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President Message
Preparations for the Union Budget are in full swing in the Government. FISME shared its representation to the Finance Minister and had discussions with Chief Economic Advisor in detail. We highlighted that though Indian economy, after a pandemic-induced downturn, experienced a period of robust growth, this growth trajectory appeared to be slowing down due to a confluence of factors. Weakening consumer demand, sluggish private investment, a global economic slowdown, high inflation, and the RBI's interest rate hikes to combat inflation contributed to this slowdown. Furthermore, the delayed presentation of the full budget in July significantly impacted government spending, a key driver of economic growth. This delay hindered timely fund disbursement to ministries and departments, impacting public expenditure and consequently, orders to MSMEs, who are major government suppliers. Additionally, rising imports led to the imposition of safeguard and anti-dumping duties, impacting manufacturing competitiveness. FISME’s memo underscored several challenges facing MSMEs, including the detrimental impact of the Special Mention Account (SMA) framework, the continued use of burdensome BLR ratings, and limited access to need-based financing. The note also emphasized the need for reduced collateral requirements for high-performing MSMEs and improved export finance mechanisms. Furthermore, the note attracted attention of Govt. towards expanding protectionist measures like high import duties and anti-dumping duties. We argued that they increases production costs for MSMEs, stifled innovation, and reduces their global competitiveness. Finally, the note called for a review of the CSR regulations, particularly the low turnover and profit thresholds, which unnecessarily bring MSMEs in its ambit. We are hopeful that some of these issues will find favour and see light of the day in the forthcoming Budget.
Starting a business is never easy, it requires countless sacrifices, overcoming thousands of obstacles, showing patience and much more. If you are a beginner, then you have to be more cautious and focused to grow your business.
Working on the first business is very thrilling as you need a good business idea, a strong work ethic, and perseverance for days when things may not go in the right direction.
The Federation of Indian Micro and Small & Medium Enterprises (FISME) has submitted comprehensive recommendations to the finance ministry, calling for significant reforms in MSME credit access ahead of the upcoming budget.
In its representation, the organisation advocates for reduced collateral requirements for asset-heavy and high-turnover MSMEs, arguing that such measures would enable businesses to reinvest in growth while fostering financial discipline within the sector. The federation has highlighted concerns regarding the current Special Mention Account (SMA) framework, which categorises stressed MSMEs.
The Indian textile industry is witnessing a remarkable resurgence in the current financial year, with exports showing a steady increase.
From April to November 2024, textile exports rose by 3.9 per cent to USD 13,478 million, while apparel exports surged by 11.39 per cent to USD 9,853 million. Overall, exports have grown by 6.93 per cent during this period, signalling a revival in the sector. Despite Indian cotton prices being higher than international rates, the industry has maintained robust export performance.
The Indian government has announced a liberal approach to the import of laptops and tablets throughout 2025 to prevent supply shortages, according to a report by The Economic Times.
This policy includes a mid-year review to ensure that import levels align with demand and that local production targets remain on track. Should demand surpass current supply, additional import approvals will be granted. The government’s strategy includes an annual 5 per cent reduction in imports, with the aim of gradually replacing these with domestically manufactured products. From mid-2025, local production will begin for all major laptop and tablet brands.
The Indian Commerce Ministry has proposed anti-dumping duties of up to USD 707 per tonne on PVC paste resin imports from China, Korea, Malaysia, Norway, Taiwan, and Thailand.
The recommendation, which covers a five-year period, aims to protect domestic manufacturers of the material commonly used in artificial leather and technical textiles production. Following an investigation initiated by Chemplast Sanmar Ltd., the Directorate General of Trade Remedies (DGTR) determined that certain manufacturers from these six nations had exported Poly Vinyl Chloride Paste Resin to India at prices below normal market value.
The Indian government has released a comprehensive draft policy framework to establish a unified national market for agricultural produce, aiming to address long-standing challenges in agri-trade.
This move comes nearly three years after the repeal of farm laws following nationwide protests. The draft, prepared under the chairmanship of Faiz Ahmed Kidwai, Additional Secretary (Marketing) in the Ministry of Agriculture, suggests transformative reforms to harmonise agricultural marketing practices across states.
In a landmark initiative, over 1.25 lakh hectares of rubber plantations have been developed across Northeast India and West Bengal under the ambitious INROAD (Indian Natural Rubber Operations for Assisted Development) project, according to the Automotive Tyre Manufacturers' Association (ATMA).
Spearheaded by four leading tyre companies—Apollo Tyres, CEAT, JK Tyre, and MRF—the project represents a concerted effort to bolster India’s natural rubber sector.
India's Agricultural and Processed Food Products Export Development Authority (APEDA) is set to release the eighth edition of the National Programme for Organic Production (NPOP) regulations on January 9, marking a significant update to the country's primary organic regulatory framework.
The revised standards, which were last updated in 2014, have been designed to be more farmer-friendly and align with international standards for organic product trade.
Industry bodies urged the Finance Ministry to consider personal income tax reductions and fuel duty cuts during pre-Budget consultations on Monday, emphasising the need to boost disposable income amid weak consumption trends.
The discussions, attended by the Finance Minister and senior ministry officials, focused on challenges facing the economy, particularly those affecting micro, small, and medium enterprises (MSMEs). Confederation of Indian Industry (CII) President Sanjiv Puri highlighted concerns about Chinese product dumping and climate-related challenges impacting food security and inflation.
T-Hub, Telangana’s innovation and business incubation center, is driving transformational growth by signing key partnerships and Memoranda of Understanding (MoUs) to bolster innovation across defence, mobility, BFSI/fintech, and healthcare sectors.
The initiative aims to elevate India’s innovation ecosystem by focusing on emerging technologies such as AI, ML, Web3 blockchain, sustainability, and semiconductors. In an exclusive interview with The New Indian Express, T-Hub’s Interim CEO Sujit Jagirdar emphasised that defence would be the center’s primary focus area, followed by mobility, BFSI/fintech, and healthcare.
In a move to support Tamil Nadu's electric vehicle manufacturing capabilities, the Scientific and Industrial Testing And Research Centre (Si'Tarc) in Coimbatore is set to establish a specialised testing and training facility dedicated to supporting Micro, Small and Medium-scale Enterprises in the EV sector.
The initiative marks a strategic step toward enhancing the region's role in India's growing electric vehicle industry. The project gained momentum when State Minister for Electricity, Prohibition and Excise V. Senthil Balaji laid the foundation stone for the new facility.
Orissa government has announced plans to implement a comprehensive digital registration system for farmers beginning January 1, introducing a new Aadhaar-linked identification system called the Krushak Parichaya Patra (Farmer ID).
This digital initiative aims to streamline agricultural services and create a unified database of farmer information. The new digital identity system will dynamically connect to various agricultural data points, including state land records, livestock ownership, crop information, and benefits received through government schemes.
Just one month after the introduction of its new industrial policy, mineral-rich Chhattisgarh has successfully attracted investment proposals worth Rs 15,184 crore.
Ritu Sain, Chhattisgarh’s Investment Commissioner, emphasised the state’s goal to broaden its industrial base. "The state wants to diversify and tap into the potential of different sectors. We have identified six new priority sectors in the new industrial policy and are exploring the potential of sectors like tourism and food processing," she told ET.
India’s merchandise exports to Australia saw a significant 64.4 per cent year-on-year increase in November 2024, reaching USD 643.7 million, driven by strong performance in textiles, chemicals, and agricultural products, according to data released by the Ministry of Commerce & Industry on Sunday.
This remarkable growth comes as the India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) completes its second anniversary, demonstrating the mutually beneficial ties between the two nations.
India and Kuwait have elevated their bilateral relationship to a strategic partnership during Prime Minister Narendra Modi's visit to Kuwait, marking the first such visit by an Indian premier in 43 years.
During the two-day visit, Kuwait bestowed its highest civilian honor, 'The Order of Mubarak Al-Kabeer,' upon Modi in recognition of his contributions to strengthening bilateral relations. The visit, which saw Modi accompanied by External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval, resulted in significant diplomatic achievements, including the signing of four memoranda of understanding.
What should be the top priority in the budget to empower MSMEs?
According to the FISME factor, 100% of MSMEs believe that the top priority in the budget to empower MSMEs should be increasing public funding for state MSME programs.
Lessons from 2024: Transforming workplaces for a new era
If one word could define 2024 for businesses, it would be ‘adaptation’. Across industries, organisations faced economic uncertainty, relentless talent shortages, and an accelerated pace of technological disruption. Add to this the evolving expectations of a younger, diverse workforce, and the result was a year that tested resilience, agility, and innovation. Yet, many companies rose to the occasion, crafting new paradigms for the future of work.
Outlook For 2025: For The Startup and VC Ecoystem and Impact Of AI
The domestic startup ecosystem is expected to rebound with fresh approaches in key sectors like content, media, fintech, and marketplaces. The venture capital ecosystem saw important developments in India and globally, ultimately impacting India as well. Three major events need to be highlighted:
1. We are ending the COVID bull and bear run: The COVID bull run of investing started in 2021 and peaked in 2022.
5 Tips For Building An Effective 2025 Marketing Plan
As the saying goes, “Proper preparation prevents poor performance.” At my agency, we teach our team members to overprepare for their individual contributions, but the adage rings true at a leadership level as well. Planning your 2025 marketing strategy is crucial for success. The digital world is constantly changing as trends, technology and consumer behavior quickly shift, and brands that neglect planning often overspend and still fall short of their goals.
ICEA Pushes For Simplified Four-Tier Electronics Duty Structure Ahead Of Union Budget
Ahead of the Union Budget, the India Cellular and Electronics Association (ICEA) has urged the Finance Ministry to streamline the nation's electronics duty structure, describing the current framework as the ‘most complex globally.’
The industry body is advocating for a simplified four-tier structure to replace the existing multiple-slab system.
Planet Electric wants to reduce logistics costs with lightweight cargo carriers
Last-mile delivery trucks are essential to the logistics supply chain for delivering ecommerce orders and other parcels. And just like any other vehicle, their weight directly impacts their fuel efficiency, in turn, adding to the delivery charges consumers pay. A significant part of the weight comes from the load carrier attached to these vehicles, often made from stainless steel or aluminium.
Unimech Aerospace Shares Soar Nearly 90 pc On Market Debut
Unimech Aerospace and Manufacturing made an impressive stock market debut on Tuesday, with shares opening at Rs 1,491 on the Bombay Stock Exchange (BSE), marking a substantial 89.9 percent premium over its initial public offering (IPO) price of Rs 785.
The company's shares simultaneously listed on the National Stock Exchange (NSE) at Rs 1,460, representing an 86 percent premium.
The Ministry of Statistics and Programme Implementation (MoSPI) has released the results of Annual Survey of Unincorporated Sector Enterprises (ASUSE) for 2023-24 for the reference period October, 2023 – September, 2024 referred to as ASUSE 2023-24
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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Preparations for the Union Budget are in full swing in the Government. FISME shared its representation to the Finance Minister and had discussions with Chief Economic Advisor in detail. We highlighted that though Indian economy, after a pandemic-induced downturn, experienced a period of robust growth, this growth trajectory appeared to be slowing down due to a confluence of factors. Weakening consumer demand, sluggish private investment, a global economic slowdown, high inflation, and the RBI's interest rate hikes to combat inflation contributed to this slowdown. Furthermore, the delayed presentation of the full budget in July significantly impacted government spending, a key driver of economic growth. This delay hindered timely fund disbursement to ministries and departments, impacting public expenditure and consequently, orders to MSMEs, who are major government suppliers. Additionally, rising imports led to the imposition of safeguard and anti-dumping duties, impacting manufacturing competitiveness. FISME’s memo underscored several challenges facing MSMEs, including the detrimental impact of the Special Mention Account (SMA) framework, the continued use of burdensome BLR ratings, and limited access to need-based financing. The note also emphasized the need for reduced collateral requirements for high-performing MSMEs and improved export finance mechanisms. Furthermore, the note attracted attention of Govt. towards expanding protectionist measures like high import duties and anti-dumping duties. We argued that they increases production costs for MSMEs, stifled innovation, and reduces their global competitiveness. Finally, the note called for a review of the CSR regulations, particularly the low turnover and profit thresholds, which unnecessarily bring MSMEs in its ambit. We are hopeful that some of these issues will find favour and see light of the day in the forthcoming Budget.
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Starting a business is never easy, it requires countless sacrifices, overcoming thousands of obstacles, showing patience and much more. If you are a beginner, then you have to be more cautious and focused to grow your business.
Working on the first business is very thrilling as you need a good business idea, a strong work ethic, and perseverance for days when things may not go in the right direction.
The Indian textile industry is witnessing a remarkable resurgence in the current financial year, with exports showing a steady increase.
From April to November 2024, textile exports rose by 3.9 per cent to USD 13,478 million, while apparel exports surged by 11.39 per cent to USD 9,853 million. Overall, exports have grown by 6.93 per cent during this period, signalling a revival in the sector. Despite Indian cotton prices being higher than international rates, the industry has maintained robust export performance.
The Indian government has announced a liberal approach to the import of laptops and tablets throughout 2025 to prevent supply shortages, according to a report by The Economic Times.
This policy includes a mid-year review to ensure that import levels align with demand and that local production targets remain on track. Should demand surpass current supply, additional import approvals will be granted. The government’s strategy includes an annual 5 per cent reduction in imports, with the aim of gradually replacing these with domestically manufactured products. From mid-2025, local production will begin for all major laptop and tablet brands.
The Indian Commerce Ministry has proposed anti-dumping duties of up to USD 707 per tonne on PVC paste resin imports from China, Korea, Malaysia, Norway, Taiwan, and Thailand.
The recommendation, which covers a five-year period, aims to protect domestic manufacturers of the material commonly used in artificial leather and technical textiles production. Following an investigation initiated by Chemplast Sanmar Ltd., the Directorate General of Trade Remedies (DGTR) determined that certain manufacturers from these six nations had exported Poly Vinyl Chloride Paste Resin to India at prices below normal market value.
The Indian government has released a comprehensive draft policy framework to establish a unified national market for agricultural produce, aiming to address long-standing challenges in agri-trade.
This move comes nearly three years after the repeal of farm laws following nationwide protests. The draft, prepared under the chairmanship of Faiz Ahmed Kidwai, Additional Secretary (Marketing) in the Ministry of Agriculture, suggests transformative reforms to harmonise agricultural marketing practices across states.
In a landmark initiative, over 1.25 lakh hectares of rubber plantations have been developed across Northeast India and West Bengal under the ambitious INROAD (Indian Natural Rubber Operations for Assisted Development) project, according to the Automotive Tyre Manufacturers' Association (ATMA).
Spearheaded by four leading tyre companies—Apollo Tyres, CEAT, JK Tyre, and MRF—the project represents a concerted effort to bolster India’s natural rubber sector.
India's Agricultural and Processed Food Products Export Development Authority (APEDA) is set to release the eighth edition of the National Programme for Organic Production (NPOP) regulations on January 9, marking a significant update to the country's primary organic regulatory framework.
The revised standards, which were last updated in 2014, have been designed to be more farmer-friendly and align with international standards for organic product trade.
Industry bodies urged the Finance Ministry to consider personal income tax reductions and fuel duty cuts during pre-Budget consultations on Monday, emphasising the need to boost disposable income amid weak consumption trends.
The discussions, attended by the Finance Minister and senior ministry officials, focused on challenges facing the economy, particularly those affecting micro, small, and medium enterprises (MSMEs). Confederation of Indian Industry (CII) President Sanjiv Puri highlighted concerns about Chinese product dumping and climate-related challenges impacting food security and inflation.
T-Hub, Telangana’s innovation and business incubation center, is driving transformational growth by signing key partnerships and Memoranda of Understanding (MoUs) to bolster innovation across defence, mobility, BFSI/fintech, and healthcare sectors.
The initiative aims to elevate India’s innovation ecosystem by focusing on emerging technologies such as AI, ML, Web3 blockchain, sustainability, and semiconductors. In an exclusive interview with The New Indian Express, T-Hub’s Interim CEO Sujit Jagirdar emphasised that defence would be the center’s primary focus area, followed by mobility, BFSI/fintech, and healthcare.
In a move to support Tamil Nadu's electric vehicle manufacturing capabilities, the Scientific and Industrial Testing And Research Centre (Si'Tarc) in Coimbatore is set to establish a specialised testing and training facility dedicated to supporting Micro, Small and Medium-scale Enterprises in the EV sector.
The initiative marks a strategic step toward enhancing the region's role in India's growing electric vehicle industry. The project gained momentum when State Minister for Electricity, Prohibition and Excise V. Senthil Balaji laid the foundation stone for the new facility.
Orissa government has announced plans to implement a comprehensive digital registration system for farmers beginning January 1, introducing a new Aadhaar-linked identification system called the Krushak Parichaya Patra (Farmer ID).
This digital initiative aims to streamline agricultural services and create a unified database of farmer information. The new digital identity system will dynamically connect to various agricultural data points, including state land records, livestock ownership, crop information, and benefits received through government schemes.
Just one month after the introduction of its new industrial policy, mineral-rich Chhattisgarh has successfully attracted investment proposals worth Rs 15,184 crore.
Ritu Sain, Chhattisgarh’s Investment Commissioner, emphasised the state’s goal to broaden its industrial base. "The state wants to diversify and tap into the potential of different sectors. We have identified six new priority sectors in the new industrial policy and are exploring the potential of sectors like tourism and food processing," she told ET.
India’s merchandise exports to Australia saw a significant 64.4 per cent year-on-year increase in November 2024, reaching USD 643.7 million, driven by strong performance in textiles, chemicals, and agricultural products, according to data released by the Ministry of Commerce & Industry on Sunday.
This remarkable growth comes as the India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) completes its second anniversary, demonstrating the mutually beneficial ties between the two nations.
India and Kuwait have elevated their bilateral relationship to a strategic partnership during Prime Minister Narendra Modi's visit to Kuwait, marking the first such visit by an Indian premier in 43 years.
During the two-day visit, Kuwait bestowed its highest civilian honor, 'The Order of Mubarak Al-Kabeer,' upon Modi in recognition of his contributions to strengthening bilateral relations. The visit, which saw Modi accompanied by External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval, resulted in significant diplomatic achievements, including the signing of four memoranda of understanding.
According to the FISME factor, 100% of MSMEs believe that the top priority in the budget to empower MSMEs should be increasing public funding for state MSME programs.
If one word could define 2024 for businesses, it would be ‘adaptation’. Across industries, organisations faced economic uncertainty, relentless talent shortages, and an accelerated pace of technological disruption. Add to this the evolving expectations of a younger, diverse workforce, and the result was a year that tested resilience, agility, and innovation. Yet, many companies rose to the occasion, crafting new paradigms for the future of work.
The domestic startup ecosystem is expected to rebound with fresh approaches in key sectors like content, media, fintech, and marketplaces. The venture capital ecosystem saw important developments in India and globally, ultimately impacting India as well. Three major events need to be highlighted:
1. We are ending the COVID bull and bear run: The COVID bull run of investing started in 2021 and peaked in 2022.
As the saying goes, “Proper preparation prevents poor performance.” At my agency, we teach our team members to overprepare for their individual contributions, but the adage rings true at a leadership level as well. Planning your 2025 marketing strategy is crucial for success. The digital world is constantly changing as trends, technology and consumer behavior quickly shift, and brands that neglect planning often overspend and still fall short of their goals.
Ahead of the Union Budget, the India Cellular and Electronics Association (ICEA) has urged the Finance Ministry to streamline the nation's electronics duty structure, describing the current framework as the ‘most complex globally.’
The industry body is advocating for a simplified four-tier structure to replace the existing multiple-slab system.
Last-mile delivery trucks are essential to the logistics supply chain for delivering ecommerce orders and other parcels. And just like any other vehicle, their weight directly impacts their fuel efficiency, in turn, adding to the delivery charges consumers pay. A significant part of the weight comes from the load carrier attached to these vehicles, often made from stainless steel or aluminium.
“ No man ever steps in the same river twice, for it’s not the same river and he’s not the same man. ”
