bank policies and identifying borrowers, and discussing issues that require addressing for smooth and speedy implementation, ''a Finance Ministry statement said Sunday.

Govt extends Partial Credit Guarantee Scheme till 19 Nov 2020

The Union Finance Ministry has extended the validity of its Partial Credit Guarantee Scheme (PCGS) 2.0 by three months to November 19, 2020, to build the portfolio. Its scope was extended to provide greater flexibility to the state-owned banks in purchasing bonds and commercial papers of the non-banking financial companies (NBFCs). The Finance Ministry said the portfolio level of AA and AA- investment sub-portfolio will be extended to 50 per cent instead of 25 per cent stipulated earlier of the total portfolio of Bonds and CPs purchased by public sector banks (PSBs) under the scheme.

90 per cent pending dues of MSMEs cleared: ADC, MSME

The government has worked on clearing delayed payments and almost cleared 90 per cent of the pending dues of Micro, Small and Medium Enterprises (MSMEs) said, Anand Sherkhane, Additional Development Commissioner (ADC), of MSME ministry. While speaking at a webinar organised by the PHD Chamber of Commerce and Industry on Debtors and Industry Protection through Insurance - Need of MSME Sector, on Friday, Sherkhane said, ''the government has worked on clearing delayed payments that has given some ignition to the reviving MSME sector. They are working diligently on it and uploading all the outstanding bills and almost 90 per cent of the payments have been cleared.''

Domestic Digest

NI-MSME announces a one-week training programme on “Enterprises Development through Self–Employment”

National Institute for Micro Small and Medium Enterprises (NI-MSME), has announced a one-week training programme on “Enterprises Development through Self–Employment” here scheduled from September 21 -25. The programme is designed to meet the requirements of officers belonging to the directorate of industries and Banks. It will also benefit those who are involved in decision making and policy implementation of MSMEs in their regions.

RBI extends MSME registration UAM/EM-II till March 31, 2021

The Reserve Bank of India (RBI) has extended the validity of Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) from June 30, 2020 to March 31, 2021. ''The existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) of the MSMEs obtained till June 30, 2020 shall remain valid till March 31, 2021. Further, all enterprises registered till June 30, 2020, shall file new registration in the Udyam Registration Portal well before March 31, 2021,'' RBI said in its circular dated August 21.

Govt operationalises Rs 20,000 crore stressed fund for MSMEs

In a bid to provide financial facility to stressed Micro, Small and Medium Enterprises (MSMEs), the government has operationalised Rs 20,000 crore stressed fund which is likely to benefit around 2 lakh Small and Medium entrepreneurs. In this regard on Wednesday, the government issued guidelines for Credit Guarantee Scheme for Subordinate Debt (CGSSD) which is a part of the Rs 20.97 lakh crore Aatma Nirbhar Bharat Abhiyan package announced by Prime Minister Narendra Modi. Confirming the same, the MSME ministry took to twitter and said, "Govt. has given yet another facility for financially stressed MSMEs. The sub-debt scheme has been launched. All preparation is done. All PSU Banks and some Pvt Banks are on board. Contact your bank & be #msmetochampions. @FinMinIndia @DFS_India @CGTMSEOfficial."
State Scan

Uttar Pradesh    

UP MSME dept. to sign MOU with NIFT, SIDBI & IIP to promote ODOP

In a bid to promote One District-One Product (ODOP) on an international platform, the state Micro, Small and Medium Enterprises (MSME) department will sign an MOU with National Institute of Fashion Technology (NIFT), Indian Institute of Packaging (IIP) and Small Industries Development Bank of India (SIDBI). Speaking on the same, state MSME minister Siddharth Nath Singh the agreement with NIFT and IIP would improve the design and packaging of ODOP products, besides promoting the Local-Vocal campaign while SIDBI will help entrepreneurs under ODOP meet the challenge of working capital.

Punjab    

MSMEs in Punjab are being blackmailed in the name of child labour: AITF

Micro, Small and Medium Enterprises (MSMEs) in Punjab have alleged that they are being blackmailed by some child rights protection organisation and departments in the name child labour. All Industries and Trade Forum (AITF) national president, Badish Jindal in a letter to Punjab Chief Minister Capt. Amarinder Singh said, ''Sir in Punjab few organizations are black mailing the industries on the name of Child Labour. The Industry of Punjab is following all norms in regard to labour laws but still the industry is facing the harassment from department in connivance with few so-called child rights protection organizations.''

Haryana    

Textile cluster inaugurated in Rai, Sonipat

The first cluster 'Rai Textiles & Allied Products Pvt ltd' under the Mini Cluster Scheme of Haryana government has been started in the district. The mini cluster is supported by the Haryana government and it was inaugurated by R K Rana, Joint Director, District Industries Centre (DIC) on Friday. While sharing the information about the cluster a Sonipat-based businessman, Rakesh Chabra said, ''Haryana Government launched the Mini Cluster Scheme in its Industrial Policy of 2015. In this scheme the government share will be 90 per cent of the cost of Machines. The MSMES of same trade & same industrial area can make a Mini Cluster.''

Assam    

68,000 MSMEs in Assam to be benefitted under Atma Nirbhar Bharat Abhiyan

Assam Chief Minister Sarbananda Sonowal has said that 68,000 MSMEs in the state will be benefited by the Atma Nirbhar Bharat Abhiyan. Sonowal said this while reviewing the implementation status of the Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs of Dibrugarh and Tinsukia districts under Atma Nirbhar Bharat Abhiyan at a meeting held at the Dibrugarh deputy commissioner’s office. During the meeting the chief minister also held a discussion with the MSME owners of the two districts and urged them to take advantage of the Atma Nirbhar Bharat initiative.
World Watch

Tibet    

KVIC to supply mustard oil to ITBP

The Khadi and Village Industries Commission (KVIC) has received the first order from Indo-Tibetan Border Police (ITBP) for supplying 1200 quintals of kacchi ghani mustard oil worth Rs 1.73 crore. The purchase order comes just weeks after the MoU signed between KVIC and ITBP on July 31, which is aligned with the Prime Minister’s call for “Aatmanirbhar Bharat” and “Vocal for Local”. As per a statement by KVIC, the order will be supplied to ITBP within 30 days from the date of order. The MSME Minister, Nitin Gadkari lauded KVIC’s efforts saying this would encourage local production and empower lakhs of people engaged with village industries.
Read More    Back to Top
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Anil Bhardwaj, Secretary General
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Your Views

Do you think that ban on import of 101 defence items is a significant step towards achieving self-reliance?

According to FISME factor 100 percent MSMEs think that ban on import of 101 defence items is a significant step towards achieving self-reliance.
Knowledge Store

HR Heuristics

How to lead an agile team to success in uncertain times

There is a popular quip doing the rounds on social-media platforms about this whole resetting thing and chances are you may have come across it, too. It asks the reader whether anyone knows how to turn off the year 2020 and turn it on again. It is accompanied by an image of a reset button. In reality, however, many things in life do not have a reset button.

Finance Fundamentals

How to Avail an SME Business Loan?

A massive generator of employment opportunities, small and medium-sized industries are the driving force behind jumpstarting economic development. NBFCs are becoming the ultimate solution for availing SME business loans. With utmost emphasis on digital media platforms for gauging the borrowers’ loan eligibility, the traditional lending norms for obtaining SME business loans are being uprooted and stashed away by many.

Marketing Mantras

During COVID, Affiliate Marketing Is Emerging As a Cost-effective Channel For Brands

With the outbreak of the pandemic, going for performance-oriented channels has become a prerequisite for stability. Several advertisers are struggling with low marketing budgets and a pressure to drive return on investment (RoI) through limited spends, especially owing to current times.

Policy Polemic

Indian retail industry continues to struggle due to weekend curfews and partial lockdowns: RAI

The Indian retail industry continues to struggle to get back on its feet as many states still impose weekend curfews and partial lockdowns which hurt retail business and dampen consumer sentiment, the Retailers Association of India (RAI) said on Tuesday.

SME Special

How MapmyIndia built an Indian super app for maps, mobility, hyperlocal discovery

MapmyIndia Move, an app by Delhi-based MapmyIndia, recently won Prime Minister Narendra Modi’s Aatmanirbhar Bharat App Innovation Challenge in the Others category for its unique indigenous solution for ensuring hyperlocal discovery. MapmyIndia Founders Rakesh Verma and Rashmi Verma took a big gamble to put maps online. When their business was started as CE Infosystems was started in 1995, India did not have a map-reading culture like the US.

Success Story

Pivot and Persist: Clothing startup NorthMist records Rs 1 Cr MRR after launching sustainable facemasks

Facemasks are the hottest accessories in town. And with numerous options in the market, we’re not only spoilt for choice but also left with many questions. Which ones are reusable? Are all of them washable? But even as we adopt facemasks to protect ourselves and those around us from COVID-19, a new set of problems seems to have cropped up.

Stockpile

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

“ All of us, in a sense, struggle continuously all the time, because we never get what we want. The important thing which I’ve really learned is how to not give up, because you never succeed in the first attempt. ”
– - Mukesh Dhirubhai Ambani - Indian Business Magnate & Chairman of Reliance Industries Ltd.
 
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:
New Members

1 New Member Join FISME

1 new MSME became members of FISME during the period from 15th August 2020 to 31st August 2020
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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