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President Message |
India has assumed the Presidency of G20 in Bali last week for one year. This is a historic moment. For the first time, India is presiding over an international institution that primarily focuses on governance of the global economy. Almost half of G20 countries are advanced/ developed economies and other emerging economies. The group controls over 75% of global trade and 85% of global GDP. Indian Presidency has identified five themes namely Trade for Growth and Prosperity, Trade and Resilient Global Value Chains, Integrating MSMEs in Global Trade, Logistics for Trade, and WTO Reform. FISME has been engaged in the dialogue prior to the summit and has been instrumental in pushing for one theme exclusively focusing MSMEs. Now FISME has been officially notified as member of the Group on MSME theme. We shall quickly hold a consultation with MSME stakeholders to seek their views on which particular action we would like to see implemented during India’s Presidency which could enhance market access for Indian MSMEs in G20 countries. This is an opportunity we should take the maximum advantage of. I urge you all join hands.
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Vol VIV, Issue 264: Nov 15, 2022 |
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Activities |
Federation of Indian Micro, Small and Medium Enterprises (FISME) signed a Memorandum of Understanding (MoU) with Yangsan Chamber of Commerce and Industries (YCCI) of South Korea to support and strengthen MSMEs in both the countries as per a report by the Knowledge and News Network (KNN).
As a part of this agreement, FISME will help the entrepreneurs based in Yangsan city to form business ties with the Indian small and medium enterprises (SMEs).
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Business Banter: Lessons from Entrepreneurs |
One of my company’s primary growth strategies is pitching to investors and retailers. Crafting a well-developed, thoughtful and timely pitch and getting investors to listen is one of the most valuable skills to have when scaling a business. But that skill only comes through practice and experience. Whether or not you walk away with cash from a pitch meeting, the experience is sometimes more valuable than the investment. With that in mind, here are the top five lessons I've learned from the pitches, investments and scaling strategies that have grown our company and can help yours grow, too.
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Writing on the Wall |
The 17th G20 heads of state summit kicks off in Bali on 15-16 November in a rapidly changing geopolitical landscape. The Group of Twenty (G20) represents over 80 percent of the Gross World Product (GWP), 75 percent of global trade, 2/3rd of the world’s population, and 60 percent of the world land area. While the grouping seems very inclusive,
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Media Monitor |
Macro Metre |
The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 8.39% (Provisional) for the month of October, 2022 (over October, 2021) against 10.70% recorded in September, 2022.
Decrease in the rate of inflation in October, 2022 is primarily contributed by fall in the price of mineral oils, basic metals, fabricated metal products, except machinery and equipment; textiles; other non-metallic mineral products; minerals etc, said the official statement.
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According to the latest Retail Business Survey by the Retailers Association of India (RAI) the sales in October 2022 showed a 19 per cent growth when compared to pre-pandemic sales level (October 2019).
While it showed growth of 15 per cent as compared to the sales levels in October 2021(YoY), said the 33rd edition of the survey. Speaking about the findings, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “The removal of pandemic-related restrictions has resulted in all-round growth of retail businesses across regions and categories.”
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The Director General of Foreign Trade (DGFT), Santosh Kumar Sarangi on Tuesday deliberated on the importance of formulating sector wise strategies aimed at specific markets. He was speaking at the first ever conference of Indian Trade Service Officers “Manthan 1.0” held in Kevadia, Gujarat. Addressing the officers he stressed upon the importance of continuous learning and application on development of an officer. He highlighted the importance of using latest trade analytics tools to understand the emerging international trade scenario
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The Federation of Indian Micro and Small & Medium Enterprises (FISME) has written to Union Minister of Finance Nirmala Sitharaman to introduce Surety Bonds to make public procurement more inclusive and help MSEs enhance business volumes with freed up collateral assets.
It is of the view that above all it will enhance competitiveness of MSMEs. Introduction of Surety Bonds will place Indian business at par with what most developed economies in an important respect, read the letter.
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The central government has committed an amount of more than Rs 5,000 crore with approvals of 37 daughter funds as part of the government’s flagship Atmanirbhar Bharat programme.
Government-backed Self Reliant India Fund (SRIF) on Friday announced that it has committed over Rs 5,000 crore to help small businesses with growth capital in its first year of operations. It has a 'Mother Fund-Daughter Fund' structure wherein SRIF, the mother fund, invests up to 20 per cent of the corpus of the Daughter Fund, which raises the balance 80 per cent of the capital from outside sources.
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After Hyundai Global Motors withdrew fr0m the production-linked incentive (PLI) scheme the government is yet to allocate the 20 GWh capacity of advanced chemistry cell battery storage, reported Mint.
The scheme aims to increase production of batteries to boost the electric vehicles ecosystem and reduce import dependence.
After South Korea’s Hyundai Motor Co. said it had nothing to do with the company that bid under the scheme, Hyundai Global withdrew fr0m the Rs 18,100 crore scheme.
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The central government has approved 6 million tonnes of sugar exports on a quota basis till May 31, according to a Food Ministry notification on Saturday.
"In order to prevent uncontrolled export of sugar or with a view to ensuring sufficient availability of sugar for domestic consumption at a reasonable price, the government has decided to allow export of sugar up to a reasonable limit with effect from November 1 till May 31, 2023," it said.
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State Scan |
Uttar Pradesh
The Uttar Pradesh government, ahead of the Global Investors Summit-2023 (UPGIS), has introduced a new online system for signing memorandum of understanding (MoUs) and monitoring their implementation.
As per reports, the monitoring of the MoUs will be done through the MoU tracking portal that was used to track the implementation of MoUs signed at the UP Investors Summit 2018. A Government Order (GO) issued by Chief Secretary Durga Shankar Mishra has asked all the departments to nominate a nodal officer to be made responsible for follow up action on the portal.
Odisha
With the aim to empower local women self-help groups (SHGs) and help them expand their businesses, as many as five Sundargarh industries on Monday decided to commit business worth Rs 1 crore to the SHGs. The business commitment was made at the district-level investors’ meet titled ‘SHG to SME: Invest in her’, as part of Make in Odisha Conclave-2022. The event was organised by Mission Shakti and was held at Bikash Bhawan in Sundargarh town in Odisha.
Kerala
The government on Kerala and India Hydrogen Alliance (IH2A) will together evaluate a proposal for setting up the Kochi Green Hydrogen (KGH2) Hub.
To build a 60-tonnes per day (TPD) green hydrogen plant with a 150 MW Electrolyser, Storage and Infrastructure the proposal envisages a potential capital expenditure of USD 575 mn. This could achieve giga-watt scale and build the hydrogen economy in Kerala.
The plan was shared by IH2A and the Kerala Government after a consultation meeting between the government, industry and funding agencies.
Punjab
With the aim to help farmers in stubble management, the Punjab government on Sunday made it mandatory for brick kilns across the state to use paddy straw as 20 per cent of their fuel.
This decision will give a boost to straw management and farmers will benefit financially by selling straw, Punjab environment, science and technology minister Gurmeet Singh Meet Hayer said. The state government has issued a notification and brick kiln owners have been given six months to prepare for this new management and action will be taken against those who do not implement these instructions after May 1, next year,” said Hayer.
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World Watch |
Finland
India and Finland on Monday agreed to enhance cooperation in areas such as Digital Partnership in Future ICT, Future Mobile Technologies and Digital Education. The two countries also emphasised on having institutionalised joint working groups on areas of mutual interest.
Both the countries decided to carry mutual cooperation between the two countries to a new level in a number of areas of bilateral as well as global interests. Finland Minister of Education and Culture, Petri Honkonen called on Union Minister of Science and Technology Dr Jitendra Singh at North Block on Monday to seek enhanced bilateral cooperation between the two countries in the field of Science, Technology and Innovation (STI).
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FISME’s official Twitter handle @fisme |
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KNN India’s official Twitter handle @knnindia |
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Other Events |
India International Trade Fair
Date: 14 - 27 Nov 2022
Venue: Pragati Maidan, New Delhi
See Details
OSH India
Date: 24 - 25 Nov 2022
Venue: Bombay Exhibition Centre (BEC), Mumbai
See Details
India Electronics Week
23 - 25 Nov 2022
Venue: KTPO Convention Centre, Whitefeild, Bengaluru
See Details
Krishithon
Date: 24 - 28 Nov 2022
Venue: Thakkers Dome, Nashik
See Details
Festival of Architecture and Interior Designing - New Delhi
Date: 25 - 27 Nov 2022
Venue: NSIC Exhibition Ground, New Delhi
See Details
Bakery Business
Date: 25 - 27 Nov 2022
Venue: Jio World Convention Centre, Mumbai
See Details
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Your Views |
Do you think that India-UK FTA could boost exports ?
According to the FISME factor, 100% of MSMEs think that India-UK FTA could boost exports.
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Knowledge Store |
HR Heuristics
Why companies should abandon the Purple Squirrel Syndrome
The ‘purple squirrel’ in the recruitment and staffing world is the perfect candidate who ticks ALL the right boxes. Such purple squirrels have the right educational background; display the precise skill set, come with the exact amount of experience, and possess all the desired qualifications needed to fit a role. Just as the mythical purple squirrel, such candidates are rare to come across.
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Finance Fundamentals
Women’s Entrepreneurship Day: 10 financial tips for aspiring women entrepreneurs
Every year, more than 144 countries across the world celebrate Women’s Entrepreneurship Day on November 19 to acknowledge, support and celebrate the contribution of women entrepreneurs towards economic growth and the betterment of society.
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Marketing Mantras
The Market is Evolving, Your Marketing Strategy Should Too
Evolution is inescapable, and it permeates every aspect of life. Many of us tend to resist this fact, inherently leaning on the comfort of what we know. However, it is a cold reality that those who do not evolve are inevitably left behind. This applies both to life and business. If a company fails to evolve and adapt to the constantly changing market environment, it will eventually fail.
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Policy Polemic
TN and Maharashtra trade unions demand clarity on future of NTC mills
Tamil Nadu and Maharashtra trade union leaders on Wednesday met with the Textile Secretary Rachna Shah and Chairman and Managing Director of National Textile Corporation Pravakta Verma in New Delhi and demanded clarity on operations of NTC mills.
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SME Special
Healthy eating: This Jaipur-based D2C brand gives nutritional twist to Indian snacking
Indian snacking has a conflicting problem—most snacks aren’t healthy and healthy snacks don’t taste that good. “The snacks that we see in the market are unhealthy and full of preservatives. The few that are healthy don't taste great,” Eat Better co-founder Shaurya Kanoria tells YourStory.
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Success Story
Fighting advertisement fraud, this adtech startup is helping brands save millions
Advertisements have now become fundamental to running a digital business. Many online platforms, including the one you’re reading this article on, rely on ad revenues as part of the business model. According to Oberlo, brands are spending close to $602 billion worldwide on digital advertising—with around 66.4% of the overall expenditure on media ads.
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Stockpile
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 October 2022.
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Quotable Quotes
“Strive not to be a success, but rather to be of value. ”
– - Albert Einstein - German-born theoretical physicist
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Country Chronicles |
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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New Members |
1 new MSMEs became members of FISME during the period from 1st November to 15th November 2022
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Reader Reactions |
Write and Win prize!
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.
send mail to: newsletter@fisme.org.in
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Editorial Team: |
Hon. Editor: Anil Bhardwaj
Asstt. Editor: Kalpana Sharma
Types setting & websdesigning: Sanjay Sachan
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This Newsletter is edited by the FISME Secretariat. We welcome contributions as well as comments and suggestions. Please write to info@fisme.org.in |
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