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  The FISME Factor  


President's Message
Mr Animesh SaxenaThe announcement of quarterly GDP numbers which show a growth of 20% over last years’ numbers, has ensued a debate. The growth figures are definitely encouraging and we should be happy about it. The numbers allude to recovery. At the same time, the euphoria should be tempered by the sombre fact that the growth numbers were based on contraction of economy by 24% during same quarter last year. Yet, keeping in view that the growth figures are for quarter this year-April-June, when Covid was raging like hell, it is no mean achievement and V –shaped recovery is seen clearly. However, the cheer should not gloss over the pain inflicted upon people and businesses – especially small businesses. A very large number of entrepreneurs are trying to resurrect their businesses. Many would fail with little or no recourse. With a dysfunctional Insolvency and Bankruptcy regime and an impractical restructuring mechanism, a very large number of them would face unimaginable hardships. While we celebrate the growth, let’s also remember those who have been left behind and hurt in the Covid-2. An accessible insolvency regime and a liberal approach for their restructuring is needed like never before. FISME continues to push the powers that be to do excatly that. "
Animesh Saxena, President, FISME
Vol VIV, Issue 235: Sept 1, 2021
Business Banter: Lessons from Entrepreneurs
8 Steps to Start a Small Business From Scratch
Macro Metre
Credit growth witnesses sharp rise in MSME, Agri & Retail sectors during July
Foreign Direct Investments jump to 12.1 billion dollars in May, says Commerce Minister FM launches ‘Ubharte Sitaare Fund’ for export-oriented MSMEs
Domestic Digest
PNB organises credit camp for MSMEs Knowledge and News Network (KNN)
ITPO offers 50 per cent rental discount to startups for Security Expo, 7-9 Oct 2021
MSME Ministry approves amended International Cooperation (IC) scheme from 2021-22 to 2025-26
State Scan
Karnataka offers 1500 acres of ready land near Bagepalli to Korean industries Knowledge and News Network (KNN)
1100 plots allotted to MSMEs in YEIDA area: UP govt
Tamil Nadu first to get Cluster Development Fund from SIDBI
Knowledge Store
5 tips for small businesses, MSMEs to use money efficiently and grow faster
...And A Lot More
Business Banter: Lessons from Entrepreneurs

8 Steps to Start a Small Business From Scratch

We do amazing, meaningful things every day, but in small increments. We build a life, a family, a career, a worldview, a legacy — all in bite-sized pieces that are manageable in the moment, yet impactful in the long term. This feeling that the challenge of starting a business is too big is a primary obstacle many entrepreneurs see blocking their road to financial independence. And yet, the basic process of building a business can be as step-by-step as starting your coffee pot in the morning or driving to work.
Writing on the Wall

Economy grows 20.1% in Q1, lags pre-COVID level

India’s Gross Domestic Product (GDP) grew by 20.1% in the first quarter of 2021-22, compared to the 24.4% contraction recorded in the same quarter a year ago, but economic activity remained well-below pre-pandemic levels thanks to the second wave of COVID-19. Gross Value Added (GVA) in the economy during the April to June period rose 18.8%, as per the National Statistical Office (NSO), from a 22.2% dip in the first quarter of 2020-21. GVA from agriculture, forestry and fishing, the only sector to grow amid last year’s national lockdown, picked up pace to grow 4.5% ...

Media Monitor

Macro Metre

Credit growth witnesses sharp rise in MSME, Agri & Retail sectors during July

As the COVID-induced restrictions have eased across the country, the lending to Agriculture, Retail and Micro, Small and Medium Enterprises (MSMEs) gathered pace and witnessed a sharp rise in July 2021 compared to the same month in 2020. According to Reserve Bank of India's (RBI) data on sectoral deployment of bank credit, Credit to agriculture and allied activities continued to perform well, registering an accelerated growth of 12.4 per cent in July 2021 as compared to 5.4 per cent in July 2020.

Foreign Direct Investments jump to 12.1 billion dollars in May, says Commerce Minister

Union Commerce and Industry Minister Piyush Goyal has said that the economy is on a path of revival and India received the highest ever FDI inflow in 2020-21. He was speaking during an interaction with the industry associations to discuss the measures to enhance and increase exports on Monday. ''It surged by 10 per cent to 81.72 billion dollars from 74.39 billion dollars (2019-20) and FDI during May’ 21 is 12.1 billion dollars i.e. 203 per cent higher than May’20 & 123 per cent higher than May’19. From EoDB to Exports and from Startups to Services, India is taking giant leaps in each sector,'' he said.

FM launches ‘Ubharte Sitaare Fund’ for export-oriented MSMEs

Union Finance Minister Nirmala Sitharaman has launched the “Ubharte Sitaare" scheme to help Micro, Small and Medium Enterprises (MSMEs) which could be future champions. Finance minister, in her Budget speech in 2020, had mentioned that MSMEs are important to keep the wheels of the economy moving. MSMEs also create jobs, innovate and they act as risk takers. In the line, India Exim Bank’s Ubharte Sitaare Programme (USP) will identify Indian companies that have the capability to be future champions in the domestic arena while meeting the global demands.

Domestic Digest

PNB organises credit camp for MSMEs

In a bid to create awareness of the various products available for Micro, Small and Medium Enterprises (MSMEs), Punjab National Bank (PNB) organised a credit camp here. According to an official statement, the camp was organised at the MSME Development Institute, Balanagar, on Friday, which was inaugurated by PNB Zonal Manager Hyderabad Sanjeevan Nikhar. At the camp, the bank apprised MSMEs of a plethora of schemes for them.

ITPO offers 50 per cent rental discount to startups for Security Expo, 7-9 Oct 2021

India Trade Promotion Organisation (ITPO) has extended its support to ‘STARTUPS’ in terms of providing 50 percent rental discount to STARTUPs in the 21stedition of the India International Security Expo (IISE). The Expo is to be organized from 7th-9thOctober, 2021 in Hall 5 (GF), IECC Complex at Pragati Maidan, New Delhi. These Startups should be notified by the DPIIT, the Ministry of Commerce and Industry, Government of India, according to an official statement.

MSME Ministry approves amended International Cooperation (IC) scheme from 2021-22 to 2025-26

The ministry of Micro, Small and Medium Enterprises (MSMEs) has approved the continuation of the International Cooperation (IC) Scheme for the next financial cycle 2021-22 to 2025-26. The ministry has revised the guidelines of the IC Scheme which will have will now have three sub-components such as: Market Development Assistance (MDA) - (both Physical and Virtual Mode), Capacity Building of First Time Exporters (CBFTE) and Framework for International Market Intelligence Dissemination (IMID).

CLCS-TUS, Interest Subvention Scheme are no longer in operation: MSME ministry

Credit Linked Capital Subsidy Scheme & Technology Upgradation Scheme (CLCS-TUS) and Interest Subvention Scheme for Incremental Credit to MSMEs are no longer in operation, said MSME Ministry on Tuesday. ''It is informed herewith that both the above mentioned schemes which were being implemented by the Government of India, Ministry of Micro, Small and Medium Enterprises (MSME) are no longer in operation,'' the ministry said in a circular dated August 12, 2021.
State Scan


Karnataka offers 1500 acres of ready land near Bagepalli to Korean industries

Chief Minister of Karnataka Basavaraj Bommai has offered ready industrial land near Bagepalli Area just below the southern border of the Rayalaseema in Andhra Pradesh for establishment of factories by Korean companies. The offer was made during the meeting of CM with Consulate General of the Republic of Korea in Chennai Young-Seup Kwon and Director General of Korea Trade Office, Bengaluru (KOTRA) Dong Kyu Kim recently. The proposed parcel of land is a few kilometers from operations of KIA Motors India- a subsidiary of Kia Motors Korea. Mohan Suresh, Honorary Consul of Rawanda in Bangalore and Former President of Federation of Indian Micro and Small & Medium Enterprises (FISME), informed that Korean companies were contemplating big investments in India. “Karnataka offers an excellent business environment and being the hub of IT, high Technology companies, global R&D centers, houses the largest pool of talent”, he said.

Uttar Pradesh    

1100 plots allotted to MSMEs in YEIDA area: UP govt

The Uttar Pradesh Government has allotted 1100 plots to apparel, toy manufacturers along with Micro, Small and Medium Enterprises (MSMEs) and other industries in the Yamuna Expressway Industrial Development Authority (YEIDA) area, Industrial Development Minister, Satish Mahana said. “Today, I feel very proud to share that during the past 4-4.5 years, Uttar Pradesh has emerged as the most preferred investment destination,” an official statement quoted Mahana as saying while addressing the ASSOCHAM Members in a virtual conference on Thursday. He said that there has been a lot of change and transformation in Uttar Pradesh as far as industrial development is concerned owing to the zero-tolerance policy of the government in terms of law and order.

Tamil Nadu    

Tamil Nadu first to get Cluster Development Fund from SIDBI

Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing and development of Micro, Small and Medium Enterprises (MSMEs) has provided the first approval under SIDBI Cluster Development Fund (SCDF) to Tamil Nadu government. The in-principle approval letter was handed over by Sivasubramanian Ramann, IA&AS, Chairman and Managing Director, SIDBI in the presence of M.K. Stalin, Chief Minister of Tamil Nadu on Thursday. The project specific moderately priced loan assistance under SCDF will be extended by SIDBI to the state government for upgrading various existing MSME clusters and for developing new industrial infrastructural facilities in the state of Tamil Nadu.
FISME’s official Twitter handle
Knowledge and News Network (KNN)
KNN India’s official Twitter handle
Anil Bhardwaj, Secretary General
Your Views

Will 100-lakh cr national infrastructure master plan announced by PM help to grow India at high trajectory?

According to the FISME factor, 100% of MSMEs think that 100-lakh cr national infrastructure master plan announced by PM will help India to grow at high trajectory.
Knowledge Store

HR Heuristics

How to implement a strategic culture change in an organization

Culture is built over the years by the people of the organisation. It starts with the first bunch of employees and it keep shaping up as new members join the gang. What happens when a company decides to implement a strategic culture change for business reasons.

Finance Fundamentals

5 tips for small businesses, MSMEs to use money efficiently and grow faster

MSMEs and small business entrepreneurs who fail often don’t understand cash flow. They fall short of money to get back into business, thereby hindering the growth and scaling-up opportunities. Recently, during the COVID-19 pandemic, many entrepreneurs had to face such tough battles.

Marketing Mantras

Eight Marketing Strategies Every Startup Or Small Business Can Afford

As the founder of a marketing company that helps startups and small businesses, people often ask me, “How can we effectively market and scale with a tight budget?” It can be challenging to decide where to invest your time and limited resources in marketing. Should you invest in the top of the funnel or the bottom?

Policy Polemic

Rise in APIs to affect drug availability during COVID: Infomerics

The steep 50 per cent hike in cost of Active Pharmaceutical Ingredients (APIs) imported from China is pinching the industry hard raising doubts on the availability of drugs and could lead to shortages, particularly of those that are key in COVID therapy, said a report by Infomerics Valuation and Rating Pvt Ltd.

SME Special

How this Gurugram-based company is solving plastic waste problems with its bio-polymers

India generates about 9.46 million tonnes of plastic waste every year, of which 40 percent remains uncollected, according to a study by Un-Plastic, a collective co-founded by the Confederation of Indian Industry (CII), United Nations Environment Programme (UNEP), and WWF-India.

Success Story

Starting with SMS, how Netcore today manages close to 50 pc of Asia’s email traffic

In 1997, Rajesh Jain founded Netcore with the intent to revolutionise the way marketing and product teams engage with consumers. The team realised that with increasing digitisation, the role of CMOs and growth managers has become key to every organisation’s success.


The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) has released all India Consumer Price Index (CPI) on Base 2012=100 and correspondingConsumer Food Price Index (CFPI) for Rural (R), Urban (U) and Combined (C) for the month of July 2021 (Provisional)

Quotable Quotes

“ The greatest glory in living lies not in never falling, but in rising every time we fall. ”
– - Nelson Mandela- Antiapartheid Activist, Nobel Peace Laureate and Former President of South Africa
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 16th August to 31st August 2021
Reader Reactions

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Editorial Team:
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Asstt. Editor: Kalpana Sharma
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