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President's Message
The worst fears of global community came true with Russian invasion of Ukraine. Now entering in the fourth week, the invasion has devastated Ukraine with enormous loss of human life and infrastructure. There are estimates that to rebuild infrastructure what has been lost due to war Ukraine would need over US$ 100 Bn. For the global community the costs are not going to be less onerous. The commodity prices especially Crude, Gas, Copper, Nickel and Coal have soared between 150 to 250% since February. The Economist reports, for the first time in its 145 year old history, the London Metal Exchange had to be shutdown because of unprecedented rise in Nickel prices. Due to economic sanctions by US and EU on Russia- unprecedented in their spread and depth, have created an upheaval in supply chains. Trade and air routes have been realigned making logistics a nightmare for trade. All these developments are forcing production lags while demand is increasing after reopening of economies post Covid. It is fueling inflation. Sooner the interest rates would also head northwards. The world economy is entering in a new phase of uncertainty. MSMEs be watchful.
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When I started exploring the internet, I decided to utilize it in the most promising way. Learning new skills, generating networks and other essential things accompanied my growth. I founded my company, InstaEASY, in 2018, with just two employees. As an entrepreneur, I started building my network, developing my skills and making connections with people I could learn from. This began the journey to finding the best strategies for growth, which so far proved to be successful. ...
Inflation is likely to move beyond RBI’s comfort level
India should brace itself for a spike in inflation triggered by rising commodity prices due to Russia’s invasion of Ukraine
As the conflict between Russia and Ukraine escalates, prices in the economy are beginning to surge, creating several challenges for policy makers. While India’s direct trade with Russia is not significant, accounting for just 1 per cent of exports and 2.1 per cent of total imports,
India is moving towards becoming the fastest growing green economy of the world, Piyush Goyal, Minister of Commerce & Industry said today.
Addressing the seminar, 'Only One Earth - a discussion on Environment' at the India Pavilion, EXPO2020 Dubai virtually, Goyal said, "While we are proud to be the fastest-growing economy in the world, we hope to become the fastest-growing green economy across the planet." The session, organized in collaboration with Bhamla Foundation, aimed at raising awareness and the need to safeguard the environment, in line with the annual global theme laid out by the United Nations Environment Programme, 'Only One Earth' for the World Environment Day 2022.
Initiatives like PM-MITRA would enable embedding sustainability in the value chain and would make the industry future ready giving it a competitive edge globally, said Shubhra, Trade Advisor at Ministry of Textiles.
She talked about India’s policy, its sustainability targets and ambitions related to Indian textile industry and sustainability at a webinar on ‘India-France: Market Opportunities and Areas of Cooperation for a Sustainable Textile and Fashion’ organised by Embassy of India, Paris in collaboration with Apparel Export Promotion Council (AEPC).
MSME Ministry has extended the credit guarantee scheme for subordinate debt (CGSSD) by one more year till March 31, 2023.
The decision of extension was made on the basis of the requests received from the stakeholders of the scheme, said the official press release.
The government announced creation of ‘Distressed Assets Fund- - Subordinate Debt for Stressed MSMEs’ on May 13, 2020, under the Aatma Nirbhar Bharat Package. Accordingly, CGSSD was approved by the Government on June 1, 2020 and the scheme was launched on 24th June, 2020 to provide credit facility through lending institutions to the promoters of stressed MSMEs.
The central government and has set Rs 2 crore annual sales turnover as eligibility norm for MSME and startups in drone industry applying for Production Linked Incentive (PLI) scheme.
The last date for submitting the applications for the scheme is 31st March, 2022. For drone components, the bar is kept at Rs 50 lakhs, while the eligibility norm for non-MSME companies in terms of annual sales turnover has been kept at Rs 4 crore for drones and Rs 1 crore for drone components.
The scheme is a follow-through of the liberalised Drone Rules, 2021, is intended to catalyse super-normal growth in the upcoming drone sector.
The MSME Ministry today launched the MSME Innovative Scheme with the combination of existing sub-schemes around incubation, design, and intellectual property rights (IPR) for the Micro, Small and Medium Enterprises (MSMEs).
The new scheme would act as a hub for innovation activities facilitating and guiding the development of ideas into viable business propositions that can benefit society directly and can be marketed successfully.
BSE has signed an MoU with Onsurity Technologies, India’s first monthly subscription led new-age employee healthcare platform for MSMEs, to work collaboratively to facilitate and co-market their products and services to their respective network of small and medium enterprises (SMEs).
The Exchange said that through this MoU, BSE and Onsurity will plan and undertake seminars, public relations events, press releases, testimonials and demonstrations. They will also participate in trade shows, conventions, and conferences to build awareness about their respective business, amongst the SME Network.
The MSME Development Forum, West Bengal chapter has formed a new team and has appointed Dr. Mamta Binani as the President with an aim to create an accountable value system, provide vocational training to 2,000 individuals, placement for 1,000 people, and engage the use of technology.
Binani will look after the promotion and awareness programs that will benefit MSMEs in West Bengal and lead a team of 40 new executive team members.
The Micro, Small and Medium Enterprises (MSME) Department of Madhya Pradesh has been given a provision of Rs 2580 crore to boost the employment sector in its third supplementary budget.
Jagdish Devda, state finance minister tabled the Rs 15,232 crore budget on Thursday, and a two hour discussion will be instituted by the speaker today. For the finance department, a budgetary provision of Rs 742 crore has been made while Rs 375 crore for the energy department and for the labour department. Textile manufacturing and trading is considered as one of the oldest business in Madhya Pradesh which contributes significant to its economy with a strong presence of the MSME sector.
BSE, India’s Stock Exchange has partnered with MSME Trade and Investment Promotion Bureau (M-TIPB), Government of Tamil Nadu for promoting listing benefits among MSME companies on BSE SME platform.
SME representatives through District Industries Centres will be supported by M-TIPB to mobilise State or Regional Associations to encourage their SME members to attend capacity building programs. Meanwhile, BSE will accelerate capacity building and soft support to SMEs in Tamil Nadu for fulfilling listing requirements.
Franck Riester, French Minister for Foreign Trade who is on a two day visit to India from March 10-11. Union Minister of Commerce and Industry Piyush Goyal met Franck in the national capital and reviewed ways of boosting trade and investment ties between France and India.
Taking to Twitter, French Ambassador to India, Emmanuel Lenain said that both the ministers also discussed cooperation on reforming world trade and reshaping supply chains post COVID-19 pandemic.
Facilitating online trade and exhibition platform will increase marketing opportunities for small and medium enterprises (SMEs) in the two countries, said Minister of Industrial Development, SMEs and Cooperatives, Government of Mauritius, Soomilduth Bholah at a webinar organised by MVIRDC World Trade Center Mumbai.
“Such initiative will harness the benefits conferred by the India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA),” he added.
The two South Asian neighbouring countries India and Bangladesh have agreed upon for development of railway and port infrastructure to boost bilateral trade during the Commerce Secretary level meeting in New Delhi on Friday.
Joint Study on Comprehensive Economic Partnership Agreement (CEPA), Border Haats, Regional connectivity through Multi-Modal Transportation, Harmonization of Standards, Mutual Recognition Agreement were also the main areas of discussion.
All around the world, the sense of mistrust amongst employers seems to have risen, ever since the pandemic struck. A small survey conducted in October, 2021 revealed that almost a third of the employees in the US, (about 32 per cent) were aware that their employers had installed employee monitoring or surveillance tools to track their day-to-day working activity.
Indian Financial Sector Changes You Need To Look Out For In 2022
The ongoing pandemic has forced all sub-sectors within the banking and financial services industry to innovate. The true potential kicked off with digital transformation. Today, every Indian owns a smartphone and can digitally apply for a loan, complete e-KYC, open a bank account, order food, groceries and other essentials.
How to Bring Authenticity to Your Startup's Marketing Strategy
According to a study by Stackla, 90% of customers place a premium on authenticity when selecting which companies they like and support. But what exactly is authenticity? How can we show our customers that we're human and relatable and not just a brand with an agenda?
MSMEs fear closure due to surge in prices of some raw materials
The Micro, Small and Medium Enterprises (MSMEs) are being forced to shut down due to rise in prices of raw materials such as steel, Copper, Nickel, Zinc, and Ferro, said Punjab MSMEs.
To discuss this issue, Chamber of Industrial & Commercial Undertakings (CICU) held a meeting of Steering Committee highlighting the issue of steep hike in raw material and commodities prices.
This Hyderabad startup wants to usher in Industrial Revolution 4.0 with its hyper-automation solutions
With the onset of the COVID-19 pandemic, businesses realised they cannot go on as they wish to without leveraging technology, accelerating its faster adoption.
India is ushering in a ‘new industrial revolution,’ defined by the use of IoT, connectivity, artificial intelligence, machine learning, automation, advanced engineering, and many more technologies.
Meet the Sehgals who built a beverage brand that has grown 62 percent in three years
According to Aurum Equity Partners LLP, nearly 67 percent market share is held by the top five players, including Bisleri, PepsiCo, Coca-Cola, Parle, and Dhariwal.
Making a mark in this crowded market is Mumbai-based beverage company Xotik Frujus. Founded in 2007 by Rajeev Sehgal, the beverage business is now run by him and his three children, Ankita, Vishakha, and Dishank Sehgal.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) has released All India Consumer Price Index (CPI) on Base 2012=100 and corresponding Consumer Food Price Index (CFPI) for Rural (R), Urban (U) and Combined (C) for the month of February 2022 (Provisional).
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 worst fears of global community came true with Russian invasion of Ukraine. Now entering in the fourth week, the invasion has devastated Ukraine with enormous loss of human life and infrastructure. There are estimates that to rebuild infrastructure what has been lost due to war Ukraine would need over US$ 100 Bn. For the global community the costs are not going to be less onerous. The commodity prices especially Crude, Gas, Copper, Nickel and Coal have soared between 150 to 250% since February. The Economist reports, for the first time in its 145 year old history, the London Metal Exchange had to be shutdown because of unprecedented rise in Nickel prices. Due to economic sanctions by US and EU on Russia- unprecedented in their spread and depth, have created an upheaval in supply chains. Trade and air routes have been realigned making logistics a nightmare for trade. All these developments are forcing production lags while demand is increasing after reopening of economies post Covid. It is fueling inflation. Sooner the interest rates would also head northwards. The world economy is entering in a new phase of uncertainty. MSMEs be watchful.
"
India is moving towards becoming the fastest growing green economy of the world, Piyush Goyal, Minister of Commerce & Industry said today.
Addressing the seminar, 'Only One Earth - a discussion on Environment' at the India Pavilion, EXPO2020 Dubai virtually, Goyal said, "While we are proud to be the fastest-growing economy in the world, we hope to become the fastest-growing green economy across the planet." The session, organized in collaboration with Bhamla Foundation, aimed at raising awareness and the need to safeguard the environment, in line with the annual global theme laid out by the United Nations Environment Programme, 'Only One Earth' for the World Environment Day 2022.
Initiatives like PM-MITRA would enable embedding sustainability in the value chain and would make the industry future ready giving it a competitive edge globally, said Shubhra, Trade Advisor at Ministry of Textiles.
She talked about India’s policy, its sustainability targets and ambitions related to Indian textile industry and sustainability at a webinar on ‘India-France: Market Opportunities and Areas of Cooperation for a Sustainable Textile and Fashion’ organised by Embassy of India, Paris in collaboration with Apparel Export Promotion Council (AEPC).
MSME Ministry has extended the credit guarantee scheme for subordinate debt (CGSSD) by one more year till March 31, 2023.
The decision of extension was made on the basis of the requests received from the stakeholders of the scheme, said the official press release.
The government announced creation of ‘Distressed Assets Fund- - Subordinate Debt for Stressed MSMEs’ on May 13, 2020, under the Aatma Nirbhar Bharat Package. Accordingly, CGSSD was approved by the Government on June 1, 2020 and the scheme was launched on 24th June, 2020 to provide credit facility through lending institutions to the promoters of stressed MSMEs.
The central government and has set Rs 2 crore annual sales turnover as eligibility norm for MSME and startups in drone industry applying for Production Linked Incentive (PLI) scheme.
The last date for submitting the applications for the scheme is 31st March, 2022. For drone components, the bar is kept at Rs 50 lakhs, while the eligibility norm for non-MSME companies in terms of annual sales turnover has been kept at Rs 4 crore for drones and Rs 1 crore for drone components.
The scheme is a follow-through of the liberalised Drone Rules, 2021, is intended to catalyse super-normal growth in the upcoming drone sector.
The MSME Ministry today launched the MSME Innovative Scheme with the combination of existing sub-schemes around incubation, design, and intellectual property rights (IPR) for the Micro, Small and Medium Enterprises (MSMEs).
The new scheme would act as a hub for innovation activities facilitating and guiding the development of ideas into viable business propositions that can benefit society directly and can be marketed successfully.
BSE has signed an MoU with Onsurity Technologies, India’s first monthly subscription led new-age employee healthcare platform for MSMEs, to work collaboratively to facilitate and co-market their products and services to their respective network of small and medium enterprises (SMEs).
The Exchange said that through this MoU, BSE and Onsurity will plan and undertake seminars, public relations events, press releases, testimonials and demonstrations. They will also participate in trade shows, conventions, and conferences to build awareness about their respective business, amongst the SME Network.
The MSME Development Forum, West Bengal chapter has formed a new team and has appointed Dr. Mamta Binani as the President with an aim to create an accountable value system, provide vocational training to 2,000 individuals, placement for 1,000 people, and engage the use of technology.
Binani will look after the promotion and awareness programs that will benefit MSMEs in West Bengal and lead a team of 40 new executive team members.
The Micro, Small and Medium Enterprises (MSME) Department of Madhya Pradesh has been given a provision of Rs 2580 crore to boost the employment sector in its third supplementary budget.
Jagdish Devda, state finance minister tabled the Rs 15,232 crore budget on Thursday, and a two hour discussion will be instituted by the speaker today. For the finance department, a budgetary provision of Rs 742 crore has been made while Rs 375 crore for the energy department and for the labour department. Textile manufacturing and trading is considered as one of the oldest business in Madhya Pradesh which contributes significant to its economy with a strong presence of the MSME sector.
BSE, India’s Stock Exchange has partnered with MSME Trade and Investment Promotion Bureau (M-TIPB), Government of Tamil Nadu for promoting listing benefits among MSME companies on BSE SME platform.
SME representatives through District Industries Centres will be supported by M-TIPB to mobilise State or Regional Associations to encourage their SME members to attend capacity building programs. Meanwhile, BSE will accelerate capacity building and soft support to SMEs in Tamil Nadu for fulfilling listing requirements.
Franck Riester, French Minister for Foreign Trade who is on a two day visit to India from March 10-11. Union Minister of Commerce and Industry Piyush Goyal met Franck in the national capital and reviewed ways of boosting trade and investment ties between France and India.
Taking to Twitter, French Ambassador to India, Emmanuel Lenain said that both the ministers also discussed cooperation on reforming world trade and reshaping supply chains post COVID-19 pandemic.
Facilitating online trade and exhibition platform will increase marketing opportunities for small and medium enterprises (SMEs) in the two countries, said Minister of Industrial Development, SMEs and Cooperatives, Government of Mauritius, Soomilduth Bholah at a webinar organised by MVIRDC World Trade Center Mumbai.
“Such initiative will harness the benefits conferred by the India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA),” he added.
The two South Asian neighbouring countries India and Bangladesh have agreed upon for development of railway and port infrastructure to boost bilateral trade during the Commerce Secretary level meeting in New Delhi on Friday.
Joint Study on Comprehensive Economic Partnership Agreement (CEPA), Border Haats, Regional connectivity through Multi-Modal Transportation, Harmonization of Standards, Mutual Recognition Agreement were also the main areas of discussion.
According to the FISME factor, 100% of MSMEs think that the Russia-Ukraine war will have a moderate impact on Indian economy. 
All around the world, the sense of mistrust amongst employers seems to have risen, ever since the pandemic struck. A small survey conducted in October, 2021 revealed that almost a third of the employees in the US, (about 32 per cent) were aware that their employers had installed employee monitoring or surveillance tools to track their day-to-day working activity.
The ongoing pandemic has forced all sub-sectors within the banking and financial services industry to innovate. The true potential kicked off with digital transformation. Today, every Indian owns a smartphone and can digitally apply for a loan, complete e-KYC, open a bank account, order food, groceries and other essentials.
According to a study by Stackla, 90% of customers place a premium on authenticity when selecting which companies they like and support. But what exactly is authenticity? How can we show our customers that we're human and relatable and not just a brand with an agenda?
The Micro, Small and Medium Enterprises (MSMEs) are being forced to shut down due to rise in prices of raw materials such as steel, Copper, Nickel, Zinc, and Ferro, said Punjab MSMEs.
To discuss this issue, Chamber of Industrial & Commercial Undertakings (CICU) held a meeting of Steering Committee highlighting the issue of steep hike in raw material and commodities prices.
With the onset of the COVID-19 pandemic, businesses realised they cannot go on as they wish to without leveraging technology, accelerating its faster adoption.
India is ushering in a ‘new industrial revolution,’ defined by the use of IoT, connectivity, artificial intelligence, machine learning, automation, advanced engineering, and many more technologies.
According to Aurum Equity Partners LLP, nearly 67 percent market share is held by the top five players, including Bisleri, PepsiCo, Coca-Cola, Parle, and Dhariwal.
Making a mark in this crowded market is Mumbai-based beverage company Xotik Frujus. Founded in 2007 by Rajeev Sehgal, the beverage business is now run by him and his three children, Ankita, Vishakha, and Dishank Sehgal.
“I slept and dreamt that life was joy. I awoke and saw that life was service. I acted and behold, service was joy. ”
