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President's Message
The disruption in trade caused by Covid-19 is enormous. The GVCs are in a quandary as most of them are worried about their over dependence on China as a sole supplier. But it would take years for alternate sources of supply to be established. India is trying hard to see how can it play the dice to attract some of these GVCs to its shores. But another development that has become mainstream from being a peripheral trade route is e-commerce. Most MSMEs, barring a few dealing in consumer/ fashion goods, had viewed e-commerce from distance. The pandemic and the ensuing lockdowns exposed MSMEs to new ways how e-commerce and digital world could be integrated with their businesses. Particularly, the role of e-commerce in exports is set to rise manifold. At present our systems at Customs are not fully geared to process millions of small consignment everyday, but as a country we will have to invest in systems and training to be at top of the game to take advantage of the opportunity. In a recent FISME webinar organized to explore ways to augment exports from MSMEs, e-commerce came on top of the suggestions. That seems the way forward.
"
The Federation of Indian Micro and Small and Medium Enterprises (FISME) and a member of the National MSME Board, conducted a webinar on ‘Boosting exports by empowering MSMEs’. The panel was moderated by Mr. Anil Bhardwaj, Secretary General, FISME and saw participation from Mr. Piyush Srivastava, Additional Development Commissioner, Ministry of MSME, Dr. Arpita Mukherjee, Professor, Indian Council for Research on International Economic Relations (ICRIER), Ms. Sabina Dewan, President and Executive Director, JustJobs Network and Ms. Nirupama Soundarajan - Head of Research at Pahle India Foundation.
As entrepreneurs, we’re passionate, volatile, growth-hungry individuals. We’ve broken the norm, escaped the rat race, shed our inhibitions, and eagerly look forward to a future of exceptional success.
But while our fire and risk-taking mindset were key in pushing us to take that first step towards building our brand, they’re not enough to keep us going when things get tough.
India Total Exports dropped 0.8 % YoY in Dec 2020, compared with a decrease of 8.7 % YoY in the previous month. India Total Exports Growth data is updated monthly, available from Apr 1991 to Dec 2020, with an averaged rate of 9.5 %. The data reached an all-time high of 63.0 % in Apr 2008 and a record low of -61.0 % in Apr 2020. CEIC calculates Total Exports Growth from monthly Total Exports. The Ministry of Commerce and Industry provides Total Exports, FOB in USD. View India's Total Exports Growth from Apr 1991 to Dec 2020 in the chart:
Foreign direct investment (FDI) equity inflows into India increased by 21 per cent to 35.33 billion dollars during April-October period of the current financial year, said the Ministry of Commerce and Industry in its Year End review report.
As per the report, in the year-ago period, FDI equity inflows stood at USD 29.31 billion. 'During the first seven months of the current fiscal, total FDI (including reinvested earnings) increased 11 per cent to USD 46.82 billion from USD 42.06 billion in April-October 2019,'' it added.
The total transaction value on Government e Marketplace (GeM) portal has crossed Rs 74,552 crore as on December 30th, 2020, the Ministry of Commerce and Industry in its Year End review.
''There are 17.6 lakh listed products, 9 lakh sellers and service providers and 11,543 product categories on GeM promoting transparent public procurement while giving a fair opportunity and level playing field to vendors,'' the Ministry added.
The Central government has lifted the ban on the exports of onions of all varieties, starting January 1 next year.
Earlier, the Centre had imposed the said ban in September this year owing to a hike in prices, which triggered concerns regarding a supply crunch.
"The export of all varieties of onions... has been made free with effect from January 1, 2021," said the Directorate General of Foreign Trade (DGFT) in a notification on Monday.
The government has extended the deadline to file income tax return (ITR) for FY 2019-20 from the current deadline of December 31, 2020, to January 10, 2021.
As per the press release dated December 30, 2020, the extension of the deadline is for those individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms, as applicable.
This is the third time that the government has extended the deadline to file a tax return - first from the normal deadline of July 31 to November 30, 2020, and then to December 31, 2020.
All micro-enterprises set up under PMEGP will be geo-tagged facilitating easy location and monitoring of units, said the Union Ministry of Micro, Small and Medium Enterprises (MSME).
According to a year-end review, the Ministry also informed that a geo-tagging portal -- "http://geotag.kvic.gov.in/" has been prepared and is being put into operation. The Ministry further said that about 80 per cent of the units assisted are in rural areas and about 50 per cent units are owned by SC, ST and women categories.
In the last more than one month due to the ongoing farmers movement in Delhi and adjoining states Uttar Pradesh, Haryana, Punjab and Rajasthan has caused a business loss of about Rs 27,000 crores-said the Confederation of All India Traders (CAIT) on Friday.
The traders' body further said that, however, the combined efforts of CAIT and All India Transport Welfare Association (ATWA), continued the supply of essential commodities uninterruptedly and there will be no shortage of essential commodities.
The Micro, Small and Medium Enterprises (MSME) companies who have the capacity and capability to cater to the defence sector can show their performance by participating in the upcoming defence industry related expo-empowering MSMEs to be held here from March 19-21.
Reportedly, more than 400 MSME units are expected to participate in the expo which aims to connect the Indian MSME sector companies with the defence sector.
The Uttar Pradesh (UP) government has given loans worth over Rs 2,12,454 crore to Micro, Small and Medium Enterprises (MSME) sector in the last three-and-a-half years compared to previous government in five years, said additional chief secretary, MSME, Navneet Sehgal.
"Uttar Pradesh is at the second position in the country in ease of doing business. Even during the coronavirus pandemic, the Chief Minister distributed loans to industries by holding mega loan fairs four times.
In a bid to ensure clean energy, the Gujarat government on Tuesday announced a new solar policy which allows residential and Micro, Small and Medium Enterprises (MSME) consumers to sell the surplus power generated after meeting their consumption needs at a tariff of Rs 2.25 per unit.
The policy also offers a slew of incentives such as no ceiling on capacity to be installed and allowing consumers to lease their roofs and premises for setting up plants.
Small Industries Development Bank of India (SIDBI) has inked a memorandum of understanding (MoU) with the Assam government to develop the Micro, Small and Medium Enterprises (MSME) ecosystem in the State.
The MoU was signed by the commissioner and secretary of industries and commerce department, K K Dwivedi and SIDBI general manager RK Singh in the presence of minister Chandra Mohan Patowary.
In a bid to set up to Micro, Small and Medium Enterprises (MSME) technology park here, the MSME ministry has identified 14.6 acres at Arasur village in Sulur block said R Vijayakumar, assistant director in-charge of the MSME Development Institute in Coimbatore.
“It will have the latest equipment that most of the MSMEs could not afford. The units can make use of the equipment, which will help them meet international competition by improving product quality.
In the backdrop of the kisan andolan (farmers protest), India and United Arab Emirates (UAE) have signed an ambitious agreement through which UAE will invest 7 billion dollars in a food processing complex in India.
As per the Gulf News, Eight food processing units to be set up in Madhya Pradesh (MP) which will purchase food grains, fruits and vegetables directly from 22 lakh farmers in Madhya Pradesh (MP), Uttar Pradesh (UP) and Gujarat. The high end, value added products will be exported to the UAE and other Middle East countries through an exclusive food corridor.
Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution Piyush Goyal assured Bangladesh complete cooperation from India's side in ensuring barrier-free trade between the two countries on Tuesday.
While addressing India-Bangladesh Digital Conference on Agriculture Sector, he said that we have offered duty-free market access to Bangladesh in many products, including, agri-exports.
How Signify lit up employee experience in a dark 2020
Open channels of communication, addressing grievances in real-time, easy access to leadership and taking the company’s extended network into consideration is how Signify enhanced employee experience in this year of working remotely and virtually.
6 account/finance management tips for solopreneurs
Good financial hygiene is a must for solopreneurs as it instils in them a discipline to keep personal and business expenses separate, helps in proper bookkeeping, payment of taxes and setting aside money for contingencies. Clap Icon. Managing a business can be a tough task, especially if you are doing everything alone. And yet, there is a certain satisfaction and pride that comes with being a 'solopreneur,’ one who takes all the responsibility of a business on his shoulders.
Marketing might not appear to be the most pressing thing to work on, especially when you're in an early-stage startup, trying to build and define your product.
Contrary to common belief, however, marketing is affordable and highly scalable. There are plenty of examples of good marketing regardless of the size of the business, whether you have a modest media budget or thousands of dollars to spend.
AIFI urges centre to ban export of steel & Iron ore
The Association of Indian Forging Industry (AIFI) has urged the Centre to ban exports of steel and iron ore due to high prices which are hampering the growth of India's forging industry.
“Steel prices have increased by 25 to 30 per cent in the last three months, putting the forging industry at serious risk, particularly when we are still recovering from COVID-inflicted business losses and the resultant pressure on cash flow, and cash reserves.
This agritech startup aims to make trading of commodities simple and transparent
While the atmosphere in New Delhi remains charged as agitating farmers, concerned over prices, protest the new agriculture reform laws, Origo Commodities, over the last ten years, has ensured that every participant in this ecosystem gets a fair price for the produce of the land. In the vast agricultural ecosystem – starting from the farmland to putting the food onto your plate, the two very critical elements in this entire cycle is the supply chain infrastructure and financing.
Ayodhya-based CHUK is turning sugarcane waste into sustainable cutlery for Indian Railways, Google, Amazon
Plastic waste is a huge problem for the environment. India alone generates around 9.46 million tonnes of plastic waste annually, according to a recent study by Un-Plastic Collective (UPC), of which 40 percent remains uncollected and 43 percent is used for packaging, mostly single-use plastic. To help improve the situation, Ayodhya-based 40-year-old paper and packaging company Yash Pakka launched a brand called CHUK in 2017. The startup offers a range of compostable packaging tableware that is safe to eat from and is 100 percent biodegradable.
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
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 disruption in trade caused by Covid-19 is enormous. The GVCs are in a quandary as most of them are worried about their over dependence on China as a sole supplier. But it would take years for alternate sources of supply to be established. India is trying hard to see how can it play the dice to attract some of these GVCs to its shores. But another development that has become mainstream from being a peripheral trade route is e-commerce. Most MSMEs, barring a few dealing in consumer/ fashion goods, had viewed e-commerce from distance. The pandemic and the ensuing lockdowns exposed MSMEs to new ways how e-commerce and digital world could be integrated with their businesses. Particularly, the role of e-commerce in exports is set to rise manifold. At present our systems at Customs are not fully geared to process millions of small consignment everyday, but as a country we will have to invest in systems and training to be at top of the game to take advantage of the opportunity. In a recent FISME webinar organized to explore ways to augment exports from MSMEs, e-commerce came on top of the suggestions. That seems the way forward.
"
The Federation of Indian Micro and Small and Medium Enterprises (FISME) and a member of the National MSME Board, conducted a webinar on ‘Boosting exports by empowering MSMEs’. The panel was moderated by Mr. Anil Bhardwaj, Secretary General, FISME and saw participation from Mr. Piyush Srivastava, Additional Development Commissioner, Ministry of MSME, Dr. Arpita Mukherjee, Professor, Indian Council for Research on International Economic Relations (ICRIER), Ms. Sabina Dewan, President and Executive Director, JustJobs Network and Ms. Nirupama Soundarajan - Head of Research at Pahle India Foundation.
As entrepreneurs, we’re passionate, volatile, growth-hungry individuals. We’ve broken the norm, escaped the rat race, shed our inhibitions, and eagerly look forward to a future of exceptional success.
But while our fire and risk-taking mindset were key in pushing us to take that first step towards building our brand, they’re not enough to keep us going when things get tough.
Foreign direct investment (FDI) equity inflows into India increased by 21 per cent to 35.33 billion dollars during April-October period of the current financial year, said the Ministry of Commerce and Industry in its Year End review report.
As per the report, in the year-ago period, FDI equity inflows stood at USD 29.31 billion. 'During the first seven months of the current fiscal, total FDI (including reinvested earnings) increased 11 per cent to USD 46.82 billion from USD 42.06 billion in April-October 2019,'' it added.
The total transaction value on Government e Marketplace (GeM) portal has crossed Rs 74,552 crore as on December 30th, 2020, the Ministry of Commerce and Industry in its Year End review.
''There are 17.6 lakh listed products, 9 lakh sellers and service providers and 11,543 product categories on GeM promoting transparent public procurement while giving a fair opportunity and level playing field to vendors,'' the Ministry added.
The Central government has lifted the ban on the exports of onions of all varieties, starting January 1 next year.
Earlier, the Centre had imposed the said ban in September this year owing to a hike in prices, which triggered concerns regarding a supply crunch.
"The export of all varieties of onions... has been made free with effect from January 1, 2021," said the Directorate General of Foreign Trade (DGFT) in a notification on Monday.
The government has extended the deadline to file income tax return (ITR) for FY 2019-20 from the current deadline of December 31, 2020, to January 10, 2021.
As per the press release dated December 30, 2020, the extension of the deadline is for those individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms, as applicable.
This is the third time that the government has extended the deadline to file a tax return - first from the normal deadline of July 31 to November 30, 2020, and then to December 31, 2020.
All micro-enterprises set up under PMEGP will be geo-tagged facilitating easy location and monitoring of units, said the Union Ministry of Micro, Small and Medium Enterprises (MSME).
According to a year-end review, the Ministry also informed that a geo-tagging portal -- "http://geotag.kvic.gov.in/" has been prepared and is being put into operation. The Ministry further said that about 80 per cent of the units assisted are in rural areas and about 50 per cent units are owned by SC, ST and women categories.
In the last more than one month due to the ongoing farmers movement in Delhi and adjoining states Uttar Pradesh, Haryana, Punjab and Rajasthan has caused a business loss of about Rs 27,000 crores-said the Confederation of All India Traders (CAIT) on Friday.
The traders' body further said that, however, the combined efforts of CAIT and All India Transport Welfare Association (ATWA), continued the supply of essential commodities uninterruptedly and there will be no shortage of essential commodities.
The Micro, Small and Medium Enterprises (MSME) companies who have the capacity and capability to cater to the defence sector can show their performance by participating in the upcoming defence industry related expo-empowering MSMEs to be held here from March 19-21.
Reportedly, more than 400 MSME units are expected to participate in the expo which aims to connect the Indian MSME sector companies with the defence sector.
The Uttar Pradesh (UP) government has given loans worth over Rs 2,12,454 crore to Micro, Small and Medium Enterprises (MSME) sector in the last three-and-a-half years compared to previous government in five years, said additional chief secretary, MSME, Navneet Sehgal.
"Uttar Pradesh is at the second position in the country in ease of doing business. Even during the coronavirus pandemic, the Chief Minister distributed loans to industries by holding mega loan fairs four times.
In a bid to ensure clean energy, the Gujarat government on Tuesday announced a new solar policy which allows residential and Micro, Small and Medium Enterprises (MSME) consumers to sell the surplus power generated after meeting their consumption needs at a tariff of Rs 2.25 per unit.
The policy also offers a slew of incentives such as no ceiling on capacity to be installed and allowing consumers to lease their roofs and premises for setting up plants.
Small Industries Development Bank of India (SIDBI) has inked a memorandum of understanding (MoU) with the Assam government to develop the Micro, Small and Medium Enterprises (MSME) ecosystem in the State.
The MoU was signed by the commissioner and secretary of industries and commerce department, K K Dwivedi and SIDBI general manager RK Singh in the presence of minister Chandra Mohan Patowary.
In a bid to set up to Micro, Small and Medium Enterprises (MSME) technology park here, the MSME ministry has identified 14.6 acres at Arasur village in Sulur block said R Vijayakumar, assistant director in-charge of the MSME Development Institute in Coimbatore.
“It will have the latest equipment that most of the MSMEs could not afford. The units can make use of the equipment, which will help them meet international competition by improving product quality.
In the backdrop of the kisan andolan (farmers protest), India and United Arab Emirates (UAE) have signed an ambitious agreement through which UAE will invest 7 billion dollars in a food processing complex in India.
As per the Gulf News, Eight food processing units to be set up in Madhya Pradesh (MP) which will purchase food grains, fruits and vegetables directly from 22 lakh farmers in Madhya Pradesh (MP), Uttar Pradesh (UP) and Gujarat. The high end, value added products will be exported to the UAE and other Middle East countries through an exclusive food corridor.
Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution Piyush Goyal assured Bangladesh complete cooperation from India's side in ensuring barrier-free trade between the two countries on Tuesday.
While addressing India-Bangladesh Digital Conference on Agriculture Sector, he said that we have offered duty-free market access to Bangladesh in many products, including, agri-exports.
According to FISME factor 100 percent MSMEs think that steep hike in raw material prices has hit MSMEs. 
Open channels of communication, addressing grievances in real-time, easy access to leadership and taking the company’s extended network into consideration is how Signify enhanced employee experience in this year of working remotely and virtually.
Good financial hygiene is a must for solopreneurs as it instils in them a discipline to keep personal and business expenses separate, helps in proper bookkeeping, payment of taxes and setting aside money for contingencies. Clap Icon. Managing a business can be a tough task, especially if you are doing everything alone. And yet, there is a certain satisfaction and pride that comes with being a 'solopreneur,’ one who takes all the responsibility of a business on his shoulders.
Marketing might not appear to be the most pressing thing to work on, especially when you're in an early-stage startup, trying to build and define your product.
Contrary to common belief, however, marketing is affordable and highly scalable. There are plenty of examples of good marketing regardless of the size of the business, whether you have a modest media budget or thousands of dollars to spend.
The Association of Indian Forging Industry (AIFI) has urged the Centre to ban exports of steel and iron ore due to high prices which are hampering the growth of India's forging industry.
“Steel prices have increased by 25 to 30 per cent in the last three months, putting the forging industry at serious risk, particularly when we are still recovering from COVID-inflicted business losses and the resultant pressure on cash flow, and cash reserves.
While the atmosphere in New Delhi remains charged as agitating farmers, concerned over prices, protest the new agriculture reform laws, Origo Commodities, over the last ten years, has ensured that every participant in this ecosystem gets a fair price for the produce of the land. In the vast agricultural ecosystem – starting from the farmland to putting the food onto your plate, the two very critical elements in this entire cycle is the supply chain infrastructure and financing.
Plastic waste is a huge problem for the environment. India alone generates around 9.46 million tonnes of plastic waste annually, according to a recent study by Un-Plastic Collective (UPC), of which 40 percent remains uncollected and 43 percent is used for packaging, mostly single-use plastic. To help improve the situation, Ayodhya-based 40-year-old paper and packaging company Yash Pakka launched a brand called CHUK in 2017. The startup offers a range of compostable packaging tableware that is safe to eat from and is 100 percent biodegradable.
“ If you are working on something that you really care about, you don’t have to be pushed. The vision pulls you.
”
