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President's Message
The Global economy has barely come out of Covid woods that it is forced to brace for a man-made disaster: Russia – Ukraine conflict. The tremors of the war will be felt immediately on essential commodities like Oil but eventually spread to all segments of economy transport and logistics, food, FMCG etc. Inflation, which has been already threatening even the advance economies like US, will rise and have a crippling impact on poor countries pulling down economic growth and jobs. Another impact will be on business sentiments. Who will think of investing in factories when war clouds are the air? During one year, Indian exporters have been able to carve out a niche in GVCs of labour intensive sectors like apparel and leather. The disruption in sea and air routes can threaten blossoming of these green shoots. One lesson that needs to be learnt from the events of last few years is that India needs to focus on securing trade routes and invest in shipping lines to contain rising risks in doing trade. Indian Government is engaged in evacuation of thousands of stranded Indian students in Ukraine. In the times of crisis, a similar response is required to secure international routes for Indian goods to ensure trust on Brand India.
"
FISME organised a discussion to analyze the important proposals of ‘Union Budget 2022-23 and its impact on MSMEs’ on 16th Feb 2022 at 4 PM virtually through Zoom.
The objective was twofold: first, to share nuances of specific announcements directly related to MSMEs in the budget (Ministries such as MSME, Commerce & industry, Finance etc).
Secondly, to analyze the Budget in larger context as to how the big outlays proposed in the budget are likely to impact economy: the demand in specific sectors, impact on cost and availability of finance due to fiscal deficit & money supply among others, likely response of key economic actors such as private sector, States, FIs etc.
To help decode the issues, FISME invited Mr. Abhijit Das (Director, Center for WTO Studies), Mr. Bipin Menon (Development Commissioner Noida SEZ, Mr. Rajiv Dubey (Editor in Chief, Fortune India & former Editor Business Today), Mr. T. K. Arun (Editor, The Economic Times), Dr. Vikash Gautam (Economist) and Mr. Vikash Khandelwal, CEO, Eqaro Guarantees as a panelist.
Competition is mounting, so don't waste time and money solving non-existent problems.
According to the Bureau of Labor Statistics, 20% of startups are closed in the first year, and half of them within the first five years. CBInsights reports 35% of startups fail because of a lack of market demand, among others failure reasons — cash flow problems, getting outcompeted, a flawed business model and legal challenges. I wasn’t passionate about wasting time and money solving non-existent problems, so before launching my business, I committed to doing great analytic work with my team. ...
NEW DELHI: The ongoing conflict between Russia and Ukraine may impact certain high-frequency indicators like financial
markets, exchange rate and crude prices in the short-term, a report by State Bank of India (SBI) economists showed.
However, it noted that this moment will not have any lasting impact on the Indian economy. A few days ago, finance minister Nirmala Sitharaman had flag ..
India’s export of electronic goods increased by almost 88 per cent from USD 6600 Million in 2013-14 to USD 12,400 Million in 2021-22.
Mobile phones, IT hardware (laptops, tablets), consumer electronics (TV and audio), industrial electronics and auto electronics are key exports in this sector, said the official press release. This growth has been consistent as India’s merchandise export in January 2022 increased by 23.69 per cent to USD 34.06 billion over USD 27.54 billion in January 2021; recording an increase of 31.75 per cent over USD 25.85 billion in January 2020.
The Department of Commerce is set to undergo transformative changes towards evolving into a 'future ready' establishment of the Government with scaling up, strengthening, and infusion of 'new age' capabilities leading to an ecosystem which can achieve USD 2 trillion exports by 2027, the Ministry said. A review exercise by Commerce and Industry Minister Piyush Goyal has called for revamping of the Department of Commerce, fortification, and consistent strengthening of trade and investment promotion bodies including the Directorate General of Foreign Trade (DGFT).
The Ministry of Electronics and IT and the Startup India Seed Fund Scheme has awarded 14 start-ups in Hyderabad.
It was presented at an event organised by the Association of Lady Entrepreneurs of India’s (ALEAP) WE HUB manufacturing multi-sector business incubator. Principal Secretary Jayesh Ranjan presented the awards at Park Hyatt, Banjara Hills in Hyderabad.He appreciated the exceptional work done by AIC ALEAP We Hub for women entrepreneurs. As much as Rs 1.67 crore was disbursed to start-ups across the country, supported by the Atal Innovation Mission, NITI Aayog.
Union Bank of India (UBI), in association with National Payments Corporation of India (NPCI), has launched ‘Union MSME RuPay Credit Card’ for meeting business related operational expenses of Micro, Small & Medium Enterprises (MSMEs).
This card comes with interest free credit up to 50 days. This card comes with interest free credit up to 50 days.
The public sector bank said in a statement “The dedicated card for MSMEs is available to eligible borrowers of Union Bank of India. The card also offers EMI facility to the customers on their business-related purchases.”
Union MSME Minister Narayan Rane announced the formation of MSME Technology Centre worth Rs 200 crore at Sindhudurg in Maharashtra on Friday during the inaugural session of two-day MSME Conclave in the presence of senior government officials.
One the first day, MSME Minister Rane said, "The Ministry is presently focussing to create a benchmark for MSMEs across the country by scaling them to new heights in terms of exports, quality of products, contribution to GDP and providing World class infrastructure to all MSMEs in India.”
Capri Global Capital Ltd. (CGCL), a NBFC (NBFC-ND-SI) MSME lender aims to build a gold loan book size of Rs. 8,000 crore and expand its network with 1500 branch locations over the next five years as it plans to enter the gold loan business in first half of FY23.
Speaking about the business diversification, Rajesh Sharma, Managing Director, Capri Global Capital Ltd. said, “This is in line with our long-term expansion strategy. We see immense scope in the gold loan market as financial distress due to the pandemic has increased demand for credit across low-to-medium income households. Due to the emotional value associated with gold, people pledge their gold as collateral and secure a short-term loan rather than selling it.
Haryana Chief Minister Manohar Lal Khatter and Deputy Chief Minister Dushyant Chautala launched a Program to Accelerate Development for MSME Advancement (PADMA) at Chandigarh.
There is a proposal to develop nearly 14, 000 new micro, small & medium enterprises (MSME) in 140 small clusters in about 6000 acre area in the state which will not only provide employment opportunities to 3 to 3.5 lakh unemployed youths but also bring investment for amount worth rupees 25 to 30 thousand crore in Haryana state.
The Government of Maharashtra launched the state's Agriculture Export Policy (AEP) which will focus on export promotion of 21 agricultural commodities.
The Government of India had unveiled its Agriculture Export Policy in December 2018, directing the state governments to draft their own policy.
Accordingly, the state government had constituted a committee in May 2019 to draft the policy. Some of the activities envisaged under the AEP include, infrastructure creation, export of organic products, export of products registered under Geographical Indication, developing sea protocol and trial consignments, hiring international consultants for post harvest management, declaration of pest free area for certain products and implementation of effective traceability system.
The Kerala government has claimed that it has issued MSME acknowledgement certificates to around 11,878 MSMEs to start their business in the State.
This was said by Governor of Kerala Arif Mohammed Khan at the beginning of the state budget session on Friday.
Speaking about the industrial policy, he said that the government is working on a scheme for private industrial park which will be launched this year, and assistance for infrastructure development in the park would be provide by the government.
Highlighting the significance of environmental social governance (ESG), he said that a new programme giving boost to ESG is currently being promoted to garner responsible investments.
The Comprehensive Economic Partnership Agreement (CEPA) will open vistas of trade opportunities, both of goods and services, besides investment between India and UAE, said Dr A Sakthivel, President, Federation of Indian Export Organisations (FIEO).
He called it a historic pact which will immensely facilitate trade and investment further cementing strategic ties between India & UAE.
FIEO has expressed their support on the signing of India-UAE Comprehensive Economic Partnership Agreement (CEPA), the first in the last 12 year with a major economy.
Foxconn and Vedanta have recently signed a MOU to manufacture semiconductors in India. This first-of-its-kind joint venture between the two companies will support the Prime Minister’s vision to create an ecosystem for semiconductor manufacturing in India.
Foxconn in a statement said that “This first-of-its-kind joint venture between the two companies will support Indian Prime Minister Narendra Modi’s vision to create an ecosystem for semiconductor manufacturing in India.”
The statement further stated “It will provide a significant boost to domestic manufacturing of electronics in India. Discussions are currently ongoing with a few state governments to finalize the location of the plant,”.
The pandemic has changed, among other things, the HR lexicon. Along with the usual buzzwords like retention, attrition, on-boarding and behavioural competency, what you will also hear in hallowed HR townhalls these days are terms like empathy, compassion, human connection and care.
14 Experts Share ‘Finance 101’ Tips For New Entrepreneurs
Keeping tight control of the finances is an essential part of running a successful business—especially when that business is just getting off the ground. However, without prior experience in business finance, new entrepreneurs may face a large learning curve at first.
How to Gauge Marketing Success in a Shifting Business Landscape
While the business world has always required a certain level of adaptability from big and small businesses, it’s become increasingly important to be able to shift not only your approaches, but also your measurements of success. What could have been a huge success 10 or even five years ago, like a traditional billboard, may no longer make sense to measure against for customers today, who are focused on authenticity first and visibility second.
Tamil Nadu CCI asks State govt to exempt MSMEs from approvals & inspections for next 3 years
The Confederation of Indian Industry (CII), Tamil Nadu chapter has suggested the State Finance Minister Dr Palanivel Thiaga Rajan to exempt state's micro, small and medium enterprises (MSMEs) from approvals and inspections for the next three years.
From Ayodhya to 30 countries: how this sustainable paper business beat all odds to clock Rs 300 Cr turnover
The story of Ved Krishna’s roller-coaster life is the perfect example of the saying: ‘when one door closes, another one opens’. Ved had always dreamt of becoming an Air Force pilot. However, destiny had other plans for him.
A toy story: how working with international toy brands led two engineers to start their own manufacturing company
According to a report by Invest India, the Indian toy market, which is currently pegged at $1.5 billion, has the potential to double up and reach between $2-$3 billion by 2024. Moreover, India’s market share in the global market is only 0.5 percent, indicating a massive opportunity to leverage.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) has released the Second Advance Estimates (SAE) of National Income 2021-22 and quarterly estimates of GDP for the third quarter (q3) of 2021-22.
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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The Global economy has barely come out of Covid woods that it is forced to brace for a man-made disaster: Russia – Ukraine conflict. The tremors of the war will be felt immediately on essential commodities like Oil but eventually spread to all segments of economy transport and logistics, food, FMCG etc. Inflation, which has been already threatening even the advance economies like US, will rise and have a crippling impact on poor countries pulling down economic growth and jobs. Another impact will be on business sentiments. Who will think of investing in factories when war clouds are the air? During one year, Indian exporters have been able to carve out a niche in GVCs of labour intensive sectors like apparel and leather. The disruption in sea and air routes can threaten blossoming of these green shoots. One lesson that needs to be learnt from the events of last few years is that India needs to focus on securing trade routes and invest in shipping lines to contain rising risks in doing trade. Indian Government is engaged in evacuation of thousands of stranded Indian students in Ukraine. In the times of crisis, a similar response is required to secure international routes for Indian goods to ensure trust on Brand India.
"
FISME organised a discussion to analyze the important proposals of ‘Union Budget 2022-23 and its impact on MSMEs’ on 16th Feb 2022 at 4 PM virtually through Zoom.
The objective was twofold: first, to share nuances of specific announcements directly related to MSMEs in the budget (Ministries such as MSME, Commerce & industry, Finance etc).
Secondly, to analyze the Budget in larger context as to how the big outlays proposed in the budget are likely to impact economy: the demand in specific sectors, impact on cost and availability of finance due to fiscal deficit & money supply among others, likely response of key economic actors such as private sector, States, FIs etc.
To help decode the issues, FISME invited Mr. Abhijit Das (Director, Center for WTO Studies), Mr. Bipin Menon (Development Commissioner Noida SEZ, Mr. Rajiv Dubey (Editor in Chief, Fortune India & former Editor Business Today), Mr. T. K. Arun (Editor, The Economic Times), Dr. Vikash Gautam (Economist) and Mr. Vikash Khandelwal, CEO, Eqaro Guarantees as a panelist.
Competition is mounting, so don't waste time and money solving non-existent problems.
According to the Bureau of Labor Statistics, 20% of startups are closed in the first year, and half of them within the first five years. CBInsights reports 35% of startups fail because of a lack of market demand, among others failure reasons — cash flow problems, getting outcompeted, a flawed business model and legal challenges. I wasn’t passionate about wasting time and money solving non-existent problems, so before launching my business, I committed to doing great analytic work with my team. ...
India’s export of electronic goods increased by almost 88 per cent from USD 6600 Million in 2013-14 to USD 12,400 Million in 2021-22.
Mobile phones, IT hardware (laptops, tablets), consumer electronics (TV and audio), industrial electronics and auto electronics are key exports in this sector, said the official press release. This growth has been consistent as India’s merchandise export in January 2022 increased by 23.69 per cent to USD 34.06 billion over USD 27.54 billion in January 2021; recording an increase of 31.75 per cent over USD 25.85 billion in January 2020.
The Department of Commerce is set to undergo transformative changes towards evolving into a 'future ready' establishment of the Government with scaling up, strengthening, and infusion of 'new age' capabilities leading to an ecosystem which can achieve USD 2 trillion exports by 2027, the Ministry said. A review exercise by Commerce and Industry Minister Piyush Goyal has called for revamping of the Department of Commerce, fortification, and consistent strengthening of trade and investment promotion bodies including the Directorate General of Foreign Trade (DGFT).
The Ministry of Electronics and IT and the Startup India Seed Fund Scheme has awarded 14 start-ups in Hyderabad.
It was presented at an event organised by the Association of Lady Entrepreneurs of India’s (ALEAP) WE HUB manufacturing multi-sector business incubator. Principal Secretary Jayesh Ranjan presented the awards at Park Hyatt, Banjara Hills in Hyderabad.He appreciated the exceptional work done by AIC ALEAP We Hub for women entrepreneurs. As much as Rs 1.67 crore was disbursed to start-ups across the country, supported by the Atal Innovation Mission, NITI Aayog.
Union Bank of India (UBI), in association with National Payments Corporation of India (NPCI), has launched ‘Union MSME RuPay Credit Card’ for meeting business related operational expenses of Micro, Small & Medium Enterprises (MSMEs).
This card comes with interest free credit up to 50 days. This card comes with interest free credit up to 50 days.
The public sector bank said in a statement “The dedicated card for MSMEs is available to eligible borrowers of Union Bank of India. The card also offers EMI facility to the customers on their business-related purchases.”
Union MSME Minister Narayan Rane announced the formation of MSME Technology Centre worth Rs 200 crore at Sindhudurg in Maharashtra on Friday during the inaugural session of two-day MSME Conclave in the presence of senior government officials.
One the first day, MSME Minister Rane said, "The Ministry is presently focussing to create a benchmark for MSMEs across the country by scaling them to new heights in terms of exports, quality of products, contribution to GDP and providing World class infrastructure to all MSMEs in India.”
Capri Global Capital Ltd. (CGCL), a NBFC (NBFC-ND-SI) MSME lender aims to build a gold loan book size of Rs. 8,000 crore and expand its network with 1500 branch locations over the next five years as it plans to enter the gold loan business in first half of FY23.
Speaking about the business diversification, Rajesh Sharma, Managing Director, Capri Global Capital Ltd. said, “This is in line with our long-term expansion strategy. We see immense scope in the gold loan market as financial distress due to the pandemic has increased demand for credit across low-to-medium income households. Due to the emotional value associated with gold, people pledge their gold as collateral and secure a short-term loan rather than selling it.
Haryana Chief Minister Manohar Lal Khatter and Deputy Chief Minister Dushyant Chautala launched a Program to Accelerate Development for MSME Advancement (PADMA) at Chandigarh.
There is a proposal to develop nearly 14, 000 new micro, small & medium enterprises (MSME) in 140 small clusters in about 6000 acre area in the state which will not only provide employment opportunities to 3 to 3.5 lakh unemployed youths but also bring investment for amount worth rupees 25 to 30 thousand crore in Haryana state.
The Government of Maharashtra launched the state's Agriculture Export Policy (AEP) which will focus on export promotion of 21 agricultural commodities.
The Government of India had unveiled its Agriculture Export Policy in December 2018, directing the state governments to draft their own policy.
Accordingly, the state government had constituted a committee in May 2019 to draft the policy. Some of the activities envisaged under the AEP include, infrastructure creation, export of organic products, export of products registered under Geographical Indication, developing sea protocol and trial consignments, hiring international consultants for post harvest management, declaration of pest free area for certain products and implementation of effective traceability system.
The Kerala government has claimed that it has issued MSME acknowledgement certificates to around 11,878 MSMEs to start their business in the State.
This was said by Governor of Kerala Arif Mohammed Khan at the beginning of the state budget session on Friday.
Speaking about the industrial policy, he said that the government is working on a scheme for private industrial park which will be launched this year, and assistance for infrastructure development in the park would be provide by the government.
Highlighting the significance of environmental social governance (ESG), he said that a new programme giving boost to ESG is currently being promoted to garner responsible investments.
The Comprehensive Economic Partnership Agreement (CEPA) will open vistas of trade opportunities, both of goods and services, besides investment between India and UAE, said Dr A Sakthivel, President, Federation of Indian Export Organisations (FIEO).
He called it a historic pact which will immensely facilitate trade and investment further cementing strategic ties between India & UAE.
FIEO has expressed their support on the signing of India-UAE Comprehensive Economic Partnership Agreement (CEPA), the first in the last 12 year with a major economy.
Foxconn and Vedanta have recently signed a MOU to manufacture semiconductors in India. This first-of-its-kind joint venture between the two companies will support the Prime Minister’s vision to create an ecosystem for semiconductor manufacturing in India.
Foxconn in a statement said that “This first-of-its-kind joint venture between the two companies will support Indian Prime Minister Narendra Modi’s vision to create an ecosystem for semiconductor manufacturing in India.”
The statement further stated “It will provide a significant boost to domestic manufacturing of electronics in India. Discussions are currently ongoing with a few state governments to finalize the location of the plant,”.
According to the FISME factor, 60% of MSMEs think that excessive compliances in Indian business laws are burdensome on them while 40% can’t say. 
The pandemic has changed, among other things, the HR lexicon. Along with the usual buzzwords like retention, attrition, on-boarding and behavioural competency, what you will also hear in hallowed HR townhalls these days are terms like empathy, compassion, human connection and care.
Keeping tight control of the finances is an essential part of running a successful business—especially when that business is just getting off the ground. However, without prior experience in business finance, new entrepreneurs may face a large learning curve at first.
While the business world has always required a certain level of adaptability from big and small businesses, it’s become increasingly important to be able to shift not only your approaches, but also your measurements of success. What could have been a huge success 10 or even five years ago, like a traditional billboard, may no longer make sense to measure against for customers today, who are focused on authenticity first and visibility second.
The Confederation of Indian Industry (CII), Tamil Nadu chapter has suggested the State Finance Minister Dr Palanivel Thiaga Rajan to exempt state's micro, small and medium enterprises (MSMEs) from approvals and inspections for the next three years.
The story of Ved Krishna’s roller-coaster life is the perfect example of the saying: ‘when one door closes, another one opens’. Ved had always dreamt of becoming an Air Force pilot. However, destiny had other plans for him.
According to a report by Invest India, the Indian toy market, which is currently pegged at $1.5 billion, has the potential to double up and reach between $2-$3 billion by 2024. Moreover, India’s market share in the global market is only 0.5 percent, indicating a massive opportunity to leverage.
“The greatest glory in living lies not in never falling, but in rising every time we fall. ”
