If you are unable to view this mailer, click here.

 

  The FISME Factor  

 

President's Message
Mr Animesh SaxenaFrom the ramparts of Lal Qila, Prime Minister Modi has announced a super mega initiative ‘Gati Shakti’ to give impetus to economic growth on independence day. Dubbed as the ‘National Master Plan’- ‘Gati Shakti’, will be a huge scheme of more than 100 lakh crores rupees and is to lay the foundation of integrated infrastructure for mobility. There is no doubt that Indian companies face a competitive disadvantage because of infrastructure bottlenecks. Inland haulage is expensive and dysfunctional. Thanks to a monopoly- CONCOR, the freight charges for a container to move by rail from TKD, Delhi to JNPT, Mumbai exceeds sea freight from Mumbai to Dubai! Connecting Road, Rail, Air and Waterways with existing and future economic zones could indeed be transformative for Indian economy. This can be a stepping stone for economic independence. "
Animesh Saxena, President, FISME
Vol VIV, Issue 234: Aug 15, 2021
Business Banter: Lessons from Entrepreneurs
How to Go From Startup to Global Leader in 4 Steps
Macro Metre
Index of Industrial Production jumps by 13.6 per cent in June 2021
RBI keeps repo rate unchanged, projects 9.5% GDP growth for FY 22
Domestic Digest
Govt notifies extension of export rebate for textile exporters Knowledge and News Network (KNN)
Ban on single-use plastics items from July 1, 2022 notified
Financial package for MSMEs on cards: Union MSME Minister
State Scan
Industry representatives apprised Odisha govt of issues related to land, power supply & others Knowledge and News Network (KNN)
1000 acre Modern Industrial Park to come up in Ludhiana
Jammu MSMEs seek fiscal incentives to encourage export of quality goods
World Watch
Himachal varieties to be showcased at Apple Promotion Programme by Al Jajira Group in Bahrain
Knowledge Store
5 Strategies for Effectively Managing People in the New Hybrid World
...And A Lot More
Business Banter: Lessons from Entrepreneurs

How to Go From Startup to Global Leader in 4 Steps

Each year, around 100 million businesses are launched globally. That’s more than three startups per second. In the UK alone, a new tech business was launched every 30 minutes in 2020. Inevitably, the vast majority of these businesses will sadly collapse within five years, with some estimating the failure rate to be as high as 90%. In my experience with my own business, I know it’s not a linear process to achieve success on a global scale. When you first launch your start-up, it’s easy to get caught up in the everyday noise and endless to-do lists. Sure, the day-to-day tasks are fundamental in keeping the cogs turning. However, it can hamper your ability to focus on the bigger picture and pursue your long-term strategy and goals.
Writing on the Wall

PM announces ₹100 lakh crore Gatishakti plan for holistic growth, National Hydrogen Mission

Prime Minister Narendra Modi on August 15 announced a ₹100 lakh crore 'Gatishakti' initiative to bring employment opportunities for the youth, help local manufacturers become globally competitive and aid in holistic infrastructure growth. Addressing the nation on India’s 75th Independence Day from the Red Fort, Mr. Modi said the 'Pradhan Mantri Gatishakti National Master Plan' will develop the possibilities of new future economic zones, and also announced the setting up of a National Hydrogen Mission to make India the new global hub of green hydrogen and its largest exporter. ...

Media Monitor

Macro Metre

Index of Industrial Production jumps by 13.6 per cent in June 2021

The Index of Industrial Production (IIP), saw a year-on-year growth of 13.6 per cent in June, said a data released by the Ministry of Statistics & Programme Implementation (MoSPI). For the month of June 2021, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 122.6, the data said on Thursday. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for June 2021 stand at 105.5, 121.0 and 169.1 respectively. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.

RBI keeps repo rate unchanged, projects 9.5% GDP growth for FY 22

Reserve Bank of India has decided to keep the Policy Repo Rate unchanged at 4%; Marginal Standing Facility (MSF) Rate and Bank Rate at 4.25% and Reverse Repo Rate at 3.35%. “Policy Repo Rate will remain unchanged at 4%; Marginal Standing Facility (MSF) Rate and Bank Rate will remain unchanged at 4.25% and also Reverse Repo Rate also will remain unchanged at 3.35%”, governor of the Reserve Bank of India, Shaktikanta Das announced this during his Monetary Policy Address on Friday. He also mentioned that the Monetary Policy Committee has unanimously voted to leave Policy Repo Rate unchanged (4%) in order to continue with the accommodative stands to revive growth and continue to mitigate the impact of COVID-19 Pandemic.

CBDT extends due dates for electronic filing of various forms under IT Act, 1961

Central Board of Direct Taxes (CBDT) has extended due dates for electronic filing of various Forms under the Income-tax Act, 1961 in view of the difficulties being faced by the taxpayers and other stakeholders in electronic filing of certain Forms. “On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act, 1961 read with Income-tax Rules,1962 (Rules), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electronic filing of such Forms”, the Ministry of Finance said in a statement.

Domestic Digest

Govt notifies extension of export rebate for textile exporters

The Ministry of Textiles has notified the continuation of the Rebate of State and Central Taxes and Levies (RoSCTL) scheme for export of garments and made-ups to enhance competitiveness of these sectors. According to the notification, the garment exporters will continue to get a rebate on central and state taxes on their outward shipments till March 2024. A mechanism for such revision shall be decided separately by the Ministry of Textiles and Ministry of Finance. However, eligibility criteria under RoSCTL shall remain unchanged.

Ban on single-use plastics items from July 1, 2022 notified

In a bid to make India Single-use plastic-free by 2022 and to get rid of plastic waste across the country, the government has notified ban on the use of single -use plastic items from July 1st next year. The Centre also increased the thickness of polythene bags from 5o macrons to 120 macrons. However the thickness clause will be implemented in a staggered manner in two phases, from September 30. According to the notification by the Environment Ministry on Thursday, polythene bags of less than 75 microns in thickness will be banned from September 30 and bags of less than 120 microns will be banned from December 31 next year.

Financial package for MSMEs on cards: Union MSME Minister

Union Minister of Micro, Small and Medium Enterprises (MSMEs) has said that his ministry is taking necessary measures for the development of the MSME sector. During a meeting with delegation from the Marathwada Association of Small Scale Industries and Agriculture (MASSIA) in New Delhi on Tuesday,'' he also said,'' Soon a special financial package will also be announced for the small industries and traders.'' The union minister of state for finance Dr Bhagwat Karad and former Mayor Bhagwan Ghadamode accompanied the delegation. The members gave a presentation and held discussion on the problems of the MSMEs.

Centre releases revenue deficit grant of Rs.9,871 cr to 17 states

The Department of Expenditure, Ministry of Finance on Monday released its 5th monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs. 9,871 crore to the States. With the release of this installment, a total amount of Rs. 49,355 crore has been released to eligible States as Post Devolution Revenue Deficit Grant (PDRD) in the current financial year, the government said in a statement. The Post Devolution Revenue Deficit Grant is provided to the States under Article 275 of the Constitution.
State Scan

Odisha    

Industry representatives apprised Odisha govt of issues related to land, power supply & others

Several industry representatives have met Odisha government officials and apprised them of issues pertaining to land, power supply, license renewal, credit to the units, approach road and water supply. The meeting under the ‘Industry Care’ initiative was held with industries in the District of Ganjam, Gajapati, Nayagarh and Kandhamal on 10th and 11th August 2021. Reportedly, a detailed discussion with the participated industries was also held followed by the presentation on District Investment Promotion Agency (DIPA) by Bhupendra Singh Poonia, IAS MD, IPICOL.

Punjab    

1000 acre Modern Industrial Park to come up in Ludhiana

A meeting comprising MSME's representative and senior officials of Greater Ludhiana Area Development Authority (GLADA) was conducted on Monday. The meeting was called and chaired by P S Gill, IAS Chief Administrator, GLADA and Sandeep Kumar, IAS, ADC Urban Development, Rakesh Kansal GM DIC where they apprised industrial association of a 1000 acre modern industrial park being developed by the government situated at Kumkalan, Ludhiana.

Jammu    

Jammu MSMEs seek fiscal incentives to encourage export of quality goods

Hailing Prime Minister Narendra Modi's target of 400 billion dollars in exports this year, Bari Brahmana Industries Association (BBIA) has requested for fiscal incentives in the shape of reimbursement of road freight to the local unit holders to encourage them to export quality goods. BBIA president Lalit Mahajan said Jammu and Kashmir (J&K) is sitting at the far end of the country and face additional cost of production and transportation for sending finished goods by road to nearest port due to non-availability of Inland Container Depot or Dry port in the Union Territory.
World Watch

Bahrain    

Himachal varieties to be showcased at Apple Promotion Programme by Al Jajira Group in Bahrain

Aiming to promote agricultural and processed food products exports to newer destinations, APEDA in collaboration with Himachal Pradesh Horticultural Produce Marketing and Processing Corporation Ltd (HPMC) on Friday exported first consignment consisting of five unique varieties of apples to Bahrain. Royal Delicious, Dark Baron Gala, Scarlet Spur, Red Velox and Golden Delicious are the five apple varieties exported to Bahrain. The apples are sourced from the farmers of Himachal Pradesh and exported by APEDA registered DM Enterprises, an official statement said.
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

Will extension of date for implementation of Rules for current account in Banks bring relief to MSMEs?

According to the FISME factor, 100% of the MSMEs think that extension of date for implementation of Rules for current account in Banks will bring relief to MSMEs?
Knowledge Store

HR Heuristics

5 Strategies for Effectively Managing People in the New Hybrid World

As businesses consider their workplaces in a post-pandemic world, it’s clear they’re not going back to business as usual. In the aftermath of breaking numerous barriers around the definition of remote and hybrid work, companies need to rethink and retool their vision for the future.

Finance Fundamentals

The Superior Way Seasoned Business Owners Can Grow Their Revenues

What would you do if you needed to get some new clients and revenue before the next month? If you’re a business owner, even a well-established business owner, this will happen to you at some point. For instance, how would you respond if a few clients unexpectedly leave you at once? Similarly, could you absorb the crushing blow of learning that some of your clients simultaneously can’t pay you on time or even at all? Additionally, what happens if you find your leads or sales pipeline is drying up?

Marketing Mantras

5 Ways Small Businesses Can Use Digital Branding to Stand Out

Put very simply, digital branding is your virtual footprint on the web — from logo and colors to the tone of voice used in online communications. Such brand identifiers are what sets a company apart from competitors. Whether the goal is to build a multi-million-dollar ecommerce business or a successful home-based company, creating a digital brand is the first place to start.

Policy Polemic

Delay in opening up malls & multiplexes in Maharashtra may spell doom for business & employees

Retailers Association of India (RAI) on Monday urged the Maharashtra government to allow reopening of malls and multiplexes immediately, citing that any further delay in doing so would spell doom for businesses and employees associated with malls.

SME Special

How a 23-year-old entrepreneur built a 2G-based food delivery business in Kashmir

Srinagar-based Gatoes runs a food and grocery delivery service that can run on 2G. In 10 months, the bootstrapped startup has delivered 2.5 lakh orders and hit Rs 10 crore in GMV.

Success Story

This D2C vegan ice cream startup started from a kitchen and is now present across at least 4 cities

The vegan food industry, which was quite nascent until a few years ago, has been on a rise in India. According to a Statista report, 52 percent out of 6,934 people surveyed in 2019 said they were following a plant-based diet. With the increasing awareness around climate change, dairy restrictions, and animal rights, more and more people have taken to a vegan lifestyle.

Stockpile

The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) has released the quick estimates of index of industrial production and use-based index for the month of June, 2021 (Base 2011-12=100)

Quotable Quotes

“ Knowledge, if it does not determine action, is dead to us. ”
– - Plotinus- Hellenistic philosopher of Roman Egypt
 
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

4 New Members Join FISME

4 new MSME became members of FISME during the period from 1st August to 15th August 2021
Reader Reactions

Write and Win prize!

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.
send mail to: newsletter@fisme.org.in
   Bach to Top
Opportunities
Editorial Team:
Hon. Editor: Anil Bhardwaj
Asstt. Editor: Kalpana Sharma
Types setting & websdesigning: Sanjay Sachan  

 

You are receiving this Newsletter because you are included in our mailing list of recipients who are involved or interested in FISME or Indian MSMEs. You are welcome to partly or fully reproduce and disseminate the contents of this publication provided that you acknowledge the source.

To subscribe/unsubscribe to this Newsletter
click subscribe or unsubscribe

This Newsletter is edited by the FISME Secretariat. We welcome contributions as well as comments and suggestions. Please write to newsletter@fisme.org.in
Federation of Indian Micro and Small & Medium Enterprises (FISME)
Headquarter: B – 4 / 161, Safdarjung Enclave, New Delhi – 110029
Telephone: +91 11 26187948, +91 11 26712064, +91 11 46023157   Fax: +91 – 11 – 26109470
Email: info@fisme.org.in ,   Website: www.fisme.org.in
Bangalore
57/5, Family YMCA Building,
Millers Road, Benson Town,
Bangalore - 560046
Tel: +91-80-23543589
Email: bangalore@fisme.org.in
Hyderabad
H. No. 6-3-569 / 1/2/4
2nd floor, Rockdale Compound, Somajiguda
Hyderabad – 500082
Tel: +91- 40- 23322117 Fax: +91 -40- 23312116
Email: hyderabad@fisme.org.in
 
Jhandewalan
Tel: +91- 11- 4364 2013
Email: chamber.jw@fisme.org.in
Mahipalpur
Tel: +91 -11- 46035866
Email: chamber.mpur@fisme.org.in
Kalkaji
Tel: +91 -11- 4106 8644
Email: kalkaji@fisme.org.in