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President Message
After prolonged negotiations, the India- United Kingdom Comprehensive Economic and Trade Agreement (CETA) has been signed. It is a monumental step forward for every one of us. This landmark agreement offers unprecedented advantages, most notably duty-free access for 99% of Indian exports to the UK. Imagine the immediate boost to your competitiveness in sectors like textiles, leather goods, gems and jewelry, agricultural products, and software services! This levels the playing field, allowing our MSMEs to truly shine on the global stage. Beyond tariff elimination, the FTA also promises simplified trade processes, reduced documentation, and streamlined customs clearance, making international trade more accessible and efficient for all. Furthermore, the agreement will enhance mobility for Indian professionals, opening new avenues for our service-based MSMEs in IT, consulting, and other fields. This FTA is not just about trade; it's about fostering growth, creating jobs, and integrating our MSMEs deeper into global value chains. It's a testament to India's growing economic prowess and a clear signal for our enterprises to think globally. We intend to organize a series of programmes to delineate each aspect of the FTA. Let us seize this incredible opportunity to expand our reach, innovate, and contribute to a stronger, more prosperous India.
FISME, in collaboration with the New Indian Consumer Initiative, co-hosted the "Open & Interoperable by Design: Powering India's Start-ups in Key Sectors" Roundtable. This event, held on July 18th, in New Delhi, focused on accelerating innovation in Healthtech, Fintech, Edtech, and Agritech. The roundtable addressed the importance of interoperability, flexible licensing, and other elements of openness to ensure India's application-layer innovators can seamlessly reach users, especially as AI proliferates in the world's third-largest startup ecosystem.
A delegation comprising members of FISME’s Central Executive Committee and member organizations participated in an interactive session jointly organized by FISME and the Department for Business and Trade (DBT) at the British High Commission on 24 July. Held in the context of the landmark UK-India Free Trade Agreement (FTA) signing, the session highlighted the evolving UK-India economic partnership. It also offered valuable insights into the UK market and outlined various business opportunities and support mechanisms available to Indian MSMEs through the DBT.
On July 31, 2025, FISME, serving as the secretariat of the ‘Friends of MSMEs in Parliament’ forum, organized the 9th edition of “Samwad: Dialogue with MSMEs” in New Delhi. The dialogue aimed to review and deliberate on the emerging challenges confronting Micro, Small and Medium Enterprises (MSMEs) across India. The session was chaired by Shri Shankar Lalwani, Hon’ble Member of Parliament from Indore, and convened by Shri Rajendra Agrawal, former MP from Meerut.
The fundamental purpose of building systems in your business is to shift from reactive to proactive operations. Growing a small business isn't just about working harder — it's about understanding the fundamental dimensions that drive sustainable growth. After over 25 years of bootstrapping Marketcircle, I've learned that successful businesses master three critical elements: vision, systems and team. Each plays a unique role depending on where you are in your entrepreneurial journey.
On July 24, New Delhi and London signed the Comprehensive Economic and Trade Agreement (CETA), India's first such pact with a G7 nation. Touted as “historic”, the agreement aims to double bilateral trade by 2030. It offers unprecedented market access—from duty-free exports of Indian textiles, leather and gems to sharply-reduced tariffs on iconic British products such as Scotch whisky and luxury cars. Once the deal is ratified by both houses of the British Parliament, India will get to export its textiles, leather, vegetable oils and gems and jewellery, among other goods, duty-free to the UK.
The Reserve Bank of India (RBI) has reported a significant annual growth in the country’s services trade for June 2025.
According to the latest data, India’s services exports rose by 12 per cent year-on-year to reach USD 32.10 billion. On the other hand, services imports increased by 5 per cent to US$ 15.89 billion during the same period. Despite the yearly growth, both exports and imports witnessed a slight dip on a month-on-month basis. Services exports fell by 1 per cent, while imports declined more sharply by 4.77 per cent compared to May 2025.
India’s manufacturing activity surged to a 16-month high in July, driven by strong growth in production and new orders, according to the HSBC India Manufacturing Purchasing Managers’ Index (PMI) by S&P Global.
The PMI rose to 59.1 in July, up from 58.4 in June, marking the highest level since March 2023. A PMI above 50 indicates expansion. The robust performance was supported by a sharp rise in new orders and improved demand conditions. Many firms credited successful marketing efforts for the surge, with overall sales rising at the fastest pace in nearly five years. As a result, production saw its strongest growth in 15 months.
In a significant development for bilateral trade, US President Donald Trump on Wednesday announced a 25 percent tariff on Indian exports, effective August 1, alongside an unspecified penalty related to India’s defence and energy ties with Russia. The move could adversely impact India’s outbound shipments to the United States—its largest export market, which accounts for roughly 20 percent of total exports. The announcement follows the failure of five rounds of negotiations between India and the US to conclude an interim trade agreement.
The Department for Promotion of Industry and Internal Trade (DPIIT) has entered into a Memorandum of Understanding (MoU) with Roche Products (India) Pvt. Ltd. to strengthen support for DPIIT-recognised startups innovating in critical therapeutic domains, including oncology, neurology, ophthalmology, haematology, and rare diseases. Under the agreement, Roche India will provide mentorship from its global network of experts, facilitate pilot and validation studies, and extend access to advanced technologies, infrastructure, and international platforms to help scale promising innovations from Indian startups.
The government has accelerated its timeline for mandatory use of domestically manufactured solar cells, moving the implementation date from June 2026 to this year as part of efforts to align solar cell production with module manufacturing capacity. The Ministry of New and Renewable Energy issued the directive on July 28, targeting a reduction in the significant gap between India's solar manufacturing capabilities. The ministry has instructed major power public sector undertakings, including NTPC, SJVN, NHPC, and Solar Energy Corporation of India, to incorporate the domestic solar cell requirement into their renewable energy project tenders.
Union Minister Shivraj Singh Chouhan, responsible for Agriculture and Rural Development, met Rajasthan Chief Minister Bhajan Lal Sharma on July 28 at Krishi Bhawan, New Delhi, to evaluate and strategise several flagship rural and agricultural initiatives. A major highlight of the meeting was the release of Rs 4,384 crore to Rajasthan under MGNREGA for the 2025–26 fiscal year: Rs 3,286 crore for wages, Rs 944 crore for materials, and Rs 154 crore for administrative costs. CM Sharma thanked the Centre for the timely support on behalf of the state.
The Indian tea industry is facing a challenging year in 2025, dealing with a mix of production issues, price drops, and rising imports that are hurting domestic producers.
According to the Indian Tea Association (ITA), tea production has improved compared to 2024’s poor output but remains lower than 2023 levels. “All-India tea production fell by nearly 8 per cent in 2024 due to erratic weather and pest attacks. While 2025 has seen a 25.76 per cent recovery between January and May, it’s only relative to last year’s weak performance,” said Arijit Raha, Secretary General of ITA.
Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, on Thursday inaugurated a 1 megawatt (MW) Green Hydrogen Plant at the Deendayal Port Authority (DPA) in Kandla, Gujarat.
The facility, part of a larger 10 MW project, was hailed as a key milestone under the National Green Hydrogen Mission. “This commissioning demonstrates our commitment to Net Zero and sets a new benchmark in India’s green hydrogen ecosystem,” Sonowal said, calling the development a significant stride in India’s transition to sustainable energy sources.
The Andhra Pradesh government on Friday approved a draft scheme offering USD 600 million in incentives to attract electronics component manufacturers and strengthen domestic production capabilities. The move complements a broader national initiative announced in March, when the central government approved a Rs 229.19 billion (approximately USD 2.62 billion) plan to support local electronics components manufacturing.
In a significant move to strengthen Uttar Pradesh’s Micro, Small, and Medium Enterprises (MSME) sector, Chief Minister Yogi Adityanath has launched the ‘UP Mart Portal’—a comprehensive digital platform aimed at supporting entrepreneurs in accessing machinery, services, and industrial support with greater ease. The portal was officially unveiled during the ‘YUVA Conclave’ held yesterday and is envisioned as a one-stop solution to streamline the process of setting up and scaling businesses across the state.
The Union government has agreed to provide Rs 478.5 crore to Uttarakhand for the implementation of the Digital India Land Records Modernisation Programme (DILRMP). The assurance came after Chief Minister Pushkar Singh Dhami requested support from Union Rural Development and Panchayati Raj Minister Shivraj Singh Chouhan to modernise the state’s land record system using digital technology.
The Chintan Research Foundation (CRF) recently hosted a high-level closed-door discussion on "India-EU Defence Cooperation: Partnering Europe’s Security Push", held on July 28. The session brought together senior European diplomats, Indian industry leaders, and strategic experts to explore how India’s defence transformation aligns with the EU’s evolving security priorities. Moderated by veteran journalist Vishnu Som, the dialogue focused on the EU’s new Euro 800 billion “Readiness 2030 (ReArm Europe)” plan, aimed at boosting defence autonomy.
India and the United Kingdom signed a landmark free trade agreement (FTA) on July 24, 2025, which is set to give a big boost to Indian renewable energy exports. The deal includes zero tariffs on cleantech products such as solar modules, wind turbines, and related engineering equipment, making Indian goods more competitive in the UK market. This agreement comes at a crucial time as renewable energy demand from the US has slowed due to changes in its incentive policies. With this slump reducing exports to the US, India’s access to the UK market offers an important alternative for its cleantech industry.
What is the primary reason of your switching loan provider?
According to the FISME factor, 70% of MSMEs believe that simpler documentation or faster disbursement is the primary reason for switching loan providers, while 30% believe it is better customer service.
Is AI reshaping human resources for the better? All you need to know
There is a fundamental transformation underway in how organizsions understand and manage their people. For a long time, human resource (HR) leaders relied on annual surveys, exit interviews, and manager observations to assess workforce sentiment and make talent decisions. While these methods were useful, they were usually behind the moment-by-moment workplace realities. Today, artificial intelligence (AI) and machine learning are opening the door to a new age of real-time, data-driven HR- one that will enable leaders to act sooner, more precisely, and more compassionately.
How financial fitness can help entrepreneurs achieve long-term success
Financial fitness isn’t a one-time exercise. Just like staying physically fit requires regular workouts, keeping your finances in shape means tracking and adjusting them regularly. Being an entrepreneur is no small feat. You’re constantly juggling tasks, taking risks, and putting your heart into building something meaningful. But amidst all the hustle, one thing that often takes a backseat is your financial health. Just like physical fitness keeps your body in shape, financial fitness ensures your business and personal finances remain strong and resilient over the long term.
Email marketing lets you directly communicate with people who’ve already expressed interest in your work, build trust, drive engagement and bring in sales. But what actually makes someone open your emails, engage with your content and ultimately buy what you’re offering? It takes more than a subscriber list and the occasional update (though consistency matters).
Haryana Industries Protest Against 75% Increase In Fixed Power Charges
Industrial associations across Haryana have launched a united protest against the recent increase in power tariffs, calling it financially burdensome and potentially detrimental to business operations.
The Confederation of Haryana Industrial Associations (CHIA) convened a meeting on July 24, where representatives from 24 industrial hubs—including Gurgaon, Bahadurgarh, Rewari, Sohna, Rohtak, Karnal, Faridabad, Rai, and Kundli—voiced strong opposition to the new electricity charges.
Spunweb Nonwoven Shares List At Strong Premium, Surge 65% Over IPO Price
Shares of Spunweb Nonwoven made a robust debut on the NSE Emerge, listing at Rs 151, a 57.29 per cent premium over the initial public offer (IPO) price of Rs 96. The stock further climbed to Rs 158.55, registering a 65.16 per cent gain over the issue price, and is currently frozen at its 5 per cent upper circuit limit from the listing price. During the trading session, the stock witnessed a high of Rs 158.55 and a low of Rs 151, with approximately 25.90 lakh shares exchanging hands.
Sellowrap Industries Lists at 8% Premium on NSE SME
Sellowrap Industries had a strong start on the Indian stock market today, with its shares debuting at Rs 90 apiece on the NSE SME platform—an 8.43 per cent premium over the issue price of Rs 83. The listing performance surpassed market expectations, with a grey market premium (GMP) of 6 per cent just ahead of the debut. The company, a manufacturer of automotive components, launched its initial public offering (IPO) under the SME category.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) has released the Quick Estimate of Index of Industrial Production and Use-Based Index for the month of June 2025 (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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After prolonged negotiations, the India- United Kingdom Comprehensive Economic and Trade Agreement (CETA) has been signed. It is a monumental step forward for every one of us. This landmark agreement offers unprecedented advantages, most notably duty-free access for 99% of Indian exports to the UK. Imagine the immediate boost to your competitiveness in sectors like textiles, leather goods, gems and jewelry, agricultural products, and software services! This levels the playing field, allowing our MSMEs to truly shine on the global stage. Beyond tariff elimination, the FTA also promises simplified trade processes, reduced documentation, and streamlined customs clearance, making international trade more accessible and efficient for all. Furthermore, the agreement will enhance mobility for Indian professionals, opening new avenues for our service-based MSMEs in IT, consulting, and other fields. This FTA is not just about trade; it's about fostering growth, creating jobs, and integrating our MSMEs deeper into global value chains. It's a testament to India's growing economic prowess and a clear signal for our enterprises to think globally. We intend to organize a series of programmes to delineate each aspect of the FTA. Let us seize this incredible opportunity to expand our reach, innovate, and contribute to a stronger, more prosperous India.
FISME, in collaboration with the New Indian Consumer Initiative, co-hosted the "Open & Interoperable by Design: Powering India's Start-ups in Key Sectors" Roundtable. This event, held on July 18th, in New Delhi, focused on accelerating innovation in Healthtech, Fintech, Edtech, and Agritech. The roundtable addressed the importance of interoperability, flexible licensing, and other elements of openness to ensure India's application-layer innovators can seamlessly reach users, especially as AI proliferates in the world's third-largest startup ecosystem.
A delegation comprising members of FISME’s Central Executive Committee and member organizations participated in an interactive session jointly organized by FISME and the Department for Business and Trade (DBT) at the British High Commission on 24 July. Held in the context of the landmark UK-India Free Trade Agreement (FTA) signing, the session highlighted the evolving UK-India economic partnership. It also offered valuable insights into the UK market and outlined various business opportunities and support mechanisms available to Indian MSMEs through the DBT.
On July 31, 2025, FISME, serving as the secretariat of the ‘Friends of MSMEs in Parliament’ forum, organized the 9th edition of “Samwad: Dialogue with MSMEs” in New Delhi. The dialogue aimed to review and deliberate on the emerging challenges confronting Micro, Small and Medium Enterprises (MSMEs) across India. The session was chaired by Shri Shankar Lalwani, Hon’ble Member of Parliament from Indore, and convened by Shri Rajendra Agrawal, former MP from Meerut.
The Reserve Bank of India (RBI) has reported a significant annual growth in the country’s services trade for June 2025.
According to the latest data, India’s services exports rose by 12 per cent year-on-year to reach USD 32.10 billion. On the other hand, services imports increased by 5 per cent to US$ 15.89 billion during the same period. Despite the yearly growth, both exports and imports witnessed a slight dip on a month-on-month basis. Services exports fell by 1 per cent, while imports declined more sharply by 4.77 per cent compared to May 2025.
India’s manufacturing activity surged to a 16-month high in July, driven by strong growth in production and new orders, according to the HSBC India Manufacturing Purchasing Managers’ Index (PMI) by S&P Global.
The PMI rose to 59.1 in July, up from 58.4 in June, marking the highest level since March 2023. A PMI above 50 indicates expansion. The robust performance was supported by a sharp rise in new orders and improved demand conditions. Many firms credited successful marketing efforts for the surge, with overall sales rising at the fastest pace in nearly five years. As a result, production saw its strongest growth in 15 months.
In a significant development for bilateral trade, US President Donald Trump on Wednesday announced a 25 percent tariff on Indian exports, effective August 1, alongside an unspecified penalty related to India’s defence and energy ties with Russia. The move could adversely impact India’s outbound shipments to the United States—its largest export market, which accounts for roughly 20 percent of total exports. The announcement follows the failure of five rounds of negotiations between India and the US to conclude an interim trade agreement.
The Department for Promotion of Industry and Internal Trade (DPIIT) has entered into a Memorandum of Understanding (MoU) with Roche Products (India) Pvt. Ltd. to strengthen support for DPIIT-recognised startups innovating in critical therapeutic domains, including oncology, neurology, ophthalmology, haematology, and rare diseases. Under the agreement, Roche India will provide mentorship from its global network of experts, facilitate pilot and validation studies, and extend access to advanced technologies, infrastructure, and international platforms to help scale promising innovations from Indian startups.
The government has accelerated its timeline for mandatory use of domestically manufactured solar cells, moving the implementation date from June 2026 to this year as part of efforts to align solar cell production with module manufacturing capacity. The Ministry of New and Renewable Energy issued the directive on July 28, targeting a reduction in the significant gap between India's solar manufacturing capabilities. The ministry has instructed major power public sector undertakings, including NTPC, SJVN, NHPC, and Solar Energy Corporation of India, to incorporate the domestic solar cell requirement into their renewable energy project tenders.
Union Minister Shivraj Singh Chouhan, responsible for Agriculture and Rural Development, met Rajasthan Chief Minister Bhajan Lal Sharma on July 28 at Krishi Bhawan, New Delhi, to evaluate and strategise several flagship rural and agricultural initiatives. A major highlight of the meeting was the release of Rs 4,384 crore to Rajasthan under MGNREGA for the 2025–26 fiscal year: Rs 3,286 crore for wages, Rs 944 crore for materials, and Rs 154 crore for administrative costs. CM Sharma thanked the Centre for the timely support on behalf of the state.
The Indian tea industry is facing a challenging year in 2025, dealing with a mix of production issues, price drops, and rising imports that are hurting domestic producers.
According to the Indian Tea Association (ITA), tea production has improved compared to 2024’s poor output but remains lower than 2023 levels. “All-India tea production fell by nearly 8 per cent in 2024 due to erratic weather and pest attacks. While 2025 has seen a 25.76 per cent recovery between January and May, it’s only relative to last year’s weak performance,” said Arijit Raha, Secretary General of ITA.
Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, on Thursday inaugurated a 1 megawatt (MW) Green Hydrogen Plant at the Deendayal Port Authority (DPA) in Kandla, Gujarat.
The facility, part of a larger 10 MW project, was hailed as a key milestone under the National Green Hydrogen Mission. “This commissioning demonstrates our commitment to Net Zero and sets a new benchmark in India’s green hydrogen ecosystem,” Sonowal said, calling the development a significant stride in India’s transition to sustainable energy sources.
The Andhra Pradesh government on Friday approved a draft scheme offering USD 600 million in incentives to attract electronics component manufacturers and strengthen domestic production capabilities. The move complements a broader national initiative announced in March, when the central government approved a Rs 229.19 billion (approximately USD 2.62 billion) plan to support local electronics components manufacturing.
In a significant move to strengthen Uttar Pradesh’s Micro, Small, and Medium Enterprises (MSME) sector, Chief Minister Yogi Adityanath has launched the ‘UP Mart Portal’—a comprehensive digital platform aimed at supporting entrepreneurs in accessing machinery, services, and industrial support with greater ease. The portal was officially unveiled during the ‘YUVA Conclave’ held yesterday and is envisioned as a one-stop solution to streamline the process of setting up and scaling businesses across the state.
The Union government has agreed to provide Rs 478.5 crore to Uttarakhand for the implementation of the Digital India Land Records Modernisation Programme (DILRMP). The assurance came after Chief Minister Pushkar Singh Dhami requested support from Union Rural Development and Panchayati Raj Minister Shivraj Singh Chouhan to modernise the state’s land record system using digital technology.
The Chintan Research Foundation (CRF) recently hosted a high-level closed-door discussion on "India-EU Defence Cooperation: Partnering Europe’s Security Push", held on July 28. The session brought together senior European diplomats, Indian industry leaders, and strategic experts to explore how India’s defence transformation aligns with the EU’s evolving security priorities. Moderated by veteran journalist Vishnu Som, the dialogue focused on the EU’s new Euro 800 billion “Readiness 2030 (ReArm Europe)” plan, aimed at boosting defence autonomy.
India and the United Kingdom signed a landmark free trade agreement (FTA) on July 24, 2025, which is set to give a big boost to Indian renewable energy exports. The deal includes zero tariffs on cleantech products such as solar modules, wind turbines, and related engineering equipment, making Indian goods more competitive in the UK market. This agreement comes at a crucial time as renewable energy demand from the US has slowed due to changes in its incentive policies. With this slump reducing exports to the US, India’s access to the UK market offers an important alternative for its cleantech industry.
According to the FISME factor, 70% of MSMEs believe that simpler documentation or faster disbursement is the primary reason for switching loan providers, while 30% believe it is better customer service.
There is a fundamental transformation underway in how organizsions understand and manage their people. For a long time, human resource (HR) leaders relied on annual surveys, exit interviews, and manager observations to assess workforce sentiment and make talent decisions. While these methods were useful, they were usually behind the moment-by-moment workplace realities. Today, artificial intelligence (AI) and machine learning are opening the door to a new age of real-time, data-driven HR- one that will enable leaders to act sooner, more precisely, and more compassionately.
Financial fitness isn’t a one-time exercise. Just like staying physically fit requires regular workouts, keeping your finances in shape means tracking and adjusting them regularly. Being an entrepreneur is no small feat. You’re constantly juggling tasks, taking risks, and putting your heart into building something meaningful. But amidst all the hustle, one thing that often takes a backseat is your financial health. Just like physical fitness keeps your body in shape, financial fitness ensures your business and personal finances remain strong and resilient over the long term.
Email marketing lets you directly communicate with people who’ve already expressed interest in your work, build trust, drive engagement and bring in sales. But what actually makes someone open your emails, engage with your content and ultimately buy what you’re offering? It takes more than a subscriber list and the occasional update (though consistency matters).
Industrial associations across Haryana have launched a united protest against the recent increase in power tariffs, calling it financially burdensome and potentially detrimental to business operations.
The Confederation of Haryana Industrial Associations (CHIA) convened a meeting on July 24, where representatives from 24 industrial hubs—including Gurgaon, Bahadurgarh, Rewari, Sohna, Rohtak, Karnal, Faridabad, Rai, and Kundli—voiced strong opposition to the new electricity charges.
Shares of Spunweb Nonwoven made a robust debut on the NSE Emerge, listing at Rs 151, a 57.29 per cent premium over the initial public offer (IPO) price of Rs 96. The stock further climbed to Rs 158.55, registering a 65.16 per cent gain over the issue price, and is currently frozen at its 5 per cent upper circuit limit from the listing price. During the trading session, the stock witnessed a high of Rs 158.55 and a low of Rs 151, with approximately 25.90 lakh shares exchanging hands.
Sellowrap Industries had a strong start on the Indian stock market today, with its shares debuting at Rs 90 apiece on the NSE SME platform—an 8.43 per cent premium over the issue price of Rs 83. The listing performance surpassed market expectations, with a grey market premium (GMP) of 6 per cent just ahead of the debut. The company, a manufacturer of automotive components, launched its initial public offering (IPO) under the SME category.
“ You can’t cross the sea merely by standing and staring at the water. ”
