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  The FISME Factor  


President Message
Mr Animesh SaxenaRBI has continued to raise interest rates to tame inflation. High interest rates and high inflation can have a significant impact on MSMEs. These two factors can affect MSMEs in multiple ways. High interest rates can make borrowing more expensive, making it difficult for MSMEs to access finance. This can lead to a shortage of funds, causing a decline in production, which can ultimately impact. Secondly, high-interest rates can also discourage investment by MSMEs. This is because they have to pay more to borrow funds to invest in their businesses, reducing their ability to expand and take on new projects. These two factors also adversely affect Operating Costs and Sales. Overall, high-interest rates and high inflation can make it challenging for MSMEs to sustain and grow their businesses. To mitigate these effects, MSMEs may need to explore alternative financing options such as venture capital, private equity, or crowdfunding, as well as look for ways to improve operational efficiency and reduce costs. FISME is also exploring new financing avenues like cash discounting platforms or TReDS.
Prashant Patel, President, FISME
Vol XIII, Issue 271: Feb 15, 2023
Investment and institutional reforms could quadruple Meerut GDP by 2027
Business Banter: Lessons from Entrepreneurs
Expecting the Unexpected in Small Business Expansion
Macro Metre
WPI inflation lowers to 4.73% in Jan; records 24-month low
Toy exports from India touch Rs 1,017 cr in Apr-Dec FY23
Domestic Digest
CBDT notifies ITR forms for FY24 w.e.f. Apr 1 Knowledge and News Network (KNN)
FISME thanks RBI for agreeing to issue Guidelines for Banks on Penal Interest
GeM platform to validate all BIS licences of sellers
State Scan
Tamil Nadu launches new EV policy eying Rs 50,000 cr investment Knowledge and News Network (KNN)
CM Bhagwant Mann launches e-timber portal to boost agro-forestry sector
Textile Park to come up in Lucknow under PM MITRA scheme
World Watch
Nepal to export power to India
Malaysian firm to set up copper tube manufacturing plant in Gujarat
Knowledge Store
This mother-daughter’s chikankari venture bagged Rs 75 lakh funding on Shark Tank India
...And A Lot More


Investment and institutional reforms could quadruple Meerut GDP by 2027

Following the steps of the state to make Uttar Pradesh USD 1 trillion economy, a round table was recently held in New Delhi comprising of stakeholders, economists and experts to discuss quadrupling the GDP of Meerut district by 2027. A first of its kind exercise has been undertaken by Meerut Citizen Forum in association with Federation of Indian Micro and Small & Medium Enterprises (FISME). The study is being headed by Dr. Manak Singhi, IES and former Senior Economic Advisor in the central Ministries including Commerce, Corporate Affairs and Urban Development.

Business Banter: Lessons from Entrepreneurs

Expecting the Unexpected in Small Business Expansion

Thinking of opening a second location for your small business? Congratulations—expansion, while stressful at times, is a sure sign of your business' success. After all, you've done so well at your primary location that you need another to keep up with demand. This is the stage that the Candle Pour, a Tampa-based custom candle-making shop, was in during the fall of 2019. Co-owners Misty and Dennis Akers had opened their primary location earlier that year, but in 2020, COVID-19 put their expansion plans on the backburner.
Writing on the Wall

RBI remains steadfast in its commitment to bring down inflation

In its first meeting of this calendar year, the monetary policy committee of the Reserve Bank of India has voted to raise the benchmark repo rate by 25 basis points, continuing its efforts to bring down inflation. Since the beginning of this tightening cycle, the MPC has cumulatively hiked rates by 250 basis points. The repo rate now stands at 6.5 per cent. Alongside, the committee has also retained its stance, deciding to remain focused on...

Media Monitor

Macro Metre

WPI inflation lowers to 4.73% in Jan; records 24-month low

The annual rate of inflation based on all India Wholesale Price Index (WPI) has fallen to a 24-month low of 4.73 per cent in January 2023, revealed the government data on Tuesday. Decline in the rate of inflation last month is primarily contributed by mineral oils, chemicals & chemical products, textiles, crude petroleum & natural gas, textiles, and food products, said the Ministry of Commerce & Industry in an official statement.

Toy exports from India touch Rs 1,017 cr in Apr-Dec FY23

The Made in India toys continue to tap global markets as India’s toy exports touched Rs 1,017 crore during April-December period of this fiscal, according to a government data. "Made in India’ toys continue to tap global markets! India’s toy exports rose to more than 6 times in April-December 2022 as compared to the same period in 2013," Union Commerce and Industry Minister Piyush Goyal said in a tweet on Saturday.

RBI hikes repo rate by 25 bps to 6.5%

Reserve Bank of India (RBI) on Wednesday announced an increase in the repo rate by 25 basis points (bps) to 6.5 per cent as the Monetary Policy Committee (MPC) voted in favour of repo rate decision by 4 votes to 2. In his post meeting address RBI Governor Shaktikanta Das said that it aims to expand scope for TReDS platform to help improve cash flows of MSMEs. “MPC also voted to continue focus on withdrawal of accommodation and in favour of stance decision by 4 votes to 2,” said Das.

Domestic Digest

CBDT notifies ITR forms for FY24 w.e.f. Apr 1

The Central Board of Direct Taxes (CBDT) has notified Income-tax Return Forms (ITR Forms) for the Assessment Year 2023-24 vide Notifications No. 04 & 05 of 2023 dated February 2, 2023 and February 14, 2023. These ITR forms will come into force from April 1, 2023 and have been notified well in advance in order to enable filing of returns from the beginning of the ensuing Assessment Year. No significant changes have been made to the ITR Forms in comparison to last year’s ITR Forms in order to facilitate the taxpayers and to improve ease of filing.

FISME thanks RBI for agreeing to issue Guidelines for Banks on Penal Interest

While presenting the Monetary Policy, RBI Governor Shaktikanta Das has conceded the divergence of views in regulated entities on penal interest on advances. “At present, Regulated Entities (REs) are required to have a policy for levy of penal interest on advances. The REs, however, follow divergent practices on levying of such charges. In certain cases, these charges are founded to be excessive”, he noted. “To further enhance transparency, reasonableness and consumer protection, draft guidelines on levy of penal charges will be issued to obtain comments from stakeholders”, RBI Governor announced.

GeM platform to validate all BIS licences of sellers

Government e-Marketplace (GeM) is in process of validating all kind of BIS licence like CRS, MANAK and FMCS through the online information being provided by Bureau of Indian Standards (BIS). It has brought to the attention of sellers that they need to ensure that BIS licence information are correct and valid in case their product is having BIS licence and they have indicated the same on the GeM portal. “Please take a note of this and take remedial action once the feature is launched,” said the online platform for public procurement.

MoD set-aside 75% of capital procurement for local industry

In a bold move to strengthen the country's self-reliance in defence manufacturing, the government has announced that a whopping 75 per cent of its defence capital procurement budget in 2023-24 will be reserved for the local industry. Addressing the 'Bandhan' and valedictory ceremony of Aero India 2023, Union Defence Minister Rajnath Singh on Wednesday said "We increased the share for the Indian defence industry to 64 per cent for 2021-22, then it increased to 65 per cent breaking the previous record and for 2022-23, we increased it to 68 per cent.”
State Scan

Tamil Nadu    

Tamil Nadu launches new EV policy eying Rs 50,000 cr investment

Tamil Nadu Chief Minister M.K. Stalin on Tuesday launched the new EV policy for the state. The state government through this policy aims to attract Rs 50,000 crore worth of investments in EV manufacturing, create over 1.5 lakh new jobs and develop a robust EV ecosystem in the State. The EV policy will provide various sops including reimbursement of state goods and services tax (SGST), investment and turnover based subsidy, advanced chemistry cell subsidy, electrification of public and commercial transport, formation of electric vehicle cities among others.


CM Bhagwant Mann launches e-timber portal to boost agro-forestry sector

Punjab chief minister Bhagwant Mann on Sunday launched India’s first e-timber portal in Ludhiana to allow farmers to sell their timber online. Addressing the occasion, Mann said, “this first of its kind portal in the country will ensure complete transparency in selling and buying of timber thereby benefitting the farmers.” “The buying and selling of timber till now was done largely through unorganised markets due to which farmers were not able to get its remunerative prices. With the launch of the Portal, remunerative price for the product will be provided and this will encourage farmers towards Agro-forestry,” Mann said.

Uttar Pradesh    

Textile Park to come up in Lucknow under PM MITRA scheme

The Uttar Pradesh cabinet on Tuesday approved the setting up of a textile park near Lucknow under the Prime Minister Mega Integrated Textile Region and Apparel Scheme (PM MITRA). Around 1,000 acre land will be transferred free of cost to the department of handloom and textiles for setting up the park. Nearly 903 acre land fr0m Lucknow and 259 acre fr0m Hardoi will be utilized for setting up the park, an official release said. As per the official statement, a total of Rs 10 crore investment will be needed for the project.51 per cent of the investment will be borne by the state government and the remaining 49 per cent by the Centre.


M&M inks pact with Telangana govt to set up EV manufacturing facility in state

The Telangana government has signed an agreement with Mahindra & Mahindra (M&M) to set up an electric vehicle manufacturing facility at Zaheerabad. As per reports, the proposed EV manufacturing facility is part of the company’s plan to expand the existing manufacturing facility at Zaheerabad in Medak district. M&M said the proposed expansion would entail setting up of manufacturing facility, including development and production of electric 3 and 4 wheelers pertaining to Last Mile Mobility business at the current plant situated at Zaheerabad.
World Watch


Nepal to export power to India

Discussing various aspects of Nepal-India relations Foreign Secretary of both the countries have agreed to allow the export of power from Nepal to India on a long-term basis. This commitment was expressed by Foreign Secretary Vinay Mohan Kwatra and his Nepali counterpart Bharat Raj Paudyal during a bilateral meeting in Kathmandu on Monday. Kwatra is currently on a two-day official visit to India’s immediate neighbour to hold talks with its top leaders on wide range of multifaceted cooperation between the two neighbouring countries, including connectivity, trade and transit and power sector cooperation.
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Malaysian firm to set up copper tube manufacturing plant in Gujarat

The Indian wing of Malaysian copper tube maker, Mettube on Monday inked a pact with the Gujarat government to set up a copper tube manufacturing plant at Sanand in Ahmedabad district. The plant that will be set up in Sanand-II industrial area will manufacture “fifth-generation copper tubes” to be used in air conditioning and refrigeration applications, stated an official release from the state government. As per reports, the tube manufacturing plant is expected to be commissioned by January 2024. “This project will boost the purpose of Atmanirbhar Bharat. This will be the first ever copper tube manufacturing plant to be set up in India and Gujarat,” said Bhupendra Patel, Chief Minister of Gujarat at the time of signing of the MoU between Gujarat Government officials and the senior officers of Mettube India at Gandhinagar.
Read More    Back to Top
FISME’s official Twitter handle
Knowledge and News Network (KNN)
KNN India’s official Twitter handle
Anil Bhardwaj, Secretary General
Other Events


Date: 18 - 22 Feb 2023
Venue: India Exposition Mart, Greater Noida
See Details

Food & Beverage Expo

Date: 23 - 25 Feb 2023
Venue: Chennai Trade Centre, Chennai
See Details


Date: 23 - 25 Feb 2023
Venue: Chennai Trade Centre, Chennai
See Details


Date: 24 - 26 Feb 2023
Venue: Hyderabad International Convention Centre
See Details

MachAuto Expo

Date: 24 - 27 Feb 2023
Venue: Ludhiana Exhibition Centre (LEC) Sahnewal, Sahnewal
See Details

Asia Jewels Show- Hyderabad

Date: 25 - 27 Feb 2023
Venue: Taj Krishna, Hyderabad
See Details
Your Views

Will the Union Budget 2023-24 accelerate growth of Indian MSMEs?

According to the FISME factor, 100% of MSMEs think that the Union Budget 2023-24 will accelerate growth of Indian MSMEs.
Knowledge Store

HR Heuristics

Help Wanted: How to Optimize Your Hiring Strategy

Once you've hung the proverbial Help Wanted sign on job boards like ZipRecruiter and more, candidates will hopefully come knocking. To stay organized and hire the best, you'll need to streamline the process. Optimizing your hiring strategy is important because it can help you attract and retain top talent, reduce turnover, and improve your organization's overall performance.

Finance Fundamentals

What Startup Founders Need To Know About Fundraising In 2023

Now that it is gone, I can say that 2022 was another challenging year for the world economy, startups, big companies and people everywhere. After almost three years of a pandemic, a war and an energy crisis, geopolitical tensions and many other crises at the human level, the world is still surviving. But with so many events happening worldwide, how are things changing for startups and SaaS businesses?

Marketing Mantras

The Future of Startup Marketing: 2 Popular Lead Magnets Your Startup Needs

The startup landscape is constantly evolving, and to stay competitive, entrepreneurs, investors, marketers and business leaders must stay ahead of the latest trends and strategies. One such trend gaining traction in the startup world is using eBooks and whitepapers as "lead magnets." Honestly, it's not a new trend or a fad.

Policy Polemic

Bamboo MSME suffers as Maharashtra Forest Dept delays payment

Micro, Small and Medium Enterprise (MSME), Faridabad’s Green Gold Bamboo Tech Private Limited is facing delay payment issues from the state forest department in Maharashtra, reported TOI. Despite the central government taking several initiatives to promote bamboo the uninterested behaviour of Maharashtra’s forest department is dispiriting small entrepreneurs by failing to release dues for a long time.

SME Special

A Gurugram startup is helping users charge their EVs at their favourite holiday destinations

As a child growing up in Himachal Pradesh, Sudhir Nayak witnessed how global warming affected the delicate climate of his hometown. He says snowfall in the region has gradually declined over the years. “In my teens, I have seen snow only twice,” Sudhir, Founder of EV (electric vehicle) charging solutions provider SunFuel Electric, recalls.

Success Story

This mother-daughter’s chikankari venture bagged Rs 75 lakh funding on Shark Tank India

In January 2021, Aakriti and Poonam Rawal had no thoughts on raising funding for their venture, House of Chikankari. Started in 2020 during the pandemic, the mother-daughter duo had already made good headway in popularising the brand, closing the first year with a revenue of 33 lakh. More than two years later, they are expected to close the current fiscal at Rs 17-18 crore with a net profit of around Rs 2 crore.


Since April, 2018 the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) has been bringing out the employment related statistics in the formal sector covering the period September 2017 onwards, using information on the number of subscribers who have subscribed under three major schemes.

Quotable Quotes

“We are what we repeatedly do. Excellence is therefore not an act but a habit. ”
– - Aristotle- Ancient Greek philosopher & polymath
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:
New Members

2 New Members Join FISME

2 new MSMEs join FISME during the period from 1st February to 15th February 2022
Reader Reactions

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Editorial Team:
Hon. Editor: Anil Bhardwaj
Asstt. Editor: Kalpana Sharma
Types setting & websdesigning: Sanjay Sachan  


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