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  The FISME Factor  


President's Message
Dr. Sangam Kurade, President, FISME " Towards ease of doing business, the online MSME registration mechanism –Udyog Aahdar Memorandum (UAM) initiative has been one of the major moves by the Modi Government. In a detailed interview given to KNN recently by Hon’ble MSME Minister Shri Kalraj Mishra has explained that simple one page format has been a hit and over 50,000 MSMEs have already acquired registration. It indeed is a huge step towards simplification. However, follow-up stories by KNN team revealed that most states have yet to synchronize these numbers with their systems. I think states need to be taken on board urgently as it seems there is a communication gap between the Centre and the States. What is surprising is that not only the entrepreneurs and industry associations including states such as Tamil Nadu, Karnataka, Andhra Pradesh but even the staff at District industries Center are unaware about UAM. Govt. needs to take up a nationwide awareness campaign. MSME associations should also make special efforts to popularize it and also inform the Govt. if there are difficulties in implementing it at State level "
Dr. Sangam Kurade, President, FISME
Vol IV, Issue 95: December 1, 2015
FISME participated in the RBI meeting on MSME credit
Business Banter: Lessons from Entrepreneurs
Hard work will always outweigh talent
Macro Metre
India on course to achieve 4% agriculture growth: Radha Mohan Singh Knowledge and News Network (KNN)
Wealth in India to grow faster than China by 2020 Knowledge and News Network (KNN)
Centre may hike minimum wages to boost economy: official
Domestic Digest
Through MUDRA bank small traders and businessmen are being funded: PM Modi
Both formal & informal workers to be covered under Social Security scheme, paid minimum wages: Labour Ministry Knowledge and News Network (KNN)
The government's Plan B for GST
State Scan
Hyderabad to host MIT start-up workshop Knowledge and News Network (KNN)
Kerala govt setting up panel to study plantation woes
How Karnataka's horticulture department is turning the farmer into an entrepreneur
World Watch
Japan to provide Rs 5,536 crore loan for metro projects in Chennai and Ahmedabad
India Expo to be held in Dhaka on Nov 28-29 representing sectors from MSMEs
Knowledge Store
17-year-old designs new-gen apps for solar power
...And A Lot More

FISME participated in the RBI meeting on MSME credit

FISME participated in the 33rd Meeting of the RBI empowered committee on MSME credit for NCT region. At the meeting issues related to credit flow to MSMEs were discussed. FISME representative at the meeting requested attention of the Committee to the poor growth rate in credit to MSMEs, asking of additional collateral by the Banks, non- implementation of Framework for Revival and Rehabilitation of MSMEs by the Banks etc. Chairing the meeting Sh. K.K. Saraf, Regional Director of RBI, New Delhi advised the Banks to upscale credit to the MSME sector to reach the target of 20% Year on year growth as stipulated by the Prime Minister’s Task Force. On revival of the sick / non performing MSMEs, General Manger, SIDBI, New Delhi informed the Banks that initiating revival of sick MSMEs, the Banks would reduce their NPA burdens. The meeting was attended by senior executives of all scheduled banks of Delhi.
Business Banter: Lessons from Entrepreneurs

Hard work will always outweigh talent

The number-one lesson I’ve learned in my lifetime is that nothing beats hard work. Hard work outweighs talent and intelligence and is necessary if you want to succeed. This not only means working hard when things are going well, but working harder when things are not. It means taking calculated risks and sticking to them, no matter how challenging they are.
Writing on the Wall

First, raise the game in manufacturing

(Adapted from the Editorial Section, The Economic Times)

The government has reportedly nudged IIT-Bombay to alter their normal placement schedule and give engineering, rather than financial or consulting, companies Day One slots, to pick up the best students. The motivation is to give a nudge to Make in India. The motive might be noble, but the move is misguided and fails to understand that pricing plays a vital role in sensible allocation of resources.


Media Monitor

Macro Metre

India on course to achieve 4% agriculture growth: Radha Mohan Singh

India is close to attaining 4 per cent growth in agriculture while grappling with a new set of challenges in the form of stressed natural resources and climate change. "We are striving towards achieving this goal and we are hopeful that with the collective efforts we will be able to achieve this target," agriculture minister Radha Mohan Singh said at a function to commemorate the Golden Jubilee of the Green Revolution in India, which helped boost the country's farm production with the adoption of high-yielding crops and modern techniques.

India needs to be a quality- and cost-competitive exporter: Arun Jaitley

Emphasising on the need for India to become a quality competitive exporter, Finance minister Arun Jaitley has said that it is a challenge to expand trade at a time when global trade is sluggish. "Since purchasing power of global buyers is contracting, expansion of domestic and international economic activity is challenging...We have to create an ecosystem which can create a new market for India," Jaitley said at an event organised at the India International Trade Fair here.

Wealth in India to grow faster than China by 2020

Swiss private wealth manager, Julius Baer estimates that wealthy individuals in India will be worth $2.3 trillion by 2020 from $1.425 trillion in 2016. In a report released on Thursday, its fifth annual Asia Wealth Report which monitors the cost of living in luxury and wealth creation in Asia, Julius Bear said 25% of global wealth is estimated in the continent of which India is strategic part. China continues to be the country with the highest amount of wealth. Wealthy individuals are projected to be worth $8.25 trillion in 2020 from $5.10 trillion in by 2016.

Centre may hike minimum wages to boost economy: official

The government will enhance minimum wages and make it mandatory across the country to boost demand for goods and services for pushing economic growth and creating jobs, Labour Secretary Shankar Aggarwal today said. “We will create a law to give certain minimum wages across the country in all trades and not only in scheduled employments (as per existing law),” Aggarwal said while addressing at a conference organised by CII here. He further said, “We will increase the wages under Minimum Wage Act so that workers have decent wages aligned with inflation and have some money to buy goods and services.” Aggarwal is of the view that the economic growth can be boosted by creating jobs and for that there is need of creating demand for goods and services for increasing manufacturing and other economic activities.

Domestic Digest

Through MUDRA bank small traders and businessmen are being funded: PM Modi

Wooing the foreign investors to invest in India, Prime Minister Narendra Modi apprised them about the Mudra Bank saying that through the new bank, small traders and businessmen are being funded. Pointing that one of the key strategies of his government is to make money reach marginalized, he said, “With this objective, we opened 190 million new bank accounts. Through them, we are trying to ensure direct transfer of benefits to the poor. This targeting is also bringing discipline in Government expenditure. We have also launched new insurance and pension schemes.

Both formal & informal workers to be covered under Social Security scheme, paid minimum wages: Labour Ministry

All the employees, both from the formal and informal sectors, will be brought under the social security scheme, Shankar Aggarwal, Secretary (Labour & Employment), said adding that the government is planning to introduce a law which will ensure minimum wages to be paid to every working class, irrespective of formal or informal sector. While speaking at the Inaugural Session of the CII National Conclave on Employee Relations, he said, “Most of the current labour laws in India are old and archaic. Since the Industrial scenario has been undergoing a change, labour laws need to be changed to reflect the current economic requirements of the country.”

The government's Plan B for GST

The Centre is confident of rolling out a combined goods and services tax (GST) at the national level in time to meet the April 2016 deadline, even before states get their legal structures in order. "Nothing in the law stops the Centre from doing so in this financial year (FY16)," said an officer in the know of the developments. The plan is a fallback option, to be resorted to only if the government is unable to make the first of the three Constitution amendment Bills sail through in the current session of Parliament. One of the options is to raise both excise and service tax rates in FY16, as these are way below any expected GST rates.

MSME Ministry asks industry to strive for quality on continual basis

MSME Secretary Anup K Pujari has asked the industry to “strive” for quality on a continual basis saying that a wave of technologies and ideas can create a revolution and surely turn the wheel for manufacturing in India. He said that the focus of the Government is to implement schemes that will bring down the production cost and yet increase the competitiveness of the MSME sector. Pujari said this at the inaugural of the 8th National Cluster Summit in the national capital on Tuesday. A wave of technologies and ideas can create a revolution and surely turn the wheel for manufacturing in India.

Germany's SME Story - Lessons for India: Report

The SME-led development of Germany is a unique and highly successful economic phenomenon that could serve as a model to promote trade and industry for emerging India, said a report by Institute for Small Enterprises and Development (ISED). A recent study by the International Monetary Fund (IMF,2015) has summarised India's challenges on the export front, in relation to some critical areas. Structural transformation depends not only on how much countries export, but also on what they export and with whom they trade. But, what do the SMEs, who contribute the bulk of India's exports, perceive? This is a critical issue for which a satisfactory answer is still begging.
State Scan


Hyderabad to host MIT start-up workshop

In a further push to start-up activity in Hyderabad, the Massachusetts Institute of Technology Global Start-up Workshop (MITGSW) will be held here between March 21-23. Top speakers including Gururaj Deshpande of Deshpande Foundation, Ketan Makwana of Rockstar Hubs, Ashok Rao, TiE Global and several successful entrepreneurs from the Silicon Valley and across the world. MIT GSW, a non-profit organisation, is involved in the promotion of entrepreneurial culture and the construction of entrepreneurial ecosystems at a global scale. MIT has awarded the Catalyzer Startup Accelerator from Hyderabad, with the bid to host the MIT Global Startup workshop 2016 said Sunil Mayreddy, Managing Director. Each year, MIT GSW organises an annual conference in a different country, bringing together more than 300 entrepreneurs, executives, next generation entrepreneurs, academia, finance practitioners and government officials with the aim of fostering linkages between cultures, regions and environments.


Kerala govt setting up panel to study plantation woes

The Kerala Government is setting up a one-man commission to study problems faced by the ailing plantation sector, particularly tea, rubber, cardamom and coffee. Retired judge N Krishnan Nair has been asked to present the report in a month. The decision to appoint the panel was taken at the weekly meeting of the State Cabinet on Wednesday. During the recent negotiations to end the labour strike for higher wages, the government had offered to appoint a commission to study the crisis in the plantation sector. The plantation sector in Kerala, particularly tea gardens and rubber plantations, is undergoing one of the worst crisis in the recent times, caused by dwindling commodity prices and rising cost of production, causing both corporate plantations and individual planters too make heavy losses.


How Karnataka's horticulture department is turning the farmer into an entrepreneur

With farmers' suicides in Karnataka touching 800, the highest ever in the state, the government is quickly pushing through an initiative to promote cash-rich horticulture farming by linking up the poor and marginal farmer directly to private companies that deal with agri-produce. Using a programme devised by the Congress-led United Progressive Alliance (UPA) in its second term for integrated agriculture development through private-public-partnerships (PPP-IAD), the state's horticulture department is dovetailing state, central and corporate initiatives to turn the farmer into a horti-business entrepreneur.


Mizoram to be developed as 'bamboo state': DoNER Minister

Union Minister of Development of North Eastern Region, Jitendra Singh has said that the union government is committed to develop Mizoram as the ‘Bamboo state of India’. He said that Mizoram is blessed with very high production of bamboo, which can be turned into a major source, not only for furniture but also for paper supply to the rest of the country. “This could, not only generate revenue for the State, but also create opportunities for youth outside India. In this regard, he said, he had already initiated an effort to reinforce “Bamboo Development Board” of India,” said Singh.
World Watch


Japan to provide Rs 5,536 crore loan for metro projects in Chennai and Ahmedabad

India and Japan today exchanged notes for Japan's Official Development Loan Assistance ( ODA) worth Rs 5,536 crore for Chennai and Ahmedabad metro rail projects. "India and Japan exchange notes for Japan's Official Development Loan Assistance worth Rs 5,536 crore to India for Chennai Metro Rail Project (IV) and Ahmedabad Metro Project," said an official release. The notes were exchanged here between S Selvakumar, Joint Secretary, Department of Economic Affairs and Yutaka Kikuta, from the Embassy of Japan to India.
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India Expo to be held in Dhaka on Nov 28-29 representing sectors from MSMEs

In the background of tremendous scope of exports to Bangladesh with India’s total imports in December 2014 of USD 41 billion and Indian exports of USD 7 billion to Bangladesh, India Expo Dhaka is being organised by FIEO on November 28-29, 2015 at the Pan Pacific Sonargaon, Dhaka, Bangladesh with a contingent of 96 delegates representing 53 companies from all over India. The sectors being represented are mostly from the MSMEs- Footwear, Agri And Spices, Textiles, Furniture, Packaging Material, Monobloc Pumps Etc, Water Treatment Plant, Plastic Granules, Environment Monitoring System, Medical Testing Systems, Auto Parts, Tobacco Leaves, Quartz, Shellac And Button Lac.
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World leaders in Paris for crucial UN climate summit

A key UN climate change summit that will be attended by nearly 150 world leaders including Prime Minister Narendra Modi kicks off tomorrow under the shadow of the deadly Paris terror attack to try to craft a long-term deal to limit carbon emissions. As Modi headed to the French capital setting the tone for the summit with his remark today that it is the responsibility of all to work against global warming, UN chief Ban Ki-moon underlined the need for a durable universal deal to address rising green house gas emissions. ”...In the Summit, we will deliberate on crucial issues relating to environment & climate change,” Modi tweeted just before his departure from India.
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Upcoming Events

Seminar cum Business Meeting With Chinese Delegation

Date: 07th Dec 2015
Venue: Hotel Claridges, Aurangzeb Road, New Delhi
See Details
FISME’s official Twitter handle
Knowledge and News Network (KNN)
KNN India’s official Twitter handle
Anil Bhardwaj, Secretary General
Other Events

Business Opportunities Show

Date: 04th Dec 2015
Venue: Crown Goa, Goa
See Details

Inside 3d Printing Conference And Expo

Date: 03rd – 04th Dec 2015
Venue: Nehru Centre, Mumbai
See Details

LED Expo Delhi

Date: 03rd – 05th Dec 2015
Venue: Pragati Maidan, New Delhi
See Details


Date: 03rd – 05th Dec 2015
Venue: IARI, Pusa, New Delhi
See Details

India Ecommerce Expo (IEE)

Date: 05th Dec 2015
Venue: Sheraton Hotel, Hyderabad
See Details

Global SME Business Summit

Date: 07th – 08th Dec 2015
Venue: India Habitat Centre, New Delhi
See Details
Your Views

Do the Bihar Poll results sent a signal for the end of ‘Modi wave’?

According to the FISME Factor, 60 percent of Micro, Small and Medium Enterprises (MSMEs) deny that the Bihar Poll results sent a signal for the end of ‘Modi wave’ while 40 percent think otherwise.
Knowledge Store

HR Heuristics

3 Steps To Talk (Think & Be) Like A Great Leader

Everybody wants to be a great leader. And you would surely want to test if your boss, colleague or peer is truly a great leader, or a fake. Good news is - there is a simple but profound test of leadership is to analyse the statements made by leaders. And it takes just three steps.

Finance Fundamentals

StartUp EarlySalary.com Raise 1.5 Mn Seed Capital

FinTech start-up EarlySalary.com, led by Akshay Mehrotra, Ashish Goyal, & Jay Jain, has raised USD 1.5 Million as seed capital investment Seed funds invested by a group of investors led by Ashok Agarwal of Transcorp Group Aims to introduce mobile app-based lending platform in 3 months EarlySalary is small bridge loan given till the next salary credit EarlySalary.com, a FinTech startup , has successfully raised USD 1.5 million seed capital from Ashok Agarwal of Transcorp Group.

Marketing Mantras

Internet of Things Herald New Manufacturing Era

The term Internet of Things (IoT) has the caught the imagination of the technology and automation companies. IoT is used to describe intelligent devices that can be networked to communicate data/information so as to enhance collaboration among all networked entities. IoT devices, when embedded in a physical entity, can capture and analyze data relating to the physical entity, generate relevant information, and share the same with other networked devices.

Policy Polemic

Lack of investment, low utilisation of capacity hurting foundry sector

The Indian foundry industry foresees huge potential for growth, both in the domestic and export fronts. But what ails the sector is investment, say industry experts. Conceding that the Centre’s thrust on the manufacturing sector coupled with the ‘Make in India’ drive could give the required growth momentum, K Samaraj, President of the Institute of Indian Foundrymen, said: “The sector is utilising only about 65 per cent of capacity. The industry requires investment to the tune of at least $3 billion to meet the increasing demand for castings, estimated at 25 to 30 million tonnes in 10 years.”

SME Special

17-year-old designs new-gen apps for solar power

Armaan Puri says his grandfather and father keep talking to him about the solar energy sector every day and he "can't help but get inspired". The 17-year-old resident of Delhi is putting that inspiration to good use. He has designed two mobile apps on solar power, which have been referred by the ministry of new and renewable energy (MNRE) to its fully-owned research agency National Institute on Solar Energy (NISE), to develop it further and take it to a commercial level.

Success Story

Cube26: Driving the next wave of innovation

Saurav Kumar, an ardent sci-fi fan, and Abhilekh Agrawal, a specialist in creating scalable systems and architecture design, met each other at various hackathons in the US and noted both were equally passionate about information technology. And, the absence of a business use-case at the beginning was not a deterrent.


The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, has released the Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of September 2015

Quotable Quotes

“ The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer not a dreamer. ”
– Nolan Bushnell, founder Atari and Chuck-E-Cheese’s
Country Chronicles
FISME regularly receives monthly reports on the economies of various countries from their missions in India. These reports provide information on key economic parameters, trade related information and all news relevant for importers and exporters. In this edition you can take a look at reports on:
Starting a New Venture
Coming August, K J Somaiya Institute of Management Studies and Research located in Vidyavihar, Mumbai is launching a certificate programme on Creating New Ventures.
New Members

4 New Members Join FISME

During the period from 15th Nov 2015 to 30th Nov 2015 a total of 4 new MSME became members of FISME.
Reader Reactions

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Editorial Team:
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Asstt. Editor: Simmi Nagpal
Types setting & websdesigning: Sanjay Sachan  
Video & Photography:  Pramod Poddar


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