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

 

  The FISME Factor  

 

President's Message
Mr Animesh SaxenaThe continued spate of lockdowns across the States, has thrown businesses in a quandary. Life is to be saved at any cost at the same time the economy also needs to be kept going. But the lockdowns have disrupted businesses, halted supply chains and slowed down velocity of money. Payment cycles are longer and uncertain but statutory dues and fixed expenses mount. Result: almost half of MSMEs are facing financial distress in varying degrees. More than the additional money, they need amnesty to tide over the crisis without attracting prosecution against defaults whether of statutory dues or repayment to banks. The RBI restructuring 2.0, announced on 5th May 2021, does not address the problem. Neither does it provide the flexibility to banks to save MSMEs from falling into SMA trap nor does it cover the MSME sector comprehensively. After our raising the issue of the need of flexibility, the Bankers themselves demanded the same from the RBI. It is a mystery what is holding RBI back. It’s time Govt and RBI cleared the decks allowing timely assistance needed by MSMEs. "
Animesh Saxena, President, FISME
Vol VIV, Issue 227: May 15, 2021
Business Banter: Lessons from Entrepreneurs
Your Business Might Not Actually Be Profitable. Here's How to Fix It.
Macro Metre
India’s trade performance continues to be impressive in April-2021
Centre relaxes procurement rules for containment of COVID-19 pandemic
Revenue Deficit Grant of Rs 9,871 crore released to 17 states
Domestic Digest
CBIC announces ‘Special Refund and Drawback Disposal Drive’ to provide relief to MSMEs Knowledge and News Network (KNN)
CSIR-CMERI transfer 125 different technologies to MSMEs
RBI announces a slew of measures for MSMEs
State Scan
UP govt to allow operation of transport delivery offices for smoother functioning of MSMEs amid lockdown Knowledge and News Network (KNN)
MSMEs in J&K demand to extend Power Amnesty Scheme till March 31st, 2022
Tamil Nadu govt announces slew of measures to help MSMEs amid COVID-19 pandemic
Knowledge Store
This healthtech startup is providing COVID vaccines for free in Bengaluru
...And A Lot More
Business Banter: Lessons from Entrepreneurs

Your Business Might Not Actually Be Profitable. Here's How to Fix It.

Launching and running a business can be overwhelming. It's easy to get caught up in day-to-day tasks — not to mention, many people start their own business without formal financial training. On the surface, it might look like you're making plenty of sales, but you might not necessarily be profitable. Here's how to know if your business is profitable and what to do if it's not. The importance of profitability and how to calculate it Profitability is the amount of money that a business earns — it’s the yield or financial gain. If a business isn’t profitable, it’s losing money. A simple profitability formula looks like this: Revenue - Expenses = Profit
Writing on the Wall

FISME: Policy response from RBI inadequate, MSMEs fear turning into NPAs

In May 5, in an unscheduled press briefing, Reserve Bank of India (RBI) Governor Shaktikanta Das announced additional relief measures in light of the second wave. The announcements included loan restructuring facilities for individuals, small businesses and Micro, Small & Medium Enterprises (MSMEs). But, industry voices believe that a lot more needs to be done to save these businesses which are on the verge of collapse as an aftermath of a complete lockdown in 2020 when the pandemic began, and now a much harsher second wave along with fragmented lockdowns.

Media Monitor

Macro Metre

India’s trade performance continues to be impressive in April-2021

India’s export performance continues to be impressive in April 2021 with merchandise exports accelerating by an impressive 195.72 per cent over April 2020 levels and 17.62 per cent over the April 2019 levels. According to an official statement, merchandise exports, excluding POL and Gems & Jewellery, have increased by 160.24 per cent in April 2021 over the same period of 2020-21 and by 20.47 per cent over the same period of 2019-20.

Centre relaxes procurement rules for containment of COVID-19 pandemic

The Government of India has exempted the public procurement of supplies required for containment of COVID-19 global pandemic from the applicability of Public Procurement (Preference to Make in India) PPPMI Order, 2017. As per the order issued by Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry said that the aforesaid exemption shall be applicable till 30.09.2021.

Revenue Deficit Grant of Rs 9,871 crore released to 17 states

The Department of Expenditure, Ministry of Finance has released the 2nd monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 9,871 crore for the year 2021-22 to 17 states. According to a statement on Thursday, with the release of 2nd instalment, a total amount of Rs 19,742 crore has been released in the first two months of the current financial year as Post Devolution Revenue Deficit Grant to the states.

Domestic Digest

CBIC announces ‘Special Refund and Drawback Disposal Drive’ to provide relief to MSMEs

In a bid to provide immediate relief to the business entities, especially MSMEs, the Central board of Indirect Taxes and Customs (CBIC) has launched a special drive to facilitate disposal of all such pending claims. This Special Drive named ‘Special Refund and Drawback Disposal Drive’, shall be in place from 15th May 2021 to 31st May 2021. The CBIC directed the Principal Chief Commissioners/ Chief Commissioners to monitor the performance on this front closely on a daily basis and, wherever required, suitably guide the officers concerned to maximize the disposal.

CSIR-CMERI transfer 125 different technologies to MSMEs

CSIR-CMERI in the last five years has transferred 125 different technologies to the MSMEs for empowering the sector at large and setting up specialised manufacturing hubs to improve the technical capabilities of the National Industry Base and Human Resource Profile, said Prof. Harish Hirani, Director, CSIR-CMERI. He said this addressing a webinar which was organised by MSME-DI, Thrissur entitled ‘Oxygen Enrichment Technology & Latest Credit Facilities from SIDBI to MSMEs’ on the occasion of National Technology Day- 2021 on Tuesday.

RBI announces a slew of measures for MSMEs

The Governor of the Reserve Bank of India (RBI) Shaktikanta Das issued a statement on the state of economy and announced a series of measures for different segments of borrowers including Micro and Small and Medium enterprises (MSMEs). Responding to the need for orderly resolution of stressed assets, RBI has proposed a ‘Resolution Framework 2.0 for COVID Related Stressed Assets of Individuals, Small Businesses and MSMEs’.

DPIIT launches portal for lodging grievances for alleged violation in procurement under Make-in-India

The Department for Promotion of Industry and Internal Trade (DPIIT) has launched an online portal to enable suppliers/ bidders participating in government procurement to file complaints for alleged violation of the Public Procurement (Preference to Make in India) Order, 2017. “DPIIT has launched an online portal to enable entities like suppliers/bidders participating in government procurement to lodge grievances for alleged violation of the PPP-MII Order, 2017,” DPIIT said.
State Scan

Uttar Pradesh    

UP govt to allow operation of transport delivery offices for smoother functioning of MSMEs amid lockdown

Uttar Pradesh MSME minister Sidharth Nath Singh has said the government will allow operation of Transport Delivery Offices and consumables required for the maintenance of plant and machinery so that the industries can run without any hindrance amid lockdown or curfew. The minister was speaking at an online meeting on Wednesday, which was organized under the chairmanship of Satish Mahana, Minister of Industrial Development, Government of Uttar Pradesh. The main objective of the meeting was to discuss the current state of industries during COVID Pandemic.

Jammu    

MSMEs in J&K demand to extend Power Amnesty Scheme till March 31st, 2022

Micro, Small and Medium Enterprises (MSMEs) have urged Jammu and Kashmir (J&K), Lieutenant Governor Manoj Sinha, to extend the Power Amnesty Scheme. In this regard, Lalit Mahajan, Chairman, Federation of Industries (FOIJ), Jammu drew Governor's and Rohit Kansal (IAS), Principal Secretary, Power Development Department attention towards the industrial sector of J&K, who is still suffering due to ongoing COVID-19 situation since March 2020.

Tamil Nadu    

Tamil Nadu govt announces slew of measures to help MSMEs amid COVID-19 pandemic

Tamil Nadu Chief Minister MK Stalin has announced a slew of measures to help Micro, Small and Medium Enterprises (MSMEs) to survive COVID-19 induced lockdown in the state. Reportedly, the new state Chief Minister Stalin allocated Rs 280 crore towards Investment Subsidy for MSMEs during the current financial year. Of Rs 280, Rs 168 crore which is 60 per cent will be released immediately to all eligible MSME sector that are yet to get capital subsidy.
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

Do you think that government need to review NPA norms for MSMEs?

According to the FISME factor, 100% of MSMEs think that government need to review NPA norms for MSMEs.
Knowledge Store

HR Heuristics

Role of Human Resource Management in Micro, Small and Medium Enterprises (MSME) in India

Today, Human Resource Management (HRM) functions, practices and actions are increasingly becoming imperative, considering the increase of the knowledge based economy. Human resources in any venture, whether small or medium constitute a vital area of study. Careful human resources management creates good opportunities to certify efficiency in the production process of goods and services that assurance a satisfactory level of living in society.

Finance Fundamentals

5 Tips to Stay Focused on Your Financial Goals in 2021

Having goals and an overarching plan is one of the easiest ways to control your finances and reduce stress. Use these tips to identify your big and small financial goals and stay focused on achieving them in 2021.

Marketing Mantras

The 5 Best Digital Marketing Strategies to Empower Your Business

Digital marketing is cost-effective and easily measured. With analytics, you can see near real-time results. You can also employ A/B testing and experiment until you find what works best for your particular business. Digital marketing allows you to move more rapidly than ever before. Plus, you’re able to forge more personal relationships with potential customers.

Policy Polemic

Lockdowns dash last hopes of Jewellery traders of sales on Akshya Tritiya & Eid

The Confederation of All India Traders (CAIT) has said that jewellery traders will again suffer loss on Akshya Tritiya and Eid as they see no business on these occasions due to COVID pandemic.

SME Special

This healthtech startup is providing COVID vaccines for free in Bengaluru

The coronavirus pandemic has wreaked havoc on our lives. While the war against COVID-19 is far from over, vaccines are proving to be a sliver of hope in these difficult times.

Success Story

These students from Indore are building low-cost trendy furniture using plastic waste

Indore-based startup Plament hopes to reduce the environmental impact of plastic waste by producing eco-friendly, attractive, and useful products from it. Plastic is well-known for posing significant environmental and health risks and yet we cannot seem to stop using it. According to a report by Central Pollution Control Board (CPCB), India generates over 3.3 million metric tonnes of plastic waste each year.

Stockpile

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

Quotable Quotes

“ Perfection is not attainable, but if we chase perfection we can catch excellence. ”
– - Vincent Thomas Lombardi - American football coach
 
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

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  
Video & Photography:  Subhan Khan

 

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