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President's Message
" At the outset I am extremely grateful to my colleagues in the Central Executive Committee for reposing faith in me in re-electing me FISME President for 2016-17. While this allows me to take the initiatives we started an year ago to their logical end viz. in the area of Public Procurement including Defence and institutionalizing support for Delayed Payments, it also brings yet another opportunity to break new grounds to facilitate and support MSMEs. As the Public Procurement Policy- which stipulated 20% mandatory procurement by Central Govt. agencies/ PSUs from MSEs, came into force form 1st April 2015, it would be necessary to review the performance of the policy, draw lessons and effect course correction wherever necessary. FISME will continue to focus on the issue. Access to alternative sources of funds and exploring new markets like Myanmar and Iran will be another spheres of focus during the next year. I am confident that I would continue to enjoy the trust of colleagues and cooperation from the MSME associations as during past one year.
"
The Central Executive Committee of Federation of Indian Micro and Small & Medium Enterprises (FISME) has unanimously re-elected Dr. Sangam Kurade as President for the year 2016-17 during the executive meeting held in New Delhi on Tuesday.
A reputed food technologist and the promoter of a successful business unit based in Goa- Zuari Foods and Farms Pvt Ltd, Dr. Kurade is President, FISME since 2015.
A PhD in Food Technology from the University of Tennessee, USA, Dr. Kurade is a frontline innovator in agri-food industry, particularly in farming exotic varieties of mushrooms.
Holding down a day job means having only so many waking hours to devote to your side venture. That’s why validating that your idea will work—and that people will pay for it—should be priority No. 1, says Shara Senderoff, co-founder and CEO of Career Sushi, an online marketplace that connects young professionals with employers.
The wholesale price index (WPI)-based inflation fell for the 16th straight month in February, dropping to -0.91% compared to -0.90% in January.
While it was way back in 1975-76 that there was WPI-based deflation for a full year, the index had last showed inflation in October 2014, at 1.66%.
Government data released on Monday showed that a total build up in the inflation for the current financial year leading up to February was -1.19% compared to a -2.61% fall in the corresponding period of the previous year.
With more than 977 companies and 46 countries registering for the upcoming Defence Expo scheduled in Goa, the Defence Ministry has said the event is steering the path of steady growth. "Defexpo India 2016, the ninth in the series of biennial Land, Naval and Internal Homeland Security Systems Exhibition, will be held at Naqueri Quitol in Quepem taluka of South Goa from March 28-31, 2016," the Ministry said on its website designed for this internationally famed event. "Defexpo India is clearly steering the path of steady growth and has been receiving overwhelming and unprecedented international response with each edition," it said.
A five-fold hike has been made by the government in its Budget for funding start-up s in the next fiscal, a move which is in line with Prime Minister Narendra Modi's ambitious 'Start-Up India' initiative. According to Ashutosh Sharma, Secretary, Department of Science and Technology (DST), in the 2016-17 financial year, it will provide seed capital to 50-80 new ventures with funding ranging from Rs 50 lakh to Rs 1 crore per company. For the next fiscal year, the government has increased the overall funding to startup s from Rs 40 crore to Rs 200 crore, he said.
ADB President Takehiko Nakao has pitched for the roll out of the Goods and Services Tax saying that its introduction will integrate India as “truly one single economy” and help attract more foreign investments.
Lauding the Budget 2016-17 proposals on the farm sector, he also stressed upon the need for more reforms and pushing infrastructure development.
ADB chief in an interview to PTI further said that the growth in India will continue to exceed seven per cent in the coming years while other global and Asian economies will undergo some kind of adjustment.
“We are now expecting that economy will continue to exceed seven per cent in fiscal year 2016-17 and 2017-18 and we are now looking at the number again. The global economy and the Asian economy as a whole are in some form of adjustment,” he said.
This year's Finance Bill has a proposal for giving retrospective effect to the amendment of a notification granting a tax rebate on services used for export after clearance of goods from the place of removal.
The Bill also proposes to remove from the negative list any services by way of transportation of goods by an aircraft or a vessel from a place outside India up to the Customs station of clearance here. These changes will have implications for both exporters and importers.
Government has decided to relax the norms for Startup MSMEs. According to the decision, if the MSMEs can deliver the goods and services as per prescribed technical & quality specifications, the norms on prior experience and prior turnover will be relaxed for them.
“This will help the Startup MSMEs to take part in the mandatory 20% public procurement from MSMEs. The relaxation has been made to create a conducive environment for the startups in India, which is high on the agenda of the Government,” the Ministry said in a press release.
To ensure better implementation of Quality Management Standars/Quality Technology Tools scheme under the National Manufacturing Competitiveness Programme of the Government, Ministry has decided to conduct two International Study Missions in colloboration with Confederation of Indian Industry and Consultancy Development Corporation during this year as well as in the next financial year.
Union Minister for MSME, Kalraj Mishra has said that 2016-17 will be a development year for micro small and medium units with emphasis on job creation. Towards this, his ministry has prepared a time bound action plan for utilising the allocation of Rs 3,000 crore to his ministry and implementation of major schemes which include PMEGP, SFRUTI, ASPIRE, etc.
Briefing the media about the roadmap and budget allocation of MSME Ministry here on Tuesday, the Minister said that under PMEGP a sum of Rs.1,139 crore will be utilized during 2016-17 to assist 55,000 projects with margin money. This will generate employment for more than 4, 25,000 persons, according to an official release.
India will operationalise single window customs clearance from April 1 and allow deferred payments to importers as part of a trade facilitation pact of the World Trade Organisation.
“The Central Board of Excise and Customs (CBEC) is already working on a pilot for single window customs clearance at 13 air and sea ports in the country. We hope to roll it out from April 1 and we will gradually expand it to all ports,” said Najib Shah, Chairman, CBEC.
Finance Minister Arun Jaitley had in the Budget proposed to amend the Customs Act to provide for deferred payment of customs duties for importers and exporters with proven track record as well as implement the Indian Customs Single Window Project.
IL&FS (Industrial Leasing and Financial Services) plans to launch an e-platform to bring multiple SME s together and link them with financing agencies, financial advisors and technology and marketing consultants. Besides, the platform 'Enterprise Development Services' will also allow the SME s to connect with tax and legal advisors, IL&FS Group said in a circular to Tirupur Exporters' Association (TEA). An SME would be able to access services as per its requirement, pick, choose and pay, it said.
According to the findings of the Inshorts Youth of the Nation Poll, 68% Indians would prefer to work with a startup than a large corporation in 2016. The poll was conducted on the Inshorts Android app from 26th January to 2nd February 2016, wherein more than 1,40,000 respondents contributed more than 10 lakh responses to 30 questions that dominated headlines in 2015. All questions had three options - 'yes', 'no' and 'not informed enough’.
The Haryana government on Tuesday released its solar power policy, which aims to add 4,000 megawatt (Mw) of solar power by 2022. The policy unveiled on the last day of Happening Haryana Global Investors Summit aims to promote generation of green and clean power through a conducive atmosphere for the investors.
To give boost to the solar energy sector, incentives such as industrial status, electricity duty exemption, banking facility, cross-subsidy charges, etc have been provided in the policy.
Aiming to attract over Rs 2,000 crore investment every year, the Jammu and Kashmir government on Monday approved a new industrial policy for the next ten years.
"The State Administrative Council, which met here today under the chairmanship of Governor N N Vohra, approved the Industrial Policy-2016 formulated by the industries and commerce department," an official spokesman said.
He said the policy will remain effective up to March 31, 2026.
Jharkhand Chief Minister Raghubar Das has announced to come up with a separate policy for MSMEs along with major incentives for the mega projects in the state. The industry has welcomed the move and said it is their long pending demand.
Talking to KNN, the Secretary of Jharkhand Small Industries Association (JSIA) Deepak Kumar said that the state government had promised it and even the central government had assured for a new separate MSME policy in Jharkhand.
“We face problem in getting subsidy and incentives as the same subsidies are needed by the big and small industries both due to which the SMEs end up getting just a small part,” he added.
Announcing plans to set up 38,000 MSME units providing about one lakh jobs in Odisha, Chief Minister Naveen Patnaik today said industrialisation must be participatory and it should ensure inclusive growth of all sections of the society.
"It is proposed to take up new initiatives for growth of MSME sector. These include steps to set up 38,000 MSME units with employment of about one lakh persons," Patnaik said at the launch of 12th Entrepreneurs' Week which commemorates the Birth Centenary of legendary Biju Patnaik.
India's tea exports to Pakistan rose by 60 per cent to Rs 160.82 crore in the first 10 months of the current fiscal.
The overall outward shipments of tea, on the other hand, surged by just 11 per cent to Rs 3,597.41 crore.
Tea exports to the neighbouring nation stood at Rs 100.61 crore in the year-ago period. India is the world's second biggest tea producer and also one of the largest consumers. The country exports CTC (crush- tear-curl) grade tea to countries like Egypt, the UK, and other traditional varieties to Iraq, Iran and Russia.
India has emerged as the second biggest investor in London after the US with country's tech firms investing in the British capital at an unprecedented rate, according to latest official figures.
Since 2005 there has been a 117 per cent increase in Indian companies across all business sectors investing in London, with a 133 per cent increase in tech companies investing in the city, which accounts for 46 per cent of all projects, according to the latest data released by London & Partners, the official promotional company for London.
China on Thursday said it will not back India’s bid alone to join the Nuclear Suppliers Group as “other states” are also aspiring to join the elite 48-member club and asserted that any decision on the inclusion of new members will be based on “consensus”.
“Besides India, there are other non-NPT states who have expressed similar aspirations,” Chinese Foreign Ministry spokesman Hong Lei said, clubbing India along with Pakistan and other states who have not signed the Nuclear Non- proliferation Treaty (NPT).
He was responding to a query on Pakistan Prime Minister Nawaz Sharif’s Advisor on Foreign Affairs Sartaj Aziz’s recent comments in the Senate that China was helping Pakistan to stall India’s bid to get Nuclear Suppliers Group (NSG) membership.
Do you think Jaitley’s budget loses an opportunity to reboot the economy?
According to the FISME Factor, about 50 percent of Micro, Small and Medium Enterprises (MSMEs) think that the budget has lost an opportunity to reboot the economy while 38 percent think otherwise.
How to ensure the best minds in organization stay together
One of the major challenges for organizations is to retain their most productive and talented employees. There is no exact science around it since it's a combination of organizational, individual and emotional choices; however, there are ways to ensure that the best minds in your organization stay together and forever.
Simpler regime? Government plans to ease fund-raising by startups
The government is looking at a host of measures to ease fund-raising by startups as it plans to make the ecosystem more attractive for them. Sources said that the finance ministry is holding consultations with other agencies about rules related to wholly owned subsidiaries and joint ventures of companies investing back in India. A number of startups have opted to go overseas and create entities abroad to take advantage of the tax rules there, which they describe as more favourable.
Changing dynamics of B2B e-comm & its impact on SMEs
India’s B2B sector has never been as vibrant as it is today, thanks to the advent of e-commerce. Online marketplaces have made business-to-business buying and selling extremely easy, cost-effective and expeditious. Whether it is about sourcing supplies for their business or expanding their customer base, SME s on both sides of the spectrum are rejoicing at the steady growth they generate through these B2B marketplaces.
Startups, the many challenges women entrepreneurs face
Women entrepreneur s say the current start up friendly environment in the country will help to fight gender stereotyping and enable "risk-taking" and make them empowered. Sairee Chahal, founder and CEO of Sheroes, a portal which provides information for women job seekers recalls that she faced a lot of gender stereotyping in the initial days of her business. "I was faced with questions like can you do it? Gladly, things are changing and now, they can see me doing it," says Chahal.
Traditional textile artists want to market themselves as brands
Traditional hand weavers and textile printers, engaged in churning out a wealth of fabrics ranging from khadi to chanderi to kalamkari among others that take the shape of saris, dupattas and other garments, are now mulling marketing themselves as standalone brands.
At Kairi 2016, a 3-day exhibition here scores of pan-India traditional hand weavers and printers have brought the best of their products not only to sell but to market themselves as brands.
Gamezop co-founder is a 20-year old entrepreneur, youngest Indian on Forbes Asia 30 under 30
Gamezop co-founders, Yashash and Gaurav Agarwal, have been selected in Forbes Asia's 30 Under 30 list. The list recognizes the work of 300 individuals (30 in 10 categories) under the age of 30 from the Asia Pacific.
In addition, Yashash, at 20, is in the final semester of his Commerce degree at Shri Ram College of Commerce and the youngest amongst 56 Indians on the list, according to a press release.
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.
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" At the outset I am extremely grateful to my colleagues in the Central Executive Committee for reposing faith in me in re-electing me FISME President for 2016-17. While this allows me to take the initiatives we started an year ago to their logical end viz. in the area of Public Procurement including Defence and institutionalizing support for Delayed Payments, it also brings yet another opportunity to break new grounds to facilitate and support MSMEs. As the Public Procurement Policy- which stipulated 20% mandatory procurement by Central Govt. agencies/ PSUs from MSEs, came into force form 1st April 2015, it would be necessary to review the performance of the policy, draw lessons and effect course correction wherever necessary. FISME will continue to focus on the issue. Access to alternative sources of funds and exploring new markets like Myanmar and Iran will be another spheres of focus during the next year. I am confident that I would continue to enjoy the trust of colleagues and cooperation from the MSME associations as during past one year.
"
The Central Executive Committee of Federation of Indian Micro and Small & Medium Enterprises (FISME) has unanimously re-elected Dr. Sangam Kurade as President for the year 2016-17 during the executive meeting held in New Delhi on Tuesday.
A reputed food technologist and the promoter of a successful business unit based in Goa- Zuari Foods and Farms Pvt Ltd, Dr. Kurade is President, FISME since 2015.
A PhD in Food Technology from the University of Tennessee, USA, Dr. Kurade is a frontline innovator in agri-food industry, particularly in farming exotic varieties of mushrooms.
Holding down a day job means having only so many waking hours to devote to your side venture. That’s why validating that your idea will work—and that people will pay for it—should be priority No. 1, says Shara Senderoff, co-founder and CEO of Career Sushi, an online marketplace that connects young professionals with employers.
The wholesale price index (WPI)-based inflation fell for the 16th straight month in February, dropping to -0.91% compared to -0.90% in January.
While it was way back in 1975-76 that there was WPI-based deflation for a full year, the index had last showed inflation in October 2014, at 1.66%.
Government data released on Monday showed that a total build up in the inflation for the current financial year leading up to February was -1.19% compared to a -2.61% fall in the corresponding period of the previous year.
With more than 977 companies and 46 countries registering for the upcoming Defence Expo scheduled in Goa, the Defence Ministry has said the event is steering the path of steady growth. "Defexpo India 2016, the ninth in the series of biennial Land, Naval and Internal Homeland Security Systems Exhibition, will be held at Naqueri Quitol in Quepem taluka of South Goa from March 28-31, 2016," the Ministry said on its website designed for this internationally famed event. "Defexpo India is clearly steering the path of steady growth and has been receiving overwhelming and unprecedented international response with each edition," it said.
A five-fold hike has been made by the government in its Budget for funding start-up s in the next fiscal, a move which is in line with Prime Minister Narendra Modi's ambitious 'Start-Up India' initiative. According to Ashutosh Sharma, Secretary, Department of Science and Technology (DST), in the 2016-17 financial year, it will provide seed capital to 50-80 new ventures with funding ranging from Rs 50 lakh to Rs 1 crore per company. For the next fiscal year, the government has increased the overall funding to startup s from Rs 40 crore to Rs 200 crore, he said.
Government has decided to relax the norms for Startup MSMEs. According to the decision, if the MSMEs can deliver the goods and services as per prescribed technical & quality specifications, the norms on prior experience and prior turnover will be relaxed for them.
“This will help the Startup MSMEs to take part in the mandatory 20% public procurement from MSMEs. The relaxation has been made to create a conducive environment for the startups in India, which is high on the agenda of the Government,” the Ministry said in a press release.
To ensure better implementation of Quality Management Standars/Quality Technology Tools scheme under the National Manufacturing Competitiveness Programme of the Government, Ministry has decided to conduct two International Study Missions in colloboration with Confederation of Indian Industry and Consultancy Development Corporation during this year as well as in the next financial year.
Union Minister for MSME, Kalraj Mishra has said that 2016-17 will be a development year for micro small and medium units with emphasis on job creation. Towards this, his ministry has prepared a time bound action plan for utilising the allocation of Rs 3,000 crore to his ministry and implementation of major schemes which include PMEGP, SFRUTI, ASPIRE, etc.
Briefing the media about the roadmap and budget allocation of MSME Ministry here on Tuesday, the Minister said that under PMEGP a sum of Rs.1,139 crore will be utilized during 2016-17 to assist 55,000 projects with margin money. This will generate employment for more than 4, 25,000 persons, according to an official release.
India will operationalise single window customs clearance from April 1 and allow deferred payments to importers as part of a trade facilitation pact of the World Trade Organisation.
“The Central Board of Excise and Customs (CBEC) is already working on a pilot for single window customs clearance at 13 air and sea ports in the country. We hope to roll it out from April 1 and we will gradually expand it to all ports,” said Najib Shah, Chairman, CBEC.
Finance Minister Arun Jaitley had in the Budget proposed to amend the Customs Act to provide for deferred payment of customs duties for importers and exporters with proven track record as well as implement the Indian Customs Single Window Project.
According to the findings of the Inshorts Youth of the Nation Poll, 68% Indians would prefer to work with a startup than a large corporation in 2016. The poll was conducted on the Inshorts Android app from 26th January to 2nd February 2016, wherein more than 1,40,000 respondents contributed more than 10 lakh responses to 30 questions that dominated headlines in 2015. All questions had three options - 'yes', 'no' and 'not informed enough’.
The Haryana government on Tuesday released its solar power policy, which aims to add 4,000 megawatt (Mw) of solar power by 2022. The policy unveiled on the last day of Happening Haryana Global Investors Summit aims to promote generation of green and clean power through a conducive atmosphere for the investors.
To give boost to the solar energy sector, incentives such as industrial status, electricity duty exemption, banking facility, cross-subsidy charges, etc have been provided in the policy.
Aiming to attract over Rs 2,000 crore investment every year, the Jammu and Kashmir government on Monday approved a new industrial policy for the next ten years.
"The State Administrative Council, which met here today under the chairmanship of Governor N N Vohra, approved the Industrial Policy-2016 formulated by the industries and commerce department," an official spokesman said.
He said the policy will remain effective up to March 31, 2026.
Jharkhand Chief Minister Raghubar Das has announced to come up with a separate policy for MSMEs along with major incentives for the mega projects in the state. The industry has welcomed the move and said it is their long pending demand.
Talking to KNN, the Secretary of Jharkhand Small Industries Association (JSIA) Deepak Kumar said that the state government had promised it and even the central government had assured for a new separate MSME policy in Jharkhand.
“We face problem in getting subsidy and incentives as the same subsidies are needed by the big and small industries both due to which the SMEs end up getting just a small part,” he added.
Announcing plans to set up 38,000 MSME units providing about one lakh jobs in Odisha, Chief Minister Naveen Patnaik today said industrialisation must be participatory and it should ensure inclusive growth of all sections of the society.
"It is proposed to take up new initiatives for growth of MSME sector. These include steps to set up 38,000 MSME units with employment of about one lakh persons," Patnaik said at the launch of 12th Entrepreneurs' Week which commemorates the Birth Centenary of legendary Biju Patnaik.
India's tea exports to Pakistan rose by 60 per cent to Rs 160.82 crore in the first 10 months of the current fiscal.
The overall outward shipments of tea, on the other hand, surged by just 11 per cent to Rs 3,597.41 crore.
Tea exports to the neighbouring nation stood at Rs 100.61 crore in the year-ago period. India is the world's second biggest tea producer and also one of the largest consumers. The country exports CTC (crush- tear-curl) grade tea to countries like Egypt, the UK, and other traditional varieties to Iraq, Iran and Russia.
India has emerged as the second biggest investor in London after the US with country's tech firms investing in the British capital at an unprecedented rate, according to latest official figures.
Since 2005 there has been a 117 per cent increase in Indian companies across all business sectors investing in London, with a 133 per cent increase in tech companies investing in the city, which accounts for 46 per cent of all projects, according to the latest data released by London & Partners, the official promotional company for London.
China on Thursday said it will not back India’s bid alone to join the Nuclear Suppliers Group as “other states” are also aspiring to join the elite 48-member club and asserted that any decision on the inclusion of new members will be based on “consensus”.
“Besides India, there are other non-NPT states who have expressed similar aspirations,” Chinese Foreign Ministry spokesman Hong Lei said, clubbing India along with Pakistan and other states who have not signed the Nuclear Non- proliferation Treaty (NPT).
He was responding to a query on Pakistan Prime Minister Nawaz Sharif’s Advisor on Foreign Affairs Sartaj Aziz’s recent comments in the Senate that China was helping Pakistan to stall India’s bid to get Nuclear Suppliers Group (NSG) membership.
According to the FISME Factor, about 50 percent of Micro, Small and Medium Enterprises (MSMEs) think that the budget has lost an opportunity to reboot the economy while 38 percent think otherwise.
One of the major challenges for organizations is to retain their most productive and talented employees. There is no exact science around it since it's a combination of organizational, individual and emotional choices; however, there are ways to ensure that the best minds in your organization stay together and forever.
The government is looking at a host of measures to ease fund-raising by startups as it plans to make the ecosystem more attractive for them. Sources said that the finance ministry is holding consultations with other agencies about rules related to wholly owned subsidiaries and joint ventures of companies investing back in India. A number of startups have opted to go overseas and create entities abroad to take advantage of the tax rules there, which they describe as more favourable.
India’s B2B sector has never been as vibrant as it is today, thanks to the advent of e-commerce. Online marketplaces have made business-to-business buying and selling extremely easy, cost-effective and expeditious. Whether it is about sourcing supplies for their business or expanding their customer base, SME s on both sides of the spectrum are rejoicing at the steady growth they generate through these B2B marketplaces.
Women entrepreneur s say the current start up friendly environment in the country will help to fight gender stereotyping and enable "risk-taking" and make them empowered. Sairee Chahal, founder and CEO of Sheroes, a portal which provides information for women job seekers recalls that she faced a lot of gender stereotyping in the initial days of her business. "I was faced with questions like can you do it? Gladly, things are changing and now, they can see me doing it," says Chahal.
Traditional hand weavers and textile printers, engaged in churning out a wealth of fabrics ranging from khadi to chanderi to kalamkari among others that take the shape of saris, dupattas and other garments, are now mulling marketing themselves as standalone brands.
At Kairi 2016, a 3-day exhibition here scores of pan-India traditional hand weavers and printers have brought the best of their products not only to sell but to market themselves as brands.
Gamezop co-founders, Yashash and Gaurav Agarwal, have been selected in Forbes Asia's 30 Under 30 list. The list recognizes the work of 300 individuals (30 in 10 categories) under the age of 30 from the Asia Pacific.
In addition, Yashash, at 20, is in the final semester of his Commerce degree at Shri Ram College of Commerce and the youngest amongst 56 Indians on the list, according to a press release.
“ Even a correct decision is wrong when it was taken too late. ”
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.
