If you are unable to view this mailer, click here.
President's Message
" Indian Defence sector which has been largely import dependent- 80% of its capital equipment needs are met through imports, is taking a decisive turn towards developing indigenous capabilities. The Defence procurement policy and structures are under complete transformation. The amended Defence Production Procedure (2016) has already been announced. Further, a new defence procurement organization is under advance stage of discussion. In new scheme of things two things stand out: focus on Make in India and MSMEs. I am happy to share that FISME has been an in invitee and has been participating in all of these discussions actively. There is already an MSME dispensation in DPP, offset rules and procurement done by Defence PSUs. In the new proposition of Strategic partners, FISME has proposed that selected partners must outsource 60% value of goods/ services to Indian vendors and one third of it (20% of total contract value) should be procured from MSMEs. FISME has also proposed a separate Department for MSMEs adjunct to the Defence Procurement Organization. I assure to you that we shall continue to open doors for MSMEs to opportunities in the Defence sector.
"
As a part of “Promotion of Regional Value Chain” for intra-regional trade among SAARC countries, FISME organised a multilateral trade delegation to Bangladesh from India and Sri Lanka. The objective of the trade delegation is to understand the industry dynamics of the textiles industry in Bangladesh and to facilitate for setting up institutional mechanism for promoting regional trade among SAARC countries.
Around 20 delegates from India representing textiles and garments sectors have participated in the 3 day trade delegation to Dhaka to explore the business opportunities. To fulfil one of the main objectives of the project, i.e. the organisation of direct interface between the buyers and sellers for market access.
Under the project ‘Promotion of Interregional Trade Potentials in the SAARC Region’ supported by the SAARC Trade Promotion Network and GIZ, the German international development agency, FISME as the lead implementing agency for the project, an interactive seminar with various stakeholders of textiles industry in Bangladesh was held on 24th May, 2016 at SME Foundation, Dhaka followed by interaction meeting with Bangladesh Textile Mills Association, Bangladesh Garments Manufacturers and Exporters Association and Bangladesh Knitwear Manufactures and Exporters Association. A focussed B2B meeting were also held to explore mutual business opportunities between India and Bangladesh counterparts.
Entrepreneurs come from many different walks of life and span every industry, product type, generation and culture. But what all of these entrepreneurs have in common is the steep learning curve to success, with many lessons being learned along the way. So what wisdom can we learn from some of today’s leading entrepreneurs?
The new IPR policy is reformist, but misses the big picture
The recently released national IPR policy does a reasonably good job of striking a balance between public interest on the one hand and the need to protect and incentivise innovation on the other. However, the backdrop is not to be overlooked: the developed world, particularly the US, has put India’s IPR laws under ‘watch’ for not protecting innovation and discouraging research and investment. Mega trade blocs are pushing a WTO-plus agenda which does not allow for domestic elbow room in the case of IPR. ...
The Union Cabinet, chaired by the Prime Minister Narendra Modi has given its approval for National Capital Goods Policy. The policy also aims to facilitate improvement in technology depth across sub-sectors, increase skill availability, ensure mandatory standards and promote growth and capacity building of MSMEs.
This is first ever policy for Capital Goods sector with a clear objective of increasing production of capital goods from Rs.2,30,000 crore in 2014-15 to Rs.7,50,000 crore in 2025 and raising direct and indirect employment from the current 8.4 million to 30 million.
The Government of India has, in collaboration with the State Governments of Delhi and Maharashtra, undertaken significant reform measures to improve our rank in Starting a Business parameter, according to a DIPP newsletter on Ease of Doing.
The rank has improved from 164 to 155 over the last one year, it said.
“Registration with ESIC and EPFO has been made real-time by eliminating all physical touch-points. The requirement of opening a bank account has been removed as a mandatory condition for registration with ESIC and EPFO,” said the newsletter on reforms undertaken towards doing business in India.
Little knowledge of the officials about plastic made the plastic manufacturers “criminals” with around 750 units closed, 70,000 labours left unemployed and burgeoning loan of Rs 3000 crore. This is the view of most of the plastic manufacturers in the states where plastic manufacturing bans were imposed overnight.
The Karnataka State Plastic Association (KPSA) told KNN that plastic ban had been introduced in Karnataka since March 2011.
To encourage solar power generators and equipment manufacturers, the New and Renewable Energy Ministry will unveil a policy on solar zones that would be spread over one or more districts of a state.
"We have been working on a new policy for solar zones, which would be spread over one or even more districts of a state to encourage generators as well as equipment manufacturers," Ministry of New and Renewable Energy Joint Secretary Tarun Kapoor told PTI. "The work on the policy is almost complete and it will be launched next month," he added.
A large swath of the Micro, Small and Medium Enterprises (MSMEs) in India seems to be disappointed with RBI Governor Raghuram Rajan because of double whammy unleashed by NPA norms and third party ratings during his regime.
The controversial RBI ‘Framework for Revitalising Distressed Assets’ and its related provisions of Special Mention Account (SMA) were introduced in Feb 2014 and is said to have created huge problems in the MSME sector.
Government today approved the revision in guidelines of the Performance in Credit Rating Scheme, aiming to increase its credibility and effectiveness for both borrowers and banks.
Under the revised guidelines, the fee to be paid to the rating agencies shall be based on the turnover of the micro and small enterprises which has been categorised into three slabs.
For turnover up to Rs 50 lakh, the fee to be reimbursed by the MSME Ministry will constitute 75 per cent of the fee charged by the rating agency subject to a ceiling Rs 15,000.
Government has made further amendments in the Apprentice Act to make it more user friendly, particularly to the Micro, Small & Medium Enterprises (MSMEs).
At a meeting called today by the Ministry of Skill Development and Entrepreneurship, Secretary Rohit Nandan announced that Government has deleted all coercive measures like imprisonment etc., for non- compliance of the Apprenticeship Act.
In order to promote the rich cultural heritage of the North Eastern States of India, an Exhibition on Handloom and handicrafts from North Eastern States of India will be inaugurated jointly by Jitendra Singh, Minister of State for Development of North Eastern Region and Santosh Kumar Gangwar, Minister of State for Textiles, on May 30, 2016, at Central Cottage Industries Emporium, Janpath, New Delhi.
As per the official release, this is an initiative jointly taken by the Ministry of Development of North Eastern Region (DoNER)
Taking another step towards improving business environment in the country, the procedure for filing application under Merchandise Export Incentive Scheme (MEIS) for EDI shipping bills has been simplified.
In a notification, the Directorate General of Foreign Trade (DGFT) said, “Shipments from different EDI ports will not require separate applications.”
Also, the ANF 3A has also been modified.
Earlier, applicant had to file separate application for each port of export.
After the amendment, “Applicant shall file separate application for each port of export in case of Non EDI Shipping bills.
Indian entrepreneurs need to focus on building an innovation-driven economy and not just a globally competitive one, said Jayant Sinha Minister of State for Finance addressing a gathering of entrepreneurs.
Sinha was speaking at the launch of Policy Hack, an initiative by Indian software industry think-tank iSPIRT to simplify government policies for Indian entrepreneurs.
The minister acknowledged the need for great universities, where aspiring entrepreneurs can learn and be like at global universities such as the UK's
In order to boost the Micro, Small and Medium Enterprises (MSMEs) in the state, Jharkhand Government has come up with the scheme to reward the best performers of MSMEs.
Talking to KNN, the President of Jharkhand Small Industries Association, Yogendra Kumar Ojha said that the existing industries get boost due to these schemes.
As per the proposal, persons excelling in their respective areas would be given state-level awards in eight categories, said an official release.
Showcasing the latest machines tools to help upgrade manufacturing, a Machine Tools show is being organized in the city in November.
The industrial exhibition, the 6th edition of Rajkot Machine tools show -2016, is being held from November 23-26, 2016 in Rajkot.
The event is being jointly organized by KPMG Business Technology & Machine Tools MFRS Association, Rajkot.
Some of the key displays during the show would include - Machine Tools- Cutting & forming; Robotics; Automation; Hydraulics & Pneumatics; Pumps & Valves; Industrial Lubricants and more.
Haryana government is all set to introduce Heli services for connecting the Industrial Estates and IMTs, and to provide air ambulance services, air tourism services, helicopter emergency medical service etc.
The move aims to facilitate the intending investors and entrepreneurs, patients, accident victims’ etc through the helipad for which Haryana State Industrial & Infrastructure Development Corporation (HSIIDC) will provide the land.
The West Bengal government is making efforts by way of rural fairs, loans and more to boost the traditional – sitalpati industry consisting of micro and small enterprises from the region.
There are around 50,000 sitalpati makers living in Cooch Behar’s Natabari Assembly segment.
“The Trinamool Government’s efforts helped expand their market and improve living standards,” the party said in a release.
Local MLA Rabindranath Ghosh has been appointed as North Bengal Development Minister and the handicraft’s artisans are hoping for further boost to their traditional business.
India and Australia have signed a pact to boost horticultural research in a bid to develop and deploy modern tools of plant biotechnology to improve crop productivity with a funding commitment of up to Australian $ 6 million over a period of three years.
The pact was signed between the Biotechnology Industry Research Assistance Council (BIRAC), a public sector enterprise, and Horticulture Innovation Australia (Hort Innovation) on Friday for launching a joint funding call to support research and development (R&D) organisations and other eligible entities to undertake novel and cutting-edge strategic translational research in horticulture at affordable costs, an official release said.
India, the world's biggest rice exporter, will soon finalize a non-basmati rice exports contract with Indonesia in a rare government-to-government deal, Trade Secretary Rita Teaotia said on Monday, as rice prices started firming up following drought in key producing countries.
India could ask the state-run Food Corporation of India to sell around 1 million tonnes rice from its stockpile to Indonesia, the world's leading rice importer , industry officials said.
India and Nepal are planning to setting up an energy bankso that they can help each other to overcome the problem of power shortage.
The proposal was discussed at a meeting of the India-Nepal Joint Standing Committee, a bilateral technical mechanism on water resources, power and irrigation projects, which concluded yesterday.
The two countries have conducted informal discussions regarding the energy bank before, but this is the first time that Nepal has made a formal proposal, Kathmandu Post reported.
India today promised a conducive environment for Chinese investors and urged them to participate in 'Make in India' and other flagship programmes of the government to boost bilateral trade. "We will facilitate your efforts to make your investments in India profitable. We must take advantage of the opportunities that abound in the growth of both our economies," said President Pranab Mukherjee addressing a meeting of the India-China Business Forum here on the second day of his four-day visit to China.
Do you think days of easy funding for Indian startups are over?
According to the FISME Factor, about 70 percent of Micro, Small and Medium Enterprises (MSMEs) think that days of easy funding for Indian start-ups are not yet over while 20 percent think otherwise.
Seven disciplines that bring entrepreneurial freedom
You wish to become an entrepreneur to free yourself from the constraints of your job. But, after getting started, you discover that the freedom you desire is elusive. Constraints from your job are now replaced by those from cashflows, investors, employees, clients, vendors and several other sources.
The financial world is complex and navigating it is a challenge. For an individual or a company, there are hundreds of products and instruments that claim to work towards your financial goals. However, there are seven essentials that you should keep in mind to make life easier.
Many advertisers believe that Cost Per Action (CPA) market .ng is the best option for acquiring users, instead of Cost Per Install (CPI). And there are a number of reasons why that theoretically seems like a good decision for them.
In the short history of mobile user acquisition, advertisers have increasingly sought ways to spend their budget to deliver tangible returns for their app. In this context, CPA advertising seems like a logical end point for them to aspire to.
Ludhiana cycle industry was already suffering due to cheap Chinese imports; why invite them: MSMEs
The bicycle industry in Ludhiana, which mostly consists of the micro, small and medium enterprises (MSMEs), has asked the state government not to promote Chinese industry in Ludhiana.
The reaction came after the Deputy Chief Minister Sukhbir Singh Badal Sunday met the Chinese Bicycle Association (CBA) in Shanghai and invited them to invest in Ludhiana, where, he said 300 acres of land has been set aside for manufacturing high-end bicycles.
26-year-old Ritesh Malik's Innov8 is the hottest co-working space in the country
Doctor turned entrepreneur Ritesh Malik wanted to start a co-working space in Delhi. Not wanting to compromise on the location, Malik did the unimaginable by picking up an officially classified "heritage building" in the world's sixth most expensive office market space - Connaught Place.
While Digital India is not easy to bring about on ground, its potential is unquestionable. Consider that there are about 40 million small and medium businesses in India, and around 11 billion invoices are raised in a year (according to various sources). One of the most obvious places then for a start-up to make a contribution to realising Digital India would be in B2B transactions.
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
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.
send mail to: newsletter@fisme.org.in
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.
PP: 894, Hard Cover.
Price: Rs 900.
50% discount for members.
You are receiving this Newsletter because you are included in our mailing list of recipients who are involved or interested in FISME or Indian MSMEs. You are welcome to partly or fully reproduce and disseminate the contents of this publication provided that you acknowledge the source.
This Newsletter is edited by the FISME Secretariat. We welcome contributions as well as comments and suggestions. Please write to newsletter@fisme.org.in
" Indian Defence sector which has been largely import dependent- 80% of its capital equipment needs are met through imports, is taking a decisive turn towards developing indigenous capabilities. The Defence procurement policy and structures are under complete transformation. The amended Defence Production Procedure (2016) has already been announced. Further, a new defence procurement organization is under advance stage of discussion. In new scheme of things two things stand out: focus on Make in India and MSMEs. I am happy to share that FISME has been an in invitee and has been participating in all of these discussions actively. There is already an MSME dispensation in DPP, offset rules and procurement done by Defence PSUs. In the new proposition of Strategic partners, FISME has proposed that selected partners must outsource 60% value of goods/ services to Indian vendors and one third of it (20% of total contract value) should be procured from MSMEs. FISME has also proposed a separate Department for MSMEs adjunct to the Defence Procurement Organization. I assure to you that we shall continue to open doors for MSMEs to opportunities in the Defence sector.
"
Edited.jpg)
As a part of “Promotion of Regional Value Chain” for intra-regional trade among SAARC countries, FISME organised a multilateral trade delegation to Bangladesh from India and Sri Lanka. The objective of the trade delegation is to understand the industry dynamics of the textiles industry in Bangladesh and to facilitate for setting up institutional mechanism for promoting regional trade among SAARC countries.
Around 20 delegates from India representing textiles and garments sectors have participated in the 3 day trade delegation to Dhaka to explore the business opportunities. To fulfil one of the main objectives of the project, i.e. the organisation of direct interface between the buyers and sellers for market access.
Edited.jpg)
Under the project ‘Promotion of Interregional Trade Potentials in the SAARC Region’ supported by the SAARC Trade Promotion Network and GIZ, the German international development agency, FISME as the lead implementing agency for the project, an interactive seminar with various stakeholders of textiles industry in Bangladesh was held on 24th May, 2016 at SME Foundation, Dhaka followed by interaction meeting with Bangladesh Textile Mills Association, Bangladesh Garments Manufacturers and Exporters Association and Bangladesh Knitwear Manufactures and Exporters Association. A focussed B2B meeting were also held to explore mutual business opportunities between India and Bangladesh counterparts.
The Union Cabinet, chaired by the Prime Minister Narendra Modi has given its approval for National Capital Goods Policy. The policy also aims to facilitate improvement in technology depth across sub-sectors, increase skill availability, ensure mandatory standards and promote growth and capacity building of MSMEs.
This is first ever policy for Capital Goods sector with a clear objective of increasing production of capital goods from Rs.2,30,000 crore in 2014-15 to Rs.7,50,000 crore in 2025 and raising direct and indirect employment from the current 8.4 million to 30 million.
The Government of India has, in collaboration with the State Governments of Delhi and Maharashtra, undertaken significant reform measures to improve our rank in Starting a Business parameter, according to a DIPP newsletter on Ease of Doing.
The rank has improved from 164 to 155 over the last one year, it said.
“Registration with ESIC and EPFO has been made real-time by eliminating all physical touch-points. The requirement of opening a bank account has been removed as a mandatory condition for registration with ESIC and EPFO,” said the newsletter on reforms undertaken towards doing business in India.
Little knowledge of the officials about plastic made the plastic manufacturers “criminals” with around 750 units closed, 70,000 labours left unemployed and burgeoning loan of Rs 3000 crore. This is the view of most of the plastic manufacturers in the states where plastic manufacturing bans were imposed overnight.
The Karnataka State Plastic Association (KPSA) told KNN that plastic ban had been introduced in Karnataka since March 2011.
To encourage solar power generators and equipment manufacturers, the New and Renewable Energy Ministry will unveil a policy on solar zones that would be spread over one or more districts of a state.
"We have been working on a new policy for solar zones, which would be spread over one or even more districts of a state to encourage generators as well as equipment manufacturers," Ministry of New and Renewable Energy Joint Secretary Tarun Kapoor told PTI. "The work on the policy is almost complete and it will be launched next month," he added.
A large swath of the Micro, Small and Medium Enterprises (MSMEs) in India seems to be disappointed with RBI Governor Raghuram Rajan because of double whammy unleashed by NPA norms and third party ratings during his regime.
The controversial RBI ‘Framework for Revitalising Distressed Assets’ and its related provisions of Special Mention Account (SMA) were introduced in Feb 2014 and is said to have created huge problems in the MSME sector.
Government today approved the revision in guidelines of the Performance in Credit Rating Scheme, aiming to increase its credibility and effectiveness for both borrowers and banks.
Under the revised guidelines, the fee to be paid to the rating agencies shall be based on the turnover of the micro and small enterprises which has been categorised into three slabs.
For turnover up to Rs 50 lakh, the fee to be reimbursed by the MSME Ministry will constitute 75 per cent of the fee charged by the rating agency subject to a ceiling Rs 15,000.
Government has made further amendments in the Apprentice Act to make it more user friendly, particularly to the Micro, Small & Medium Enterprises (MSMEs).
At a meeting called today by the Ministry of Skill Development and Entrepreneurship, Secretary Rohit Nandan announced that Government has deleted all coercive measures like imprisonment etc., for non- compliance of the Apprenticeship Act.
In order to promote the rich cultural heritage of the North Eastern States of India, an Exhibition on Handloom and handicrafts from North Eastern States of India will be inaugurated jointly by Jitendra Singh, Minister of State for Development of North Eastern Region and Santosh Kumar Gangwar, Minister of State for Textiles, on May 30, 2016, at Central Cottage Industries Emporium, Janpath, New Delhi.
As per the official release, this is an initiative jointly taken by the Ministry of Development of North Eastern Region (DoNER)
Taking another step towards improving business environment in the country, the procedure for filing application under Merchandise Export Incentive Scheme (MEIS) for EDI shipping bills has been simplified.
In a notification, the Directorate General of Foreign Trade (DGFT) said, “Shipments from different EDI ports will not require separate applications.”
Also, the ANF 3A has also been modified.
Earlier, applicant had to file separate application for each port of export.
After the amendment, “Applicant shall file separate application for each port of export in case of Non EDI Shipping bills.
Indian entrepreneurs need to focus on building an innovation-driven economy and not just a globally competitive one, said Jayant Sinha Minister of State for Finance addressing a gathering of entrepreneurs.
Sinha was speaking at the launch of Policy Hack, an initiative by Indian software industry think-tank iSPIRT to simplify government policies for Indian entrepreneurs.
The minister acknowledged the need for great universities, where aspiring entrepreneurs can learn and be like at global universities such as the UK's
In order to boost the Micro, Small and Medium Enterprises (MSMEs) in the state, Jharkhand Government has come up with the scheme to reward the best performers of MSMEs.
Talking to KNN, the President of Jharkhand Small Industries Association, Yogendra Kumar Ojha said that the existing industries get boost due to these schemes.
As per the proposal, persons excelling in their respective areas would be given state-level awards in eight categories, said an official release.
Showcasing the latest machines tools to help upgrade manufacturing, a Machine Tools show is being organized in the city in November.
The industrial exhibition, the 6th edition of Rajkot Machine tools show -2016, is being held from November 23-26, 2016 in Rajkot.
The event is being jointly organized by KPMG Business Technology & Machine Tools MFRS Association, Rajkot.
Some of the key displays during the show would include - Machine Tools- Cutting & forming; Robotics; Automation; Hydraulics & Pneumatics; Pumps & Valves; Industrial Lubricants and more.
Haryana government is all set to introduce Heli services for connecting the Industrial Estates and IMTs, and to provide air ambulance services, air tourism services, helicopter emergency medical service etc.
The move aims to facilitate the intending investors and entrepreneurs, patients, accident victims’ etc through the helipad for which Haryana State Industrial & Infrastructure Development Corporation (HSIIDC) will provide the land.
The West Bengal government is making efforts by way of rural fairs, loans and more to boost the traditional – sitalpati industry consisting of micro and small enterprises from the region.
There are around 50,000 sitalpati makers living in Cooch Behar’s Natabari Assembly segment.
“The Trinamool Government’s efforts helped expand their market and improve living standards,” the party said in a release.
Local MLA Rabindranath Ghosh has been appointed as North Bengal Development Minister and the handicraft’s artisans are hoping for further boost to their traditional business.
India and Australia have signed a pact to boost horticultural research in a bid to develop and deploy modern tools of plant biotechnology to improve crop productivity with a funding commitment of up to Australian $ 6 million over a period of three years.
The pact was signed between the Biotechnology Industry Research Assistance Council (BIRAC), a public sector enterprise, and Horticulture Innovation Australia (Hort Innovation) on Friday for launching a joint funding call to support research and development (R&D) organisations and other eligible entities to undertake novel and cutting-edge strategic translational research in horticulture at affordable costs, an official release said.
India, the world's biggest rice exporter, will soon finalize a non-basmati rice exports contract with Indonesia in a rare government-to-government deal, Trade Secretary Rita Teaotia said on Monday, as rice prices started firming up following drought in key producing countries.
India could ask the state-run Food Corporation of India to sell around 1 million tonnes rice from its stockpile to Indonesia, the world's leading rice importer , industry officials said.
India and Nepal are planning to setting up an energy bankso that they can help each other to overcome the problem of power shortage.
The proposal was discussed at a meeting of the India-Nepal Joint Standing Committee, a bilateral technical mechanism on water resources, power and irrigation projects, which concluded yesterday.
The two countries have conducted informal discussions regarding the energy bank before, but this is the first time that Nepal has made a formal proposal, Kathmandu Post reported.
India today promised a conducive environment for Chinese investors and urged them to participate in 'Make in India' and other flagship programmes of the government to boost bilateral trade. "We will facilitate your efforts to make your investments in India profitable. We must take advantage of the opportunities that abound in the growth of both our economies," said President Pranab Mukherjee addressing a meeting of the India-China Business Forum here on the second day of his four-day visit to China.
According to the FISME Factor, about 70 percent of Micro, Small and Medium Enterprises (MSMEs) think that days of easy funding for Indian start-ups are not yet over while 20 percent think otherwise.
You wish to become an entrepreneur to free yourself from the constraints of your job. But, after getting started, you discover that the freedom you desire is elusive. Constraints from your job are now replaced by those from cashflows, investors, employees, clients, vendors and several other sources.
The financial world is complex and navigating it is a challenge. For an individual or a company, there are hundreds of products and instruments that claim to work towards your financial goals. However, there are seven essentials that you should keep in mind to make life easier.
Many advertisers believe that Cost Per Action (CPA) market .ng is the best option for acquiring users, instead of Cost Per Install (CPI). And there are a number of reasons why that theoretically seems like a good decision for them.
In the short history of mobile user acquisition, advertisers have increasingly sought ways to spend their budget to deliver tangible returns for their app. In this context, CPA advertising seems like a logical end point for them to aspire to.
The bicycle industry in Ludhiana, which mostly consists of the micro, small and medium enterprises (MSMEs), has asked the state government not to promote Chinese industry in Ludhiana.
The reaction came after the Deputy Chief Minister Sukhbir Singh Badal Sunday met the Chinese Bicycle Association (CBA) in Shanghai and invited them to invest in Ludhiana, where, he said 300 acres of land has been set aside for manufacturing high-end bicycles.
Doctor turned entrepreneur Ritesh Malik wanted to start a co-working space in Delhi. Not wanting to compromise on the location, Malik did the unimaginable by picking up an officially classified "heritage building" in the world's sixth most expensive office market space - Connaught Place.
While Digital India is not easy to bring about on ground, its potential is unquestionable. Consider that there are about 40 million small and medium businesses in India, and around 11 billion invoices are raised in a year (according to various sources). One of the most obvious places then for a start-up to make a contribution to realising Digital India would be in B2B transactions.
“ No man will make a great leader who wants to do it all himself, or to get all the credit for doing it. ”
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.
