" While we are witnessing the political drama unfold in a run up to elections in Chhattisgarh, Delhi, Madhya Pradesh and Rajasthan, the global community is engaged in another battle at WTO Ministerial in Bali. India is on the verge of blocking a trade deal because of lack of consensus on the issue of food subsidy: India has sought impunity from sanctions against breach of 10% subsidy threshold. Perhaps for right reasons. However, for SMEs a multilateral WTO agreement is a better option than dealing with plethora of agreements under bilateral and regional Free Trade Agreements which have proliferated because of failure of WTO to strike a deal since 1995. May the better sense prevail. "
Hong Kong Trade Development Council (HKTDC) organized a trade delegation to India which met FISME on 19th Nov 2013 in New Delhi.
The delegation was led by the Regional Manager, South East Asia and India, Mr. Sunny Chau. The leader of the delegation invited Indian companies to Hong Kong and explained that with world class financial and legal framework and global scale logistics handling facilities, Hong Kong could be seen by Indian SMEs a unique entry point for the Chinese market. HKTDC has offered full support to FISME members interested in exploring opportunities in Hong Kong.
Wuhan - the mega central city, the capital of Hubei province of People's Republic of China and equally populous as New Delhi, offers immense business opportunities for Indian SMEs in areas such as auto components, general manufacturing, IT and Bio-technology.
The seven member delegation comprising of senior officials from Wuhan visited Federation of Indian Micro and Small & Medium Enterprises (FISME) in New Delhi today. The visit was coordinated by the China Council for the Promotion of International Trade (CCPIT), Wuhan.
Romanian SMEs are keen to enter the Indian market and are looking for various alternatives including joint ventures with Indian SMEs, 100% FDI etc. These issues emerged during a visit by a 10 member delegation from National Council of Private SMEs in Romania (CNIPMMR – Romania) to the Headquarters of FISME on 19th November 2013. The delegation was headed by the chief of CNIPPMR and included entrepreneurs, officers of Government of Romania\ and representatives from the Romanian embassy in India.
Handholding Indian MSMEs to enter the global marketplace is a core agenda of FISME and towards this end a delegation of 12 Indian MSMEs were led by FISME to Thailand from 19th to 22nd November, 2013. The delegation comprised of participants from all over India (Bangalore, Bhopal, Delhi, Hyderabad and Kolkata)
Highlight of the trip was a FISME arranged visit of the delegation to a state of the art manufacturing facility of Toyota at Ban Pho, near Bangkok which among other makes the well known ‘Toyota Fortuner’ SUV.
During the visit the delegation was exposed to the “the Toyota way of Continuous Improvement and Mutual Respect’ the cornerstones of global competitiveness of Toyota Company.
The delegation also visited the ‘METALEX 2013’ expo, the ASEAN's largest show of Machine Tools and Metalworking Technologies. The Exhibition showcased 4000 innovations, 2700 brands of 50 countries and the delegation had a lot of ‘take outs’ as exhibited by the pile of literatures and documents carried back by each member.
- Dan Gilbert, founder of Quicken Loans and a principal of Detroit Venture Partners
"There's no set path to success, there are many ways to get there." says Dan Gilbert, founder of Quicken Loans and a principal of Detroit Venture Partners, an organization that funds start-ups and is leading revitalization efforts in Detroit. Gilbert says he's most proud of creating an environment that lets his employees sell and listen to customers. Both he and Quicken Loans' CEO answer complaint calls. When asked what drives him, Gilbert says, "I like to build. Most entrepreneurs at their core like to build."
[Adapted from 4 Lessons in Success From Millionaire Entrepreneurs]
Is India maturing as a federation or not? Going by the little fracas that developed last week between Nagaland and New Delhi, it would appear not. Nagaland wants to develop its own energy sources; the Centre is saying no. Nagaland says it has the right under Article 371A; New Delhi disagrees. Clearly, Centre-state relations are stuck in a time warp. This is alarming for at least three reasons.
[Adapted from Business Standard, Editorial Comment]
In the past few weeks, there have been some noteworthy developments. The Finance Minister and the Chairman of the Council of Economic Advisers to the Prime Minister have both independently, and vigorously, protested that IMF’s downgrade of India’s growth forecast is inaccurate. India will grow much faster than the IMF predicts, they argue. In fact, the IMF has been generous with India’s growth forecast of 3.75 per cent. World Bank data, computed on a purchasing power parity basis, shows that actual growth for the year ending 2012 was 3.2 per cent.
Consignment for export could be cleared in hours, the Finance Ministry has claimed. At present, it takes up to 4 days.
To facilitate exports, the Finance Minister, P. Chidambaram, launched the All India Risk Management System for export on Wednesday. Earlier, this system was introduced in December 2005 for imports.
“I sincerely hope that with the introduction of RMS in exports, the dwell time which now ranges from 1.6 days to 3.68 days will be brought down to a few hours,” Chidambaram told reporters after launching the new system.
The primary objective of this system is to strike an optimal balance between facilitation and enforcement and to promote a culture of compliance.
A surge in wholesale inflation, coupled with a sustained rise in retail inflation, has raised the possibility of another interest rate hike by the Reserve Bank of India. The core inflation (reflecting mainly prices of manufacturing goods) also rose to 2.6 per cent in October from 2.1 per cent in September.
On Thursday, the Wholesale Price Index (WPI) for October rose to 7 per cent from 6.46 per cent in September. Though this is an eight-month-high, it is lower than in October last year, when it was 7.32 per cent. On Tuesday, the retail inflation, represented by the Consumer Price Index (CPI), had risen to 10.09 per cent in October from 9.84 per cent in September.
Finance Minister, P. Chidambaram, today said economic growth will revive in the second half of the current financial year.
He said the measures taken by the Government will yield results and help India achieve potential growth rate of 8 per cent.
Stating that the Government will not exceed the red line on fiscal deficit in 2013-14, he added that current account deficit will be contained at under $56 billion in 2013-14.
On new bank licences, he said they will be given in January.
The MSME Development Institute has organised specialised management development programmes on export, marketing, stress management and personality development to benefit weaker sections of the society.
All the courses will be held here in December.
The course on Export Management to be held from December-9 to 13 here will cover export documentation, steps and procedures, finance, terms for payment, communication, pricing, customs clearance and port formalities and ECGC policies.
In an effort to modernise food processing units in the country, the government is planning to upgrade the National Institute of Food Technology Entrepreneurship and Management (NIFTEM) in Sonepat, Haryana.
In this regard, the institute has invited bids from various enterprises to supply equipment for different departments.
NIFTEM has a mission to produce world-class business leaders, develop globally competitive processes and technologies and international best practice in the area of food technology, entrepreneurship and management.
Corporation Bank has set up retail and SME loan centres to speed up loan processing time.
The bank’s General Manager V.S. Karthikeyan told Business Line that the bank has set up 28 retail loan centres and 16 SME loan centres till date. Going forward, it plans to have another 9 SME loan centre and a couple of retail loan centres before the end of the current fiscal.
“We have a retail loan centre in Coimbatore. The SME loan centre is being launched here on December 5,” he said.
The bank would focus on retail lending and the SME segment, as the industry is witnessing a shift to SME. This segment has registered a 35-40 per cent growth year-on-year, he added.
The Textile Industry in India occupies a unique place in the country. With an age-old heritage, the industry has been redefined as a fast emerging market with half a billion middle income population in its basket by 2030.
One of the earliest to come into existence in India, it accounts for 14 per cent of the total industrial production, contributes to nearly 30 per cent of the total exports and is the second largest employment generator after agriculture with the current work population of more than 35 million people.
To ease the liquidity pressure faced by micro and small enterprises (MSEs), the Reserve Bank of India (RBI) has decided to refinance an amount of Rs 5,000 crore to the Small Industries Development Bank of India (SIDBI) which will in turn use the funds for direct as well as onward lending to banks.
“In view of the need to ease the liquidity stress to Micro and Small Enterprises (MSE) sector which is employment intensive and contributes significantly to exports, it has been decided to provide refinance of an amount of Rs 5,000 crore to the Small Industrial Development Bank of India (SIDBI) under the provisions of Section 17(4H) of the Reserve Bank of India Act, 1934,” RBI said in a notification.
Most small and medium enterprises (SMEs) in the country are not making use of intellectual property rights, according to Arvind Chopra – Head – IPR, European Business and Technology Centre (EBTC).
Speaking at the inaugural session of a seminar on the European patent system jointly organised by the Confederation of Indian Industry and the Andhra Pradesh Technology Development & Promotion Centre (APTDC) here on Monday, he said insufficient knowledge of intellectual property was a key barrier for SMEs.
The absence of a complete database on Indian patents was slowing down patent-filing by local inventors making it difficult to create a patent strategy, he said, adding that the non-availability of prior art was slowing down innovation.
In an effort to enhance competitiveness of the bamboo industry, the state government will refurbish the Bamboo Technology Park (BTP) in Assam. The park features a top class common facility centre with state of art machineries for primary processing of bamboo and to supply the products as raw materials to the end-used industries within the park.
It also has a pilot plant for training and demonstration to the prospective entrepreneurs.
Its main objective is to provide specialised physical and intellectual facilities to industrial firms and to encourage them in setting up bamboo processing units and to introduce appropriate technologies and complementary skill building in rural areas, creating the possibility for producers and artisans to improve their skills and become more specialised in their field.
The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has proposed the setting up of a mega leather cluster in the industrial model township (IMT) at Rojka Meo in Mewat, Haryana to expand the leather industry.
“Land area of 105.64 acres has been earmarked for the cluster. The project is proposed to be developed under the sub-scheme ‘mega leather cluster’ of Indian Leather Development Programme (ILDP) of the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, Government of India,” said an official notice.
The Maharashtra State Agricultural Marketing Board (MSAMB) which is keen to supply food products to all regions of the state, including the Maharashtra Metropolitan Region (MMR) has extended the last date for submission of bids by service providers.
In an endeavour to supply consumers in MMR with commodities such as fruits, vegetables and other MSAMB branded consumable items; the board had initially called for bids from suppliers from different cooperatives of consumer goods to be service providers on October-24.
In order to upgrade skills through significant industry involvement for better employability, Education Department of Chandigarh is keen to outsource skill training.
The Education Department of the Chandigarh Administration is planning to enter into an agreement with an organization to impart training for 60 days after 10+2 exam for 360 hours for skill development and placement of students.
The main objective of the initiative is to rope in private industry for support and coordination initiatives for skill development and hand holding for employment of vocational students.
Education Department will provide room for theory and practical classes; and semi equipped labs for the training of students of vocational courses in which skill development training will be provided.
Small scale industries are facing a production loss of Rs two crore daily, a district representative of the Traders Association has said.
"We are facing six hour undeclared power cut a day, and due to this SSIs are facing Rs 2 crore production loss daily," N Sivanesan, Chairman of the All Traders Associations in Erode district, told reporters.
Afghanistan will soon open up multi-entry visas to Indian entrepreneurs who are willing to invest there, Afghan ambassador to India has said.
Ambassador Shaida Mohammad Abdali yesterday said that the process of issuing multiple-entry visa to the Indian business community intending to invest in Afghanistan is likely to be completed shortly to help the country tap the myriad opportunities.
The Afghan envoy was addressing a conference on Doing Business with Afghanistan organised by FICCI and the external affairs ministry.
The doors are slowly opening for Indian healthcare providers for seeking employment in Germany, Jurgen Mannicke, a Germany Consultant International Vocational Training has said.
With Germany having an ageing population and not enough young trained manpower, it has started thinking about opening its borders to countries (including India) even beyond the European Union .
Manpower shortage
“We face a huge shortage of skilled people in the medical care sector,” Jurgen said.
Last year, a beginning was made when, under a pilot project in China and some South East Asian countries, a group of young nurses was trained. They are now undergoing language training so that then they can find jobs in German hospitals, he said.
Romania, located at the intersection of Central and South-eastern Europe has good market potential for Indian SMEs to explore in sectors like textile, chemicals, information technology, and handicrafts, chief of National Council for SMEs in Romania said here today.
A trade delegation from National Council for SMEs of Romania- FISME’s counterpart in Romania was present in the national capital for a B2B meeting with the Indian SMEs to improve bilateral trade.
President of National Council for SMEs in Romania, Ovidiu Nicolescu who headed the delegation told KNN, “India has a very good chance to explore the sectors like textile, IT, chemical, medicines, and handicraft in Romania.
In order to improve trade relations between India and Pakistan, the Pakistan Chambers of Commerce and Industry (FPCCI) has suggested that positive change of attitude and some polices like easy visa regimes, lower duty, etc can benefit both sides. The bilateral trade between India and Pakistan is currently at a modest USD 2.6 billion annually. But, the chambers from both sides are hopeful to raise it to USD 7-8 billion by next year.
Speaking on the strict visa regimes between the two countries, President of FPCCI, Zubair Ahmed Malik told KNN, “Visa is a very major problem. Two of the delegations from India are expecting clearance from the Pakistan side. Likewise, 2-3 of the Pakistani delegations are expecting clearance from the Indian side.”
Switzerland's economy grew a touch more than expected in the third quarter on the back of a pick-up in exports of goods and government spending.
Gross domestic product expanded 0.5 per cent compared to the previous quarter, and grew by 1.9 per cent year-on-year, the State Secretariat for Economic Affairs ( SECO) said on Thursday.
Analysts polled by Reuters had forecast quarterly growth of 0.4 per cent on average, while the year-on-year figure also beat forecasts of 1.7 percent.
SMEs wary of improvement in trade deficit in the coming months
According to the FISME Factor, 67 per cent of the Micro, Small and Medium Enterprises (MSMEs), think that the trade deficit will not improve in the coming months
One of the big questions confronting many entrepreneurs is: is it better to be a solo founder or are ventures with co-founders more successful? Well, it depends from what perspective you're asking that question.
Till recently, the law determined what your venture looked like on paper. The Companies Act did not recognise solo-founders and, thus, promoters would typically sign up their wife, brother or dad as the second promoter, to meet legal requirements.
SEBI's latest move may give a fillip to SME fundings
Here's good news from the legal world for promoters and private equity investors. Last month, the Securities and Exchange Board of India (SEBI) notified that company contracts can now include clauses including a Call and Put option, and pre-emption rights.
First, let's simplify these terms. An option is a right and not an obligation. A 'call option' is simply an option that allows existing shareholders to purchase shares at a fixed price within a specified time period. A 'put option' is an option to sell shares at a specified price before a specified period.
Sheena Agarwal believes your image is your calling card and there's no brand more important than Brand You. That's something many companies as well as individuals in India are quickly realising. As the cut-and-thrust of corporate work and war intensifies and the workplace gets increasingly globalised, the way corporate companies, their employees and entrepreneurs present themselves could make a world of difference.
Startup ventures grapple with pressures of hiring talent, finding clients and raising money
Across the country, startup ventures are shutting down within a year of launch as the pressures of hiring talent, finding clients and raising money take their toll on the business. "On paper, the business proposition and scalability all look great, but as we get down to executing it there are unanticipated difficulties," said Rohit Sharma, who closed his online toy portal WopShop within six months of starting up last year.
Five entrepreneurs offering innovative solutions in rural India
Villages in India have spending power, but they also has some unique problems. What this combination has done is to stoke entrepreneurship among professionals aiming to offer solutions and tap into the rural opportunity...
When his father was suffering from stress and heart diseases, Sujay Santra, an employee at Oracle in Bangalore, admitted him to a hospital in that city. A cardiac surgeon prescribed various medicines and asked him to return for a check-up after six months. Santra's father returned to his house in Kharagpur.
The Quick Estimates of Index of Industrial Production, the lead indicator of industrial production trends in the registered factory sector, for the month of August 2013, were released by the Govt. of India. The General Index is 0.6% higher as compared to the level in the month of August 2012.
Buy our one-of-a-kind guide to all industrial testing laboratories in India. Find the one most convenient for getting your products tested and certified. An invaluable compendium for all industrial units and exporters.
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Price: Rs 900.
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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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" While we are witnessing the political drama unfold in a run up to elections in Chhattisgarh, Delhi, Madhya Pradesh and Rajasthan, the global community is engaged in another battle at WTO Ministerial in Bali. India is on the verge of blocking a trade deal because of lack of consensus on the issue of food subsidy: India has sought impunity from sanctions against breach of 10% subsidy threshold. Perhaps for right reasons. However, for SMEs a multilateral WTO agreement is a better option than dealing with plethora of agreements under bilateral and regional Free Trade Agreements which have proliferated because of failure of WTO to strike a deal since 1995. May the better sense prevail. "
Hong Kong Trade Development Council (HKTDC) organized a trade delegation to India which met FISME on 19th Nov 2013 in New Delhi.
The delegation was led by the Regional Manager, South East Asia and India, Mr. Sunny Chau. The leader of the delegation invited Indian companies to Hong Kong and explained that with world class financial and legal framework and global scale logistics handling facilities, Hong Kong could be seen by Indian SMEs a unique entry point for the Chinese market. HKTDC has offered full support to FISME members interested in exploring opportunities in Hong Kong. 
Wuhan - the mega central city, the capital of Hubei province of People's Republic of China and equally populous as New Delhi, offers immense business opportunities for Indian SMEs in areas such as auto components, general manufacturing, IT and Bio-technology.
The seven member delegation comprising of senior officials from Wuhan visited Federation of Indian Micro and Small & Medium Enterprises (FISME) in New Delhi today. The visit was coordinated by the China Council for the Promotion of International Trade (CCPIT), Wuhan.
Romanian SMEs are keen to enter the Indian market and are looking for various alternatives including joint ventures with Indian SMEs, 100% FDI etc. These issues emerged during a visit by a 10 member delegation from National Council of Private SMEs in Romania (CNIPMMR – Romania) to the Headquarters of FISME on 19th November 2013. The delegation was headed by the chief of CNIPPMR and included entrepreneurs, officers of Government of Romania\ and representatives from the Romanian embassy in India.
Handholding Indian MSMEs to enter the global marketplace is a core agenda of FISME and towards this end a delegation of 12 Indian MSMEs were led by FISME to Thailand from 19th to 22nd November, 2013. The delegation comprised of participants from all over India (Bangalore, Bhopal, Delhi, Hyderabad and Kolkata)
Highlight of the trip was a FISME arranged visit of the delegation to a state of the art manufacturing facility of Toyota at Ban Pho, near Bangkok which among other makes the well known ‘Toyota Fortuner’ SUV.
During the visit the delegation was exposed to the “the Toyota way of Continuous Improvement and Mutual Respect’ the cornerstones of global competitiveness of Toyota Company.
The delegation also visited the ‘METALEX 2013’ expo, the ASEAN's largest show of Machine Tools and Metalworking Technologies. The Exhibition showcased 4000 innovations, 2700 brands of 50 countries and the delegation had a lot of ‘take outs’ as exhibited by the pile of literatures and documents carried back by each member.
"There's no set path to success, there are many ways to get there." says Dan Gilbert, founder of Quicken Loans and a principal of Detroit Venture Partners, an organization that funds start-ups and is leading revitalization efforts in Detroit. Gilbert says he's most proud of creating an environment that lets his employees sell and listen to customers. Both he and Quicken Loans' CEO answer complaint calls. When asked what drives him, Gilbert says, "I like to build. Most entrepreneurs at their core like to build."
In the past few weeks, there have been some noteworthy developments. The Finance Minister and the Chairman of the Council of Economic Advisers to the Prime Minister have both independently, and vigorously, protested that IMF’s downgrade of India’s growth forecast is inaccurate. India will grow much faster than the IMF predicts, they argue. In fact, the IMF has been generous with India’s growth forecast of 3.75 per cent. World Bank data, computed on a purchasing power parity basis, shows that actual growth for the year ending 2012 was 3.2 per cent.
A surge in wholesale inflation, coupled with a sustained rise in retail inflation, has raised the possibility of another interest rate hike by the Reserve Bank of India. The core inflation (reflecting mainly prices of manufacturing goods) also rose to 2.6 per cent in October from 2.1 per cent in September.
On Thursday, the Wholesale Price Index (WPI) for October rose to 7 per cent from 6.46 per cent in September. Though this is an eight-month-high, it is lower than in October last year, when it was 7.32 per cent. On Tuesday, the retail inflation, represented by the Consumer Price Index (CPI), had risen to 10.09 per cent in October from 9.84 per cent in September.
Finance Minister, P. Chidambaram, today said economic growth will revive in the second half of the current financial year.
He said the measures taken by the Government will yield results and help India achieve potential growth rate of 8 per cent.
Stating that the Government will not exceed the red line on fiscal deficit in 2013-14, he added that current account deficit will be contained at under $56 billion in 2013-14.
On new bank licences, he said they will be given in January.
The MSME Development Institute has organised specialised management development programmes on export, marketing, stress management and personality development to benefit weaker sections of the society.
All the courses will be held here in December.
The course on Export Management to be held from December-9 to 13 here will cover export documentation, steps and procedures, finance, terms for payment, communication, pricing, customs clearance and port formalities and ECGC policies.
In an effort to modernise food processing units in the country, the government is planning to upgrade the National Institute of Food Technology Entrepreneurship and Management (NIFTEM) in Sonepat, Haryana.
In this regard, the institute has invited bids from various enterprises to supply equipment for different departments.
NIFTEM has a mission to produce world-class business leaders, develop globally competitive processes and technologies and international best practice in the area of food technology, entrepreneurship and management.
To ease the liquidity pressure faced by micro and small enterprises (MSEs), the Reserve Bank of India (RBI) has decided to refinance an amount of Rs 5,000 crore to the Small Industries Development Bank of India (SIDBI) which will in turn use the funds for direct as well as onward lending to banks.
“In view of the need to ease the liquidity stress to Micro and Small Enterprises (MSE) sector which is employment intensive and contributes significantly to exports, it has been decided to provide refinance of an amount of Rs 5,000 crore to the Small Industrial Development Bank of India (SIDBI) under the provisions of Section 17(4H) of the Reserve Bank of India Act, 1934,” RBI said in a notification.
In an effort to enhance competitiveness of the bamboo industry, the state government will refurbish the Bamboo Technology Park (BTP) in Assam. The park features a top class common facility centre with state of art machineries for primary processing of bamboo and to supply the products as raw materials to the end-used industries within the park.
It also has a pilot plant for training and demonstration to the prospective entrepreneurs.
Its main objective is to provide specialised physical and intellectual facilities to industrial firms and to encourage them in setting up bamboo processing units and to introduce appropriate technologies and complementary skill building in rural areas, creating the possibility for producers and artisans to improve their skills and become more specialised in their field.
The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has proposed the setting up of a mega leather cluster in the industrial model township (IMT) at Rojka Meo in Mewat, Haryana to expand the leather industry.
“Land area of 105.64 acres has been earmarked for the cluster. The project is proposed to be developed under the sub-scheme ‘mega leather cluster’ of Indian Leather Development Programme (ILDP) of the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, Government of India,” said an official notice.
The Maharashtra State Agricultural Marketing Board (MSAMB) which is keen to supply food products to all regions of the state, including the Maharashtra Metropolitan Region (MMR) has extended the last date for submission of bids by service providers.
In an endeavour to supply consumers in MMR with commodities such as fruits, vegetables and other MSAMB branded consumable items; the board had initially called for bids from suppliers from different cooperatives of consumer goods to be service providers on October-24.
In order to upgrade skills through significant industry involvement for better employability, Education Department of Chandigarh is keen to outsource skill training.
The Education Department of the Chandigarh Administration is planning to enter into an agreement with an organization to impart training for 60 days after 10+2 exam for 360 hours for skill development and placement of students.
The main objective of the initiative is to rope in private industry for support and coordination initiatives for skill development and hand holding for employment of vocational students.
Education Department will provide room for theory and practical classes; and semi equipped labs for the training of students of vocational courses in which skill development training will be provided.
Small scale industries are facing a production loss of Rs two crore daily, a district representative of the Traders Association has said.
"We are facing six hour undeclared power cut a day, and due to this SSIs are facing Rs 2 crore production loss daily," N Sivanesan, Chairman of the All Traders Associations in Erode district, told reporters.
Afghanistan will soon open up multi-entry visas to Indian entrepreneurs who are willing to invest there, Afghan ambassador to India has said.
Ambassador Shaida Mohammad Abdali yesterday said that the process of issuing multiple-entry visa to the Indian business community intending to invest in Afghanistan is likely to be completed shortly to help the country tap the myriad opportunities.
The Afghan envoy was addressing a conference on Doing Business with Afghanistan organised by FICCI and the external affairs ministry.
In order to improve trade relations between India and Pakistan, the Pakistan Chambers of Commerce and Industry (FPCCI) has suggested that positive change of attitude and some polices like easy visa regimes, lower duty, etc can benefit both sides. The bilateral trade between India and Pakistan is currently at a modest USD 2.6 billion annually. But, the chambers from both sides are hopeful to raise it to USD 7-8 billion by next year.
Speaking on the strict visa regimes between the two countries, President of FPCCI, Zubair Ahmed Malik told KNN, “Visa is a very major problem. Two of the delegations from India are expecting clearance from the Pakistan side. Likewise, 2-3 of the Pakistani delegations are expecting clearance from the Indian side.”
Switzerland's economy grew a touch more than expected in the third quarter on the back of a pick-up in exports of goods and government spending.
Gross domestic product expanded 0.5 per cent compared to the previous quarter, and grew by 1.9 per cent year-on-year, the State Secretariat for Economic Affairs ( SECO) said on Thursday.
Analysts polled by Reuters had forecast quarterly growth of 0.4 per cent on average, while the year-on-year figure also beat forecasts of 1.7 percent.
According to the FISME Factor, 67 per cent of the Micro, Small and Medium Enterprises (MSMEs), think that the trade deficit will not improve in the coming months
One of the big questions confronting many entrepreneurs is: is it better to be a solo founder or are ventures with co-founders more successful? Well, it depends from what perspective you're asking that question.
Till recently, the law determined what your venture looked like on paper. The Companies Act did not recognise solo-founders and, thus, promoters would typically sign up their wife, brother or dad as the second promoter, to meet legal requirements.
Here's good news from the legal world for promoters and private equity investors. Last month, the Securities and Exchange Board of India (SEBI) notified that company contracts can now include clauses including a Call and Put option, and pre-emption rights.
First, let's simplify these terms. An option is a right and not an obligation. A 'call option' is simply an option that allows existing shareholders to purchase shares at a fixed price within a specified time period. A 'put option' is an option to sell shares at a specified price before a specified period.
Sheena Agarwal believes your image is your calling card and there's no brand more important than Brand You. That's something many companies as well as individuals in India are quickly realising. As the cut-and-thrust of corporate work and war intensifies and the workplace gets increasingly globalised, the way corporate companies, their employees and entrepreneurs present themselves could make a world of difference.
Across the country, startup ventures are shutting down within a year of launch as the pressures of hiring talent, finding clients and raising money take their toll on the business. "On paper, the business proposition and scalability all look great, but as we get down to executing it there are unanticipated difficulties," said Rohit Sharma, who closed his online toy portal WopShop within six months of starting up last year.
Villages in India have spending power, but they also has some unique problems. What this combination has done is to stoke entrepreneurship among professionals aiming to offer solutions and tap into the rural opportunity...
"The most dangerous poison is the feeling of achievement. The antidote is to every evening think what can be done better tomorrow." 
Buy our one-of-a-kind guide to all industrial testing laboratories in India. Find the one most convenient for getting your products tested and certified. An invaluable compendium for all industrial units and exporters.
If you are an exporter you simply cannot do without this unique publication which tells you how to manage payment and other risks arising from exports.
