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Vol II, Issue 9: May 1, 2012 Activities   News   Members   Contact     Print Version  

President's Message

President-Mr V.K. Agarwal

"Technological obsolescence is one of the major causes of stagnation in manufacturing in India … an institutional mechanism will have to be devised to create interface between the R&D institutions and all possible sources of technology on one hand and the enterprises that need to adopt technology on the other hand."

- V.K. Agarwal, President FISME
(during Inauguration of FISME's IPFC at Delhi)
Advertise in this newsletter

SMEs Give Thumbs Up to RBI Rate Cut: FISME Survey

SMEs give the thumbs down to Budget: FISME survey

The FISME Factor survey asking MSMEs as to whether in their view the interest rate cut announced by the RBI on April 17, 2012 will lead to an improvement in the economic growth rate found that 69% of respondents believe that the rate cut will spur growth.

Dear Readers,
Recently there was a major goof up in the reporting of the Index of Industrial Production figures for January and the government has admitted that there is a need for overhaul of this leading economic indicator. Given the fact that MSMEs are the backbone of the economy and is its real engine of growth, there is a prima facie case for developing a separate Index of Industrial Production for registered MSMEs that may be called IIPM. Such an index will provide another leading indicator for assessing where the economy is headed. Such an IIPM would, among other things, help to estimate more accurately and reliably the impact of various policy measures on the output of the MSME sector. For example, what happens when the RBI hikes or brings down the basic interest rates? Good management requires reliable metrics and since nobody can quite afford to a weak spine, a good indicator to assess the health of the economy’s backbone seems absolutely essential. So Voice Your Views on this issue and share it with us!
Editor

SME Connect - Helping new age SMEs innovate and compete with cloud technology

Know more about Cloud Computing. Participate in FISME's SME Connect workshops being organised across the country in partnership with global software majorMicrosoft Inc. After the first workshop in Gurgaon and the second in Hyderabad, the third one will now be held in Ahmedabad sometime in May, 2012. Watchout out for our announcement of the date but book your seat now to interact with senior executives having in-depth knowledge of Cloud Computing for two hours (1800-2000 hrs) followed by dinner.

Contact:
Mukesh Kalra
+91–11–26187948, 46023157
mukesh.kalra@fisme.org.in

Policy Polemics

Sops to Indian SMEs needed to cut India-China trade gap


After a long discourse and a tortuous six-year process of negotiations, China has finally agreed to import Basmati Rice from India. This is an important and welcome move on the part of the Chinese. During his visit to India for the BRICS (Brazil, Russia, India, China and South Africa) summit earlier this year, Chinese president Mr Hu Jintao pushed the pending process of negotiations towards a positive conclusion.

Finance Fundamentals

Get cover for third party risks


Enterprises are exposed to several risks; one of these risks is third party claims because of organizational negligence. Whether run by owners themselves or by professional staff, risk of negligence always exists. Such claims can, however, be insured against through Liability Insurances. The insurance indemnifies against compensation awarded in court and the associated costs of defending the claim for damages caused due to bodily injury, advertising injury or property damage due to acts of omission or error by the insured, says Abhishek Bondia.

HR Heuristics

No one can make you feel inferior without your consent


" Recently a senior colleague and I were invited to jointly deliver a talk at a prestigious institute of technology. My colleague arrived a day earlier, and when I reached the visitor’s guest house, I noticed that I had been given an ordinary room, while she had been given an executive suite –a higher level room. I observed that I was somewhat disturbed. It seemed that I was being given less ‘importance’ than my colleague. "

Freshers and SMEs can make for a happy marriage


Hiring fresh graduates can be a win-win situation for both SMEs as well as just-out-of-college job seekers, finds out Gunja.

Manufacturing Metrics

Right strategy needed to grow SMEs into large companies

SMEs are constantly striving to grow and become large companies. But to do that entrepreneurs need to chalk out the right strategy at the outset, says Manish Kanchan, MD, Sage Capital.

Technology Tracker

Scope for Carrier Cloud due to Indian SME demand

As it becomes crucial to ramp up profitable revenue base, Indian operators are targeting SMEs with a suite of services that will be easier to position and sell in the cloud mode, according to the latest report published by Heavy Reading Insider ( www.heavyreading.com/insider ), a subscription research service from Heavy Reading ( www.heavyreading.com ).

Trade Trends

Looking to Central Asia

India’s foreign trade policy puts utmost attention to exploring new markets for exportable products and offshore investments. At a time when India’s look-East policy is exploring new modules of engagement in East and Southeast Asia, and its look-West policy has already been emphasising on broad-based engagements with the Persian Gulf region, it is high time to look at the geography in the Northwest as well. Amidst such efforts of engagements, the missing link is the Central Asian region, which has immense strategic importance, argue Absar Alam and Dr Faisal Ahmed.

Will India continue to supply cheap drugs?

India supplies 70 per cent of the HIV/AIDS drugs obtained by the United Nations Children’s Fund (UNICEF), the Global Fund and the William J Clinton Foundation for developing countries. A further 75-80 per cent of medicines (not only for AIDS) distributed by the International Dispensary Association to developing countries come from India. No wonder India has been termed the ‘pharmacy of the developing world’. But there are also many factors that may hinder the continuation of the country’s role as chief supplier of medicines to developing countries. Hence, a strategy is needed involving the government and Indian drug companies to ensure that the local drug industry continues to thrive; that it produces not only existing medicines but also new medicines even if they are patented; and that they are supplied at cheap prices not only in India but to the developing world, says Martin Khor.

Intelligence on IPR

Why SMEs need to rely on Intellectual Property?


In an article published on April 26, which is World Intellectual Property (IP) Day, established by the World Intellectual Property Organization (WIPO) to raise awareness of how businesses, individuals, economies and society as a whole benefit from patents, trademarks, design rights, copyrights and other forms of IP, Kelvin Kirby, CEO of Technology Associates InternationaI argued that in today’s knowledge-based economy, those individuals and companies that are relying on IP are boosting economies, creating jobs, growing GDP, driving technical innovations and inspiring the next generation of entrepreneurs.


Directory of Testing Laboratories in India

Directory of Testing Laboratories in India
Buy our one-of-a-kind guide to all industrial testing laboratories in India. Find the one most convenient for getting your products tested and certified. An invaluable compendium for all industrial units and exporters.
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Handbook for Managing Export Payment Risks 

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If you are an exporter you simply cannot do without this unique publication which tells you how to manage payment and other risks arising from exports.
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Free Publications

Fertilizer quality control in India: Need for change 

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This monograph argues for a systemic change in fertiliser quality control. Essential reading for those in policy-making positions.
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:

FISME launches IPFC in New Delhi

FISME launched Thursday (April 26, 2012) its third Intellectual Property Facilitation Centre (IPFC). The centre located at FISME’s New Delhi office will enable MSMEs in and around the national capital as also neighbouring states to obtain protection for their intellectual property in a convenient and cost-effective way. Earlier this year FISME launched two other such centres in Bangalore and Hyderabad respectively.

FISME organises seminar on cloud computing in Hyderabad

FISME organised a seminar on cloud computing in Hyderabad on April 27, 2012. This was the second such event under a series titled ‘SME Connect - Helping new age SMEs innovate and compete with cloud technology’ being held across the country. The next such seminar will be organised in Ahmedabad sometime in May, 2012. The seminar was held in association with the Indian arm of global software giant Microsoft Corporation together with a number of partner organisations such as Fibre Glass Industries Association of Andhra Pradesh (FIAAP), the Federation of Andhra Pradesh Small, Medium and Micro Enterprises (FASMME), the Federation of Andhra Pradesh Small Industries Association (FAPSIA), Andhra Pradesh Plastic Manufacturers’ Association (APPMA), Jeedimetla Industries Association (JIA), Bulk Drug Manufacturers’ Association (BDMA), the IT and ITES Industries’ Association of Andhra Pradesh (ITSAP), the Confederation of Women Entrepreneurs (COWE), the Association of Lady Entrepreneurs of Andhra Pradesh (ALEAP) and the Electronic Industries Association of Andhra Pradesh (EIAAP).

Do you think a separate Index of Industrial Production (IIP) should be developed for the registered MSME sector?

Macro Metre

Eight core sectors' growth slumps to 2 per cent in March

Eight core industries' growth rate slowed down to 2 per cent in March as against 6.5 per cent in the same month last year on account of dismal expansion in crude oil and natural gas sectors. The eight industries - crude oil, petroleum refinery products, natural gas, fertilisers, coal, electricity, cement and finished steel - have a weightage of 37.9 per cent in the overall Index of Industrial Production (IIP).

Govt to form panel to revise IIP after goof-up in January data

The government is set to form a committee to revise the Index of Industrial Production (IIP) series after an embarrassing discrepancy in the January data. Apart from revising the current series, the committee will suggest ways to improve the reporting of data. The names doing the rounds for the likely head of the committee include Planning Commission member Saumitra Chaudhuri. When contacted, Chaudhuri did not comment on the matter. But, top government officials said, “It is a matter of time. After some formalities, the committee would be constituted. Chaudhuri has been asked and he has agreed.”

IIP and other leading indicators need overhaul

The massive downward revision of the industrial production figure for January, explained by the central statistics office (CSO) as a one-off error, brings into focus the issue of compiling a set of leading indicators to better gauge economic trends. The index of industrial production is supposed to be a lead indicator in India, giving an inkling of where the economy's headed. But the degree of volatility in the index, and the extent of its revision lately raise questions of accuracy and relevance. It also points at the need for a broad array of indicative figures to keep better tab of the emerging scenario. What's really required is sound business cycle analysis.

Domestic Digest

TN urged to speed up commissioning of thermal power plants

The Tamil Nadu government should try to speed up the implementation of thermal power plants so that they can go on stream this year itself instead of next year as scheduled now. “This is necessary to ensure that the state does not slide back to the kind of crippling power cuts that micro and small industries have been suffering from over the past few months which has forced an estimated 10 to 20 per cent of them to close down,” FISME Vice President Mr Gandhi Kumar told The FISME Factor in a telephonic interview.

TN micro industries hit by power crisis

Micro small and medium enterprises (MSME) have been hit hard by the power crisis in the State and an estimated 10 to 20 per cent of them have closed down, according to S Sivagnanam, Director of MSME Development Institute. Speaking to express on the sidelines of the All India Management Association’s Third National MSME Convention recently, he warned that if the power crisis in the State continued for more than a year, a majority of small and micro industries would perish.

SBI to open new SME branches in Bengal

Giving emphasis on more lending to small and medium enterprises (SMEs), public sector State Bank of India (SBI) will set up four new specialised SME branches in West Bengal, a senior bank official said recently. "We are giving more thrust to the small and medium enterprises in Bengal. In that context, we are coming up with four more specialised SME branches in the state," SBI chief general manager (Bengal circle) Surender Kumar told reporters on the sidelines of an interactive session organised by the Bengal National Chamber of Commerce and Industry (BNCCI) .

TN’s industrial policy to target 14% growth in manufacturing

The Tamil Nadu Government will soon announce its industrial policy that will target a 14 per cent growth in manufacturing, the Chief Minister, Ms J. Jayalalithaa, said. The Government is giving final touches to industry-specific policies such as automobiles, auto components, bio-technology, aerospace and renewable energy with special focus on solar power generation, she said.

More steps needed for credit, technology availability to MSEs

There is a need to take more steps to provide easy loans to micro and small units with the help of private and public-sector banks, the MSME ministry has said. "The MSEs are getting benefited through finance available from the banks...But all industries are not getting finance," Minister of Micro, Small and Medium Enterprises (MSME) Virbhadra Singh has said recently. Credit availability and poor technology are the major challenges faced by the small-scale enterprises in India.

PE firms not keen to become 'nominated investors' for SMEs

Private equity (PE) and venture capital (VC) firms are not keen to become “nominated investors” for firms planning to list on the exchanges for small and medium enterprises (SMEs). Market regulator Securities and Exchange Board of India (Sebi) has allowed qualified institutional buyers (QIBs) and PE/VCs to become nominated investors for companies planning to list on an SME exchange.

Dhanalaxmi Bank to give a thrust to retail and SME loan growth

Mr P.G. Jayakumar, MD & CEO in-charge, Dhanlaxmi Bank, is in the hot seat. He has been tasked with the responsibility of turning around the fortunes of the old generation private sector bank. Elevated to numero uno position in February, ‘Jayan Sir', as he is called in the bank, has hit the ground running. All his energies are focussed on cost cutting — rightsizing, cutting salaries, vacating unwanted space in the corporate office and branches to save on rent, getting the branches to do more business, shifting the focus from wholesale banking to retail and SME, and reverting to the branch-centric model of banking from the silo structure.

MSME Ministry drives IPFC aggressively

Ministry of Micro, Small and Medium Enterprises (MSME) aggressively persist on establishing Intellectual Property facilitation center (IPFC). Under the National Manufacturing Competitiveness Program, MSME is implementing a scheme 'Building Awareness on Intellectual Property Rights (IPR) for Micro, Small and Medium Enterprises' for setting up IPFC. As of today, MSME ministry has sanctioned 24 IP facilitation centers for MSMEs, out of which, 16 are operational.

MSMEs pushing growth of rural industries

Indian Micro, Small and Medium Enterprises (MSMEs) have been playing a crucial role in promoting the country's rural industries, reveals official data on Thursday. "As per the Final Report of 4th Census of registered MSME: 2006-07, the data for which was collected in 2009-10 and the Report published in 2011, the Gross output of MSMEs in rural areas is Rs.2,42,532.80 crore in comparison to Rs.68,289.29 crore reported in the Report of 3rd All India Census of Registered SSIs: 2001-02, published in 2004," Union Cabinet Minister for Micro, Small and Medium Enterprises Virbhadra Singh stated in a written reply to a question raised in Lok Sabha.

Mahindra Finance to venture into small biz lending

Mahindra Finance plans to take its first step into corporate lending this year with small and medium enterprise (SME) financing. For the BSE-listed firm, this will add to an expansive portfolio — from auto lending and second-hand vehicle loans, to housing loans and insurance broking. “It's in synergy with our core business. We have a large Mahindra supplier and dealer network, so we will start by participating in their expansion plans,” Mr Ramesh Iyer, Managing Director, Mahindra & Mahindra Financial Services, told Business Line.

Banks to restructure loan worth Rs 2 trillion by Mar'13: Crisil

Restructured loan portfolio of banks is expected to touch Rs 2 trillion by March 2013, said Crisil the rating company. A sizeable proportion of the restructuring comprises large-ticket corporate exposures; total restructured loans will account for 3.5 per cent of the banking sector's total advances as at March 2013,'' it said. GTL Infrastructure, a telecom tower group; microfinance company BASIX; and Deccan Cargo and Express Logistic, founded by Captain Gopinath, Bharati Shipyard are among companies whose loans have been restructured this year, document from the CDR Cell shows. Other companies like Hotel Leelaventures, HCC and Lavasa await banks approval to be admitted to CDR cell.

IFFS expands its factoring services in Maharashtra

India Factoring & Finance Solutions Pvt Ltd, a joint venture of the state-owned Punjab National Bank (PNB), Malta-based FIM Bank Group, Italy- based Banca IFIS, and Blend Financial Services, Mumbai, is expanding its factoring services in Maharashtra for entrepreneurs, small and medium enterprises (SMEs) and small-scale industries. The company will soon starts services in like Pune, Nashik, Nagpur, Aurangabad, a company executive said. Factoring is a financial transaction where a business sells its accounts receivable for immediate cash to a third party referred to as the 'factor'. The factor finances the receivables, administers the debt and later collects it's at the due date.

Small units can engineer giant leap

Micro, small and medium enterprises are the backbone of UP's economy. In Uttar Pradesh, where the presence of big ticket business houses is largely limited to the Western parts, MSMEs are the main source of employment for people in the rest of UP. According to the 2011-12 annual report of the Union ministry of micro, small and medium enterprises, MSMEs accountsfor nearly 40% of India's total exports. In India, there are approximately 2.61 crore MSME units that generate employment for over 6 crore people.

RBI suggests rehabilitation fund for sick MSMEs

The Reserve Bank has suggested setting up a rehabilitation fund for reviving sick micro, small and medium enterprises (MSMEs) in the wake of rising number of such units. ”...rehabilitation of sick MSMEs could not be taken up due to non-availability of promoters’ contribution in a large number of cases, RBI has recommended to the government to set up a ‘rehabilitation fund’ for sick MSMEs,” RBI Deputy Governor Mr K C Chakrabarty said at a recent conclave.

World Bank to invest $11.3 million into five MSME clusters

As the global pro-environment juggernaut grows louder and more influential each passing day, Indian MSMEs clusters are to soon jump on the green bandwagon. Under the United Nation's Global Environmental Facility (GEF) fund, the World Bank (WB) has finalised five clusters in India - Faridabad, Ankaleshwar, Kolhapur, Pune and Tirunelveli - to make MSMEs energy efficient. It is a three year project with a fund allocation of $11.3 million. To achieve the objective of this project, WB has partnered with the Small Industries Development Bank of India's (Sidbi), Bureau of Energy (BE) and a local partner in these five clusters. In Faridabad, the local partner is the Faridabad Small Industries Association (FSIA).

BIA team to woo investors at Hanover trade fair

With the aim of making Bihar a low-cost manufacturing base to attract foreign investments, a 10-member Bihar Industries Association (BIA) delegation will attend the Hanover Messe 2012, a premier technology event at an international trade fair to be held in Hanover, Germany from April 23 to 27. The BIA delegation will be accompanied by government of India representative and director of Micro, Small and Medium Entrepreneurs (MSME) Industrial Institute, Patna, D K Singh. Union ministry of MSME has organized the tour of a delegation of industrialists from six states to Hanover.

Exim Bank to launch $500m fund to support export by MSMEs

The Export-Import Bank of India (Exim Bank) is planning to set up a new fund of USD 500 million (Rs 2,500 crore), which will provide MSMEs with long- term foreign currency loans, a top official said today. 'Technology and Innovation Enhancement and Infrastructure Development Fund' will support exports by Micro, Small and Medium Enterprises (MSMEs), he said. "We will set up this fund with an initial amount of USD 500 million over the next five years to support MSMEs in getting foreign currency loans, which will help them in exports," Exim Bank Chairman and Managing Director T C A Ranganathan told reporters here.

SBI to cut interest on auto, small biz loans

State Bank of India will reduce interest rates on vehicle loans and on loans to small and medium enterprises. “We have already started adjustment of rates on the loan side. Auto loan rates will be cut recently,” Mr A. Krishna Kumar, Managing Director, State Bank of India, told newspersons recently. This will be followed by a reduction in the rates on smaller-ticket loans to small and medium enterprises, he added.

Banks may cut lending rates for retail borrowers

Several state-run lenders from Allahabad Bank to Union Bank of India may reduce lending rates on retail or SME loans to a higher extent and avoid cutting lending rates uniformly across the board, as the government wants them to focus more on these customer segments. Top executives with these banks said they are weighing various options and a clearer picture will emerge in the next couple of days.

IPF to set up Knowledge Park near Kolkata

Indian Plastic Federation (IPF) is setting up a knowledge centre at Sankrail near Kolkata. The project which is likely to cost around Rs 25 crores, will be implemented in phases with over one lakh sq ft area of construction. This was indicated by Amar Seth, chairman, Indplas'12 exhibition organising committee and IPF Knowledge Centre.

SIDBI VC fund gets Rs 670 cr for India Opportunity Fund

Sidbi Venture Capital Fund has received commitment for Rs 670-crore funding from financial institutions as part of its fund raising for the India Opportunity Fund, which is likely to be closed soon. Sidbi Venture Capital is a subsidiary of the state-run Small Industries Development Bank of India (Sidbi). "We have received commitment of Rs 670 crore for the India Opportunity Fund as of now and are planning to close it soon," Sidbi Venture Chief Executive Ananta P Sarma said.

Focus on China

China economy: Reform push

Over the past few months China's authorities have unveiled a number of new economic reforms, many of which have focused on the financial sector. The initiatives have come thick and fast, contradicting expectations that the period ahead of the transition to a new generation of leaders—likely to begin at the Chinese Communist Party (CCP) congress in October or November this year—would be a quiet one as the leadership sought to avoid factional rows over policy. Yet, in many ways the recent reforms may mark only the beginning as China gears up for a more challenging economic climate in the next five years.

Focus on Thailand

How SMEs stand on world's tourism map

The importance of small and medium-sized enterprises to the Thai tourism industry is cited in a report issued by the Paris-based Organisation of Economic Cooperation and Development recently. The reference is the only one to "tourism" in the entire report, Financing SMEs and Entrepreneurs 2012 - An OECD Scoreboard. Although the tourism industry is excessively obsessed with the role of global brands or major multinational corporations, its real job-creating and economic-development process is primarily in the hands of the SMEs.

Focus on Nigeria

Supporting small enterprises for optimal production

It is no longer news that small enterprises are vital to all economies – developing and developed. So, when a corporate body comes up with the idea of brainstorming on the issue of how to support these enterprises for optimal production, you know that body is on the right track. The Lagos Chamber of Commerce and Industries plaza at Alausa, Central Business District, Ikeja, Lagos was the venue of a brainstorming session on this issue recently. The event was the initiative of Skyward Research & Consulting Limited, a company that has been conducting SME-accentuated seminars over the years, in various parts of the country.

Focus on Saudi Arabia

Skills crunch major challenge: Faisal Alsayrafi

Leaders in the private and public sector must see each other as partners and problem solvers, says Faisal Alsayrafi, president of Financial Transaction House (FTH). Alsayrafi, who has more than 25 years of experience in corporate finance advisory and management, also recommends that the Kingdom should be more dynamic, open, and entrepreneurial to bring about more changes within the next 20 years. The youth should be given more opportunities especially with the Kingdom widening the private sector’s role in creating jobs, Faisal Alsayrafi says in an exclusive interview with Diana Al-Jassem of Arab News.

Focus on Oman

Focus on intellectual property management

A workshop on “Effective Intellectual Property Asset Management” by Small and Medium Enterprises (SMEs) was opened recently. The three-day workshop, which is being organised by the Commerce and Industry Ministry, represented by the Directorate-General of Small and Medium Enterprises Development in association with the World Intellectual Property Organization (WIPO), was opened under the auspices of Khalid bin Mohammed al Zubair, Board Member of Oman Chamber of Commerce and Industry (OCCI) and Head of the Small and Medium Enterprises Committee at OCCI, who stressed the importance of organising this workshop, which aims at supporting SMEs as they are one of the pillars of the national economy.

Focus On UK

UK procurement pledge will not help SMEs

The Local Government Association, a voluntary lobbying organisation acting as the voice of the local government sector in England and Wales, has refused to sign up to the Cabinet Office's new procurement pledge. The pledge was aimed at benefiting big business and would do little to encourage procurement from SMEs, viewed the LGA.

Focus on Tanzania

BoA Tanzania reaffirms commitment to help SMEs

Reaffirming its commitment to develop the Small and Medium Enterprises (SMEs), Bank of Africa Tanzania has said that promoting the sector will help attain socio-economic development in the country. "We are committed to developing the country's SMEs sector," BoA Tanzania's Managing Director, Mr Ammish Owusu-Amoah is quoted by a media report recently. He added that it is SMEs that ultimately leads to big businesses in any country.

Business Opportunities in Canada

Two Canadian companies looking for Indian trade and business partners.

Business Opportunities from Sri Lanka

Twelve Sri Lankas copanies are looking for business partnerships with Indian companies.

11 new members join FISME

During the period April 15 to May 1, 2012 a total of 11 new MSME became members of FISME.

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