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Farewell Message
Dear friends,
Time flies. As my extended tenure concludes, I realize how much has happened in fast track mode during last months. The period coincided with the biggest challenge of last hundred years – Covid-19. It has shaken all human belief systems and put to test all institutions from governments to hospitals to businesses. I have not attended as many meetings with senior most Govt functionaries during my entire career in business associations as I did during Covid induced lockdowns. Nor I have seen as much traction on ground of what is decided during these meetings. I have been witness to the best and the worst of actions of governments and industry. Looking back I draw three lessons from my experience as President of FISME. Firstly, the Covid-19 has had indelible impact on global supply chains and the monopoly of China as ‘the’ factory of the world is broken. There are many contenders now and India certainly is among the top three or four destinations. Secondly, during the time when the world is reorienting its gaze to India as investment destination, Indian politicians are busy in shortsighted expediencies of regionalism and parochialism. For instance, demanding and granting job quotas for their State. Most of our ills that shackle businesses are self-inflicted either in the hands of politicians or a few large business houses. Thirdly, businesses in general and MSMEs in particular are too narrowly focused on short term goals. They invest neither individually nor collectively for issues that shape their future be it in the domain of policies, trade agreements or technology. Industry associations will have to be reimagined if India wants to claim a pole position in manufacturing. And, I feel with conviction, before we give sermons to politicians and governing institutions we need to work towards putting our house in order. Finally, I wish my successor young entrepreneur from Gujarat Shri Prashant Patel all success. He can fully count on the unflinching support of Central Executive Committee including me. Jai Hind.
"
This legendary British billionaire seemed to grasp from the first that businesses are not all about ideas, but about making ideas happen. You’ve probably heard the saying, “Success is 90% attitude and 10% aptitude,” and I’ve found that this is indelibly true — that the proper mindset is a huge factor in achieving goals. And when it comes to starting your own business, it’s especially important....
Booming global demand, especially on the back of big fiscal spending in advanced economies, has given a boost to Indian exports. By 21 March, India had exported goods worth $400 billion this financial year, reaching the landmark for the first time, and clocking 37% growth over exports of $291 billion in FY21. The government is understandably thrilled at the development.
The Union Cabinet, chaired by Prime Minister Narendra Modi, today approved a Rs 6,062.45 crore program, assisted by the World Bank, for improving the performance of micro, small and medium enterprises (MSMEs).
The program, Raising and Accelerating MSME Performance (RAMP), is a World Bank assisted central sector scheme which will support various COVID-19 pandemic related resilience and recovery interventions of the Ministry of Micro, Small and Medium Enterprises. The scheme would commence in the financial year 2022-23.
The Union Budget FY22-23 is a roadmap created by the government to aid MSMEs with the extension of ECLGS, upgradation of CGTMSE and implementation RAMP programme, said Finance Minister Nirmala Sitharaman in a written reply to the Rajya Sabha.
She emphasised on the economy focusses of the government which is the macro-level growth with all-inclusive welfare at the micro-level. Promoting digital economy and fintech, technology-enabled development, energy transition and climate action are some of the main elements to foster growth, FM Sitharaman, added.
On attaining India’s USD 400 billion exports target, Prime Minister Narendra Modi congratulated the farmers, MSMEs, exporters and manufacturers.
He expressed his thoughts on Twitter stating, “India set an ambitious target of USD 400 billion of goods exports & achieves this target for the first time ever. I congratulate our farmers, weavers, MSMEs, manufacturers, exporters for this success."
“This is a key milestone in our Aatmanirbhar Bharat journey,” said PM Modi.
The Ministry of MSME has invited applications for National MSME Awards for the period 2021-22 to 2025-26 and has set 20th April 2022 as the last date for submission.
The operational guidelines pertaining to National MSME Awards Scheme was released for continuation during the period of 15th Finance Commission (2021-22 to 2025-26). There are a total 21 awards belonging to the general category out of which 12 awards are for manufacturing entrepreneurship, 9 awards for service entrepreneurship and in all of these awards rewards ranging to Rs 1 to Rs 3 lakh will be presented to the winners.
The government has approved applications of as many as 13 Micro, Small and Medium Enterprises (MSMEs) to domestically manufacture bulk drugs under the Production Linked Incentive (PLI) scheme fr0m total 33 companies.
On Tuesday, Minister of State for Chemicals and Fertilisers Bhagwanth Khuba informed the Rajya Sabha that a total 239 number of applications were received by the central government and 49 application have been approved till now which are fr0m 33 companies.
The Ministry of Commerce & Industry will be accepting applications for White Goods (ACs and LED Lights) under the PLI scheme till 25th April, 2022.
The application window was reopened on 10th March for 45 days to give second chance to prospective investors to take benefits of the scheme. In April 2021, the union cabinet had approved the PLI Scheme for White Goods for manufacture of components and sub-assemblies of Air Conditioners (ACs) and LED Lights promoting the vision of Atmanirbhar Bharat.
The textile sector in India will carry forward the growth it has made in Financial Year (FY) 2021-22 to FY23 and will recover from the lows hit during the onset of the pandemic.
The CRISIL SME Tracker has said that there has been an improvement in the demand for textile products as economic recovery is felt internationally as well. Indian exports has benefitted due to the US ban on China’s Xinjiang cotton and are likely to continue growing in the medium term, while impact of the Russia-Ukraine crisis remains a monitorable though, said the analysis by CRISIL.
The Madhya Pradesh government is planning to remove the criteria of turnover and experience in tenders upto Rs 1 crore for startups under its upcoming Startup Policy for 2022.
Financial assistance of Rs 5 lakh will be provided to incubators, said MSME operator Vishesh Gadhpale who gave this information in presence of Anurag Jain, Secretary, DPIIT at a meeting organized at B-Nest Center in Bhopal Smart City on Thursday.
National Small Industries Corporation (NSIC) and Tamil Nadu Industrial Investment (TIIC), signed a Memorandum of Understanding today in Chennai.
The MoU was signed to cooperate for support mechanisms for MSMEs in the State of Tamilnadu for the defence corridor proposal in facilitating raw materials, finances, e-commerce, and other areas. TIIC provides financial assistance for purchase of land, machinery and construction of buildings. The purpose could be for setting up new units / expansion / modernization / diversification of existing industries. Assistance is extended to both manufacturing and eligible service sector industries.
The Central Tool Room, Ludhiana has signed an agreement with Dr B R Ambedkar National Institute of Technology (NIT) Jalandhar to help MSMEs solve problems related to skilling, industry and enable research for products, process and tool development.
The Memorandum of Understanding (MoU) entails partnership on exchange of information and data on training and skill requirement will take place to benefit the industry.
Demand for Indian goods have increased in Russia due to the sanctions imposed on it by USA, UK and European Countries who were one the biggest exporters of Fast Moving Consumer Goods (FMCG) and consumable goods.
Russian trade organisations have reached out to the Confederation of All India Traders (CAIT) urging Indian manufacturers and traders to fill the void with Indian goods.
With the signing of India-UAE Comprehensive Economic Partnership Agreement (CEPA), India will export gems & jewellery worth more than USD 10 billion to UAE every year, said the Gem & Jewellery Export Promotion Council (GJEPC).
According to the agreement, the import duty on Jewellery exports to UAE from India has been reduced from 5 per cent to 0 per cent. “The Indo-UAE CEPA will strengthen business ties with one of the biggest buyers of Indian jewellery. With 0 per cent import duty on jewellery, we are expecting jewellery exports to UAE will move to new heights of USD 10 billion annually,” said Colin Shah, Chairman, GJEPC.
Turkey’s largest textile exhibition HOMETEX will showcase textile products from India, Turkey, France, Italy, Netherlands, Pakistan, Spain and the US from 17th to 21st May, 2022 at the Istanbul Expo Center.
This is the 26th edition of HOMETEX’s which is taking place after a two-year hiatus due to the Covid-19 pandemic. The expo is expected to draw leading home-textile producers from across the world and it will be held in an exhibition area of 200,000 square meters.
How can process-driven organisations be more creative?
Companies such as Apple and Google are known for their innovativeness and creativity in the corporate and tech world. Google’s innovative ideas such as language translation feature, voice-search mechanism and direction and traffic feature in Google maps are just some of the examples of how the Company keeps bringing in better and useful upgrades to its digital products.
Eight Essential Financial Tips To Keep Your Business Going Past Year One
In all the excitement of opening a business and launching that first product or service, it can be easy for aspiring entrepreneurs to forgo a thorough audit of their finances in favor of speed to market. However, it's absolutely crucial for business owners to keep a close eye on their income and expenses—especially if they want to ensure their survival past year one.
5 Marketing Strategies Business Owners Should Start in 2022
Though infinitely better than 2020, 2021 had its own unique challenges. With 2022 off to its start, it’s a chance to start fresh and do all the stuff we swore we’d get done every other year. Whether personal or professional, the new year is a time to set goals and start delivering on your plan. If you’re a business owner, that includes setting marketing goals and developing your marketing strategies.
MSMEs in Arunachal Pradesh suffer as govt fails to carry out industrial schemes
The Micro, Small and Medium Enterprises (MSMEs) in the North Eastern state of Arunachal Pradesh are disappointed as they continue to face challenges due to state government’s failure in implementing the several industrial schemes.
This agritech startup aims to modernise farming with its full-stack solution
Founded in 2019 by Dhiresh Kumar, Paras Jain and Nishant Chauhan, Neem Tree Agro Solutions follows a ‘phygital’ approach (physical+digital). It provides a full-stack solution and handles everything – right from sowing to harvesting, with fully functional retailer shops in every nook and corner.
This ex-Ola employee is bringing pure pashmina to people with her D2C startup
Pashmina is valued for its fine craftsmanship the world over. A fine variant of spun cashmere, the animal hair that forms the downy undercoat of the Changthangi goat, the exceptionally warm and delicate fibre is coveted and preserved. But nowhere does the pashmina hold more emotional significance than in Kashmiri households – where intricately embroidered pashmina shawls are the quintessential heirlooms passed down for generations.
Since April, 2018, the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) 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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Dear friends,
Time flies. As my extended tenure concludes, I realize how much has happened in fast track mode during last months. The period coincided with the biggest challenge of last hundred years – Covid-19. It has shaken all human belief systems and put to test all institutions from governments to hospitals to businesses. I have not attended as many meetings with senior most Govt functionaries during my entire career in business associations as I did during Covid induced lockdowns. Nor I have seen as much traction on ground of what is decided during these meetings. I have been witness to the best and the worst of actions of governments and industry. Looking back I draw three lessons from my experience as President of FISME. Firstly, the Covid-19 has had indelible impact on global supply chains and the monopoly of China as ‘the’ factory of the world is broken. There are many contenders now and India certainly is among the top three or four destinations. Secondly, during the time when the world is reorienting its gaze to India as investment destination, Indian politicians are busy in shortsighted expediencies of regionalism and parochialism. For instance, demanding and granting job quotas for their State. Most of our ills that shackle businesses are self-inflicted either in the hands of politicians or a few large business houses. Thirdly, businesses in general and MSMEs in particular are too narrowly focused on short term goals. They invest neither individually nor collectively for issues that shape their future be it in the domain of policies, trade agreements or technology. Industry associations will have to be reimagined if India wants to claim a pole position in manufacturing. And, I feel with conviction, before we give sermons to politicians and governing institutions we need to work towards putting our house in order. Finally, I wish my successor young entrepreneur from Gujarat Shri Prashant Patel all success. He can fully count on the unflinching support of Central Executive Committee including me. Jai Hind.
"
The Union Cabinet, chaired by Prime Minister Narendra Modi, today approved a Rs 6,062.45 crore program, assisted by the World Bank, for improving the performance of micro, small and medium enterprises (MSMEs).
The program, Raising and Accelerating MSME Performance (RAMP), is a World Bank assisted central sector scheme which will support various COVID-19 pandemic related resilience and recovery interventions of the Ministry of Micro, Small and Medium Enterprises. The scheme would commence in the financial year 2022-23.
The Union Budget FY22-23 is a roadmap created by the government to aid MSMEs with the extension of ECLGS, upgradation of CGTMSE and implementation RAMP programme, said Finance Minister Nirmala Sitharaman in a written reply to the Rajya Sabha.
She emphasised on the economy focusses of the government which is the macro-level growth with all-inclusive welfare at the micro-level. Promoting digital economy and fintech, technology-enabled development, energy transition and climate action are some of the main elements to foster growth, FM Sitharaman, added.
On attaining India’s USD 400 billion exports target, Prime Minister Narendra Modi congratulated the farmers, MSMEs, exporters and manufacturers.
He expressed his thoughts on Twitter stating, “India set an ambitious target of USD 400 billion of goods exports & achieves this target for the first time ever. I congratulate our farmers, weavers, MSMEs, manufacturers, exporters for this success."
“This is a key milestone in our Aatmanirbhar Bharat journey,” said PM Modi.
The Ministry of MSME has invited applications for National MSME Awards for the period 2021-22 to 2025-26 and has set 20th April 2022 as the last date for submission.
The operational guidelines pertaining to National MSME Awards Scheme was released for continuation during the period of 15th Finance Commission (2021-22 to 2025-26). There are a total 21 awards belonging to the general category out of which 12 awards are for manufacturing entrepreneurship, 9 awards for service entrepreneurship and in all of these awards rewards ranging to Rs 1 to Rs 3 lakh will be presented to the winners.
The government has approved applications of as many as 13 Micro, Small and Medium Enterprises (MSMEs) to domestically manufacture bulk drugs under the Production Linked Incentive (PLI) scheme fr0m total 33 companies.
On Tuesday, Minister of State for Chemicals and Fertilisers Bhagwanth Khuba informed the Rajya Sabha that a total 239 number of applications were received by the central government and 49 application have been approved till now which are fr0m 33 companies.
The Ministry of Commerce & Industry will be accepting applications for White Goods (ACs and LED Lights) under the PLI scheme till 25th April, 2022.
The application window was reopened on 10th March for 45 days to give second chance to prospective investors to take benefits of the scheme. In April 2021, the union cabinet had approved the PLI Scheme for White Goods for manufacture of components and sub-assemblies of Air Conditioners (ACs) and LED Lights promoting the vision of Atmanirbhar Bharat.
The textile sector in India will carry forward the growth it has made in Financial Year (FY) 2021-22 to FY23 and will recover from the lows hit during the onset of the pandemic.
The CRISIL SME Tracker has said that there has been an improvement in the demand for textile products as economic recovery is felt internationally as well. Indian exports has benefitted due to the US ban on China’s Xinjiang cotton and are likely to continue growing in the medium term, while impact of the Russia-Ukraine crisis remains a monitorable though, said the analysis by CRISIL.
The Madhya Pradesh government is planning to remove the criteria of turnover and experience in tenders upto Rs 1 crore for startups under its upcoming Startup Policy for 2022.
Financial assistance of Rs 5 lakh will be provided to incubators, said MSME operator Vishesh Gadhpale who gave this information in presence of Anurag Jain, Secretary, DPIIT at a meeting organized at B-Nest Center in Bhopal Smart City on Thursday.
National Small Industries Corporation (NSIC) and Tamil Nadu Industrial Investment (TIIC), signed a Memorandum of Understanding today in Chennai.
The MoU was signed to cooperate for support mechanisms for MSMEs in the State of Tamilnadu for the defence corridor proposal in facilitating raw materials, finances, e-commerce, and other areas. TIIC provides financial assistance for purchase of land, machinery and construction of buildings. The purpose could be for setting up new units / expansion / modernization / diversification of existing industries. Assistance is extended to both manufacturing and eligible service sector industries.
The Central Tool Room, Ludhiana has signed an agreement with Dr B R Ambedkar National Institute of Technology (NIT) Jalandhar to help MSMEs solve problems related to skilling, industry and enable research for products, process and tool development.
The Memorandum of Understanding (MoU) entails partnership on exchange of information and data on training and skill requirement will take place to benefit the industry.
Demand for Indian goods have increased in Russia due to the sanctions imposed on it by USA, UK and European Countries who were one the biggest exporters of Fast Moving Consumer Goods (FMCG) and consumable goods.
Russian trade organisations have reached out to the Confederation of All India Traders (CAIT) urging Indian manufacturers and traders to fill the void with Indian goods.
With the signing of India-UAE Comprehensive Economic Partnership Agreement (CEPA), India will export gems & jewellery worth more than USD 10 billion to UAE every year, said the Gem & Jewellery Export Promotion Council (GJEPC).
According to the agreement, the import duty on Jewellery exports to UAE from India has been reduced from 5 per cent to 0 per cent. “The Indo-UAE CEPA will strengthen business ties with one of the biggest buyers of Indian jewellery. With 0 per cent import duty on jewellery, we are expecting jewellery exports to UAE will move to new heights of USD 10 billion annually,” said Colin Shah, Chairman, GJEPC.
Turkey’s largest textile exhibition HOMETEX will showcase textile products from India, Turkey, France, Italy, Netherlands, Pakistan, Spain and the US from 17th to 21st May, 2022 at the Istanbul Expo Center.
This is the 26th edition of HOMETEX’s which is taking place after a two-year hiatus due to the Covid-19 pandemic. The expo is expected to draw leading home-textile producers from across the world and it will be held in an exhibition area of 200,000 square meters.
According to the FISME factor, 100% of MSMEs think that there is high probability of hike in inflation due to the Russia-Ukraine conflict. 
Companies such as Apple and Google are known for their innovativeness and creativity in the corporate and tech world. Google’s innovative ideas such as language translation feature, voice-search mechanism and direction and traffic feature in Google maps are just some of the examples of how the Company keeps bringing in better and useful upgrades to its digital products.
In all the excitement of opening a business and launching that first product or service, it can be easy for aspiring entrepreneurs to forgo a thorough audit of their finances in favor of speed to market. However, it's absolutely crucial for business owners to keep a close eye on their income and expenses—especially if they want to ensure their survival past year one.
The Micro, Small and Medium Enterprises (MSMEs) in the North Eastern state of Arunachal Pradesh are disappointed as they continue to face challenges due to state government’s failure in implementing the several industrial schemes.
Founded in 2019 by Dhiresh Kumar, Paras Jain and Nishant Chauhan, Neem Tree Agro Solutions follows a ‘phygital’ approach (physical+digital). It provides a full-stack solution and handles everything – right from sowing to harvesting, with fully functional retailer shops in every nook and corner.
Pashmina is valued for its fine craftsmanship the world over. A fine variant of spun cashmere, the animal hair that forms the downy undercoat of the Changthangi goat, the exceptionally warm and delicate fibre is coveted and preserved. But nowhere does the pashmina hold more emotional significance than in Kashmiri households – where intricately embroidered pashmina shawls are the quintessential heirlooms passed down for generations.
“The greatest glory in living lies not in never falling, but in rising every time we fall. ”
