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President's Message
"
Both government and associations are busy pondering over problems and challenges faced by MSMEs. Hopefully, solutions to some of the problems would emerge. I feel emphasis is also required in equal measure on how MSMEs could exploit opportunities. There is a need to try out new models of marketing as scale of our MSME units is small and their number large. I think it is time we studied, experimented and tried out different models of collective marketing. "
Two of India’s largest bodies have come together to bring thousands of micro and small enterprises (MSMEs) on board of e-market place.
Flipkart and Federation of Indian Micro and Small & Medium Enterprises (FISME) have entered into an understanding through which they will jointly train and equip MSMEs in clusters to be e-marketplace ready and then Flipkart will provide access to its e-market platform. FISME is a network of over 740 MSME associations spread all over the country.
“In the first phase, 50,000 MSMEs will be targeted to be on board Flipkart ”, said Anil Bhardwaj Secretary General of FISME.
Department of Electronic & Information Technology (Deity) along with FISME organized an Interactive session on IPRs on Wednesday 18th June 2014 at Department of Electronics & Information Technology (DeitY), Ministry of Communications & Information Technology, Electronics Niketan, 6, CGO Complex, New Delhi covering Service cum Manufacturing sectors. The programme was attended by senior Executives from SMEs, IP professionals.
The programme showcased IP Panorama, an e-learning modules, an initiative of Department of Electronics and Information Technologies (Deity), Government of India, in collaboration with World Intellectual Property Organization (WIPO) with an aim to address various aspects of intellectual property and related issues in Indian scenario.
A delegation from Nottingham City Council visited FISME secretariat on 19th June 2014. The delegation led by Mr. David Bishop, Corporate Director-Development, Nottingham City Council and Mr. Chris Henning, Director for Economic Development, Nottingham City Council, were keen to develop a Trading Platform between Nottingham and India which will help Nottingham eventually help any business from India not just in Nottingham but also to expand throughout UK and Europe with the help of City’s other initiatives.
Nottingham, one of the eight “core cities” of Britain outside London with a large number of big corporates in transport, aerospace and clean technology, wants to ambitiously engage with India. Significantly, the city which has access to 90 per cent of British population within two hours of journey would like Indian SMEs to become part of the supply chain of the global companies located in and around Nottingham.
In most cases it takes good people to grow a business, and for an entrepreneur, this means delegating and trusting others to deliver the results that will grow the firm. Hiring the right people, engaging them in the pursuit of their dreams and giving meaning to the employees who are building the business requires different skills than those needed to launch a business. Readers will learn what those skills are and how the entrepreneur can use them to achieve smart growth. Business growth is one of the most talked about subjects in the entrepreneurial world. Unfortunately, much of that talk is based on faulty assumptions or erroneous beliefs about business growth. For the past ten years, I have been on a journey, along with some of my colleagues, trying to discover the “science” of business growth.
The purpose of this article is to share with you some of what we have found.
The Rajasthan government has proposals to amend the Industrial Disputes Act (IDA), raising the threshold for state permission to fire workers from 100 to 300. It also wants changes to the Contract Labour Act (CLA) and Factories Act. Trade unions aren’t happy. There is too much generalization on labour “laws” and the expression needs pinning down. Under Article 246 of the Constitution, the Seventh Schedule sets out a Union List, a State List and a Concurrent List. Consider Entry 55 in the Union List. This concerns “regulation of labour and safety in mines and oilfields”. Similarly, Entry 61 in the List is about “industrial disputes concerning Union employees”.
The Narendra Modi government has cleared seven big-ticket investment projects worth Rs.
21,000 crore, some of whom have been held up for decades, because of hurdles ranging from environmental issues to financing problems.
The oldest among them, which has been on the drawing board for over 30 years, is a 235 kilometre railway line that is critical to tap Chhattisgarh's second largest iron ore reserves and ensure the survival of the Bhilai Steel Plant whose current iron ore sources are expected to run out in a few years.
The Iraq crisis leading to fears of disruption in oil supplies had a huge negative impact on the Indian economy with the Rupee coming under pressure against US dollar. While it could be a good news in short term for exporters, the prolonged problems in Iraq could dent the prospects of economic revival in India.
The rupee has hit a low of 60.16 against the US dollar with intensification of Iraqi crisis. The stock market has also come under pressure. Higher import costs could exert pressure on the raw material and hit the revival efforts of the new NDA government.
India will soon have eight new electronic manufacturing clusters as the new government gets going with its agenda of making India a hub for indigenous goods and reducing dependence on imports, telecom and law minister Ravi Shankar Prasad said at an industry event organised by The Economic Times in collaboration with AMCHAM. "Eight clusters for electronic manufacturing have been approved," Prasad said at an interaction between the government and the American Chamber of Commerce in India, Wednesday.
There is enough scope for utilities to ensure uninterrupted power supply without tariff shocks but consumers too need to do their bit by willing to pay for getting 24X7 service and actively help stop electricity theft, minister for power and coal Piyush Goyal told ToI in an interview on Wednesday.
Goyal, a chartered accountant and former investment banker, said every entity involved in the electricity chain — generators, transmission and distribution utilities as well as coal companies — have to improve their operations instead of covering inefficiencies by raising a debate over inadequate tariffs or absence of tariff revisions.
India's macroeconomic uncertainties remain a major concern for investors even as the country saw a 17% increase in foreign direct investment (FDI) to $28 billion in 2013, the United Nations Conference on Trade and Development (UNCTAD) has said in its latest World Investment Report.
"India experienced a 17% increase in FDI inflows in 2013... but macroeconomic uncertainties remain a major concern for investors. The opening up of multibrand retail in 2012 has not generated the results that were expected," the report released on Tuesday said.
India has slipped from the second most favoured investment destination in 2005 to fourth position in 2014. The country's ranking as a FDI recipient has, however, remained unchanged, at 14.
s
To improve the condition of micro, small and medium enterprises, the government is working on simplifying processes to facilitate such entrepreneurs and a separate policy for this sector is on the anvil.
"If work is done properly, effectively and on priority basis in this sector, then we can see that a person with minimum income can get employment. He can feel self-reliant," Union MSME Minister Kalraj Mishra told reporters here today.
He said the MSME ministry is encouraging small entrepreneurs by which they can stand strongly.
German Development Agency, GIZ along with the MSME Ministry and Small Industries Development Bank of India (SIDBI) is developing a range of support measures for MSMEs - both financial and non-financial.
Commissioned by German Federal Ministry for Economic Cooperation and Development (BMZ), the measures are being developed and delivered under the Umbrella programme for the promotion of micro, small and medium enterprises.
“At the policy level, GIZ is introducing internationally tested business promotion practices and project management techniques to help the ministry improve its policy processes. One aspect of the programme draws on German experiences in capacity development for small business associations. It is building networks of service providers specialised in meeting the needs of small businesses, thereby strengthening businesses' entrepreneurial and innovative capacities,” GIZ said.
After support to build websites, internet giant gears up for selling ad platform; expects to have same number of SME advertisers in India as it has globally
Google, which has one million small and medium enterprise (SME) advertisers globally, expects to soon bring the same number of advertisers on its platforms in India. In 2013, Google’s total advertisement revenue stood at $50.58 billion against overall revenue of $55 billion.
“Globally, Google has a more than 1 million advertisers who are small and medium businesses. India is critical for Google in terms of the number of merchants and SMEs,” said Kodukulla Suryanarayana, head of small and medium business at Google India.
Banks continue to insist on collateral from micro, small and medium enterprises (MSMEs) despite clear provisions for providing collateral-free loans to MSMEs of up to Rs 1 crore, even as the demand for raising the limit to Rs 5 crore has come up at RBI-sponsored town hall meetings with industry associations, Knowledge & News Network - a media platform for MSMEs - reported in its latest fortnightly e-newsletter.
RBI officials recently met officials of the Federation of Indian Micro, Small and Medium Enterprises (FISME) and public and private sector banks to discuss issues faced by MSMEs with banks.
Crisil has analysed the performance of 5,890 micro, small, and medium enterprises (MSMEs) across India from 2010-11 to 2012-13 (refers to the financial year April 1 to March 31). The analysis reveals that the average sales of these CRISIL-rated enterprises grew to Rs 2,243.43 lakh in 2012-13, from Rs 1,506.83 lakh in 2010-11, at a compound annual growth rate (CAGR) of 22.02 per cent over this three-year period. This in turn was surpassed by the 32.87 per cent CAGR of the nearly 1,200 CRISIL-rated MSMEs in south India - i.e., Tamil Nadu, Kerala, Karnataka and Andhra Pradesh (including Telangana). Average MSME sales in these states grew to Rs 3,299.53 lakh in 2012-13, from Rs 1,882.83 lakh in 2010-11
The government is working on simplifying procedures related to obtain loans, raw material, marketing, labour laws, and acquiring approvals through a single-window clearance mechanism to encourage participation of small entrepreneurs in the MSME sector.
"As has been advised by the Prime Minister (Narendra Modi), we will put in place a single-window clearance mechanism for the MSMEs and make all efforts to address the significant issues of raw material, marketing, capital and others in a specific timeframe," Union MSME Minister Kalraj Mishra today said here at an Assocham conference.
Union Minister for MSMEs, Kalraj Mishra has applauded the efforts of the National Small Industries Corporation (NSIC) that provides training in more than 200 manufacturing trades, for its Rapid Incubation programme, that creates opportunities for self-employment.
“Rapid incubation programme of NSIC is the right step in transforming unemployment to self-employment by providing support services to unemployed and unskilled persons including training on machines/projects, helping in preparation of project reports, seeking government approvals, facilitating credit from financial institutions, sourcing of technology and providing market support including raw material sourcing etc,”
Arundhati Bhattacharya, chairman and managing director, State Bank of India says the Finance Minister Arun Jaitley should announce such a Budegt on July 10 that leads to tremendous amount of job creation. Speaking to CNBC-TV18, Bhattacharya says job creation is one mean to ensure the economy starts moving and this growth will help both public as well as private banks. One of the sector that can generate lot of employment, she says, is the medium and small enterprises (MSMEs). “However, the sector is plagued by lack of capital and an inability to receive payments on time. So, if the FM can address these issues, it could help revive the economy,” she further adds.
The National Institute for Entrepreneurship and Small Business Development (Niesbud), an autonomous organisation under the Union ministry of micro, small and medium enterprises, has announced the opening of a coaching, mentoring and consultancy cell for entrepreneurs. The objective of the cell is to help and guide both prospective and existing entrepreneurs.
Consultancy and guidance will be provided in six areas: Idea generation, planning, formulation and implementation; financial challenges and solutions; marketing of both new and existing ventures; human resource challenges (hiring, recruitment, training, retrenchment, motivation); expansion of ventures; and strategic planning and intervention.
Odisha government has proposed to introduce a new set of incentives in the form of an Export Development Assistance Scheme (EDAS) be floated on the lines of Market Development Assistance (MDA) of the Central Government to improve its export share in the country.
Towards this, the state government will launch Exporters Card on the lines of Green Card to provide passage of consignment at the government check gates on priority basis.
The Exporters Card will be issued to only select firms which are 100 per cent export oriented units, those designated as export houses, star export house and premier trading house as per the Directorate General of Foreign Trade (DGFT), it said.
West Bengal government has set up around 152 micro, small and medium enterprise (MSME) clusters in the state to generate over four lakh jobs, according to Chief Minister Mamata Banerjee.
“Over the three years of our government, more than 35,000 new units in the sector of MSME had been set up in West Bengal, providing employment to almost 3,20,000 people,” she said on Sunday.
Karnataka Small Scale Industries Association (KASSIA) has set up a help desk on commercial taxes here to help small scale entrepreneurs deal with tax-related issues.
The move is certainly timely, as getting commercial tax-related queries clarified is a regular source of nuisance for small scale entrepreneurs since many of them have hardly any appropriate manpower support staff and also because of lackadaisical response of the tax officials, KASSIA send in a statement today.
On the need for such a facility, President KASSIA, Chidananda M Rajamane said, “Responding to the concerns of the small scale entrepreneurs the Karnataka Small Scale Industries Association (KASSIA) has opened a Help Desk on Commercial Taxes to help sort out their tax-related issues.”
The Karnataka Government will spend Rs 100 crore each on 10 tier-two cities like Mysore, Mangalore, Belgaum and Gulbarga for upgrading urban infrastructure with the help of the municipal bodies. In all, Rs 1,000 crore will be spent on the initiative.
The Urban Development Department, Government of Karnataka intends to take up Nagarothana Phase-3 project for upgradation of urban infrastructure and civic amenities in Mysore, Mangalore, Davanagere, Hubli-Dharwad, Belgaum, Gulbarga, Bellary, Tumkur, Shimoga and Bijapur City Corporation at a cost of Rs 100 crore for each corporation", the state Directorate of Municipal Administration said in a press notification today.
Pharma sector, which has trade potential of $1.63 billion between India and Pakistan, can be an ideal area to improve bilateral relations, says a study by economic think-tank Icrier.
Allaying apprehensions among small players in Pakistan over the influx of drugs from India, it said the competition will eventually lead to survival of best quality pharma items in that country.
"Consultations with stakeholders on both sides have revealed that pharmaceutical firms realise the possibility of huge benefits from increased trade and investment," said the Icrier working paper - India-Pakistan Trade: An Analysis of the Pharmaceutical Sector'.
Afghanistan is keen on opening the Chabahar port in Iran for transit to India, bypassing Pakistan, and is expecting a trilateral agreement to be signed soon.
The Chabahar port in Iran is likely to significantly boost the trade volume between India and Afghanistan by providing a shorter route for transporting goods between the two countries.
Besides, the port will help India obtain a direct access to Central Asia and facilitate import of minerals from Afghanistan. "We are expecting an alternative trade route to Afghanistan which will be sustainable and long term, that is the Chabahar port.
India-Bangladesh trade could double to USD 10 billion by 2018, provided trading irritants like non-tariff barriers and infrastructure related issues are resolved, said an industry body.
Commenting on visit of External Affairs Minister, Sushma Swaraj to Bangladesh, Director General, Confederation of Indian Industry, (CII) Chandrajit Banerjee feels that economic cooperation will get a boost and further intensify trade and Investment between the two countries.
“Two-way trade between India and Bangladesh stood at USD 6.6 billion in 2013-14 with India’s exports at USD 6.1 billion and imports from Bangladesh at USD 462 million. This represents more than double the value of USD 2.7 billion five years ago. However, the trade imbalance in favour of India and decline in Bangladesh exports to India are of concern. Skewed trade could be redressed with greater investment participation of Indian companies in Bangladesh,” it said.
Even as the new government of Prime Minister Narendra Modi has made known its intention to review the impact of different free trade agreements on the Indian industry, India has agreed to explore another such pact with Russia.
The two countries have agreed to set up a joint study group to look at the feasibility of a free trade agreement between India, the Customs Union of Russia, Belarus and Kazakhstan. This was agreed at the meeting between visiting Russian Deputy Prime Minister Dmitry O Rogozin and External Affairs Minister Sushma Swaraj here yesterday.
Prime Minister Modi will take tough measures to reign in inflation and budget deficit in the forthcoming Union Budget
According to the FISME Factor, 63 per cent of the Micro, Small and Medium Enterprises (MSMEs), think that Prime Minister Narendra Modi will cut expenditure, disinvest as well as increase taxes to reign in inflation and budget in the forthcoming Union budget.
HR leaders must evolve to tackle talent crunch: ManpowerGroup
Human resource leaders need to evolve themselves in three critical ways like becoming supply and demand experts, marketers and designers, to tackle talent shortages, a ManpowerGroup report says.
Workforce solutions major ManpowerGroup identified three distinct roles human resources (HR) leaders must play to ensure talent sustainability for their organisations.
"Macroeconomic forces continue to decrease margins, creating a need for organisations to do more with less and to have a workforce that is more agile and productive," ManpowerGroup CEO Jonas Prising said.
5 Things to consider while choosing financial planner
In process of searching the right advisor, you also need to clench to areas, where you seek help. Only then, will you be able to determine the skills and expertise of your advisor, thereby examining the right and suitable candidate before hiring. Let us now explore the criteria you may use to do this.
What is the first image that comes to your mind when you think of a financial advisor? A stressed person completely occupied with his phone and PC, buying and selling orders, and trying to make as much money as possible for his present as well as potential clients.
Everything is out to be tried. A new kind of try-marketing is out here where everyone is bending backwards to offer trials. Is this is a new marketing ploy?
Revathi, this is all about brands wanting to get tactile with their consumers. The idea is a simple one. The best way to sell anything to anyone is to show them the brand. The next thing the consumer wants to do is touch the brand. The third thing would be to use the brand and check it out for its delivery claims.
In many cases, the price of the product is prohibitive to allow a trial without purchase, which means low trials and low buys. Marketers circumvent this by offering the free trial.
Delhi automobile service stations face closure threat
Thousands of small automobile servicing units doing washing, servicing, denting and painting of automobiles in non-conforming areas of Delhi face uncertain future following a direction from the National Green Tribunal (NGT) for their enumeration by the state pollution control body.
Following this direction, the Delhi Pollution Control Committee has directed all automobile servicing units to seek consent of the DPCC for running their operations under the Water (Prevention and Control of Pollution) Act, 1974.
Chandigarh start-up offers high-tech home health care
With her son and other relatives living in the United States, it was a nightmare for Amarjit Kaur - based in Mohali, near Chandigarh - to ensure proper health care for her 80-year-old husband. A brain haemorrhage and heart surgery in the last six months had left him weak, and repetitive hospitalisation had added to the misery. That's when her son came to know of Chandigarh-based Carepur Services (P) Ltd, one of north India's fastest-growing home health care and personal wellness services, which takes care of her husband nowadays.
The company, which provides pre- and post-hospitalisation care at home and assisted living for the elderly, serves patients in Chandigarh, Punjab and Himachal Pradesh through its high-tech care model by putting the entire health profile online so that 'sponsors' (those who pay for a patient's care) can track it on a real time basis.
How a ‘Child of the streets’ became an International Bestselling Author
Amin Sheikh, a former street child turned entrepreneur, has a stunning success story to tell. So he wrote a book to tell the world that story. His autobiography, “Life is Life, I am Because of You” is a miracle book. Not only is it a smash hit around the world, but strangers from different parts of the world are championing it in any way they can. Though he is basking under all the adoration, his reasons for wanting to be successful are selfless. He wants to open a cafe cum library in the heart of Mumbai.
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.
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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This Newsletter is edited by the FISME Secretariat. We welcome contributions as well as comments and suggestions. Please write to newsletter@fisme.org.in
"
Both government and associations are busy pondering over problems and challenges faced by MSMEs. Hopefully, solutions to some of the problems would emerge. I feel emphasis is also required in equal measure on how MSMEs could exploit opportunities. There is a need to try out new models of marketing as scale of our MSME units is small and their number large. I think it is time we studied, experimented and tried out different models of collective marketing. "
Two of India’s largest bodies have come together to bring thousands of micro and small enterprises (MSMEs) on board of e-market place.
Flipkart and Federation of Indian Micro and Small & Medium Enterprises (FISME) have entered into an understanding through which they will jointly train and equip MSMEs in clusters to be e-marketplace ready and then Flipkart will provide access to its e-market platform. FISME is a network of over 740 MSME associations spread all over the country.
“In the first phase, 50,000 MSMEs will be targeted to be on board Flipkart ”, said Anil Bhardwaj Secretary General of FISME.
Department of Electronic & Information Technology (Deity) along with FISME organized an Interactive session on IPRs on Wednesday 18th June 2014 at Department of Electronics & Information Technology (DeitY), Ministry of Communications & Information Technology, Electronics Niketan, 6, CGO Complex, New Delhi covering Service cum Manufacturing sectors. The programme was attended by senior Executives from SMEs, IP professionals.
The programme showcased IP Panorama, an e-learning modules, an initiative of Department of Electronics and Information Technologies (Deity), Government of India, in collaboration with World Intellectual Property Organization (WIPO) with an aim to address various aspects of intellectual property and related issues in Indian scenario.
A delegation from Nottingham City Council visited FISME secretariat on 19th June 2014. The delegation led by Mr. David Bishop, Corporate Director-Development, Nottingham City Council and Mr. Chris Henning, Director for Economic Development, Nottingham City Council, were keen to develop a Trading Platform between Nottingham and India which will help Nottingham eventually help any business from India not just in Nottingham but also to expand throughout UK and Europe with the help of City’s other initiatives.
Nottingham, one of the eight “core cities” of Britain outside London with a large number of big corporates in transport, aerospace and clean technology, wants to ambitiously engage with India. Significantly, the city which has access to 90 per cent of British population within two hours of journey would like Indian SMEs to become part of the supply chain of the global companies located in and around Nottingham.
The Rajasthan government has proposals to amend the Industrial Disputes Act (IDA), raising the threshold for state permission to fire workers from 100 to 300. It also wants changes to the Contract Labour Act (CLA) and Factories Act. Trade unions aren’t happy. There is too much generalization on labour “laws” and the expression needs pinning down. Under Article 246 of the Constitution, the Seventh Schedule sets out a Union List, a State List and a Concurrent List. Consider Entry 55 in the Union List. This concerns “regulation of labour and safety in mines and oilfields”. Similarly, Entry 61 in the List is about “industrial disputes concerning Union employees”.
The Narendra Modi government has cleared seven big-ticket investment projects worth Rs.
21,000 crore, some of whom have been held up for decades, because of hurdles ranging from environmental issues to financing problems.
The oldest among them, which has been on the drawing board for over 30 years, is a 235 kilometre railway line that is critical to tap Chhattisgarh's second largest iron ore reserves and ensure the survival of the Bhilai Steel Plant whose current iron ore sources are expected to run out in a few years.
The Iraq crisis leading to fears of disruption in oil supplies had a huge negative impact on the Indian economy with the Rupee coming under pressure against US dollar. While it could be a good news in short term for exporters, the prolonged problems in Iraq could dent the prospects of economic revival in India.
The rupee has hit a low of 60.16 against the US dollar with intensification of Iraqi crisis. The stock market has also come under pressure. Higher import costs could exert pressure on the raw material and hit the revival efforts of the new NDA government.
India will soon have eight new electronic manufacturing clusters as the new government gets going with its agenda of making India a hub for indigenous goods and reducing dependence on imports, telecom and law minister Ravi Shankar Prasad said at an industry event organised by The Economic Times in collaboration with AMCHAM. "Eight clusters for electronic manufacturing have been approved," Prasad said at an interaction between the government and the American Chamber of Commerce in India, Wednesday.
There is enough scope for utilities to ensure uninterrupted power supply without tariff shocks but consumers too need to do their bit by willing to pay for getting 24X7 service and actively help stop electricity theft, minister for power and coal Piyush Goyal told ToI in an interview on Wednesday.
Goyal, a chartered accountant and former investment banker, said every entity involved in the electricity chain — generators, transmission and distribution utilities as well as coal companies — have to improve their operations instead of covering inefficiencies by raising a debate over inadequate tariffs or absence of tariff revisions.
India's macroeconomic uncertainties remain a major concern for investors even as the country saw a 17% increase in foreign direct investment (FDI) to $28 billion in 2013, the United Nations Conference on Trade and Development (UNCTAD) has said in its latest World Investment Report.
"India experienced a 17% increase in FDI inflows in 2013... but macroeconomic uncertainties remain a major concern for investors. The opening up of multibrand retail in 2012 has not generated the results that were expected," the report released on Tuesday said.
India has slipped from the second most favoured investment destination in 2005 to fourth position in 2014. The country's ranking as a FDI recipient has, however, remained unchanged, at 14.
s
German Development Agency, GIZ along with the MSME Ministry and Small Industries Development Bank of India (SIDBI) is developing a range of support measures for MSMEs - both financial and non-financial.
Commissioned by German Federal Ministry for Economic Cooperation and Development (BMZ), the measures are being developed and delivered under the Umbrella programme for the promotion of micro, small and medium enterprises.
“At the policy level, GIZ is introducing internationally tested business promotion practices and project management techniques to help the ministry improve its policy processes. One aspect of the programme draws on German experiences in capacity development for small business associations. It is building networks of service providers specialised in meeting the needs of small businesses, thereby strengthening businesses' entrepreneurial and innovative capacities,” GIZ said.
After support to build websites, internet giant gears up for selling ad platform; expects to have same number of SME advertisers in India as it has globally
Google, which has one million small and medium enterprise (SME) advertisers globally, expects to soon bring the same number of advertisers on its platforms in India. In 2013, Google’s total advertisement revenue stood at $50.58 billion against overall revenue of $55 billion.
“Globally, Google has a more than 1 million advertisers who are small and medium businesses. India is critical for Google in terms of the number of merchants and SMEs,” said Kodukulla Suryanarayana, head of small and medium business at Google India.
Banks continue to insist on collateral from micro, small and medium enterprises (MSMEs) despite clear provisions for providing collateral-free loans to MSMEs of up to Rs 1 crore, even as the demand for raising the limit to Rs 5 crore has come up at RBI-sponsored town hall meetings with industry associations, Knowledge & News Network - a media platform for MSMEs - reported in its latest fortnightly e-newsletter.
RBI officials recently met officials of the Federation of Indian Micro, Small and Medium Enterprises (FISME) and public and private sector banks to discuss issues faced by MSMEs with banks.
Odisha government has proposed to introduce a new set of incentives in the form of an Export Development Assistance Scheme (EDAS) be floated on the lines of Market Development Assistance (MDA) of the Central Government to improve its export share in the country.
Towards this, the state government will launch Exporters Card on the lines of Green Card to provide passage of consignment at the government check gates on priority basis.
The Exporters Card will be issued to only select firms which are 100 per cent export oriented units, those designated as export houses, star export house and premier trading house as per the Directorate General of Foreign Trade (DGFT), it said.
West Bengal government has set up around 152 micro, small and medium enterprise (MSME) clusters in the state to generate over four lakh jobs, according to Chief Minister Mamata Banerjee.
“Over the three years of our government, more than 35,000 new units in the sector of MSME had been set up in West Bengal, providing employment to almost 3,20,000 people,” she said on Sunday.
Karnataka Small Scale Industries Association (KASSIA) has set up a help desk on commercial taxes here to help small scale entrepreneurs deal with tax-related issues.
The move is certainly timely, as getting commercial tax-related queries clarified is a regular source of nuisance for small scale entrepreneurs since many of them have hardly any appropriate manpower support staff and also because of lackadaisical response of the tax officials, KASSIA send in a statement today.
On the need for such a facility, President KASSIA, Chidananda M Rajamane said, “Responding to the concerns of the small scale entrepreneurs the Karnataka Small Scale Industries Association (KASSIA) has opened a Help Desk on Commercial Taxes to help sort out their tax-related issues.”
The Karnataka Government will spend Rs 100 crore each on 10 tier-two cities like Mysore, Mangalore, Belgaum and Gulbarga for upgrading urban infrastructure with the help of the municipal bodies. In all, Rs 1,000 crore will be spent on the initiative.
The Urban Development Department, Government of Karnataka intends to take up Nagarothana Phase-3 project for upgradation of urban infrastructure and civic amenities in Mysore, Mangalore, Davanagere, Hubli-Dharwad, Belgaum, Gulbarga, Bellary, Tumkur, Shimoga and Bijapur City Corporation at a cost of Rs 100 crore for each corporation", the state Directorate of Municipal Administration said in a press notification today.
Pharma sector, which has trade potential of $1.63 billion between India and Pakistan, can be an ideal area to improve bilateral relations, says a study by economic think-tank Icrier.
Allaying apprehensions among small players in Pakistan over the influx of drugs from India, it said the competition will eventually lead to survival of best quality pharma items in that country.
"Consultations with stakeholders on both sides have revealed that pharmaceutical firms realise the possibility of huge benefits from increased trade and investment," said the Icrier working paper - India-Pakistan Trade: An Analysis of the Pharmaceutical Sector'.
Afghanistan is keen on opening the Chabahar port in Iran for transit to India, bypassing Pakistan, and is expecting a trilateral agreement to be signed soon.
The Chabahar port in Iran is likely to significantly boost the trade volume between India and Afghanistan by providing a shorter route for transporting goods between the two countries.
Besides, the port will help India obtain a direct access to Central Asia and facilitate import of minerals from Afghanistan. "We are expecting an alternative trade route to Afghanistan which will be sustainable and long term, that is the Chabahar port.
India-Bangladesh trade could double to USD 10 billion by 2018, provided trading irritants like non-tariff barriers and infrastructure related issues are resolved, said an industry body.
Commenting on visit of External Affairs Minister, Sushma Swaraj to Bangladesh, Director General, Confederation of Indian Industry, (CII) Chandrajit Banerjee feels that economic cooperation will get a boost and further intensify trade and Investment between the two countries.
“Two-way trade between India and Bangladesh stood at USD 6.6 billion in 2013-14 with India’s exports at USD 6.1 billion and imports from Bangladesh at USD 462 million. This represents more than double the value of USD 2.7 billion five years ago. However, the trade imbalance in favour of India and decline in Bangladesh exports to India are of concern. Skewed trade could be redressed with greater investment participation of Indian companies in Bangladesh,” it said.
Even as the new government of Prime Minister Narendra Modi has made known its intention to review the impact of different free trade agreements on the Indian industry, India has agreed to explore another such pact with Russia.
The two countries have agreed to set up a joint study group to look at the feasibility of a free trade agreement between India, the Customs Union of Russia, Belarus and Kazakhstan. This was agreed at the meeting between visiting Russian Deputy Prime Minister Dmitry O Rogozin and External Affairs Minister Sushma Swaraj here yesterday.
According to the FISME Factor, 63 per cent of the Micro, Small and Medium Enterprises (MSMEs), think that Prime Minister Narendra Modi will cut expenditure, disinvest as well as increase taxes to reign in inflation and budget in the forthcoming Union budget.
Human resource leaders need to evolve themselves in three critical ways like becoming supply and demand experts, marketers and designers, to tackle talent shortages, a ManpowerGroup report says.
Workforce solutions major ManpowerGroup identified three distinct roles human resources (HR) leaders must play to ensure talent sustainability for their organisations.
"Macroeconomic forces continue to decrease margins, creating a need for organisations to do more with less and to have a workforce that is more agile and productive," ManpowerGroup CEO Jonas Prising said.
In process of searching the right advisor, you also need to clench to areas, where you seek help. Only then, will you be able to determine the skills and expertise of your advisor, thereby examining the right and suitable candidate before hiring. Let us now explore the criteria you may use to do this.
What is the first image that comes to your mind when you think of a financial advisor? A stressed person completely occupied with his phone and PC, buying and selling orders, and trying to make as much money as possible for his present as well as potential clients.
Everything is out to be tried. A new kind of try-marketing is out here where everyone is bending backwards to offer trials. Is this is a new marketing ploy?
Revathi, this is all about brands wanting to get tactile with their consumers. The idea is a simple one. The best way to sell anything to anyone is to show them the brand. The next thing the consumer wants to do is touch the brand. The third thing would be to use the brand and check it out for its delivery claims.
In many cases, the price of the product is prohibitive to allow a trial without purchase, which means low trials and low buys. Marketers circumvent this by offering the free trial.
Thousands of small automobile servicing units doing washing, servicing, denting and painting of automobiles in non-conforming areas of Delhi face uncertain future following a direction from the National Green Tribunal (NGT) for their enumeration by the state pollution control body.
Following this direction, the Delhi Pollution Control Committee has directed all automobile servicing units to seek consent of the DPCC for running their operations under the Water (Prevention and Control of Pollution) Act, 1974.
With her son and other relatives living in the United States, it was a nightmare for Amarjit Kaur - based in Mohali, near Chandigarh - to ensure proper health care for her 80-year-old husband. A brain haemorrhage and heart surgery in the last six months had left him weak, and repetitive hospitalisation had added to the misery. That's when her son came to know of Chandigarh-based Carepur Services (P) Ltd, one of north India's fastest-growing home health care and personal wellness services, which takes care of her husband nowadays.
The company, which provides pre- and post-hospitalisation care at home and assisted living for the elderly, serves patients in Chandigarh, Punjab and Himachal Pradesh through its high-tech care model by putting the entire health profile online so that 'sponsors' (those who pay for a patient's care) can track it on a real time basis.
Amin Sheikh, a former street child turned entrepreneur, has a stunning success story to tell. So he wrote a book to tell the world that story. His autobiography, “Life is Life, I am Because of You” is a miracle book. Not only is it a smash hit around the world, but strangers from different parts of the world are championing it in any way they can. Though he is basking under all the adoration, his reasons for wanting to be successful are selfless. He wants to open a cafe cum library in the heart of Mumbai.
" I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” " 
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