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President Message
I had the occasion to participate in the meeting of the Board of Trade- the apex body set up by Govt of India, to deliberate on trade and commerce issues. MSMEs dominate several traditional and modern product categories in exports. Not just handicrafts, garments but light engineering, auto parts, machines and pharmaceuticals. Estimates vary but no one disputes MSME contribution to be less than 30% in exports. But small exporters can do much more if the difficulties they face can be addressed. I flagged three issues which need attention of policy makers. Exports is always more risky than domestic business. Sudden difficulties can crop up both internally and externally. But in absence of a grievance redressal mechanism, most small exporters find it extremely difficult to seek help. I proposed an empowered Grievance redressal mechanism (with a dashboard) to see what kind of problems exporters face both internally and externally and find a way to resolve them. Such a mechanism would become a great repository to list NTBs. For addressing the complexities of third country trading, I suggested setting up a Working group to identify the regulatory and policy constraints. Thirdly, I suggested chief focus of Exim Bank to be MSMEs. Lost large companies have sufficient clout to mobilize finance. MSME exporters of plants and machinery can be helped to export to developing countries through funds provided by EXIM bank.
"
Innovate or die. Cliché as it might sound, there's a lot of truth to this adage. Amazon, Apple, Netflix and LEGO are all companies that reinvented themselves in some way to not only survive but also thrive. One of the more recent companies to reinvent itself is Chipotle. Though known for its counter-service approach, the fast-food chain had to drastically pivot during the pandemic. As such, it created Chipotlanes: drive-thru lanes for mobile pickup orders. On the surface, it's not a significant reinvention, but it is one that got the company through Covid-19.
Micro, small and medium enterprises have sought an “empowered" grievance redressal mechanism, blaming a fall in their share of exports on lack of coordination among central ministries among other factors.
Despite overall exports hitting a record high of $420 bn in FY22, the share of MSME exports declined to 45% compared with 49.35% in FY21, official numbers showed...
During the first quarter of financial year 2022-23 exports of tyre from India increased by 31 per cent to Rs 6,213 crore.
According to a report by the Union Ministry of Commerce in the year-ago quarter the exports were at Rs 4,754 crore.
Commenting on the growth, Satish Sharma, Chairman, Automotive Tyre Manufacturers' Association (ATMA), said “Indian tyre industry has weathered the storm well and has turned out an impressive export performance.”
India’s annual rate of inflation based on Wholesale Price Index (WPI) is 12.41 per cent for the month of August, 2022.
The manufactured products segment eased to 7.51 per cent in August from 8.16 per cent in the month before that.
Inflation in August, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, chemicals & chemical products, electricity, food products etc. as compared to the corresponding month of the previous year, said Ministry of Commerce & Industry on Wednesday.
The Agricultural and processed food exports from India have gone up by 30 per cent to USD 9,598 Million in April-July 2022 from USD 7,397 million over the same period of the last fiscal, as per the provisional data released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S).
The export target for the year 2022-23 for agricultural and processed food products has been fixed at USD 23.56 billion. of USD 9.59 billion has already been achieved in the first four months of the current fiscal.
The Ministry of Road Transport and Highways (MoRTH) has asked all stakeholders to submit comments and suggestions on a draft notification G.S.R 693(E) to promote ease of doing business and transparency in the sale and purchase of registered vehicles through dealers.
The feedbacks are supposed to be submitted within a period of thirty days. The pre-owned car market in India has been gradually gaining ground. In recent years, the advent of online marketplaces, which are involved in buying and selling of pre-owned vehicles has further given a boost to this market, said MoRTH.
Engineering Export Promotion Council (EEPC) has raised the requirement of production linked incentive (PLI) scheme dedicated for the sector.
The body has suggested that export finance should be made cheaper for micro, small and medium enterprises (MSMEs).
During the Board of Trade meeting held recently, EEPC called for cheaper advances for MSMEs, a dedicated production linked incentive scheme for them, guidelines for ‘rupee trade’ with Russia and alternative payment mechanism for Myanmar.
Union Minister of MSME Narayan Rane on Wednesday inaugurated the portal for the scheme promotion of MSMEs in North East Region (NER) and Sikkim.
While chairing the 18th meeting of the National Board of MSME (NBMSME), Rane launched the integration of Udyam and NCS portals. A Memorandum of Understanding was also signed between the Ministry of MSME and Common Service Centre in connection with Udyam Registration Portal.
The Kerala government is collaborating with the Entrepreneurship Development Institute of India (EDII) to promote startups and entrepreneurship ecosystem in state.
Speaking about the collaboration with the Kerala government, Sunil Shukla, Director General, EDII said, “Kerala holds immense potential for entrepreneurship development. EDII has been ensuring the institutionalisation of enabling factors for a conducive start-up and entrepreneurial ecosystem.” “Innovative training models, result-oriented collaborations with the government and corporates in the State, and outreach to the grassroots have helped ensure the setting up of new enterprises and the growth of existing ones. The future is promising with new associations and goals,” he said.
Karnataka Chief Minister Basavaraj Bommai on Thursday said that the state will soon start producing hydrogen fuel.
Speaking at the inaugural function of the Indian Manufacturing Show-2022, Bommai, said that the state government has signed memorandum of understanding worth Rs 1.3 lakh crore in the renewable energy space. We are doing extensive work in the field of renewable energy. We will soon start producing hydrogen fuel. We have signed Rs 1.3 lakh crore worth MoUs in renewable energy," Bommai said.
As per reports, the Karnataka government is aiming to set up industries all along the Karnataka stretch of the Mumbai-Chennai corridor and renewable energy along the seashore.
Tiruppur Exporter's Association (TEA) has requested Chief Minister M.K. Stalin to revisit the Power Tariff Hike and reduce the hike to save Tirupur’s Knitwear Industry.
The Association in a letter to the CM has stressed on the impact upward revision of power tariff will have on the industry majorly consisting on MSMEs. “It will be a heavy blow to the Industry, which added fuel to the burning situation existing now,” said TEA in a statement. Raja M Shanmugham, President, TEA particularly mentioned that the Tirupur Knitwear Sector has been already reeling under pressure due to internal and external factors and with this, the Addition of Power Tariff hike would be a heavy blow on the sector comprising MSMEs and their survival will also at stake including employment.
The Kakatiya Weavers Cooperative Society (KWCS) begins saree production at the Kakatiya Mega Textile Park in Telangana. However, the park is yet to be officially inaugurated by Handlooms and Textile Minister KT Rama Rao. The mega textile park has over 364 power loom units spread over 60 acres of area. It provides direct employment to 5,000 people while 4,000 others are indirectly employed. As per reports, 364 weaver families came forward to set up power loom units for which the government body handed over 60 acres of land with layout and basic facilities like roads, street lights, and drainage.
To promote Punjab as a favourable investment destination, the Punjab chief minister Bhagwant Mann is on a week- long visit to Germany.
Mann on Monday held several meetings in Germany to draw global investments into the state. He also extended an invitation to the German businessmen to attend the Progressive Punjab Investors’ Summit which is scheduled for February 23-24, 2023. During the ongoing visit, the Punjab CM held deliberations with representatives of key companies like Zepplin, Buehler, Pro Minent, Donaldson, Igus, Cipriani Harrison Valves, Pentair and others about various technology solutions pertinent for Punjab’s industry, like oil seed processing machinery, industrial air filtration systems, purification technology, among others, a government statement said.
What should be the essential areas of action for govt to strengthen India’s competitive position?
According to FISME factor, 100% of MSMEs think that the essential areas of action for govt to strengthen India's competitive position should be technological upgradation.
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Edible Oil Industry urge SEBI to lift ban on future trade of crude soybean & crude palm oil
Solvent Extractors’ Association of India on Monday urged the Securities and Exchange Board of India (SEBI) to resume the future trade of crude soybean oil and crude palm oil.
From farm to fork, Nutrifresh takes hydroponically-grown produce to customers' doorstep
Is organic produce really ‘organic’? While India leads Asia in growing organic food across 23 lakh hectares of land, the word ‘organic’ is not protected in the country—leading to widespread and sometimes unverified use.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) has released the quick estimates of Index of Industrial Production and Use-based Index for the month of July 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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I had the occasion to participate in the meeting of the Board of Trade- the apex body set up by Govt of India, to deliberate on trade and commerce issues. MSMEs dominate several traditional and modern product categories in exports. Not just handicrafts, garments but light engineering, auto parts, machines and pharmaceuticals. Estimates vary but no one disputes MSME contribution to be less than 30% in exports. But small exporters can do much more if the difficulties they face can be addressed. I flagged three issues which need attention of policy makers. Exports is always more risky than domestic business. Sudden difficulties can crop up both internally and externally. But in absence of a grievance redressal mechanism, most small exporters find it extremely difficult to seek help. I proposed an empowered Grievance redressal mechanism (with a dashboard) to see what kind of problems exporters face both internally and externally and find a way to resolve them. Such a mechanism would become a great repository to list NTBs. For addressing the complexities of third country trading, I suggested setting up a Working group to identify the regulatory and policy constraints. Thirdly, I suggested chief focus of Exim Bank to be MSMEs. Lost large companies have sufficient clout to mobilize finance. MSME exporters of plants and machinery can be helped to export to developing countries through funds provided by EXIM bank.
"
Innovate or die. Cliché as it might sound, there's a lot of truth to this adage. Amazon, Apple, Netflix and LEGO are all companies that reinvented themselves in some way to not only survive but also thrive. One of the more recent companies to reinvent itself is Chipotle. Though known for its counter-service approach, the fast-food chain had to drastically pivot during the pandemic. As such, it created Chipotlanes: drive-thru lanes for mobile pickup orders. On the surface, it's not a significant reinvention, but it is one that got the company through Covid-19.
During the first quarter of financial year 2022-23 exports of tyre from India increased by 31 per cent to Rs 6,213 crore.
According to a report by the Union Ministry of Commerce in the year-ago quarter the exports were at Rs 4,754 crore.
Commenting on the growth, Satish Sharma, Chairman, Automotive Tyre Manufacturers' Association (ATMA), said “Indian tyre industry has weathered the storm well and has turned out an impressive export performance.”
India’s annual rate of inflation based on Wholesale Price Index (WPI) is 12.41 per cent for the month of August, 2022.
The manufactured products segment eased to 7.51 per cent in August from 8.16 per cent in the month before that.
Inflation in August, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, chemicals & chemical products, electricity, food products etc. as compared to the corresponding month of the previous year, said Ministry of Commerce & Industry on Wednesday.
The Agricultural and processed food exports from India have gone up by 30 per cent to USD 9,598 Million in April-July 2022 from USD 7,397 million over the same period of the last fiscal, as per the provisional data released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S).
The export target for the year 2022-23 for agricultural and processed food products has been fixed at USD 23.56 billion. of USD 9.59 billion has already been achieved in the first four months of the current fiscal.
The Ministry of Road Transport and Highways (MoRTH) has asked all stakeholders to submit comments and suggestions on a draft notification G.S.R 693(E) to promote ease of doing business and transparency in the sale and purchase of registered vehicles through dealers.
The feedbacks are supposed to be submitted within a period of thirty days. The pre-owned car market in India has been gradually gaining ground. In recent years, the advent of online marketplaces, which are involved in buying and selling of pre-owned vehicles has further given a boost to this market, said MoRTH.
Engineering Export Promotion Council (EEPC) has raised the requirement of production linked incentive (PLI) scheme dedicated for the sector.
The body has suggested that export finance should be made cheaper for micro, small and medium enterprises (MSMEs).
During the Board of Trade meeting held recently, EEPC called for cheaper advances for MSMEs, a dedicated production linked incentive scheme for them, guidelines for ‘rupee trade’ with Russia and alternative payment mechanism for Myanmar.
Union Minister of MSME Narayan Rane on Wednesday inaugurated the portal for the scheme promotion of MSMEs in North East Region (NER) and Sikkim.
While chairing the 18th meeting of the National Board of MSME (NBMSME), Rane launched the integration of Udyam and NCS portals. A Memorandum of Understanding was also signed between the Ministry of MSME and Common Service Centre in connection with Udyam Registration Portal.
The Kerala government is collaborating with the Entrepreneurship Development Institute of India (EDII) to promote startups and entrepreneurship ecosystem in state.
Speaking about the collaboration with the Kerala government, Sunil Shukla, Director General, EDII said, “Kerala holds immense potential for entrepreneurship development. EDII has been ensuring the institutionalisation of enabling factors for a conducive start-up and entrepreneurial ecosystem.” “Innovative training models, result-oriented collaborations with the government and corporates in the State, and outreach to the grassroots have helped ensure the setting up of new enterprises and the growth of existing ones. The future is promising with new associations and goals,” he said.
Karnataka Chief Minister Basavaraj Bommai on Thursday said that the state will soon start producing hydrogen fuel.
Speaking at the inaugural function of the Indian Manufacturing Show-2022, Bommai, said that the state government has signed memorandum of understanding worth Rs 1.3 lakh crore in the renewable energy space. We are doing extensive work in the field of renewable energy. We will soon start producing hydrogen fuel. We have signed Rs 1.3 lakh crore worth MoUs in renewable energy," Bommai said.
As per reports, the Karnataka government is aiming to set up industries all along the Karnataka stretch of the Mumbai-Chennai corridor and renewable energy along the seashore.
Tiruppur Exporter's Association (TEA) has requested Chief Minister M.K. Stalin to revisit the Power Tariff Hike and reduce the hike to save Tirupur’s Knitwear Industry.
The Association in a letter to the CM has stressed on the impact upward revision of power tariff will have on the industry majorly consisting on MSMEs. “It will be a heavy blow to the Industry, which added fuel to the burning situation existing now,” said TEA in a statement. Raja M Shanmugham, President, TEA particularly mentioned that the Tirupur Knitwear Sector has been already reeling under pressure due to internal and external factors and with this, the Addition of Power Tariff hike would be a heavy blow on the sector comprising MSMEs and their survival will also at stake including employment.
The Kakatiya Weavers Cooperative Society (KWCS) begins saree production at the Kakatiya Mega Textile Park in Telangana. However, the park is yet to be officially inaugurated by Handlooms and Textile Minister KT Rama Rao. The mega textile park has over 364 power loom units spread over 60 acres of area. It provides direct employment to 5,000 people while 4,000 others are indirectly employed. As per reports, 364 weaver families came forward to set up power loom units for which the government body handed over 60 acres of land with layout and basic facilities like roads, street lights, and drainage.
To promote Punjab as a favourable investment destination, the Punjab chief minister Bhagwant Mann is on a week- long visit to Germany.
Mann on Monday held several meetings in Germany to draw global investments into the state. He also extended an invitation to the German businessmen to attend the Progressive Punjab Investors’ Summit which is scheduled for February 23-24, 2023. During the ongoing visit, the Punjab CM held deliberations with representatives of key companies like Zepplin, Buehler, Pro Minent, Donaldson, Igus, Cipriani Harrison Valves, Pentair and others about various technology solutions pertinent for Punjab’s industry, like oil seed processing machinery, industrial air filtration systems, purification technology, among others, a government statement said.
According to FISME factor, 100% of MSMEs think that the essential areas of action for govt to strengthen India's competitive position should be technological upgradation. 
Scaling responsibly and with intention are the keys to maintaining business continuity through growth. Here are tips to successfully scale your team. Most startups have an eye on growth, but there's a crucial stage
For any entrepreneur to succeed, the two basic elements are a good business plan and ample funding. Even if both these aspects are managed, however, it is still necessary to manage the finances properly.
Solvent Extractors’ Association of India on Monday urged the Securities and Exchange Board of India (SEBI) to resume the future trade of crude soybean oil and crude palm oil.
Come winter, and the skies in Punjab, Haryana, and surrounding areas turn ash grey with the smoke from burning crop stubble (paddy residue).
Is organic produce really ‘organic’? While India leads Asia in growing organic food across 23 lakh hectares of land, the word ‘organic’ is not protected in the country—leading to widespread and sometimes unverified use.
“ The butterfly counts not months but moments, and has time enough. ”
