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President Message
India is celebrating 75 years of its independence. When India became independent in 1947, in the name of manufacturing, we had just a couple of textile mills, few British owned engineering firms and a steel mill. Almost everything from needle to lanterns or watches to automobile came from Europe. What India had was traditional art and craft which was also devastated: the British policies had disrupted raw material markets and domestic supply chains. India built its massive industrial infrastructure over the years with a series of planned interventions. On the one hand, it nurtured and resuscitated traditional crafts through Offices of Development Commissioner Handicrafts & Textiles, on the other hand helped develop millions of Small Scale industries (now termed as MSMEs) from scratch with the help of office fo Development Commissioner SSI (now DCMSME). Government provided land, liberal finance, marketing and technical support through a vast web of institutions created for the purpose. PSUs setup clusters around them of small vendors providing them technology and markets. When we look back, we see that successive Governments did whatever was possible to help MSMEs. Today, the sector is contributing to almost 30% to India’s GDP. It is the second largest employer after agriculture. It is producing over 5000 products. Looking at future, one of the major challenge is again of technology. Earlier Technology to MSMEs came via public institutions and PSUs. Both the routes have become redundant now. Indian MSMEs need thousands of JVs with foreign firms to bridge the gaps. Operationalizing and implementing this exercise is a challenge for associations and the Government. We need to gear up for the challenge.
"
The Federation of India Micro and Small & Medium Enterprises (FISME) in partnership with Tamil Nadu Small and Tiny Industries Association (TANSTIA) organised a virtual panel discussion on how MSMEs in Southern India are revamping and expanding their businesses by adopting smart digital payment channels.
Speaking on how MSMEs are benefitting from digitalization, Anil Bhardwaj, Secretary General, FISME, said, “The impact of the government’s push for digitization and e-commerce has been multifold. Due to technological advances, MSMEs are leveraging digital systems of payments such as Amazon Pay, to make day-to-day business transactions convenient for customers.”
For entrepreneurs, talk of a recession should be cause for measured concern and thoughtful preparation. A struggling economy can produce a business environment that generates fewer sales, cash flow issues and a threat to the prosperity of small businesses. Additionally, the repercussions of an economic downturn may be felt more acutely given the stress businesses have been experiencing during recent years, as entrepreneurs have been navigating the pandemic, the ongoing economic shockwaves of inflation, labor shortages and supply chain issues.
India is all set to celebrate 75 years of Independence on Monday (15 August 2022). Over the last seven decades, the Indian economy has seen several ups and downs. The country has gone from having a GDP of just Rs 2.7 lakh crore at the time of Independence to now sitting close to Rs 150 lakh crore. Once branded a “third world country”, India is now among the biggest...
The coir board is expecting the exports to surpass Rs 5,000 crore this fiscal year, D. Kuppuramu, Chairman of the board said recently.
In a recent interview, Kuppuramu said that there is a demand in the overseas market for agro-based products from India, our exporters should focus on value addition. That is what the Board is focusing on. According to the data by the coir board, the coir exports from India touched Rs 4,340.05 crore in the 2021-22, witnessed a jump of 14.8 per cent in value compared to 2020-21, according to the Coir Board.
It is likely that the private investment cycle will accelerate and the Indian economy will grow 7.1 per cent in FY23, as per a report by CareEdge Ratings.
The growth will be on the back of steady performance by services, manufacturing and the farm sectors. According to the report government spending will play a vital role in boosting the growth rate, while improving industrial capacity utilisation levels will help boost private investment cycle.
The 12th edition of India’s flagship defence exhibition on Land, Naval and Homeland Security systems- DefExpo 2022, will be held in Gandhinagar from October 18 – 22.
The primary aim of the exhibition is to serve as a platform for forging partnerships between companies, showcasing start-ups and MSMEs, including cutting-edge technology solutions for future battlefields such as Artificial Intelligence in defence. The show will concurrently host seminars and workshops. As DefExpo 2022 is being held in Gandhinagar, Gujarat government is also marketing the State as an investment destination for the aerospace and defence sector.
The Ministry of Textiles has invited suggestions to replace the Amended Technology Upgradation Fund Scheme (ATUFS) with a scheme having a system like the Production-Linked Incentive (PLI) scheme.
ATUFS ended on March 31, 2022 and the Ministry has asked the Office of the Textile Commissioner to share the draft note among stakeholders of textile manufacturing industry. The Office of the Textile Commissioner has been asked to forward the suggestions from stakeholders of the textile manufacturing industry to the ministry by August 15, 2022.
The Ministry of Micro, Small, and Medium-scale Enterprises (MSMEs) is planning to establish a Technology Development Centre in Coimbatore , said Additional Development Commissioner D. Chandra Sekhar.
“The Tamil Nadu government has provided 13.75 acres of land in Sulur for setting up the centre.The union government will invest Rs 200 crore,” Sekhar told the Hindu on Friday. The government is also planning to hold a stake holders meet before commissioning the Centre.
Sekhar further highlighted that TDC was for general engineering and would have the latest machinery to provide value added services to the units here.
Union Minister for Micro, Small and Medium Enterprises (MSME), Narayan Rane will inaugurate the M. Visvesvaraya Center of Excellence on August 13, 2022 at MVIRDC World Trade Center Mumbai.
The mission of this Center of Excellence is to enhance the share of MSMEs in exports and hence contribute to the USD 1 trillion export target of the union government by 2030, said Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai. The Center is a tribute to Bharat Ratna Dr. M. Visvesvaraya on his 60th Memorial Year along with the Azadi Ka Amrit Mahotsav.
Government of India has decided to offer the use of Indigenous 5G Test Bed free of cost to the Indian Government recognized start-ups and MSMEs for the next six months which is up to January 2023.
The aim is to boost 5G ecosystem within India and to achieve the objectives of Aatmanirbhar Bharat and Make in India initiatives. It is available at a very nominal rate to all other stakeholders. Department of Telecommunications, Government of India has strongly urged all 5G stakeholders i.e. Industry, Academia, Service Providers, R&D Institutions, Govt. Bodies, Equipment Manufacturers, etc.
The Tamil Nadu government has said that the production of Pongal dhoti and saree will begin soon.
This comes as a relief to the weavers from power loom sector in Erode district who went on a day long hunger strike. However after the Independence day the weavers are expecting policy level orders from the government. The state government made the announcement a day after Tamil Nadu Federation of Power looms Association went on a hunger strike in Erode.
The Uttar Pradesh government is planning to open 75 MSME marts across the country to provide a boost to the state’s local handicrafts.
The MSME marts will display products ranging from the brass products of Moradabad to wooden toys of Chitrakoot. According to the report published in Daily Pioneer, Praveen singh, UP’s Industrial Consultants (UPICON) Managing director said that the Micro Small and Medium Enterprise (MSME) Mart on the seventh floor of the Summit Building in Lucknow has been operational and is serving as a promotional hub and showcasing venue for the products curated by local artisans trained under ODOP and other similar government schemes.
The Kerala government has decided to launch a mobile app to curb the rising cases of GST evasion.
The state government aims to provide people with a platform wherein they can upload original bills and also stand to win prizes. The state government expects the 'Lucky Bill App' to help in increasing tax collections as people will be encouraged to ask bills while purchasing goods and availing services. According to an official statement,the app will be launched by Chief Minister Pinarayi Vijayan on August 16.
India and the United Kingdom concluded the fifth round of talks for an India-UK Free Trade Agreement (FTA) on July 29, 2022, said Ministry of Commerce & Industry on Thursday.
The aim is to conclude majority of talks on a comprehensive and balanced FTA by the end of October 2022. Negotiation officials undertook these technical talks in a hybrid fashion – with some of the teams meeting in New Delhi, India, and the majority of officials joining virtually.
For this round of negotiations, technical experts from both sides came together for detailed draft treaty text discussions in 85 separate sessions covering 15 policy areas.
Manufacturing purchasing managers' index climbed to eight-month high of 56.4 in July from 53.9 in June. Do you think that this growth will sustain in future?
Manufacturing purchasing managers' index climbed to eight-month high of 56.4 in July from 53.9 in June. According to the FISME factor, 40% of MSMEs think that this growth will sustain in future while 60% can’t say.
Why employees are equally responsible for lack of work life balance
While cribbing about the lack of work–life balance, many employees don’t think twice before blaming their bosses, work or organisations for the same. It is indeed true that some companies or rather, bosses, do not really respect their employees’ time, assigning them ‘urgent’ work at the eleventh hour and expecting them to complete it before leaving for home.
6 Ways to Protect Your Small Business From Inflation Pressure
For many small business owners, raising their prices is the natural reaction to inflation. And while this strategy may be necessary in some cases, it can also cause you to lose customers, especially if you do it too quickly. Let's look at six ways to protect your business from inflation and ensure it remains profitable.
5 Tips to Master the Art of Sales and Get Your Business Ahead
Sales is an art. It's a delicate balance of persuasion, psychology and understanding of human nature. And like any art, it takes years of practice to perfect. At the age of 16, I launched my first business.
Production of SME forging units to drop by 50% in FY23
The small and medium enterprises (SMEs) having industrial forging units are likely to witness a 50 per cent decline in production in FY23, said Association of Indian Forging Industry (AIFI).
The drop is indicative of the tough time endured by the forging companies and especially SMEs in the first half of the year due to increased input costs, particularly steel, aluminium, and nickel prices.
From India to the world, this social entrepreneur is reviving Indian fibres with basketry
Kolkata-based Payal Nath, Co-founder of Kadam Haat and Kadam Foundation, is among 75 women honoured as Women Transforming India by NITI Aayog this year. Payal grew up in different parts of India as an Army child and moved to Kolkata after marriage.
Meet Prerna Mehra, who started an Indian clothing brand at just 17
Prerna Mehra, who is a successful entrepreneur today, had always had an urge to make her mark. The urge was so strong that she started her fashion venture, Label Prerna Mehra, in 2014, at just seventeen! “I never liked having a non-productive day,” says Prerna, displaying her ambitious spirit.
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 June, 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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India is celebrating 75 years of its independence. When India became independent in 1947, in the name of manufacturing, we had just a couple of textile mills, few British owned engineering firms and a steel mill. Almost everything from needle to lanterns or watches to automobile came from Europe. What India had was traditional art and craft which was also devastated: the British policies had disrupted raw material markets and domestic supply chains. India built its massive industrial infrastructure over the years with a series of planned interventions. On the one hand, it nurtured and resuscitated traditional crafts through Offices of Development Commissioner Handicrafts & Textiles, on the other hand helped develop millions of Small Scale industries (now termed as MSMEs) from scratch with the help of office fo Development Commissioner SSI (now DCMSME). Government provided land, liberal finance, marketing and technical support through a vast web of institutions created for the purpose. PSUs setup clusters around them of small vendors providing them technology and markets. When we look back, we see that successive Governments did whatever was possible to help MSMEs. Today, the sector is contributing to almost 30% to India’s GDP. It is the second largest employer after agriculture. It is producing over 5000 products. Looking at future, one of the major challenge is again of technology. Earlier Technology to MSMEs came via public institutions and PSUs. Both the routes have become redundant now. Indian MSMEs need thousands of JVs with foreign firms to bridge the gaps. Operationalizing and implementing this exercise is a challenge for associations and the Government. We need to gear up for the challenge.
"
The Federation of India Micro and Small & Medium Enterprises (FISME) in partnership with Tamil Nadu Small and Tiny Industries Association (TANSTIA) organised a virtual panel discussion on how MSMEs in Southern India are revamping and expanding their businesses by adopting smart digital payment channels.
Speaking on how MSMEs are benefitting from digitalization, Anil Bhardwaj, Secretary General, FISME, said, “The impact of the government’s push for digitization and e-commerce has been multifold. Due to technological advances, MSMEs are leveraging digital systems of payments such as Amazon Pay, to make day-to-day business transactions convenient for customers.”
The coir board is expecting the exports to surpass Rs 5,000 crore this fiscal year, D. Kuppuramu, Chairman of the board said recently.
In a recent interview, Kuppuramu said that there is a demand in the overseas market for agro-based products from India, our exporters should focus on value addition. That is what the Board is focusing on. According to the data by the coir board, the coir exports from India touched Rs 4,340.05 crore in the 2021-22, witnessed a jump of 14.8 per cent in value compared to 2020-21, according to the Coir Board.
It is likely that the private investment cycle will accelerate and the Indian economy will grow 7.1 per cent in FY23, as per a report by CareEdge Ratings.
The growth will be on the back of steady performance by services, manufacturing and the farm sectors. According to the report government spending will play a vital role in boosting the growth rate, while improving industrial capacity utilisation levels will help boost private investment cycle.
The 12th edition of India’s flagship defence exhibition on Land, Naval and Homeland Security systems- DefExpo 2022, will be held in Gandhinagar from October 18 – 22.
The primary aim of the exhibition is to serve as a platform for forging partnerships between companies, showcasing start-ups and MSMEs, including cutting-edge technology solutions for future battlefields such as Artificial Intelligence in defence. The show will concurrently host seminars and workshops. As DefExpo 2022 is being held in Gandhinagar, Gujarat government is also marketing the State as an investment destination for the aerospace and defence sector.
The Ministry of Textiles has invited suggestions to replace the Amended Technology Upgradation Fund Scheme (ATUFS) with a scheme having a system like the Production-Linked Incentive (PLI) scheme.
ATUFS ended on March 31, 2022 and the Ministry has asked the Office of the Textile Commissioner to share the draft note among stakeholders of textile manufacturing industry. The Office of the Textile Commissioner has been asked to forward the suggestions from stakeholders of the textile manufacturing industry to the ministry by August 15, 2022.
The Ministry of Micro, Small, and Medium-scale Enterprises (MSMEs) is planning to establish a Technology Development Centre in Coimbatore , said Additional Development Commissioner D. Chandra Sekhar.
“The Tamil Nadu government has provided 13.75 acres of land in Sulur for setting up the centre.The union government will invest Rs 200 crore,” Sekhar told the Hindu on Friday. The government is also planning to hold a stake holders meet before commissioning the Centre.
Sekhar further highlighted that TDC was for general engineering and would have the latest machinery to provide value added services to the units here.
Union Minister for Micro, Small and Medium Enterprises (MSME), Narayan Rane will inaugurate the M. Visvesvaraya Center of Excellence on August 13, 2022 at MVIRDC World Trade Center Mumbai.
The mission of this Center of Excellence is to enhance the share of MSMEs in exports and hence contribute to the USD 1 trillion export target of the union government by 2030, said Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai. The Center is a tribute to Bharat Ratna Dr. M. Visvesvaraya on his 60th Memorial Year along with the Azadi Ka Amrit Mahotsav.
Government of India has decided to offer the use of Indigenous 5G Test Bed free of cost to the Indian Government recognized start-ups and MSMEs for the next six months which is up to January 2023.
The aim is to boost 5G ecosystem within India and to achieve the objectives of Aatmanirbhar Bharat and Make in India initiatives. It is available at a very nominal rate to all other stakeholders. Department of Telecommunications, Government of India has strongly urged all 5G stakeholders i.e. Industry, Academia, Service Providers, R&D Institutions, Govt. Bodies, Equipment Manufacturers, etc.
The Tamil Nadu government has said that the production of Pongal dhoti and saree will begin soon.
This comes as a relief to the weavers from power loom sector in Erode district who went on a day long hunger strike. However after the Independence day the weavers are expecting policy level orders from the government. The state government made the announcement a day after Tamil Nadu Federation of Power looms Association went on a hunger strike in Erode.
The Uttar Pradesh government is planning to open 75 MSME marts across the country to provide a boost to the state’s local handicrafts.
The MSME marts will display products ranging from the brass products of Moradabad to wooden toys of Chitrakoot. According to the report published in Daily Pioneer, Praveen singh, UP’s Industrial Consultants (UPICON) Managing director said that the Micro Small and Medium Enterprise (MSME) Mart on the seventh floor of the Summit Building in Lucknow has been operational and is serving as a promotional hub and showcasing venue for the products curated by local artisans trained under ODOP and other similar government schemes.
The Kerala government has decided to launch a mobile app to curb the rising cases of GST evasion.
The state government aims to provide people with a platform wherein they can upload original bills and also stand to win prizes. The state government expects the 'Lucky Bill App' to help in increasing tax collections as people will be encouraged to ask bills while purchasing goods and availing services. According to an official statement,the app will be launched by Chief Minister Pinarayi Vijayan on August 16.
India and the United Kingdom concluded the fifth round of talks for an India-UK Free Trade Agreement (FTA) on July 29, 2022, said Ministry of Commerce & Industry on Thursday.
The aim is to conclude majority of talks on a comprehensive and balanced FTA by the end of October 2022. Negotiation officials undertook these technical talks in a hybrid fashion – with some of the teams meeting in New Delhi, India, and the majority of officials joining virtually.
For this round of negotiations, technical experts from both sides came together for detailed draft treaty text discussions in 85 separate sessions covering 15 policy areas.
Manufacturing purchasing managers' index climbed to eight-month high of 56.4 in July from 53.9 in June. According to the FISME factor, 40% of MSMEs think that this growth will sustain in future while 60% can’t say. 
While cribbing about the lack of work–life balance, many employees don’t think twice before blaming their bosses, work or organisations for the same. It is indeed true that some companies or rather, bosses, do not really respect their employees’ time, assigning them ‘urgent’ work at the eleventh hour and expecting them to complete it before leaving for home.
The small and medium enterprises (SMEs) having industrial forging units are likely to witness a 50 per cent decline in production in FY23, said Association of Indian Forging Industry (AIFI).
The drop is indicative of the tough time endured by the forging companies and especially SMEs in the first half of the year due to increased input costs, particularly steel, aluminium, and nickel prices.
Kolkata-based Payal Nath, Co-founder of Kadam Haat and Kadam Foundation, is among 75 women honoured as Women Transforming India by NITI Aayog this year. Payal grew up in different parts of India as an Army child and moved to Kolkata after marriage.
Prerna Mehra, who is a successful entrepreneur today, had always had an urge to make her mark. The urge was so strong that she started her fashion venture, Label Prerna Mehra, in 2014, at just seventeen! “I never liked having a non-productive day,” says Prerna, displaying her ambitious spirit.
“ I slept and dreamt that life was joy. I awoke and saw that life was service. I acted and behold, service was joy. ”
