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  The FISME Factor  


President's Message
Dr. Sangam Kurade, President, FISME "The first roundtable as part of the SIDBI-FISME national campaign on GST for MSMEs, which was held in Delhi, bears out a few key challenges that MSMEs would encounter while implementing GST. The real issues are now in operational realm. Tax authorities cannot fathom all the complexities in the course of flow of goods and services across value chains and geographical boundaries. It is imperative that MSMEs- their horizontal and vertical associations, after studying the proposed legal and operational part of GST, simulate them in their sectoral/ geographical contexts, identify lose ends and anomalies and bring it to the notice of authorities. Good news is window is still open. But we need to move fast. Following the roundtables and webinars we intend to submit the Government a dossier of suggestions every week hereafter. Please do send us your observations and comments as the draft GST legislation are on anvil. "
Dr. Sangam Kurade
Vol IV, Issue 117: Oct 15, 2016
FISME-SIDBI kick-start national campaign on GST for MSMEs from New Delhi
Business Banter: Lessons from Entrepreneurs
Get a co-founder (and a mentor).
Macro Metre
Delhi to Beijing: give Indian goods greater market access
Inflation seen cooling to one-year low in September Knowledge and News Network (KNN)
Oil Ministry proposes Rs. 300-crore fund to promote start-ups in clean energy space Knowledge and News Network (KNN)
Domestic Digest
Exports up 4.62% to $22.9 billion in September, imports dip 2.54% Knowledge and News Network (KNN)
MSME Ministry asks MSMEs and start-ups to make use of Design Clinic Scheme
World Tea & Coffee Expo to give MSME exporters opportunity to network, expand
State Scan
Assam Chief Minister assures to set up MSMEs in state and focus on skill development Knowledge and News Network (KNN)
Gujarat dye manufacturers planning to set up company to avoid China dependence
World Watch
India, Brazil to ink pact, boost bilateral cooperation
India, Russia likely to sign deal to produce Kamov choppers
Knowledge Store
Six basic rules for small business finance
...And A Lot More
SIDBI-FISME national campaign on GST: Roundtables, Webinars and Guide for MSMEs
2nd in the series
GST: Identifying implications & facilitating adoption by MSMEs
25th October 2016, Mumbai

FISME-SIDBI kick-start national campaign on GST for MSMEs from New Delhi

A path breaking indirect Tax reform is underway in India as GST is being rolled out. Its repercussions will be felt by all economic sectors- small or large. To apprise MSMEs of the current state of debate about GST and to elicit their feedback to develop a capacity building agenda for smooth adoption by MSMEs, SIDBI and FISME are jointly initiating a nationwide campaign to hold a series of roundtables and webinars. The first roundtable meet of the series was organized today at India Habitat Centre in New Delhi.
Business Banter: Lessons from Entrepreneurs

Get a co-founder (and a mentor).

Although I first struck out on my own, I quickly learned that two are better than one. Having a co-founder provided a way to fill in those areas where I lacked knowledge, expertise, skills and connections. Just take the time to find that special person that truly complements you and where you can create and hold a shared vision.
Writing on the Wall

IIP sinking: Here is what you really need to worry about

What is worrying about the slowdown in industry is not only that it is becoming more pronounced in some sectors, it also seems to be more widespread. Factory output, as measured by the IIP, declined for the second consecutive month in August, by 0.7%, on the back of a 2.5% fall in July, taking the average for the fiscal so far to a negative 0.3%.

Media Monitor

Macro Metre

Delhi to Beijing: give Indian goods greater market access

Raising concerns about its gaping trade deficit with China, India has asked the country for faster clearance of its rice and pharmaceutical exports, grant of IT projects to Indian companies and greater market access for items such as oilseeds and tobacco. Commerce & Industry Minister Nirmala Sitharaman, in a meeting with Chinese Vice-Minister of Finance and Commerce Wang Shouwen, pointed out that India has to be given greater market access for its goods for a long term sustainable trade relationship.

Inflation seen cooling to one-year low in September

Inflation in India is expected to have cooled to a one-year low in September as good monsoon rains kept a lid on food prices, a Reuters poll showed, possibly giving more room to the central bank to cut rates again by the end of this year. The recently formed Reserve Bank of India Monetary Policy Committee, under new Governor Urjit Patel, cut rates by 25 basis points to 6.25 per cent in a surprise move earlier this month, after inflation hit a five-month low in August.

India plans roadshows for promoting textile exports to new markets

Plummeting textile exports have prompted India to look outside traditional markets and tap the ones being served by competitors such as China. The textiles ministry is planning to do roadshows to promote Indian textiles in the new markets, officials said. “We used to hold roadshows earlier and we want to approach new markets through these. We have identified Russia, South America and West Asia to boost exports,” said one of the officials, who did not wish to be named.

Government paving road for Rs 60,000 crore push to infrastructure sector

An influential section of the government is pushing for an additional Rs 50,000-60,000 crore burst of spending to give infrastructure a big mid-year push through the second supplementary demand for grants. Roads, railways and rural electrification BSE -0.12 % will be among the main beneficiaries.This is being discussed at the top levels of the government, a senior official told ET. The money will be needed as a number of departments will be close to exhausting their funds and require more money to meet targets. A final call on the amount will be taken in line with additional resources that the government is able to garner.

Oil Ministry proposes Rs. 300-crore fund to promote start-ups in clean energy space

The Petroleum Ministry plans to promote start-ups in clean energy space with a ₹300-crore fund with resources raised mainly from oil marketing, research and development companies. Speaking to reporters after the inauguration of Hindustan Petroleum Corporation’s Green R&D Centre near Hoskote on Friday, Petroleum Minister Dharmendra Pradhan said: “Start-ups will be encouraged in oil, gas and bio-fuels space... to develop technologies which are affordable and accessible to help oil marketing, research and development companies.” “IOC, BPCL, HPCL, ONGC, OIL and GAIL are part of this consortium and each company will be asked to device specific business plan to take it forward,” he added. The start-ups funded under the scheme will be encouraged to monetise urban waste and rural agricultural waste in generation of biofuels.

Domestic Digest

Exports up 4.62% to $22.9 billion in September, imports dip 2.54%

Ringing in festival cheer for exporters, goods exports posted an increase of 4.62 per cent in September 2016 to $22.88 billion (year-on-year) — the second instance of monthly growth this fiscal — with substantial rise in shipments of gems & jewellery, engineering goods, garments & textiles, iron ore and handicrafts. Imports during the month at $31.22 billion were 2.54 per cent lower than the same month last year as non-oil imports continued to dip. There was a fall in imports across sectors, including transport equipment, project goods, gold & silver, electronic goods, textiles, fertilizers, chemicals, dyes and iron & steel. Trade deficit, however, narrowed to $8.33 billion compared to $10.16 billion last September.

India International Silk Fair to generate biz of over USD 50 million for SMEs

Lauding the efforts of Indian Silk Export Promotion Council for organizing international level silk far, Union Textiles Minister Smriti Irani said such fairs provides opportunity to MSMEs for showcasing their unique products to visiting overseas buyers. The flagship event of the Indian Silk Export Promotion Council, the 5th edition of India International Silk Fair, will be inaugurated by the Irani on October 15, 2016 at Pragati Maidan, New Delhi.

MSME Ministry asks MSMEs and start-ups to make use of Design Clinic Scheme

MSME Ministry has called upon the prospective and existing entrepreneurs including start-ups to avail technological guidance and financial assistance for research to innovate and develop their products through MSME Centre of Excellence. S M Jamakandi, Director, MSME Centre of Excellence, while addressing the start-ups at an interactive meet jointly organised by Mysore Industries Association; Centre of Excellence, Ministry of MSME; Indian Institute of Science, Bangalore at Mysore Industries Association on Friday.

World Tea & Coffee Expo to give MSME exporters opportunity to network, expand

Giving an opportunity to showcase products, services & technologies to tea and coffee exporters especially the MSME entrepreneurs, the “World Tea & Coffee Expo” (WTCE) will be held for the 4th time in a row in Mumbai from October 20-22, 2016. WTCE is a dedicated global trade event for the Tea, Coffee and allied sectors and consists of an Expo, a 2-day hi level conference and workshops. “WTCE gives an opportunity to showcase products, services & technologies, network with focused buyers, upgrade knowledge and find practical solutions to issues faced by this vital sector,” said the organizers.
State Scan


Assam Chief Minister assures to set up MSMEs in state and focus on skill development

Chief Minister Sarbananda Sonowal has assured that his government will make North East as an organic hub and will set up MSMEs in the state to tap the possibilities, potentialities and prosperities of Assam in sync with the nature. "Our Government will make North East as an organic hub of the Region and we will set up small scale industries in the State in a move to tap the possibilities, potentialities and prosperities of Assam in sync with the nature,” he said.


Gujarat dye manufacturers planning to set up company to avoid China dependence

Dye manufacturers in Gujarat are planning to set up a company to locally manufacture two key raw materials namely, vinyl sulphone and H-acid in order to reduce industry’s dependence on China. Recently, Gujarat Chamber of Commerce and Industry (GCCI) too had called for a boycott of China-made products. According to a media report, Naroda Industries Association (NIA), Vatva Industries Association (VIA) as well as Gujarat Dyestuff Manufacturers Association (GDMA) through their affiliate companies are planning to jointly establish a manufacturing facility to make 1,000 tonnes H-acid and 500 tonnes of vinyl sulphone every month.


IEDO-NIMSME sign pact to take research activities on issues related to MSMEs in Odisha

Odisha government is all set to resolve the issues relating to the micro, small and medium enterprises (MSMEs) as the Institute of Entrepreneurship Development-Odisha (IEDO) has signed a pact with NIMSME, Hyderabad, to take up research activities on this. According to a media report, the state government has agreed for MoU between the Institute of Entrepreneurship Development-Odisha (IEDO) and NIMSME. Under the pact research activities will be taken for the MSMEs and the state will be benefited immensely.


There is a strong potential for growth in specifically Rajasthan’s trade with Russia: Vasundhara Raje

Pitching for a strong potential for growth in Russia’s trade with the state, Rajasthan Chief Minister Vasundhara Raje has said there Russia can help strengthen the state’s engineering industry, specifically in automotive, mines & mineral. Denis Manturov, Minister of Industry and Trade of the Russian Federation met the Rajasthan Chief Minister, Vasundhara Raje here on Tuesday. Both the leaders held discussions on areas of Russia – Rajasthan collaboration on several areas including mining and agriculture.
World Watch


India, Brazil to ink pact, boost bilateral cooperation

India and Brazil will sign an agreement on cooperation and facilitation of investment on the sidelines of the upcoming BRICS Summit in Goa. "Although the two countries have been part of several multilateral fora, it is important to work closer bilaterally to make the partnership truly strategic," Brazilian Ambassador to India Tovara Da Silva Nunes said. India and Brazil will sign an agreement on cooperation and facilitation of investment on the sidelines of the upcoming BRICS Summit in Goa.
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China assures greater market access to products of Indian companies

China has assured India of greater market access in a move that could help bridge India’s mounting bilateral trade deficit with the Asian giant. “The Chinese vice minister assured that China would act on the concerns expressed by India regarding market access for Indian goods in the Chinese markets,” the commerce department said in a statement on Thursday after commerce and industry minister Nirmala Sitharaman met China’s vice minister for finance and commerce Wang Shouwen. Shouwen is here to attend the sixth BRICS trade ministers’ meeting.
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India, Russia likely to sign deal to produce Kamov choppers

India and Russia are expected to sign this weekend a “complex agreement” for production of 200 Kamov 226T helicopters domestically under a nearly $1 billion deal to replace the country’s ageing Cheetah and Chetak choppers. The agreement is expected to be inked on the sidelines of the 2016 BRICS Summit in Goa from October 13 to October 16. A variety of negotiations on the expansion of military-technical cooperation and fortification of trade relations with India will be held.
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Kalraj Mishra- Lindiwe Zulu discuss areas of cooperation for growth of MSMEs

Union MSME Minister Kalraj Mishra met Lindiwe Zulu, Minister of Small Business Development, South Africa in the national capital on Thursday to discuss areas of cooperation for growth of MSMEs. In a tweet, MSME Ministry wrote, “Min @KalrajMishra met Min Ms @LindiweZulu6 Small Dev South Africa Discuss areas of cooperation for growth of MSME.” Mishra and Zulu discussed initiatives like zero defect and zero effect (ZED) and National Manufacturing Competitiveness Programme (NMCP).
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Upcoming Events

International Workshop
Innovation Vouchers: Enabling SMEs to Innovate

24th -25th November 2016
New Delhi
For further details please see link ………
FISME’s official Twitter handle
Knowledge and News Network (KNN)
KNN India’s official Twitter handle
Anil Bhardwaj, Secretary General
Other Events

BiometricsIndia Expo

Date: 19th – 21st Oct 2016
Venue: Pragati Maidan, New Delhi
See Details

India Nuclear Energy

Date: 20th – 21st Oct 2016
Venue: Nehru Centre, Mumbai
See Details

India International Knit Fair

Date: 19th – 21st Oct 2016
Venue: IKFA Complex, Tirupur
See Details

World Tea & Coffee Expo

Date: 20th – 22nd Oct 2016
Venue: Bombay Exhibition Centre, Mumbai
See Details

Lifestyle Exivision

Date: 21st – 24th Oct 2016
Venue: Welkom Palace, Ludhiana
See Details

Dairy Fest

Date: 22nd – 24th Oct 2016
Venue: Lucknow
See Details
Your Views

Will The Next RBI Governor Be Able To Slip Into Raghuram Rajan's Shoes Easily?

According to the FISME Factor, 100 percent of Micro, Small and Medium Enterprises (MSMEs) think that the new RBI Governor will be able to slip easily into Raghuram Rajan’s shoes.
Knowledge Store

HR Heuristics

What HR needs to catch from Pokémon Go?

Within two days of the launch of Pokemon Go, Nintendo's shares surged a quarter and $7.5 billion was added to its valuation. In India alone, the app has been downloaded over 100 million times, 50 million in Singapore and boasts 9.55 million total daily US users. Pokemon Go has well and truly taken the world by storm.

Finance Fundamentals

Six basic rules for small business finance

Small businesses are generally set up by individuals or a group of people with a lot of passion and a lot of dedication and hard work goes behind the scenes. However remember no amount of hard work and dedication can replace the basic need to have an efficient financial system in place. All businesses whether big or small are run for profit and even if you do not break even right away you still need to know if you are heading in the right direction.

Marketing Mantras

Playing with fire: Brands are now exploring war themes in advertisements

The possibility of getting ambushed outweighs incremental gain brands might get by exploiting war themes in their advertising. But can that keep them away from Ground Zero? On September 8 this year, three days before the 15th anniversary of 9/11, Mike Bonanno did something unusual. The founder of Texas-based mattress brand Miracle apologised to the victims and families of the 9/11 attack.

Policy Polemic

Why India needs to move from a controlling to an enabling environment

1991 was a 'strategic inflection point' for India. It heralded the progress India was making in economic liberalization, globalization and market-driven ambience. Fast forward 25 years, and these strong foundations have signaled The International Monetary Fund to project that India's GDP will grow by 7.4 percent for 2016-17 - making it the world's fastest-growing large economy.

SME Special

SunnyBee’s cool way to sell fruits and veggies

At 6 ft 3, with a build to match, 22-year-old Sanjay Dasari packs a lot of muscle. These days, Sanjay is packing, well, figuratively, a whole lot of fruits and vegetables for his one-year-old venture, Sunny Bee, a chain of six stores across Chennai that sells fresh produce.

Success Story

How young achievers can turn adversity into strength to reach the ultimate goal

"Now when I climb the mountains I don't have fear of frost bite," Mark Inglis, first double amputee to climb Mount Everest, very matter-of-factly told a bunch of 40 young achievers under 40 and a gathering of top CEOs of India Inc. Inglis, a professional mountaineer, winemaker, motivational speaker, cyclist, philanthropist, paralympic medalist and an author, all-in-one, said: "Attitude defines your altitude. And to develop that you first need to have a dream."


The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, has released the Consumer Price Index numbers on base 2012=100 for rural, urban and combined for the month of June 2016

Quotable Quotes

“ You must be very patient, very persistent. The world isn’t going to shower gold coins on you just because you have a good idea. You’re going to have to work like crazy to bring that idea to the attention of people. They’re not going to buy it unless they know about it. ”
– - Herb Kelleher, Founder of Southwest Airlines.
Country Chronicles
FISME regularly receives monthly reports on the economies of various countries from their missions in India. These reports provide information on key economic parameters, trade related information and all news relevant for importers and exporters. In this edition you can take a look at reports on:
Starting a New Venture
Coming August, K J Somaiya Institute of Management Studies and Research located in Vidyavihar, Mumbai is launching a certificate programme on Creating New Ventures.
New Members

2 New Members Join FISME

During the period from 01st September to 15th September 2016 a total of 2 new MSMEs became member of FISME
Reader Reactions

Write and Win prize!

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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Editorial Team:
Hon. Editor: Anil Bhardwaj
Asstt. Editor: Simmi Nagpal
Types setting & websdesigning: Sanjay Sachan  
Video & Photography:  Vipul Kumar Chettry


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