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President Message
The World leaders got together for COP28 in Dubai to agree on ways to ensure a sustainable planet. The ambition for Net Zero Transition though a desirable outcome has profound implications for MSMEs. The MSME sector plays a vital role in developing economies and their transition to green technologies huge investments. Firstly, there is a need to develop accessible and affordable green finance instruments like low-interest loans, grants, and tax breaks for investing in renewable energy and resource efficiency upgrades. Secondly, partnerships needs to eb fostered between research institutions, technology companies, and MSMEs to transfer clean technologies and knowledge. Thirdly, what is also needed is streamlining and permitting processes and environmental regulations for green investments by MSMEs. Simultaneously, there is need to develop certification schemes and eco-labels for green products and services, enabling MSMEs to differentiate themselves and access premium markets. Last but not the least government support needs to be include for skill development, trade promotion and help for vulnerable groups namely women and marginalized communities. We need to convert the new responsibilities arising of COP28 to opportunities.
The Federation of Indian Small and Medium Enterprises (FISME) has organised a roundtable discussion with e-commerce sellers and experts. The discussion took place at the Le-meredian Hotel, New Delhi on December 14th. During the discussion FISME talked about the challenges faced by MSMEs within the ecommerce sector under the current GST regime and put forth recommendations to promote ease of doing business.
Amidst reluctance by Banks to restructure, many MSMEs stare their accounts turning NPAs as the adverse impact of Covid continues to linger in export-oriented sectors.
Distressed MSMEs shared their ongoing difficulties during the third Samwad (dialogue) with the group Members of Parliament named 'Friends of MSMEs in Parliament' on Thursday in New Delhi.
The dialogue was organised by the MSME body Federation of Indian Micro Small and Medium Enterprises (FISME).
Kunal Bahl and Rohit Bansal were among the pioneers in the ecommerce space. The co-founders of Snapdeal and AceVector Group have seen the rise and fall of many new-age internet companies as the industry exploded from 2 million to 1 billion active internet users in the span of a decade. In an exclusive conversation on Forbes India Pathbreakers, the duo talks about their journey as entrepreneurs and how they made a comeback from the bottom of the abyss.
World leaders came together at COP28 in Dubai to agree on ways to ensure a sustainable planet both now and in the future. On the fundamental level, the goal is to reduce the production and consumption of coal, gas, oil, and similar non-renewable resources. However, accomplishing this ambitious task requires taking a multifaceted approach, building scientifically sound targets, implementing cutting-edge technologies, and providing funds to expedite the transition to renewable energy. At the same time, global leaders must address complex social and political challenges. Transitioning from an international framework, where various countries negotiate these parameters, to a ...
For the first time since March 2023 India's wholesale inflation paced out of the deflationary zone as it jumped up to 0.26 per cent in November, as per data released by the Ministry of Commerce and Industry on Thursday.
Wholesale Price Index (WPI) inflation was at -0.52 per cent in October 2023 and 6.12 percent in November 2022.
At 0.26 per cent, the latest wholesale inflation print is the highest in eight months. The WPI data comes two days after the statistics ministry said the headline retail inflation fell to a three-month low of 5.55 per cent in November, still down 189 basis points from the 15-month high of 7.44 per cent in July. Wholesale inflation has zoomed 149 basis points over the same period.
India's Consumer Price Index (CPI)- based inflation rose to 5.55 per cent in November from 4.87 per cent in October, denoting a three-month high, as per a data released by the National Statistical Office (NSO) on Tuesday.
This is due to a spike in prices of onion led a rather broad-based rise in food inflation. However, the latest print being at the lower end of the forecasts by analysts and the continued moderation of core inflation to a 44-month low of 4.1 per cent, would offer comfort to the Reserve Bank of India (RBI).
The services exports of India has increased 10.8 per cent year-on-year to Rs 2,33,611 crore (USD 28.03 billion) in October, the Reserve Bank of India (RBI) said on Friday.
While imports fell 0.4 per cent to Rs 1,12,180 crore (USD 13.46 billion), as per RBI's provisional data. Data released by the government last month showed services exports in October were Rs 2,39,195 crore (USD 28.70 billion), while imports were Rs 1,19,347 crore (USD 14.32 billion).
India is expected to witness a decline in coal power capacity from 68 per cent in 2014 to 33 per cent by 2030, despite an increase of 80 GW in thermal power capacity, stated Union Minister for Power and New & Renewable Energy R. K. Singh on Thursday.
Speaking on the Impact of Energy Efficiency Measures at the National Energy Conservation Awards 2023, the minister stated that India has emerged as a leader in energy transition. He added, "We had said at COP21 in Paris that 40 per cent of our power capacity will be from non-fossil-fuel sources by the year 2030; we achieved this target in 2021.
The Open Network for Digital Commerce (ONDC), has partnered with the Ministry of Micro, Small and Medium Enterprises to onboard MSMEs onto the network via existing seller applications, said Minister of State, Ministry of Commerce, Som Parkash.
MSME-Mart, managed by the MSME ministry through the National Small Industries Corporation (NSIC), serves as a Business-to-Business (B2B) platform facilitating market access for MSMEs. ONDC is also working to integrate MSME-Mart, which has more than 2 lakh MSMEs, he added. It accomplishes this by offering a digital showcase for MSMEs to present their products and services, facilitating seamless connections between buyers and suppliers.
A projected investment of Rs 1,000 crore is anticipated for the handloom and handicraft sector over the coming four to five years, said Amrit Raj, Development Commissioner (Handicrafts), Union Ministry of Textiles on Thursday.
There are approximately 35 lakh artisans contributing to the sector nationwide, and the government is keen on implementing additional measures to support and enhance the sector, said the official. She addressed the media while attending the 'HGH India' bi-annual trade show, dedicated to home, gifts, and housewares, held at the India Expo Mart and Centre in Greater Noida.
India is considering to come up with a Rs 10,000 crore revised incentive scheme providing a major boost to the manufacturing of local electronic and semiconductor component plants within the country, reported ET.
This initiative aims to promote a supportive ecosystem for mega chip-packaging units being established by global entities such as US-based Micron, India's Tata Group, and Kaynes Corp. Government officials having knowledge of the matter told ET that the new incentive plan, a revised iteration of the existing Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), is likely to be launched early next year.
Gujarat has stood as a leader in India's pharmaceutical industry, serving as a pivotal centre for pharmaceutical manufacturing and exports, highlighted the state government as it prepares to host the Vibrant Gujarat Global Investor Summit.
The sector fosters significant employment opportunities, supporting approximately 50,000 individuals across over 4,000 manufacturing facilities, as per a recent state government release.
The Bihar government signed Memorandums of Understanding (MoUs) with 38 companies at Bihar Business Connect 2023 on Wednesday, paving the way for a potential Rs 26,429 crore investment across its textile, leather, food processing, and general manufacturing sectors. Significant investment pledges include 7,386.15 crore by Indian Oil Corporation Limited (IOCL), Patel Agri Industries Private Limited (Rs 5,230 crores), Indo-European Research and Healthcare Private Limited (Rs 2,000 crores), Dev India Project and Spray Engineering Devices Limited (Rs 1,600 crores), UltraTech Cement Limited (Rs 1,000 crores) and Spray Engineering Devices (Rs 800 crore).
The Government of India and the Asian Development Bank (ADB), in a landmark collaboration aimed at bolstering the power infrastructure in Uttarakhand, formalised an agreement for a USD 200 million loan on Wednesday. According to an official press release, this strategic partnership will channel critical resources towards enhancing the quality, efficiency, and reliability of power supply across the state.
After two years of slowdown, Panipat's blanket industry is looking forward to a promising season. Mink blanket demand is strong this year, but production started four months late in September.
As many as 80 plants in Panipat are manufacturing mink blankets, 35 plants polar blankets and 40 plants 3D bedsheets. The 'Textile City' faced a downturn in the mink blanket industry due to decreased domestic demand over the last two years. However, this Diwali season brought relief and joy to both manufacturers and traders.
India on Thursday placed an appeal for a review challenging a decision by the World Trade Organisation's (WTO) dispute settlement body that had ruled against New Delhi's imposition of tariffs on mobile phones and electronic components, among other ICT goods, reported ET. The European Union (EU) brought the case and a WTO panel in April stating that India had violated global trading rules. In response, India has sought a review by the Appellate Body and said in its appeal, "Of the errors of law and legal interpretation by the panel in its report and requests finding by the Appellate Body". Similarly in May, India had appeal a ruling that had favoured Japan but the WTO gave three months, till September 19, to India and the EU to settle the dispute.
After missing yet another Diwali for the finalisation of India and the UK trade deal, both the countries have decided to secure a landmark free-trade deal before the busy year of elections starts in 2024. Both the parties involved have begun crunch-time talks to resolve outstanding issues before elections. A UK team — including Amanda Brooks, director general for trade negotiations, and Douglas McNeill, chief economic adviser to the prime minister — is in New Delhi this week for further talks, according to people familiar with the matter, who asked not to be identified because the discussions are private.
What should be the focus area of action for Govt to address economic challenges and strengthen struggling sectors?
According to the FISME factor, 70% of the MSMEs think that infrastructure should be the focus area of action for the Govt to address economic challenges and strengthen struggling sectors, while 30% think that it should be banking & finance.
Human resources (HR) software have come to be indispensable tools for businesses of all sizes, including small businesses, SMEs (small and medium-sized enterprises) and startups. These tools streamline HR processes, enhance efficiency and contribute to overall organisational success. However, selecting the right HR software tailored to the specific needs of smaller businesses is crucial. When choosing HR software, smaller businesses should focus on essential functions. This includes keeping all employee details in one central database, tracking attendance efficiently, automating payro.
Mastering Finances: Five Essential Tips For Small-Business Owners
Being a small-business owner is one of the most difficult and stressful jobs in the world. Everywhere you turn, there's another fire to put out or a crisis to be averted. Although there are always elements beyond your control, you can alleviate much of the stress of business ownership by managing the areas within your control. One of these areas is finance.
Digital marketing has revolutionized how businesses attract and engage with potential customers for their products and services. Apart from this, it can still be a challenging concept to keep up with which digital strategy works best in this rapidly growing digital era. Forbes Advisor India has brought together an ultimate guide that walks you through everything you need to be aware of while creating winning digital marketing strategies for your business.
MSME Sector Struggles To Regain Pre-Pandemic Momentum
The share of Micro, Small and Medium Enterprises (MSMEs) in India's Gross Domestic Product (GDP) in 2021-22 was 29 per cent, reflecting a decline from the sector's pre-pandemic highs, attributed to the lingering impact of COVID-19.
Data presented in Parliament on Monday revealed that the contribution of MSMEs to India's gross value added, a measure of the country's total output, reached 31 per cent in 2018-19 but subsequently witnessed a decline during the pandemic years.
How Sibabrata Das and Atomberg's smart appliances are standing up to goliaths
With a rocky childhood, wobbly upbringing, and dodgy formative years of entrepreneurship, Sibabrata Das- has learned to find order in chaos. The result is a heady fan following for Atomberg. Mumbai, 2019. Thirty days. Almost seven years of a bumpy Atomberg ride was all set for a screeching halt in a month. "Thirty days were all we had," recalls Sibabrata Das, who joined Manoj Meena as a co-founder in 2013.
Shailesh Kumar's shoe-string upbringing and the curious case of CABT Logistics
After two flop ventures in cabs and ecommerce, Shailesh Kumar joined Flipkart as a delivery boy in 2017. Six years later, the village boy from Smastipur, Bihar has built a Rs150-crore logistics company.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) has release the Quick Estimates of Index of Industrial Production (IIP) and Use-Based Index for the month of October 2023 (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.
send mail to: newsletter@fisme.org.in
You are receiving this Newsletter because you are included in our mailing list of recipients who are involved or interested in FISME or Indian MSMEs. You are welcome to partly or fully reproduce and disseminate the contents of this publication provided that you acknowledge the source.
The World leaders got together for COP28 in Dubai to agree on ways to ensure a sustainable planet. The ambition for Net Zero Transition though a desirable outcome has profound implications for MSMEs. The MSME sector plays a vital role in developing economies and their transition to green technologies huge investments. Firstly, there is a need to develop accessible and affordable green finance instruments like low-interest loans, grants, and tax breaks for investing in renewable energy and resource efficiency upgrades. Secondly, partnerships needs to eb fostered between research institutions, technology companies, and MSMEs to transfer clean technologies and knowledge. Thirdly, what is also needed is streamlining and permitting processes and environmental regulations for green investments by MSMEs. Simultaneously, there is need to develop certification schemes and eco-labels for green products and services, enabling MSMEs to differentiate themselves and access premium markets. Last but not the least government support needs to be include for skill development, trade promotion and help for vulnerable groups namely women and marginalized communities. We need to convert the new responsibilities arising of COP28 to opportunities.
The Federation of Indian Small and Medium Enterprises (FISME) has organised a roundtable discussion with e-commerce sellers and experts. The discussion took place at the Le-meredian Hotel, New Delhi on December 14th. During the discussion FISME talked about the challenges faced by MSMEs within the ecommerce sector under the current GST regime and put forth recommendations to promote ease of doing business.
Amidst reluctance by Banks to restructure, many MSMEs stare their accounts turning NPAs as the adverse impact of Covid continues to linger in export-oriented sectors.
Distressed MSMEs shared their ongoing difficulties during the third Samwad (dialogue) with the group Members of Parliament named 'Friends of MSMEs in Parliament' on Thursday in New Delhi.
The dialogue was organised by the MSME body Federation of Indian Micro Small and Medium Enterprises (FISME).
Kunal Bahl and Rohit Bansal were among the pioneers in the ecommerce space. The co-founders of Snapdeal and AceVector Group have seen the rise and fall of many new-age internet companies as the industry exploded from 2 million to 1 billion active internet users in the span of a decade. In an exclusive conversation on Forbes India Pathbreakers, the duo talks about their journey as entrepreneurs and how they made a comeback from the bottom of the abyss.
For the first time since March 2023 India's wholesale inflation paced out of the deflationary zone as it jumped up to 0.26 per cent in November, as per data released by the Ministry of Commerce and Industry on Thursday.
Wholesale Price Index (WPI) inflation was at -0.52 per cent in October 2023 and 6.12 percent in November 2022.
At 0.26 per cent, the latest wholesale inflation print is the highest in eight months. The WPI data comes two days after the statistics ministry said the headline retail inflation fell to a three-month low of 5.55 per cent in November, still down 189 basis points from the 15-month high of 7.44 per cent in July. Wholesale inflation has zoomed 149 basis points over the same period.
India's Consumer Price Index (CPI)- based inflation rose to 5.55 per cent in November from 4.87 per cent in October, denoting a three-month high, as per a data released by the National Statistical Office (NSO) on Tuesday.
This is due to a spike in prices of onion led a rather broad-based rise in food inflation. However, the latest print being at the lower end of the forecasts by analysts and the continued moderation of core inflation to a 44-month low of 4.1 per cent, would offer comfort to the Reserve Bank of India (RBI).
The services exports of India has increased 10.8 per cent year-on-year to Rs 2,33,611 crore (USD 28.03 billion) in October, the Reserve Bank of India (RBI) said on Friday.
While imports fell 0.4 per cent to Rs 1,12,180 crore (USD 13.46 billion), as per RBI's provisional data. Data released by the government last month showed services exports in October were Rs 2,39,195 crore (USD 28.70 billion), while imports were Rs 1,19,347 crore (USD 14.32 billion).
India is expected to witness a decline in coal power capacity from 68 per cent in 2014 to 33 per cent by 2030, despite an increase of 80 GW in thermal power capacity, stated Union Minister for Power and New & Renewable Energy R. K. Singh on Thursday.
Speaking on the Impact of Energy Efficiency Measures at the National Energy Conservation Awards 2023, the minister stated that India has emerged as a leader in energy transition. He added, "We had said at COP21 in Paris that 40 per cent of our power capacity will be from non-fossil-fuel sources by the year 2030; we achieved this target in 2021.
The Open Network for Digital Commerce (ONDC), has partnered with the Ministry of Micro, Small and Medium Enterprises to onboard MSMEs onto the network via existing seller applications, said Minister of State, Ministry of Commerce, Som Parkash.
MSME-Mart, managed by the MSME ministry through the National Small Industries Corporation (NSIC), serves as a Business-to-Business (B2B) platform facilitating market access for MSMEs. ONDC is also working to integrate MSME-Mart, which has more than 2 lakh MSMEs, he added. It accomplishes this by offering a digital showcase for MSMEs to present their products and services, facilitating seamless connections between buyers and suppliers.
A projected investment of Rs 1,000 crore is anticipated for the handloom and handicraft sector over the coming four to five years, said Amrit Raj, Development Commissioner (Handicrafts), Union Ministry of Textiles on Thursday.
There are approximately 35 lakh artisans contributing to the sector nationwide, and the government is keen on implementing additional measures to support and enhance the sector, said the official. She addressed the media while attending the 'HGH India' bi-annual trade show, dedicated to home, gifts, and housewares, held at the India Expo Mart and Centre in Greater Noida.
India is considering to come up with a Rs 10,000 crore revised incentive scheme providing a major boost to the manufacturing of local electronic and semiconductor component plants within the country, reported ET.
This initiative aims to promote a supportive ecosystem for mega chip-packaging units being established by global entities such as US-based Micron, India's Tata Group, and Kaynes Corp. Government officials having knowledge of the matter told ET that the new incentive plan, a revised iteration of the existing Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), is likely to be launched early next year.
Gujarat has stood as a leader in India's pharmaceutical industry, serving as a pivotal centre for pharmaceutical manufacturing and exports, highlighted the state government as it prepares to host the Vibrant Gujarat Global Investor Summit.
The sector fosters significant employment opportunities, supporting approximately 50,000 individuals across over 4,000 manufacturing facilities, as per a recent state government release.
The Bihar government signed Memorandums of Understanding (MoUs) with 38 companies at Bihar Business Connect 2023 on Wednesday, paving the way for a potential Rs 26,429 crore investment across its textile, leather, food processing, and general manufacturing sectors. Significant investment pledges include 7,386.15 crore by Indian Oil Corporation Limited (IOCL), Patel Agri Industries Private Limited (Rs 5,230 crores), Indo-European Research and Healthcare Private Limited (Rs 2,000 crores), Dev India Project and Spray Engineering Devices Limited (Rs 1,600 crores), UltraTech Cement Limited (Rs 1,000 crores) and Spray Engineering Devices (Rs 800 crore).
The Government of India and the Asian Development Bank (ADB), in a landmark collaboration aimed at bolstering the power infrastructure in Uttarakhand, formalised an agreement for a USD 200 million loan on Wednesday. According to an official press release, this strategic partnership will channel critical resources towards enhancing the quality, efficiency, and reliability of power supply across the state.
After two years of slowdown, Panipat's blanket industry is looking forward to a promising season. Mink blanket demand is strong this year, but production started four months late in September.
As many as 80 plants in Panipat are manufacturing mink blankets, 35 plants polar blankets and 40 plants 3D bedsheets. The 'Textile City' faced a downturn in the mink blanket industry due to decreased domestic demand over the last two years. However, this Diwali season brought relief and joy to both manufacturers and traders.
India on Thursday placed an appeal for a review challenging a decision by the World Trade Organisation's (WTO) dispute settlement body that had ruled against New Delhi's imposition of tariffs on mobile phones and electronic components, among other ICT goods, reported ET. The European Union (EU) brought the case and a WTO panel in April stating that India had violated global trading rules. In response, India has sought a review by the Appellate Body and said in its appeal, "Of the errors of law and legal interpretation by the panel in its report and requests finding by the Appellate Body". Similarly in May, India had appeal a ruling that had favoured Japan but the WTO gave three months, till September 19, to India and the EU to settle the dispute.
After missing yet another Diwali for the finalisation of India and the UK trade deal, both the countries have decided to secure a landmark free-trade deal before the busy year of elections starts in 2024. Both the parties involved have begun crunch-time talks to resolve outstanding issues before elections. A UK team — including Amanda Brooks, director general for trade negotiations, and Douglas McNeill, chief economic adviser to the prime minister — is in New Delhi this week for further talks, according to people familiar with the matter, who asked not to be identified because the discussions are private.
According to the FISME factor, 70% of the MSMEs think that infrastructure should be the focus area of action for the Govt to address economic challenges and strengthen struggling sectors, while 30% think that it should be banking & finance.
Human resources (HR) software have come to be indispensable tools for businesses of all sizes, including small businesses, SMEs (small and medium-sized enterprises) and startups. These tools streamline HR processes, enhance efficiency and contribute to overall organisational success. However, selecting the right HR software tailored to the specific needs of smaller businesses is crucial. When choosing HR software, smaller businesses should focus on essential functions. This includes keeping all employee details in one central database, tracking attendance efficiently, automating payro.
Being a small-business owner is one of the most difficult and stressful jobs in the world. Everywhere you turn, there's another fire to put out or a crisis to be averted. Although there are always elements beyond your control, you can alleviate much of the stress of business ownership by managing the areas within your control. One of these areas is finance.
Digital marketing has revolutionized how businesses attract and engage with potential customers for their products and services. Apart from this, it can still be a challenging concept to keep up with which digital strategy works best in this rapidly growing digital era. Forbes Advisor India has brought together an ultimate guide that walks you through everything you need to be aware of while creating winning digital marketing strategies for your business.
The share of Micro, Small and Medium Enterprises (MSMEs) in India's Gross Domestic Product (GDP) in 2021-22 was 29 per cent, reflecting a decline from the sector's pre-pandemic highs, attributed to the lingering impact of COVID-19.
Data presented in Parliament on Monday revealed that the contribution of MSMEs to India's gross value added, a measure of the country's total output, reached 31 per cent in 2018-19 but subsequently witnessed a decline during the pandemic years.
With a rocky childhood, wobbly upbringing, and dodgy formative years of entrepreneurship, Sibabrata Das- has learned to find order in chaos. The result is a heady fan following for Atomberg. Mumbai, 2019. Thirty days. Almost seven years of a bumpy Atomberg ride was all set for a screeching halt in a month. "Thirty days were all we had," recalls Sibabrata Das, who joined Manoj Meena as a co-founder in 2013.
After two flop ventures in cabs and ecommerce, Shailesh Kumar joined Flipkart as a delivery boy in 2017. Six years later, the village boy from Smastipur, Bihar has built a Rs150-crore logistics company.
“ You can't cross the sea merely by standing and staring at the water. ”
