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President Message
RBI’s sudden increase in Repo rates by 40 percentage points in one go, highlights the severity of inflation. The surge in inflation is partly due to Covid led disruptions in supply chains and now substantially because of Ukraine war impact petroleum as well as food prices globally. Retail price inflation in India reached to 8% in April. Many experts fear we might be heading for stagflation: a scenario of high-inflation but low growth. But most experts believe that growth in India will remain robust. The growth rate could be pushed further by set of initiatives Government is contemplating in ecommerce, telecom, financial sector and infrastructure etc. I feel, once the war is halted, the growth momentum in India will further pickup. The time should be used to set our house in order: make financial markets efficient through digital intervention and regulatory ease, transform public procurement and leverage it for augmenting industrialization and improving our industrial infrastructure. The combined effect of these measures will be on the scale of economy that manufacturers would be able to build. This is what I intend to focus on during my tenure.
"
Growing a small business can be a challenge — and that’s an understatement! It’s easy to set goals for a new venture, and much more difficult to execute them. At times, it can even seem almost impossible to find the steps that should be taken between the current reality of your company and the future that you’ve envisioned for it. If you’ve started your business with the MVP model, you’re likely itching to get to the next level. But, as with other aspects of growing a business, it definitely doesn’t happen overnight.
Surpassing consensus estimates by a significant margin, retail inflation, as measured by the consumer price index, rose to an eight-year high of 7.8 per cent in April as per data released by the National Statistical Office. This is now the fourth straight month that inflation has come in above the upper threshold of the central bank’s inflation targeting framework. The latest data only affirms...
India has recorded a 30.7 per cent rise in merchandise exports to USD 40.19 billion with as trade deficit widened to USD 20.11 billion in the month of April, 2022.
The sectors that performed well are petroleum products, electronic goods and chemicals, said the commerce ministry on Friday. Engineering goods exports increased by 15.38 per cent to USD 9.2 billion, while petroleum products exports soared 113.21 per cent to USD 7.73 billion.
Imports during the month under review grew by 30.97 per cent to USD 60.3 billion. The trade deficit in April 2021 was at $15.29 billion.
The Reserve Bank of India (RBI) is expected to increase its inflation projection for the current financial year and consider hikes in interest rates at its June monetary policy meeting.
As per media reports, the inflation forecast by the central bank will be raised again during the meeting of MPC which will take place from June 6-8. Earlier this month the RBI decided to raise the repo rate by 40 basis points to 4.40 per cent in a bid to tame the rising inflation in the country. In April, RBI raised its inflation forecast for the current fiscal year to 5.7 per cent, 120 bps above its forecast in February, while cutting its economic growth forecast to 7.2 per cent for 2022-23 from 7.8 per cent.
In a bid to tame the rising inflation in the country, the Reserve Bank of India (RBI) has decided to raise the repo rate by 40 basis points to 4.40%, Governor Shaktikanta Das announced in a virtual address today.
Das said “Shortages and volatility in commodities and financial markets are becoming more acute. We have demonstrated in the Monetary Policy Committee that we are not bound by a set book of rules but be accommodative of changing scenarios,” he said. Last month, the Central Bank kept two benchmark economy-wide interest rates unchanged at record lows, a signal that the RBI continued to prioritize growth recovery despite inflationary winds sweeping the world and India in the aftermath of the Russia-Ukraine conflict.
Clix Capital, a digital-lending NBFC announced that it aims to disburse Rs 1,000 crore in unsecured MSME loans to the underserved micro-enterprises across nine major cities in India by the end of this fiscal year.
Making the announcement on Thursday, Rakesh Kaul, CEO – Clix Capital said this is a step towards achieving the company’s vision to simplify lending and enable financial inclusion. Delhi, Jaipur, Chandigarh, Mumbai, Pune, Ahmedabad, Bangalore, Hyderabad and Chennai are the nine cities where the offering is readily available to MSMEs.
Union Minister for MSME Narayan Rane launched the second phase of MSME RuPay Credit Card and has called upon the field officers to achieve the targets of growth of MSME in their respective areas within the stipulated period.
Addressing the National conference of MSME- Development Institutes, Testing Centres and Technology Centres on Tuesday he said that this conference will contribute in shaping the vision of Aatma Nirbhar Bharat initiated by Prime Minister Narendra Modi.
After attending the ‘Coir Conclave’ in Coimbatore, MSME Minister Narayan Rane visited Pushpak Products India Pvt Ltd’s manufacturing facility in Bidadi, Karnataka to get direct experience of a MSME operations and coir wood furniture production.
Minister was keen on understanding the depth of each of the products and shared his views and scope of improvement for the manufacturing facility. Expressing gratitude to the minister Pushpak Prakash, Founder & Managing Director of Pushpak Group and CEC member of Federation of Indian Micro and Small & Medium Enterprises (FISME) said, “We were humbled to share, discuss and learn immensely from his knowledge in every segment of the industry.”
The State Cabinet of Kerala has decided to allow institutions and companies, statutory boards/societies/apex cooperatives under the State government to settle bills for MSMEs and distributors of good and services on the Trade Receivables Discounting System (TReDS) platform.
It has also approved local self-government institutions to participate on the TReDS platform. Introduced by the Reserve Bank of India (RBI), TReDS is an electronic platform for facilitating the financing/discounting of trade receivables of MSMEs through multiple financiers.
The Andhra Pradesh State Cabinet has approved the much awaited Export Promotion Policy 2022-27 as well as the Logistics Policy 2022-27.
It was the first meeting after rearrangement of the State Cabinet under the Chairmanship of Chief Minister YS Jagan Mohan Reddy. The government also decided to start the kharif season early by releasing water to Godavari delta from June 1, Krishna delta and Guntur Channel from June 10.
Water will be released to farmers of ayacut of Somasila, Gandikota, Chitravati, Bramhamsagar projects from July 10 and Nagarjuna Sagar project from July 15.
The District level committee of Ludhiana has granted exemption to 4 industrial units on electricity duty and 1 unit from CLU/EDC charges.
During a meeting held on Friday at Bachat Bhawan under the Chairmanship of Deputy Commissioner, Ludhiana it was also decided to grant 8 units with In-Principle Approval under Right to Business Act. The meeting was held to for the Commissioner to consider cases for giving benefits like Electricity Duty and CLU/EDC Exemption and In-Principle Approval for setting up their Industrial units.
To boost the industrial development and employment opportunities, the Rajasthan government is working on a new Micro, Small and Medium Enterprises (MSME) policy.
The policy will protect the MSME sector with new incentives and facilities, said State Industries Commissioner Mahendra Kumar Parakh. Some of the significant features being considered for the new policy formulation are single window system, industrial clusters, smart industrial areas and easy availability of finance, said the Commissioner at the policy meeting. The State government will include suggestions for infrastructure development for industries, training for capacity building, better marketing support etc.
The Commerce Minister Piyush Goyal launched the India-UAE Startup bridge a part of Comprehensive Economic Partnership Agreement (CEPA) signed between the two countries recently.
It will facilitate joint training sessions for incubators in India and the UAE, providing market access information to startups. Speaking at the inaugural session organised by CCI, he said that the agreement will open doors to Indian labour and incentivise sectors.
Sector such as textiles, gems, jewellery and leather, will be given access to the UAE market, he said.
Welcoming the ongoing "intense cooperation" across all defence domains, India and France have agreed to find creative ways for deeper involvement of French companies in 'Atmanirbhar Bharat' efforts in defence technology, manufacturing and exports according to a joint statement.
A joint statement issued after Prime Minister Narendra Modi met French President Emmanuel Macron underscored that the long-standing armament cooperation is testimony to the mutual trust between the two countries.
India and Germany have agreed to work together in the domain of Artificial Intelligence (AI). As part of the collaboration, the two sides will work together to advance AI-based startups and research.
The announcement is part of the overarching cooperation between the two sides in science and technology. The two governments have roped in academic institutions and local industries to further strategic research and development in the AI arena.
How coaching can support leaders in managing the return to office
The corporate world has been abuzz recently with more organisations mandating that employees return to the office. While some have welcomed the move with open arms and excitement, many are resistant and do not see the real need behind this mandate. Managers are now faced with yet another challenge as they manage and navigate this change, not only for their organisation and teams, but also for themselves.
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.
5 Strategies to Boost Your Personal Branding in 2022
We sought the guidance of industry-leading experts who suggested that it does not matter if you are selling the same product as everyone else is selling on the market or something different. What matters is how you sell it.
The "how" can be simply answered by the way your customers portray you and your brand. Personal branding is thus a process by which you intentionally project yourself how you want your customers to view you. It helps you raise self-awareness and identify your potential weaknesses, strengths, and opportunities.
Odisha’s MSME hub project caught up in CMC-IDCO dispute
The transformation of Jagatpur Industrial Estate (JIE) into a model MSME hub of Odisha has been delayed owing to the rift between the Cuttack Municipal Corporation (CMC) and Odisha Industrial Infrastructure Development Corporation (IDCO) as the municipality has sided with encroachers in the wake of eviction notice issued by IDCO.
Commenting on the matter CMC Mayor Subhas Singh has stated that there is no chance of eviction of any slum without the consent of CMC as the civic body is the enforcement agency.
How agritech startup Poshn is bringing order in a fragmented sector
The first thing that strikes anyone about the agricultural sector in India is how fragmented and low on discovery it is at a grassroots level. Shashank Singh, an alumnus of the Indian Institute of Management (IIM) Calcutta and BITS Pilani, and Bhuvnesh Gupta, an alumnus of XLRI Jamshedpur, had been working together on several agricultural and agritech-based projects when they witnessed the challenges in bulk procurement.
This Coimbatore-based biofuel startup wants to build a one-stop platform for a fragmented space
In 2019, the Indian government restricted importing of biofuels, saying it would require an import licence from the Directorate General of Foreign Trade (DGFT) — a move aimed to localise biofuel manufacturers in India.
The country is also one of the largest to manufacture energy-generating waste.
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 March, 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:
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RBI’s sudden increase in Repo rates by 40 percentage points in one go, highlights the severity of inflation. The surge in inflation is partly due to Covid led disruptions in supply chains and now substantially because of Ukraine war impact petroleum as well as food prices globally. Retail price inflation in India reached to 8% in April. Many experts fear we might be heading for stagflation: a scenario of high-inflation but low growth. But most experts believe that growth in India will remain robust. The growth rate could be pushed further by set of initiatives Government is contemplating in ecommerce, telecom, financial sector and infrastructure etc. I feel, once the war is halted, the growth momentum in India will further pickup. The time should be used to set our house in order: make financial markets efficient through digital intervention and regulatory ease, transform public procurement and leverage it for augmenting industrialization and improving our industrial infrastructure. The combined effect of these measures will be on the scale of economy that manufacturers would be able to build. This is what I intend to focus on during my tenure.
"
India has recorded a 30.7 per cent rise in merchandise exports to USD 40.19 billion with as trade deficit widened to USD 20.11 billion in the month of April, 2022.
The sectors that performed well are petroleum products, electronic goods and chemicals, said the commerce ministry on Friday. Engineering goods exports increased by 15.38 per cent to USD 9.2 billion, while petroleum products exports soared 113.21 per cent to USD 7.73 billion.
Imports during the month under review grew by 30.97 per cent to USD 60.3 billion. The trade deficit in April 2021 was at $15.29 billion.
The Reserve Bank of India (RBI) is expected to increase its inflation projection for the current financial year and consider hikes in interest rates at its June monetary policy meeting.
As per media reports, the inflation forecast by the central bank will be raised again during the meeting of MPC which will take place from June 6-8. Earlier this month the RBI decided to raise the repo rate by 40 basis points to 4.40 per cent in a bid to tame the rising inflation in the country. In April, RBI raised its inflation forecast for the current fiscal year to 5.7 per cent, 120 bps above its forecast in February, while cutting its economic growth forecast to 7.2 per cent for 2022-23 from 7.8 per cent.
In a bid to tame the rising inflation in the country, the Reserve Bank of India (RBI) has decided to raise the repo rate by 40 basis points to 4.40%, Governor Shaktikanta Das announced in a virtual address today.
Das said “Shortages and volatility in commodities and financial markets are becoming more acute. We have demonstrated in the Monetary Policy Committee that we are not bound by a set book of rules but be accommodative of changing scenarios,” he said. Last month, the Central Bank kept two benchmark economy-wide interest rates unchanged at record lows, a signal that the RBI continued to prioritize growth recovery despite inflationary winds sweeping the world and India in the aftermath of the Russia-Ukraine conflict.
Clix Capital, a digital-lending NBFC announced that it aims to disburse Rs 1,000 crore in unsecured MSME loans to the underserved micro-enterprises across nine major cities in India by the end of this fiscal year.
Making the announcement on Thursday, Rakesh Kaul, CEO – Clix Capital said this is a step towards achieving the company’s vision to simplify lending and enable financial inclusion. Delhi, Jaipur, Chandigarh, Mumbai, Pune, Ahmedabad, Bangalore, Hyderabad and Chennai are the nine cities where the offering is readily available to MSMEs.
Union Minister for MSME Narayan Rane launched the second phase of MSME RuPay Credit Card and has called upon the field officers to achieve the targets of growth of MSME in their respective areas within the stipulated period.
Addressing the National conference of MSME- Development Institutes, Testing Centres and Technology Centres on Tuesday he said that this conference will contribute in shaping the vision of Aatma Nirbhar Bharat initiated by Prime Minister Narendra Modi.
After attending the ‘Coir Conclave’ in Coimbatore, MSME Minister Narayan Rane visited Pushpak Products India Pvt Ltd’s manufacturing facility in Bidadi, Karnataka to get direct experience of a MSME operations and coir wood furniture production.
Minister was keen on understanding the depth of each of the products and shared his views and scope of improvement for the manufacturing facility. Expressing gratitude to the minister Pushpak Prakash, Founder & Managing Director of Pushpak Group and CEC member of Federation of Indian Micro and Small & Medium Enterprises (FISME) said, “We were humbled to share, discuss and learn immensely from his knowledge in every segment of the industry.”
The State Cabinet of Kerala has decided to allow institutions and companies, statutory boards/societies/apex cooperatives under the State government to settle bills for MSMEs and distributors of good and services on the Trade Receivables Discounting System (TReDS) platform.
It has also approved local self-government institutions to participate on the TReDS platform. Introduced by the Reserve Bank of India (RBI), TReDS is an electronic platform for facilitating the financing/discounting of trade receivables of MSMEs through multiple financiers.
The Andhra Pradesh State Cabinet has approved the much awaited Export Promotion Policy 2022-27 as well as the Logistics Policy 2022-27.
It was the first meeting after rearrangement of the State Cabinet under the Chairmanship of Chief Minister YS Jagan Mohan Reddy. The government also decided to start the kharif season early by releasing water to Godavari delta from June 1, Krishna delta and Guntur Channel from June 10.
Water will be released to farmers of ayacut of Somasila, Gandikota, Chitravati, Bramhamsagar projects from July 10 and Nagarjuna Sagar project from July 15.
The District level committee of Ludhiana has granted exemption to 4 industrial units on electricity duty and 1 unit from CLU/EDC charges.
During a meeting held on Friday at Bachat Bhawan under the Chairmanship of Deputy Commissioner, Ludhiana it was also decided to grant 8 units with In-Principle Approval under Right to Business Act. The meeting was held to for the Commissioner to consider cases for giving benefits like Electricity Duty and CLU/EDC Exemption and In-Principle Approval for setting up their Industrial units.
To boost the industrial development and employment opportunities, the Rajasthan government is working on a new Micro, Small and Medium Enterprises (MSME) policy.
The policy will protect the MSME sector with new incentives and facilities, said State Industries Commissioner Mahendra Kumar Parakh. Some of the significant features being considered for the new policy formulation are single window system, industrial clusters, smart industrial areas and easy availability of finance, said the Commissioner at the policy meeting. The State government will include suggestions for infrastructure development for industries, training for capacity building, better marketing support etc.
The Commerce Minister Piyush Goyal launched the India-UAE Startup bridge a part of Comprehensive Economic Partnership Agreement (CEPA) signed between the two countries recently.
It will facilitate joint training sessions for incubators in India and the UAE, providing market access information to startups. Speaking at the inaugural session organised by CCI, he said that the agreement will open doors to Indian labour and incentivise sectors.
Sector such as textiles, gems, jewellery and leather, will be given access to the UAE market, he said.
Welcoming the ongoing "intense cooperation" across all defence domains, India and France have agreed to find creative ways for deeper involvement of French companies in 'Atmanirbhar Bharat' efforts in defence technology, manufacturing and exports according to a joint statement.
A joint statement issued after Prime Minister Narendra Modi met French President Emmanuel Macron underscored that the long-standing armament cooperation is testimony to the mutual trust between the two countries.
India and Germany have agreed to work together in the domain of Artificial Intelligence (AI). As part of the collaboration, the two sides will work together to advance AI-based startups and research.
The announcement is part of the overarching cooperation between the two sides in science and technology. The two governments have roped in academic institutions and local industries to further strategic research and development in the AI arena.
According to the FISME factor, 100% of MSMEs think that lack of finance is holding back the growth of MSMEs. 
The corporate world has been abuzz recently with more organisations mandating that employees return to the office. While some have welcomed the move with open arms and excitement, many are resistant and do not see the real need behind this mandate. Managers are now faced with yet another challenge as they manage and navigate this change, not only for their organisation and teams, but also for themselves.
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.
We sought the guidance of industry-leading experts who suggested that it does not matter if you are selling the same product as everyone else is selling on the market or something different. What matters is how you sell it.
The "how" can be simply answered by the way your customers portray you and your brand. Personal branding is thus a process by which you intentionally project yourself how you want your customers to view you. It helps you raise self-awareness and identify your potential weaknesses, strengths, and opportunities.
The transformation of Jagatpur Industrial Estate (JIE) into a model MSME hub of Odisha has been delayed owing to the rift between the Cuttack Municipal Corporation (CMC) and Odisha Industrial Infrastructure Development Corporation (IDCO) as the municipality has sided with encroachers in the wake of eviction notice issued by IDCO.
Commenting on the matter CMC Mayor Subhas Singh has stated that there is no chance of eviction of any slum without the consent of CMC as the civic body is the enforcement agency.
The first thing that strikes anyone about the agricultural sector in India is how fragmented and low on discovery it is at a grassroots level. Shashank Singh, an alumnus of the Indian Institute of Management (IIM) Calcutta and BITS Pilani, and Bhuvnesh Gupta, an alumnus of XLRI Jamshedpur, had been working together on several agricultural and agritech-based projects when they witnessed the challenges in bulk procurement. 
In 2019, the Indian government restricted importing of biofuels, saying it would require an import licence from the Directorate General of Foreign Trade (DGFT) — a move aimed to localise biofuel manufacturers in India.
The country is also one of the largest to manufacture energy-generating waste.
“The fire that warms us can also consume us; it is not the fault of the fire. ”
