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President Message
We all understand the urgency of addressing climate change. We recognize the importance of environmentally friendly practices and can understand the global shift towards stricter regulations. However, as MSME representatives, we also have a concern. Many MSMEs, myself included, operate with limited resources. Strict environmental regulations, while necessary, can be a significant hurdle, especially for those of us seeking to export to developed markets. The Carbon Border Adjustment Mechanism (CBAM), for instance, has the potential to make exporting much more expensive. This could severely impact the competitiveness of MSMEs in the global market, limiting our ability to participate in international trade and share our products with the world. The International conference organized by RIA and FISME led to productive discussions. We were fortunate to have speakers from international agencies, academia, and research institutions. Several questions were probed: The current state of discourse on environmental issues; Ensuring that environmental regulations are implemented fairly, considering the limitations of MSMEs; Support that can be provided to MSMEs to help them comply with stricter environmental standards; Alternative approaches to CBAM and how to foster innovation and technological advancements that make environmentally friendly practices more accessible and affordable for MSMEs? Answers to these questions are crucial for MSMEs as they are the backbone of Indian economy. MSMEs are a source of creativity, job creation, and economic growth. I firmly believe through open dialogue and collaboration, we can find solutions that address climate change while also ensuring a level playing field for MSMEs. Finally, my tenure comes to an end on 31st March. A very able colleague Mr. Sandeep K. Jain has already been elected to lead FISME as President from 1st April 2024. I wish him all the best. I also request the readers to shower your love and affection to him tool as you very kindly have done to me. Jai Hind.
Auto-component manufacturer and alumnus of IIT-Kanpur, Sandeep Jain has been unanimously elected President of the Federation of Indian Micro and Small & Medium Enterprises (FISME) for 2024-25. His name was approved at the meeting of the Central Executive Committee of FISME held in New Delhi. Before ascending to the Presidentship, he served as Vice President of FISME. In its long tradition of being politically neutral and run democratically, FISME holds annual elections for one-third members of the strength of its CEC and the newly constituted body elects the President for the year.
With the support of the Ministry of MSME, the RAI Industries Association (RIA) and the Federation of Indian Micro and Small & Medium Enterprises (FISME) organized the two-day International Conference on 'Climate Change Regulations & Green Technology To Reduce Carbon Footprints in MSMEs' on 18 and 19 March 2024 in New Delhi. Inaugurated by Mercy Epao, Joint Secretary-SME at the MSME Ministry, Conference was addressed by four international speakers
Namely Vanessa Erogbogbo, Chief of Green and Inclusive Value Chains, Division of Sustainable and Inclusive Trade, ITC Geneva; Vidya Nathaniel, Associate Programme Officer at ITC Geneva and Carolyn Deere Birkbeck, Executive Director of the Forum on Trade, Environment & the SDGs (TESS) at the Geneva Graduate Institute and 20 odd Indian experts.
For many business owners, the lessons in entrepreneurship that the past several years have left us with are valuable insights to the improvements you can make in 2024. The year 2024 can be a turning point for many businesses worldwide if entrepreneurs adopt the right mindset, skills, and strategies to start and grow a business successfully. One of the greatest challenges of entrepreneurship is making mistakes. Depending on the severity of the mistake, errors can be costly and put the business in jeopardy. Entrepreneurship is a journey that is filled with countless trials and tribulations, but it's important to remember that mistakes will happen.
Under the aegis of the Ministry of MSME, the RAI Industries Association (RIA) and the Federation of Indian Micro and Small & Medium Enterprises (FISME) organized a landmark international conference on "Climate Change Regulations & Green Technology To Reduce Carbon Footprints in MSMEs" in New Delhi today. Speaking on the occasion, Mercy Epao, Joint Secretary-SME at the MSME Ministry, announced plans to establish two new institutes - the National Institution of MSMEs and Green Economy Technology Centre in Hyderabad. "These institutes will handhold MSMEs for documentation, exploring potential markets for green products,...
India has initiated an anti-dumping investigation on imports of Poly Vinyl Chloride (PVC) Resin (suspension grade) from seven countries - China, Indonesia, Japan, South Korea, Taiwan, Thailand, and the United States.
The Directorate General of Trade Remedies (DGTR), under the Commerce and Industry Ministry, has launched this probe in response to a petition filed by three of the five domestic producers of 'PVC Suspension Resins' in India.
India's foreign exchange reserves have achieved a new milestone, climbing to an all-time high of USD 642.631 billion during the week ended March 22, according to data released by the Reserve Bank of India (RBI). This represents an increase of USD 140 million over the previous week's total. The latest surge marks the fifth consecutive week of growth in India's overall forex reserves. In the previous reporting week, the reserves had witnessed a substantial jump of USD 6.396 billion, reaching USD 642.492 billion.
The Reserve Bank of India (RBI) is stepping up its efforts to tackle the "exuberance" in retail lending, expanding its attention to include emerging sectors like mortgage-linked "top-up" loans. Concerns regarding the rising risks to the financial system have led the central bank to bolster its supervision of the industry and urge individual lenders to limit credit in identified high-risk areas, reported Reuters. Though no formal enforcement measures have been implemented yet, the report indicates that the RBI is actively tightening supervision and prodding financial institutions to take proactive measures.
The Ministry of Electronics and Information Technology (MeitY) will unveil a new production-linked incentive (PLI) scheme for electronic component manufacturing after the general elections.
This move comes as the current Rs 3,285 crore Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) expired on March 31, 2024. While no new applications will be accepted under SPECS, the government will continue disbursing incentives to the 42 companies already selected with proposed investments totalling Rs 11,690 crore. As of February 2024, Rs 378.37 crore in incentives had been disbursed.
Navneet Kaushik, a former director at the government's Technology Development Board (TDB), has announced the launch of an angel fund called Jamwant Venture Fund.
This alternative investment fund will focus on early-stage deals in the defence sector, aiming to contribute to the growth and development of indigenous defence technologies in India. Highlighting the fund's mission, Kaushik said, "Our focus is on identifying and nurturing innovative defence technology start-ups that align with India's strategic needs."
In a move aimed at bolstering domestic solar manufacturing capabilities, the Indian government has announced the reinstatement of restrictions on the import of solar modules starting today, April 1, 2024.
This mandate, first introduced in 2021 under the Approved List of Models and Manufacturers (ALMM), requires solar project developers to procure modules exclusively from a pre-approved list of domestic and international manufacturers.
The Delhi High Court has held that a service provider who registers as a Micro, Small and Medium Enterprise (MSME) during an ongoing contract is eligible to claim benefits under the MSME Development (MSMED) Act for services rendered after registration. The case involved a dispute between NBCC India Ltd, a government construction company, and an electrical contractor over non-payment of dues related to a hospital project in Delhi.
In a major boost for Assam's traditional arts and crafts, six iconic products from the state have been granted the prestigious Geographical Indication (GI) tag by the Government of India's GI Registry.
The announcement was made by Assam Chief Minister Himanta Biswa Sarma through a social media post on Sunday. Sarma lauded this achievement as "a big win for Assam's heritage," acknowledging the support from NABARD's Guwahati regional office and the facilitation efforts of renowned GI expert and Padma Shri awardee, Dr. Rajani Kant.
The Goa state government has given the green light for the installation of 30MW rooftop solar photovoltaic (PV) plants across more than 300 government buildings in a move towards sustainable energy. This initiative aims to generate over 4.5 crore units of clean electricity, bolstering Goa's commitment to renewable energy. The installations are slated for completion within the next six months, marking a swift progression towards a greener future for the state.
Odisha is setting its sights high, with plans to attract Rs 10,000 crore in investment for its textiles sector over the next five years.
This ambitious move is poised to not only boost the state's economy but also create over 100,000 job opportunities, signaling a significant leap in its industrial landscape. Bhupendra Singh Poonia, managing director of Industrial Promotion & Investment Corporation of Odisha (IPICOL), highlighted the state government's commitment to this endeavor, reported mint.
Trade between India and Italy is projected to soar by 10-15 per cent annually over the next 4-5 years, according to Claudio Maffioletti, CEO of the Indo-Italian Chamber of Commerce and Industry.
During the inauguration of the Chamber's new office in Bengaluru, Maffioletti pointed out that this bullish outlook comes as interest from companies in both nations to explore business opportunities in each other's markets is witnessing an upswing, reported DH. Bilateral trade hit a record 15 billion euros in 2022, with Indian exports accounting for 10 billion euros and imports from Italy making up the balance. The latter slightly increased in 2023, Maffioletti noted.
India and the Philippines pledged to significantly deepen defense and security cooperation on Tuesday, as the two countries seek to bolster their strategic partnership in the Indo-Pacific. During his visit to Manila, Indian Foreign Minister Subrahmanyam Jaishankar said India hopes to find new areas of collaboration with the Philippines, specifically highlighting the defense and security domains. "We aim to find novel avenues for cooperation, particularly in the areas of defense and security," Jaishankar stated at a joint press conference alongside his Philippine counterpart Enrique Manalo.
Which sectors are likely to have positive impact of India and EFTA TEPA agreement signed recently:
According to the FISME factor, 100% of the MSMEs think that the Textiles and Garments, Leather, Pharma, and Food Processing sectors are likely to have positive impact of India and EFTA TEPA agreement signed recently.
Large organisations are not monolithic entities. Within them exist micro-cultures – smaller, specialised communities united by shared interests, values, or backgrounds. These vibrant ecosystems, often overlooked, hold the key to fostering collaboration, innovation, and ultimately, organisational success. "These micro-cultures," explains Venkattesh R, former president, DCB Bank, "develop their own norms, practices, and social dynamics that contribute to the overall culture." A marketing department, for example, might cultivate a culture of creativity and risk-taking, distinct from the more process-driven environment of finance.
Business loans for startups and new businesses by the Indian government
Ever since PM Modi introduced the Startup India campaign in 2015, several new Micro, Small and Medium Enterprises (MSMEs) have risen significantly. The government launched action plans to promote bank financing for startups and new businesses. It has encouraged startups leading to more job creation and helping the nation with socio-economic growth.
What Is Digital Marketing? Types, Strategies & Best Practices
Also known as online marketing or internet marketing, digital marketing communicates messages through digital channels accessed through electronic devices, including phones, computers and tablets. Digital marketing and traditional marketing, such as print ads and direct mail, share the same ultimate goal: generating product awareness and influencing purchasing decisions to drive sales.
Madurai MSME Body Raises Alarm Over Inadequate Industrial Space In Proposed Master Plan
The Madurai District Tiny and Small Scale Industries Association (MADITSSIA) has expressed concern over the inadequate allocation of land for industrial purposes in the draft master plan released by the Local Planning Authority (LPA).
Members fear that if implemented without revisions, the proposed land classification could severely hamper the growth of the Micro, Small, and Medium Enterprises (MSME) sector in Madurai district over the next two decades.
Bambrew, a Bengaluru-based cleantech startup pioneering sustainable alternatives to single-use plastics, has secured Rs 60 crore (around USD 7 million) in Series A funding. The round was led by Blume Ventures and included equity and debt financing. Approximately Rs 30 crore came in the form of equity investment, reported ET.
Chatha Foods Limited, a frozen food products company, made a strong stock market debut on Wednesday. The company's shares got listed at Rs 73 on the BSE SME platform, marking a premium of 30.36 per cent over the issue price of Rs 56 per share.
The Rs 34-crore initial public offering (IPO) of Chatha Foods witnessed robust investor demand, with the issue being subscribed a whopping 19.28 times.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) has released the 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 February 2024 (Provisional).
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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We all understand the urgency of addressing climate change. We recognize the importance of environmentally friendly practices and can understand the global shift towards stricter regulations. However, as MSME representatives, we also have a concern. Many MSMEs, myself included, operate with limited resources. Strict environmental regulations, while necessary, can be a significant hurdle, especially for those of us seeking to export to developed markets. The Carbon Border Adjustment Mechanism (CBAM), for instance, has the potential to make exporting much more expensive. This could severely impact the competitiveness of MSMEs in the global market, limiting our ability to participate in international trade and share our products with the world. The International conference organized by RIA and FISME led to productive discussions. We were fortunate to have speakers from international agencies, academia, and research institutions. Several questions were probed: The current state of discourse on environmental issues; Ensuring that environmental regulations are implemented fairly, considering the limitations of MSMEs; Support that can be provided to MSMEs to help them comply with stricter environmental standards; Alternative approaches to CBAM and how to foster innovation and technological advancements that make environmentally friendly practices more accessible and affordable for MSMEs? Answers to these questions are crucial for MSMEs as they are the backbone of Indian economy. MSMEs are a source of creativity, job creation, and economic growth. I firmly believe through open dialogue and collaboration, we can find solutions that address climate change while also ensuring a level playing field for MSMEs. Finally, my tenure comes to an end on 31st March. A very able colleague Mr. Sandeep K. Jain has already been elected to lead FISME as President from 1st April 2024. I wish him all the best. I also request the readers to shower your love and affection to him tool as you very kindly have done to me. Jai Hind.
Auto-component manufacturer and alumnus of IIT-Kanpur, Sandeep Jain has been unanimously elected President of the Federation of Indian Micro and Small & Medium Enterprises (FISME) for 2024-25. His name was approved at the meeting of the Central Executive Committee of FISME held in New Delhi. Before ascending to the Presidentship, he served as Vice President of FISME. In its long tradition of being politically neutral and run democratically, FISME holds annual elections for one-third members of the strength of its CEC and the newly constituted body elects the President for the year.
With the support of the Ministry of MSME, the RAI Industries Association (RIA) and the Federation of Indian Micro and Small & Medium Enterprises (FISME) organized the two-day International Conference on 'Climate Change Regulations & Green Technology To Reduce Carbon Footprints in MSMEs' on 18 and 19 March 2024 in New Delhi. Inaugurated by Mercy Epao, Joint Secretary-SME at the MSME Ministry, Conference was addressed by four international speakers
Namely Vanessa Erogbogbo, Chief of Green and Inclusive Value Chains, Division of Sustainable and Inclusive Trade, ITC Geneva; Vidya Nathaniel, Associate Programme Officer at ITC Geneva and Carolyn Deere Birkbeck, Executive Director of the Forum on Trade, Environment & the SDGs (TESS) at the Geneva Graduate Institute and 20 odd Indian experts.
For many business owners, the lessons in entrepreneurship that the past several years have left us with are valuable insights to the improvements you can make in 2024. The year 2024 can be a turning point for many businesses worldwide if entrepreneurs adopt the right mindset, skills, and strategies to start and grow a business successfully. One of the greatest challenges of entrepreneurship is making mistakes. Depending on the severity of the mistake, errors can be costly and put the business in jeopardy. Entrepreneurship is a journey that is filled with countless trials and tribulations, but it's important to remember that mistakes will happen.
India has initiated an anti-dumping investigation on imports of Poly Vinyl Chloride (PVC) Resin (suspension grade) from seven countries - China, Indonesia, Japan, South Korea, Taiwan, Thailand, and the United States.
The Directorate General of Trade Remedies (DGTR), under the Commerce and Industry Ministry, has launched this probe in response to a petition filed by three of the five domestic producers of 'PVC Suspension Resins' in India.
India's foreign exchange reserves have achieved a new milestone, climbing to an all-time high of USD 642.631 billion during the week ended March 22, according to data released by the Reserve Bank of India (RBI). This represents an increase of USD 140 million over the previous week's total. The latest surge marks the fifth consecutive week of growth in India's overall forex reserves. In the previous reporting week, the reserves had witnessed a substantial jump of USD 6.396 billion, reaching USD 642.492 billion.
The Reserve Bank of India (RBI) is stepping up its efforts to tackle the "exuberance" in retail lending, expanding its attention to include emerging sectors like mortgage-linked "top-up" loans. Concerns regarding the rising risks to the financial system have led the central bank to bolster its supervision of the industry and urge individual lenders to limit credit in identified high-risk areas, reported Reuters. Though no formal enforcement measures have been implemented yet, the report indicates that the RBI is actively tightening supervision and prodding financial institutions to take proactive measures.
The Ministry of Electronics and Information Technology (MeitY) will unveil a new production-linked incentive (PLI) scheme for electronic component manufacturing after the general elections.
This move comes as the current Rs 3,285 crore Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) expired on March 31, 2024. While no new applications will be accepted under SPECS, the government will continue disbursing incentives to the 42 companies already selected with proposed investments totalling Rs 11,690 crore. As of February 2024, Rs 378.37 crore in incentives had been disbursed.
Navneet Kaushik, a former director at the government's Technology Development Board (TDB), has announced the launch of an angel fund called Jamwant Venture Fund.
This alternative investment fund will focus on early-stage deals in the defence sector, aiming to contribute to the growth and development of indigenous defence technologies in India. Highlighting the fund's mission, Kaushik said, "Our focus is on identifying and nurturing innovative defence technology start-ups that align with India's strategic needs."
In a move aimed at bolstering domestic solar manufacturing capabilities, the Indian government has announced the reinstatement of restrictions on the import of solar modules starting today, April 1, 2024.
This mandate, first introduced in 2021 under the Approved List of Models and Manufacturers (ALMM), requires solar project developers to procure modules exclusively from a pre-approved list of domestic and international manufacturers.
The Delhi High Court has held that a service provider who registers as a Micro, Small and Medium Enterprise (MSME) during an ongoing contract is eligible to claim benefits under the MSME Development (MSMED) Act for services rendered after registration. The case involved a dispute between NBCC India Ltd, a government construction company, and an electrical contractor over non-payment of dues related to a hospital project in Delhi.
In a major boost for Assam's traditional arts and crafts, six iconic products from the state have been granted the prestigious Geographical Indication (GI) tag by the Government of India's GI Registry.
The announcement was made by Assam Chief Minister Himanta Biswa Sarma through a social media post on Sunday. Sarma lauded this achievement as "a big win for Assam's heritage," acknowledging the support from NABARD's Guwahati regional office and the facilitation efforts of renowned GI expert and Padma Shri awardee, Dr. Rajani Kant.
The Goa state government has given the green light for the installation of 30MW rooftop solar photovoltaic (PV) plants across more than 300 government buildings in a move towards sustainable energy. This initiative aims to generate over 4.5 crore units of clean electricity, bolstering Goa's commitment to renewable energy. The installations are slated for completion within the next six months, marking a swift progression towards a greener future for the state.
Odisha is setting its sights high, with plans to attract Rs 10,000 crore in investment for its textiles sector over the next five years.
This ambitious move is poised to not only boost the state's economy but also create over 100,000 job opportunities, signaling a significant leap in its industrial landscape. Bhupendra Singh Poonia, managing director of Industrial Promotion & Investment Corporation of Odisha (IPICOL), highlighted the state government's commitment to this endeavor, reported mint.
Trade between India and Italy is projected to soar by 10-15 per cent annually over the next 4-5 years, according to Claudio Maffioletti, CEO of the Indo-Italian Chamber of Commerce and Industry.
During the inauguration of the Chamber's new office in Bengaluru, Maffioletti pointed out that this bullish outlook comes as interest from companies in both nations to explore business opportunities in each other's markets is witnessing an upswing, reported DH. Bilateral trade hit a record 15 billion euros in 2022, with Indian exports accounting for 10 billion euros and imports from Italy making up the balance. The latter slightly increased in 2023, Maffioletti noted.
India and the Philippines pledged to significantly deepen defense and security cooperation on Tuesday, as the two countries seek to bolster their strategic partnership in the Indo-Pacific. During his visit to Manila, Indian Foreign Minister Subrahmanyam Jaishankar said India hopes to find new areas of collaboration with the Philippines, specifically highlighting the defense and security domains. "We aim to find novel avenues for cooperation, particularly in the areas of defense and security," Jaishankar stated at a joint press conference alongside his Philippine counterpart Enrique Manalo.
According to the FISME factor, 100% of the MSMEs think that the Textiles and Garments, Leather, Pharma, and Food Processing sectors are likely to have positive impact of India and EFTA TEPA agreement signed recently.
Large organisations are not monolithic entities. Within them exist micro-cultures – smaller, specialised communities united by shared interests, values, or backgrounds. These vibrant ecosystems, often overlooked, hold the key to fostering collaboration, innovation, and ultimately, organisational success. "These micro-cultures," explains Venkattesh R, former president, DCB Bank, "develop their own norms, practices, and social dynamics that contribute to the overall culture." A marketing department, for example, might cultivate a culture of creativity and risk-taking, distinct from the more process-driven environment of finance.
)
Ever since PM Modi introduced the Startup India campaign in 2015, several new Micro, Small and Medium Enterprises (MSMEs) have risen significantly. The government launched action plans to promote bank financing for startups and new businesses. It has encouraged startups leading to more job creation and helping the nation with socio-economic growth.
Also known as online marketing or internet marketing, digital marketing communicates messages through digital channels accessed through electronic devices, including phones, computers and tablets. Digital marketing and traditional marketing, such as print ads and direct mail, share the same ultimate goal: generating product awareness and influencing purchasing decisions to drive sales.
The Madurai District Tiny and Small Scale Industries Association (MADITSSIA) has expressed concern over the inadequate allocation of land for industrial purposes in the draft master plan released by the Local Planning Authority (LPA).
Members fear that if implemented without revisions, the proposed land classification could severely hamper the growth of the Micro, Small, and Medium Enterprises (MSME) sector in Madurai district over the next two decades.
Bambrew, a Bengaluru-based cleantech startup pioneering sustainable alternatives to single-use plastics, has secured Rs 60 crore (around USD 7 million) in Series A funding. The round was led by Blume Ventures and included equity and debt financing. Approximately Rs 30 crore came in the form of equity investment, reported ET.
Chatha Foods Limited, a frozen food products company, made a strong stock market debut on Wednesday. The company's shares got listed at Rs 73 on the BSE SME platform, marking a premium of 30.36 per cent over the issue price of Rs 56 per share.
The Rs 34-crore initial public offering (IPO) of Chatha Foods witnessed robust investor demand, with the issue being subscribed a whopping 19.28 times.
“ The only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. ”
