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President's Message
The recent repeal of three Farm laws has left a lot of people somewhat despondent. The frustration was quickly fanned by newspaper reports that now economic reforms would be put on back burner. We feel that it is set back all right but it necessitates a different approach for carrying out reforms from now on. Agriculture, which continues to employ over half of Indians contributes barely 20% to India’s GDP. Without reforms neither can farmers’ income be increased nor the agri-based industrialization could be built. They are interrelated as farmers are producing too much of what is not needed (wheat, sugar cane etc.) and Govt has to keep buying them and store the produce to get wasted. On the other hand, agriculture-based industries cannot have access to the range of agri-produce needed to run them. As opposed to external sector reforms (removal of import restrictions, entry/ exit barriers), internal reforms (indirect taxes, banking, agriculture, power, education, judiciary, police etc) have always proved tricky. But with the right strategy, consultations, and political acumen a headway could be made. GST is a good example. Post repeal of farm laws, the attention may shift to States. That could be incremental progress but might allay fears among farmers that corporates are out to grab their land. In a messy democracy, it is better to enable those States who want to and can take bets on greater reforms paving way for others to follow. This could be a template for other reforms too.
"
Being sustainable doesn't mean being perfect, but following these practices can get you close.
As entrepreneurs, we often forget to look at our business journey as a part of life. There is not one single business journey out there that has been perfect, but choosing how to pursue sustainability is worth admiring. Sustainability can mean so many different things, but in short, it means making more out of less. It’s about creating cycles that can sustain themselves. Hence the “sustainable sign” we are all familiar with.
Now that Prime Minister Narendra Modi has sacrificed his poorly designed makeover of India’s farms at the altar of electoral math, there will perhaps be no fresh attempt at reform for a decade. That’s a shame for urbanization.
Agriculture in the second-most-populous nation suffers from many infirmities: Unlike the Japanese rulers of Taiwan in the first half of the 20th century, Britain’s colonial government in India didn’t give tenants secure rights, dooming post-independence land reforms. Holdings are fragmented and uneconomical; crop diversification beyond rice
Piyush Goyal, Union Minister of Commerce & Industry, has termed the Insolvency and Bankruptcy Code (IBC), 2016 as a “game changer reform” that has been the most successful law in insolvency resolution in the country.
While speaking at the 5th Foundation Day function of the Indian Institute of Insolvency Professionals of ICAI (IIIPI) on Thursday, he hoped the faster Insolvency Resolution enabled by the IBC will eventually pave the way for banks to bring down the ‘Cost of Credit’.
The Winter session of Parliament began today and the Standing Finance Committee has approved the MSME Champions Scheme with a total outlay of INR 273.24 crore.
A ‘Digital MSME’ component has been included for digital empowerment of MSMEs in the country, as part of this Scheme. In addition to this, there are several Technology Centres under the Ministry are also assisting on technological and automation interventions along with training support, said the official release.
The Standing Finance Committee has also approved the International Cooperation Scheme comprising of First Time Exporters and Global Marketing Intelligence System with a total outlay of INR 90 crore.
The State-run Energy Efficiency Services Limited (EESL) in association with the Ministry of Ministry of Micro, Small & Medium Enterprises (MSME), United Nations Industrial Development Organization (UNIDO) and Global Environmental Facility (GEF) will install 35 energy-efficient technologies in MSMEs, as per media reports.
According to a statement by EESL published in LiveMint, the aim of this project is to deploy 35 energy efficient technologies which have maximum possibility of replication and potential to improve the energy productivity of fellow MSMEs units.
The Ministry of Skill Development and Entrepreneurship (MSDE) has announced to equip the street vendors of East Delhi with skills which will make them eligible for e-cart licenses and overall improve the hygiene conditions in food preparation and aesthetics of vending.
This will be a push to formalize the unorganised sector and upskill the street food vendors. It will be implemented under the Recognition of Prior Learning (RPL) component of Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 3.0 with the objective to provide relevant skills to the Street Food Vendors, leading towards better services to consumers, more opportunities to vendors for revenue generation, awareness on regulations and stipulated rules, in return providing better services to the local bodies, said the official release.
During the 9th meeting held by the Empowered Committee of North East Industrial Development Scheme (NEIDS) 2017 under the Chairmanship of Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), registration to 105 new industrial units in the North East have been granted.
Till date, a total of 391 new industrial units with a proposed total investment of INR 2631.19 crore have been granted registration under NEIDS, 2017. With this all applications recommended for registration by the concerned state governments upto 31st October 2021 has been considered by the Empowered committee, said the official release.
The Udyam Portal under the Ministry of Micro Small and Medium Enterprises (MSME) has registered 58 lakh MSMEs so far.
This portal is the only official platform of the central government that is used to register a new MSME or to re-register already registered one. Speaking at 18th edition of the Global MSME Business Summit 2021 organised by the Confederation of Indian Industry, B B Swain, Secretary, Ministry of MSME said that the Udyam Registration Portal has clocked over 58 lakhs registrations, as published in Economic Times.
He also said that new components are being launched this year which includes the development of the National Resource Database System, a global market inclusion system for MSME units.
Union Minister for MSME, Narayan Rane launched the Special Credit Linked Capital Subsidy Scheme (SCLCSS) for services sector on Friday which was the second day of MSME North East Conclave in Guwahati.
The aim of this scheme is to help with requirements related to technology which concern enterprises in the services sector. It also has a provision of 25% capital subsidy for procurement of Plant & Machinery and service equipments through institutional credit to the SC-ST MSEs without any sector specific restrictions on technology upgradation.
MSME Minister Rane also felicitated SC/ST Entrepreneurs of the North-eastern region and encouraged the youth to take up entrepreneurship to become job givers than job seekers.
During the Investment Conclave held on 23rd November at Coimbatore, GHCL Limited, chemical and textile company, has signed a Memorandum of Understanding (MoU) with the government of Tamil Nadu for investing INR 500 crore in the state.
The textile company will set up 40,000 ring spindles in Manaparai, Tiruchirappalli district to produce synthetic and synthetic blended yarn to cater to knitting and weaving segments, as published in Fibre2Fashion.
The Ministry of Micro, Small and Medium Enterprises (MSME) is providing financial aid to Indian Institute of Technology (IIT) Kanpur in promoting the creation of educational toy clusters across the country.
The institute’s technology business incubator -- Foundation for Innovation and Research in Science and Technology (FIRST, IIT Kanpur) -- has partnered with MSME to facilitate the ministry’s design scheme, as published in Telegraph India. On receiving approval from the Project Monitoring and Advisory Committee’s (PMAC), the MSME Development Institute has given a grant to five enterprises from FIRST IIT Kanpur to make prototypes of sustainable educational toys.
The Government of Kerala is organising Machinery Expo 2022 from 23rd to 26th January, 2022 in Ernakulam.
Resurgent Kerala was chosen as the central theme of the program and Responsible and Sustainable Industry – Plastics, while Recycling, E-mobility, Renewable energy etc. was chosen as the focus area. The participating exhibitors from the focus areas shall be given Focus Area Branding on their stalls. The main aim of the expo is to showcase the latest trends in technologies with an emphasis on machine tools, automation technologies, CNC machines & systems, SPMs and other advanced processing and packaging machinery for various sectors, said the release.
Bharat Electronics, aerospace and defence electronics firm owned by the government of India has signed a deal with Dronedek to manufacture smart mailboxes for the American drone delivery platform.
The main purpose of smart mailboxes will be contactless deliveries by unmanned aerial vehicles.
Dan O’Toole, Chief Executive of Dronedek said, “The smart mailboxes will be deployed across Dronedek’s global markets, however we haven’t received any orders for deployment in India as of now.”
This announcement indicates that the Indian government is progressively working on policies to promote drone delivery systems.
Uzbekistan has asked Indian pharmaceutical companies to explore its USD 1.3 billion medical drug market by setting up their manufacturing base and make this industry a key driver of Uzbek economy, said Alisher Temirov, Deputy Minister, Pharmaceutical Industry Development of Uzbekistan during a meeting on ‘Doing Business with Uzbekistan’ organized by the MVIRDC World Trade Center – a trade facilitating body and All India Association of Industries – an industry body.
Do you think that the Haryana law reserving 75% of private sector jobs for locals is anti-industry?
According to the FISME factor, 40% of MSMEs think that the Haryana law reserving 75% of private sector jobs for locals is anti-industry while 60% can’t say.
Back in the days of industrial relations (IR), human resources (HR) was generally referred to as personnel management, and HR managers were called personnel managers or officers. However, over time, ‘personnel management’ evolved into ‘human resource management’ and now it has further transformed into people strategy.
3 Key Business Finance Tips for First-Time Entrepreneurs
I’ve started and run several businesses — seven in total, with three still running. Building a business is hard work, and it involves a lot of trial and error.
More often than not, growing businesses use sales and marketing efforts to drive their revenues. Marketing basically uses advertising and other techniques to bring leads into the business. Your sales team either closes the leads handed to them by the marketing department (inbound sales), or they actively hunt new end-clients down with prospecting efforts (outbound sales).
Textile units in Delhi NCR face power shortage despite assurances of uninterrupted supply from govt
The textile units in Faridabad and other places of Delhi NCR are facing power cuts which is posing major disruption in production.
Dr. Animesh Saxena- Manging Director Neetee Apparels- a leading garment exporter and President of Federation of Indian Micro and Small & Medium Enterprises (FISME) told KNN about this issue which is hampering the functioning of textile industry.
This woman entrepreneur from Aurangabad gives heavy metal a whole new meaning while busting myths
Last week, while the business community and media were celebrating, and rightly so, the rise of women entrepreneurship in India on the occasion of Women Entrepreneurship Day, a 34-year-old frail woman stood resolutely under her dripping umbrella awaiting a bus.
Snacking to the top: How health foods startup True Elements is charting its growth path
About a decade ago, when Puru Gupta, a former Procter and Gamble executive, had set up an ecommerce website called Healthy World, which majorly sold healthy food options, a minuscule population in the country had become conscious of what they eat.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) is releasing the estimates of Gross Domestic Product (GDP) for the second quarter (July-September) of 2021-22 (Q2 2021-22), both at Constant (2011-12) and Current Prices, along with the corresponding quarterly estimates of expenditure components of the GDP.
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 recent repeal of three Farm laws has left a lot of people somewhat despondent. The frustration was quickly fanned by newspaper reports that now economic reforms would be put on back burner. We feel that it is set back all right but it necessitates a different approach for carrying out reforms from now on. Agriculture, which continues to employ over half of Indians contributes barely 20% to India’s GDP. Without reforms neither can farmers’ income be increased nor the agri-based industrialization could be built. They are interrelated as farmers are producing too much of what is not needed (wheat, sugar cane etc.) and Govt has to keep buying them and store the produce to get wasted. On the other hand, agriculture-based industries cannot have access to the range of agri-produce needed to run them. As opposed to external sector reforms (removal of import restrictions, entry/ exit barriers), internal reforms (indirect taxes, banking, agriculture, power, education, judiciary, police etc) have always proved tricky. But with the right strategy, consultations, and political acumen a headway could be made. GST is a good example. Post repeal of farm laws, the attention may shift to States. That could be incremental progress but might allay fears among farmers that corporates are out to grab their land. In a messy democracy, it is better to enable those States who want to and can take bets on greater reforms paving way for others to follow. This could be a template for other reforms too.
"
Piyush Goyal, Union Minister of Commerce & Industry, has termed the Insolvency and Bankruptcy Code (IBC), 2016 as a “game changer reform” that has been the most successful law in insolvency resolution in the country.
While speaking at the 5th Foundation Day function of the Indian Institute of Insolvency Professionals of ICAI (IIIPI) on Thursday, he hoped the faster Insolvency Resolution enabled by the IBC will eventually pave the way for banks to bring down the ‘Cost of Credit’.
The Winter session of Parliament began today and the Standing Finance Committee has approved the MSME Champions Scheme with a total outlay of INR 273.24 crore.
A ‘Digital MSME’ component has been included for digital empowerment of MSMEs in the country, as part of this Scheme. In addition to this, there are several Technology Centres under the Ministry are also assisting on technological and automation interventions along with training support, said the official release.
The Standing Finance Committee has also approved the International Cooperation Scheme comprising of First Time Exporters and Global Marketing Intelligence System with a total outlay of INR 90 crore.
The State-run Energy Efficiency Services Limited (EESL) in association with the Ministry of Ministry of Micro, Small & Medium Enterprises (MSME), United Nations Industrial Development Organization (UNIDO) and Global Environmental Facility (GEF) will install 35 energy-efficient technologies in MSMEs, as per media reports.
According to a statement by EESL published in LiveMint, the aim of this project is to deploy 35 energy efficient technologies which have maximum possibility of replication and potential to improve the energy productivity of fellow MSMEs units.
The Ministry of Skill Development and Entrepreneurship (MSDE) has announced to equip the street vendors of East Delhi with skills which will make them eligible for e-cart licenses and overall improve the hygiene conditions in food preparation and aesthetics of vending.
This will be a push to formalize the unorganised sector and upskill the street food vendors. It will be implemented under the Recognition of Prior Learning (RPL) component of Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 3.0 with the objective to provide relevant skills to the Street Food Vendors, leading towards better services to consumers, more opportunities to vendors for revenue generation, awareness on regulations and stipulated rules, in return providing better services to the local bodies, said the official release.
During the 9th meeting held by the Empowered Committee of North East Industrial Development Scheme (NEIDS) 2017 under the Chairmanship of Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), registration to 105 new industrial units in the North East have been granted.
Till date, a total of 391 new industrial units with a proposed total investment of INR 2631.19 crore have been granted registration under NEIDS, 2017. With this all applications recommended for registration by the concerned state governments upto 31st October 2021 has been considered by the Empowered committee, said the official release.
The Udyam Portal under the Ministry of Micro Small and Medium Enterprises (MSME) has registered 58 lakh MSMEs so far.
This portal is the only official platform of the central government that is used to register a new MSME or to re-register already registered one. Speaking at 18th edition of the Global MSME Business Summit 2021 organised by the Confederation of Indian Industry, B B Swain, Secretary, Ministry of MSME said that the Udyam Registration Portal has clocked over 58 lakhs registrations, as published in Economic Times.
He also said that new components are being launched this year which includes the development of the National Resource Database System, a global market inclusion system for MSME units.
Union Minister for MSME, Narayan Rane launched the Special Credit Linked Capital Subsidy Scheme (SCLCSS) for services sector on Friday which was the second day of MSME North East Conclave in Guwahati.
The aim of this scheme is to help with requirements related to technology which concern enterprises in the services sector. It also has a provision of 25% capital subsidy for procurement of Plant & Machinery and service equipments through institutional credit to the SC-ST MSEs without any sector specific restrictions on technology upgradation.
MSME Minister Rane also felicitated SC/ST Entrepreneurs of the North-eastern region and encouraged the youth to take up entrepreneurship to become job givers than job seekers.
During the Investment Conclave held on 23rd November at Coimbatore, GHCL Limited, chemical and textile company, has signed a Memorandum of Understanding (MoU) with the government of Tamil Nadu for investing INR 500 crore in the state.
The textile company will set up 40,000 ring spindles in Manaparai, Tiruchirappalli district to produce synthetic and synthetic blended yarn to cater to knitting and weaving segments, as published in Fibre2Fashion.
The Ministry of Micro, Small and Medium Enterprises (MSME) is providing financial aid to Indian Institute of Technology (IIT) Kanpur in promoting the creation of educational toy clusters across the country.
The institute’s technology business incubator -- Foundation for Innovation and Research in Science and Technology (FIRST, IIT Kanpur) -- has partnered with MSME to facilitate the ministry’s design scheme, as published in Telegraph India. On receiving approval from the Project Monitoring and Advisory Committee’s (PMAC), the MSME Development Institute has given a grant to five enterprises from FIRST IIT Kanpur to make prototypes of sustainable educational toys.
The Government of Kerala is organising Machinery Expo 2022 from 23rd to 26th January, 2022 in Ernakulam.
Resurgent Kerala was chosen as the central theme of the program and Responsible and Sustainable Industry – Plastics, while Recycling, E-mobility, Renewable energy etc. was chosen as the focus area. The participating exhibitors from the focus areas shall be given Focus Area Branding on their stalls. The main aim of the expo is to showcase the latest trends in technologies with an emphasis on machine tools, automation technologies, CNC machines & systems, SPMs and other advanced processing and packaging machinery for various sectors, said the release.
Bharat Electronics, aerospace and defence electronics firm owned by the government of India has signed a deal with Dronedek to manufacture smart mailboxes for the American drone delivery platform.
The main purpose of smart mailboxes will be contactless deliveries by unmanned aerial vehicles.
Dan O’Toole, Chief Executive of Dronedek said, “The smart mailboxes will be deployed across Dronedek’s global markets, however we haven’t received any orders for deployment in India as of now.”
This announcement indicates that the Indian government is progressively working on policies to promote drone delivery systems.
Uzbekistan has asked Indian pharmaceutical companies to explore its USD 1.3 billion medical drug market by setting up their manufacturing base and make this industry a key driver of Uzbek economy, said Alisher Temirov, Deputy Minister, Pharmaceutical Industry Development of Uzbekistan during a meeting on ‘Doing Business with Uzbekistan’ organized by the MVIRDC World Trade Center – a trade facilitating body and All India Association of Industries – an industry body.
According to the FISME factor, 40% of MSMEs think that the Haryana law reserving 75% of private sector jobs for locals is anti-industry while 60% can’t say. 
Back in the days of industrial relations (IR), human resources (HR) was generally referred to as personnel management, and HR managers were called personnel managers or officers. However, over time, ‘personnel management’ evolved into ‘human resource management’ and now it has further transformed into people strategy.
I’ve started and run several businesses — seven in total, with three still running. Building a business is hard work, and it involves a lot of trial and error.
More often than not, growing businesses use sales and marketing efforts to drive their revenues. Marketing basically uses advertising and other techniques to bring leads into the business. Your sales team either closes the leads handed to them by the marketing department (inbound sales), or they actively hunt new end-clients down with prospecting efforts (outbound sales).
The textile units in Faridabad and other places of Delhi NCR are facing power cuts which is posing major disruption in production.
Dr. Animesh Saxena- Manging Director Neetee Apparels- a leading garment exporter and President of Federation of Indian Micro and Small & Medium Enterprises (FISME) told KNN about this issue which is hampering the functioning of textile industry.
Last week, while the business community and media were celebrating, and rightly so, the rise of women entrepreneurship in India on the occasion of Women Entrepreneurship Day, a 34-year-old frail woman stood resolutely under her dripping umbrella awaiting a bus.
About a decade ago, when Puru Gupta, a former Procter and Gamble executive, had set up an ecommerce website called Healthy World, which majorly sold healthy food options, a minuscule population in the country had become conscious of what they eat.
“Wise men speak because they have something to say; fools because they have to say something.
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