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President Message
I am exhilarated to take charge as President of FISME. While I have been working very closely with industry associations for over a decade now, heading a national body with such a distinguished past as FISME is a great honour and responsibility. If I may borrow Charles Dickens’s words to describe our times, “it was the best of times, it was the worst of times”. Covid and ensuing war between Russia and Ukraine have brought the worst of times upon humanity in recent history. But the churn may bring forth a new world order reflecting the geo-economic realities of our times. Amidst the chaos, it may be best of times for India as new opportunities emerge in economic and political spheres. Global value chains are under transformation and many are landing at the Indian shores. Foreign investment flows are setting new records and Indian exports are booming. We just cloaked US$ 400 Bn last year. With new initiatives like PLI and Make in India, new manufacturing platforms are evolving in sectors such as Telecom, Electronics, Defence, Chemical & Pharma, Food processing and others which would catapult Indian exports to new levels. MSMEs are and have to be an integral part of the new industrial evolution. I have decided to focus on three areas namely Public Procurement, issues related Banking and Finance and up-gradation of industrial areas & clusters so that we as sector remain equipped and prepared to exploit emerging opportunities. I seek cooperation of you all in this endeavour.
"
Small businesses are fueling innovation and bridging critical gaps in virtually every industry. According to Semrush, small businesses also create 1.5 million jobs and account for 64% of all new jobs in the U.S.
Of course, the purpose for venturing into entrepreneurship differs from one business owner to another. While some are passion-driven, others are motivated by a desire to quit their jobs in pursuit of freedom to control their time and create their own path to success.
Despite global uncertainties due to the Russia-Ukraine war looming large and effects of supply chain disruptions continue globally, key domestic economic indicators have started showing signs of a recovery in the Indian economy. GST collections and exports are touching record high numbers, while housing sales as well as new project launches are also gaining good momentum.
The Central Board of Indirect Taxes and Customs (CBIC) has notified the exemption of customs duty and agriculture infrastructure development cess on cotton imports.
The Centre has waived customs duty on cotton imports till September 30, a move that will give a boost to textile exports. Also, this will help the industry in lowering domestic prices.
CBIC in its statement said that the notification will come into effect on April 14, 2022, and will remain in force up to and inclusive of September 30, 2022.
The Reserve Bank of India (RBI) has announced no changes in the 4 per cent repo rate but has brought down the growth projection rate to 7.2 per from 7.8 per cent during its Monetary Policy Committee (MPC) meet on Friday.
Shaktikanta Das, Governor, RBI said that the MPC has unanimously voted to maintain the accommodative stance to expand money supply in order to boost the economy and has kept the reverse repo rate unchanged at 3.35 per cent.
The Director-General of Foreign Trade (DGFT) has extended the date for implementation of Track and Trace system for export of drug formulations to March 31, 2023.
The drug formulations are in reference with the Parent-Child relationship in packaging levels and its uploading on Central Portal. The extension of date is applicable for both SSL and non SSI manufactured drugs.
It was in May 2018 that DGFT had implemented the track and trace system for export of Pharmaceuticals and drug consignments along with maintaining the Parent-Child relationship in the levels of packaging and their movement in supply chain.
A draft of MSME policy, delayed payments and access to the global market are among the key items on the agenda of a high-level meeting to be chaired by Union MSME Minister Narayan Rane towards the end of this month. All major industry bodies in the sector have been invited to discuss the issues hurting the sector as per the draft agenda note circulated by the MSME Ministry.
The issues related to definition of MSMEs and institutional credit have also been listed for discussion on April 28 at Vigyan Bhawan in the national capital.
The Small Industries Development Bank of India (SIDBI) has collaborated with the Dalit Indian Chamber of Commerce & Industry (DICCI) to install 1000 Plastic Reverse Vending Machines (RVMs). The plastic collected will be recycled by partner organisations under the MSME initiatives.
This joint association is a part of SIDBI’s CSR funds directed towards curbing carbon footprint which was announced at the ‘Swachh Delhi, Swavalambi Delhi’ event.
The Union Cabinet chaired by Prime Minister Narendra Modi has approved the extension of Atal Innovation Mission (AIM) till March 2023.
The AIM will continue to work towards creating an innovation culture and entrepreneurial ecosystem in the country. It will implement various programmes to set up 10,000 Atal Tinkering Labs (ATLs), 101 Atal Incubation Centres, and 50 Atal Community Innovation Centres across India.
Through the Atal New India Challenges it will also support 200 startups.
The tech-based company Globalloy will launch its platform on April 20, 2022 to help MSMEs in the export market meet with the international standards.
The aim of the company is to contribute to the government's initiative of Atmanirbhar Bharat and be a force multiplier for the global economy. Speaking about the platform, Nishant Garg, Founder of Globalloy said, " Our process of onboarding MSMEs clients and suppliers is simple and free of cost to ensure a hassle-free and seamless transaction."
The Uttar Pradesh Government led by Chief Minister Yogi Adityanath is all set to create a big platform for employment of the state's youth in handloom and textile sectors as part of its vision to realize the dream of building a self-reliant UP.
The Yogi government is also working on formulating a new and comprehensive policy for handloom, powerloom, silk, textiles and garments for the year 2022 in order to boost the sectors, said a press statement.
The Uttar Pradesh Government led by Chief Minister Yogi Adityanath is all set to create a big platform for employment of the state's youth in handloom and textile sectors as part of its vision to realize the dream of building a self-reliant UP.
The Yogi government is also working on formulating a new and comprehensive policy for handloom, powerloom, silk, textiles and garments for the year 2022 in order to boost the sectors, said a press statement.
The Madhya Pradesh government will be hosting its first Auto Show from 28th to 30th April 2022 to attract the automotive industry and investors help boost the state’s economy
The event is being organized in partnership with the Confederation of Indian Industry (CII), Society of Indian Automobile Manufacturers (SIAM) and Automotive Component Manufacturers Association of India (ACMA). Chief Minister Shivraj Singh Chouhan will inaugurate the show which will be followed by a meeting with industry leaders in a session focused on ‘Automobile industry driving India’s economic growth’.
The Semiconductor Industry Association (SIA), the trade association representing the US semiconductor industry, has signed a Memorandum of Understanding (MoU) with the India Electronics and Semiconductor Association (IESA), the trade group representing India’s semiconductor and electronics systems design and manufacturing industry.
Under this MoU, the two will cooperate to identify potential opportunities between the two countries in the semiconductor sector.
A delegation from Egypt has shown interest in importing wheat from Madhya Pradesh by replacing its previous crop exporters - Russia and Ukraine due to the ongoing war between the two countries.
The Egyptian delegation on Monday visited the state’s capital city of Indore to find a potential replacement of their crop importer. Members and inspector of Agriculture Quarantine at the Central Department for Agriculture Quarantine in Egypt, Engineer Islam Farahat Abdel Aziz Abo El Ela (supervisor and head of the delegation), Dr Saleh Abdel Satar Bahig Ahmad and Ahmad Rabea Abdalla Abdel Kader were part of the delegation.
As India's merchandise exports crossed $400 billion in the current financial year. According to the FISME factor, 50% of MSMEs think there will be high exports growth during next 12 months while 50% think there will be moderate growth.
As India's merchandise exports crossed $400 billion in the current financial year. According to the FISME factor, 50% of MSMEs think there will be high exports growth during next 12 months while 50% think there will be moderate growth.
As we enter 2022, changes in how we work, where we work, who we work with, why we work, and the technologies we use are in continual flux. Many of these changes started prior to the pandemic, were accelerated by it, and have become permanent aspects of the workplace.
5 financial tips to make expansion plans easier for SMEs
The most important element for any small business planning expansion is to obtain funding to mobilise the materials, men and methods. When you’re looking to venture into a new market, financial planning becomes crucial in order to ensure that the investment which you make doesn't end up hurting your cash flow and drowning your business.
3 Great Ways to Connect with Customers in a Post-Covid World
To say that the last two years have changed the way we do business is a vast understatement. The pandemic has uprooted most facets of normalcy, from how we dine to the way our children learn. It has changed the way we as humans relate to one another, but as we move forward together and navigate the new normal, there is much that brands can learn from the resiliency and compassion manifested since early 2020.
TEA appeal FM to provide garment MSMEs 20% additional loan support under ECLGS
The Tirupur Exporters' Association (TEA) has urged the Union Finance Minister Nirmala Sitharaman to provide labour intensive MSME driven garment industries an additional 20 per cent loan support under Emergency Credit Line Guarantee Scheme (ECLGS).
Speaking exclusively with KNN India, Raja Shanmugam said that the 20 per cent additional support would help the MSMEs.
How this aquaculture startup is helping farmers reduce costs and increase output
For the longest time, aqua farming, or the activity of growing shrimps, lobsters, mussels, and other edible aquatic organisms, remained highly unorganised in India. Farmers reaped good harvests but failed to make the money they deserved on account of the middlemen.
How this NIT alum went from selling panipuris to starting an EV rental business
If you ask Shivam Sisodiya about his earlier ventures before establishing an electric vehicles rental business, he is happy to recall how he sold the crowd favourite pani-puris on the streets and marriage halls of Hyderabad in 2017.
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 February, 2022 (Base 2011-12=100).
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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I am exhilarated to take charge as President of FISME. While I have been working very closely with industry associations for over a decade now, heading a national body with such a distinguished past as FISME is a great honour and responsibility. If I may borrow Charles Dickens’s words to describe our times, “it was the best of times, it was the worst of times”. Covid and ensuing war between Russia and Ukraine have brought the worst of times upon humanity in recent history. But the churn may bring forth a new world order reflecting the geo-economic realities of our times. Amidst the chaos, it may be best of times for India as new opportunities emerge in economic and political spheres. Global value chains are under transformation and many are landing at the Indian shores. Foreign investment flows are setting new records and Indian exports are booming. We just cloaked US$ 400 Bn last year. With new initiatives like PLI and Make in India, new manufacturing platforms are evolving in sectors such as Telecom, Electronics, Defence, Chemical & Pharma, Food processing and others which would catapult Indian exports to new levels. MSMEs are and have to be an integral part of the new industrial evolution. I have decided to focus on three areas namely Public Procurement, issues related Banking and Finance and up-gradation of industrial areas & clusters so that we as sector remain equipped and prepared to exploit emerging opportunities. I seek cooperation of you all in this endeavour.
"
The Central Board of Indirect Taxes and Customs (CBIC) has notified the exemption of customs duty and agriculture infrastructure development cess on cotton imports.
The Centre has waived customs duty on cotton imports till September 30, a move that will give a boost to textile exports. Also, this will help the industry in lowering domestic prices.
CBIC in its statement said that the notification will come into effect on April 14, 2022, and will remain in force up to and inclusive of September 30, 2022.
The Reserve Bank of India (RBI) has announced no changes in the 4 per cent repo rate but has brought down the growth projection rate to 7.2 per from 7.8 per cent during its Monetary Policy Committee (MPC) meet on Friday.
Shaktikanta Das, Governor, RBI said that the MPC has unanimously voted to maintain the accommodative stance to expand money supply in order to boost the economy and has kept the reverse repo rate unchanged at 3.35 per cent.
The Director-General of Foreign Trade (DGFT) has extended the date for implementation of Track and Trace system for export of drug formulations to March 31, 2023.
The drug formulations are in reference with the Parent-Child relationship in packaging levels and its uploading on Central Portal. The extension of date is applicable for both SSL and non SSI manufactured drugs.
It was in May 2018 that DGFT had implemented the track and trace system for export of Pharmaceuticals and drug consignments along with maintaining the Parent-Child relationship in the levels of packaging and their movement in supply chain.
A draft of MSME policy, delayed payments and access to the global market are among the key items on the agenda of a high-level meeting to be chaired by Union MSME Minister Narayan Rane towards the end of this month. All major industry bodies in the sector have been invited to discuss the issues hurting the sector as per the draft agenda note circulated by the MSME Ministry.
The issues related to definition of MSMEs and institutional credit have also been listed for discussion on April 28 at Vigyan Bhawan in the national capital.
The Small Industries Development Bank of India (SIDBI) has collaborated with the Dalit Indian Chamber of Commerce & Industry (DICCI) to install 1000 Plastic Reverse Vending Machines (RVMs). The plastic collected will be recycled by partner organisations under the MSME initiatives.
This joint association is a part of SIDBI’s CSR funds directed towards curbing carbon footprint which was announced at the ‘Swachh Delhi, Swavalambi Delhi’ event.
The Union Cabinet chaired by Prime Minister Narendra Modi has approved the extension of Atal Innovation Mission (AIM) till March 2023.
The AIM will continue to work towards creating an innovation culture and entrepreneurial ecosystem in the country. It will implement various programmes to set up 10,000 Atal Tinkering Labs (ATLs), 101 Atal Incubation Centres, and 50 Atal Community Innovation Centres across India.
Through the Atal New India Challenges it will also support 200 startups.
The tech-based company Globalloy will launch its platform on April 20, 2022 to help MSMEs in the export market meet with the international standards.
The aim of the company is to contribute to the government's initiative of Atmanirbhar Bharat and be a force multiplier for the global economy. Speaking about the platform, Nishant Garg, Founder of Globalloy said, " Our process of onboarding MSMEs clients and suppliers is simple and free of cost to ensure a hassle-free and seamless transaction."
The Uttar Pradesh Government led by Chief Minister Yogi Adityanath is all set to create a big platform for employment of the state's youth in handloom and textile sectors as part of its vision to realize the dream of building a self-reliant UP.
The Yogi government is also working on formulating a new and comprehensive policy for handloom, powerloom, silk, textiles and garments for the year 2022 in order to boost the sectors, said a press statement.
The Uttar Pradesh Government led by Chief Minister Yogi Adityanath is all set to create a big platform for employment of the state's youth in handloom and textile sectors as part of its vision to realize the dream of building a self-reliant UP.
The Yogi government is also working on formulating a new and comprehensive policy for handloom, powerloom, silk, textiles and garments for the year 2022 in order to boost the sectors, said a press statement.
The Madhya Pradesh government will be hosting its first Auto Show from 28th to 30th April 2022 to attract the automotive industry and investors help boost the state’s economy
The event is being organized in partnership with the Confederation of Indian Industry (CII), Society of Indian Automobile Manufacturers (SIAM) and Automotive Component Manufacturers Association of India (ACMA). Chief Minister Shivraj Singh Chouhan will inaugurate the show which will be followed by a meeting with industry leaders in a session focused on ‘Automobile industry driving India’s economic growth’.
The Semiconductor Industry Association (SIA), the trade association representing the US semiconductor industry, has signed a Memorandum of Understanding (MoU) with the India Electronics and Semiconductor Association (IESA), the trade group representing India’s semiconductor and electronics systems design and manufacturing industry.
Under this MoU, the two will cooperate to identify potential opportunities between the two countries in the semiconductor sector.
A delegation from Egypt has shown interest in importing wheat from Madhya Pradesh by replacing its previous crop exporters - Russia and Ukraine due to the ongoing war between the two countries.
The Egyptian delegation on Monday visited the state’s capital city of Indore to find a potential replacement of their crop importer. Members and inspector of Agriculture Quarantine at the Central Department for Agriculture Quarantine in Egypt, Engineer Islam Farahat Abdel Aziz Abo El Ela (supervisor and head of the delegation), Dr Saleh Abdel Satar Bahig Ahmad and Ahmad Rabea Abdalla Abdel Kader were part of the delegation.
As India's merchandise exports crossed $400 billion in the current financial year. According to the FISME factor, 50% of MSMEs think there will be high exports growth during next 12 months while 50% think there will be moderate growth. 
As we enter 2022, changes in how we work, where we work, who we work with, why we work, and the technologies we use are in continual flux. Many of these changes started prior to the pandemic, were accelerated by it, and have become permanent aspects of the workplace.
The most important element for any small business planning expansion is to obtain funding to mobilise the materials, men and methods. When you’re looking to venture into a new market, financial planning becomes crucial in order to ensure that the investment which you make doesn't end up hurting your cash flow and drowning your business.
The Tirupur Exporters' Association (TEA) has urged the Union Finance Minister Nirmala Sitharaman to provide labour intensive MSME driven garment industries an additional 20 per cent loan support under Emergency Credit Line Guarantee Scheme (ECLGS).
Speaking exclusively with KNN India, Raja Shanmugam said that the 20 per cent additional support would help the MSMEs.
For the longest time, aqua farming, or the activity of growing shrimps, lobsters, mussels, and other edible aquatic organisms, remained highly unorganised in India. Farmers reaped good harvests but failed to make the money they deserved on account of the middlemen.
If you ask Shivam Sisodiya about his earlier ventures before establishing an electric vehicles rental business, he is happy to recall how he sold the crowd favourite pani-puris on the streets and marriage halls of Hyderabad in 2017.
“The journey of a thousand miles begins with one step. ”
