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President's Message |
" With 12 Mn people coming out in the job market every year, India needs employment creation at war footing. The data shows the large companies are not hiring. The Government is already too bloated to absorb more. The only sustainable solution is creation of small enterprises at a mass scale. The mantra is self-employment. Prime Minister Modi recognized this early in NDA-II and he initiated ambitious programmes for improving ‘ease of doing business’, ‘stand-up India’, ‘start-up India’ etc. There is traction of different degree in them too. But what is frustrating is to see that different arms of government work on different purposes just to placate their narrow political interests. Delhi Government increased the minimum wages in Delhi overnight by 50%! The Ministry of Labour moved to increase the paid Maternity leave for women employees from 12 to 26 weeks. As there is marked difference between prevalent market rates and the official rates, the former decision will push more workers from formal to informal employment. And, the latter decision will discourage people from hiring women. This is sad. Indian needs more formal employment and more women in our workforce. But the policies will achieve just the opposite.
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Dr. Sangam Kurade, President, FISME
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Vol IV, Issue 114: Sep 1, 2016 |
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Activities |
The World Bank Group joined hands with Federation of Indian Micro and Small & Medium Enterprises (FISME) to organise a 5 city campaign wherein experts from WBG would talk the growing importance of credit information in today’s global business operations and about the functioning of the credit information bureaus operating in India.
After the success of the previous programmes in Faridabad, Bangalore and Chennai, similar event was organized in Mumbai on 24th August 2016.
The programme in Mumbai was organised in association with Bombay Industries Association.
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Business Banter: Lessons from Entrepreneurs |
Many entrepreneurs make the mistake of focusing on building their company brand to the exclusion of building their personal brand. However, your personal brand will differentiate you from your competitors, give you authority and credibility in your field, and stick with you in the event your company ultimately experiences failure.
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Writing on the Wall |
In a move designed to incentivise intellectual property and its commercial exploitation, the government (DIPP) recently enunciated the National Intellectual Property Rights Policy (IPR Policy).
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Media Monitor |
Macro Metre
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Ahead of the India-US CEO Forum meeting, Commerce Minister Nirmala Sitharaman discussed energy and manufacturing among other issues with top industry leaders including Tata Sons Chairman Cyrus Mistry, Bharti Airtel Chairman Sunil Bharti Mittal; and Mahindra Group Chairman Anand Mahindra.
"Lot of areas have been specifically looked into for greater cooperation between India and the US commercial matters whether you talk about energy and manufacturing of certain items," the minister said after meeting the industry captains.
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Some exemptions and incentives given for promoting exports may be done away with once the Goods and Services Tax (GST) comes into effect, Union Commerce Secretary, Rita A Teaotia, said here on Saturday.
The Commerce Secretary was speaking to the exporters community at a joint session organised by EEPC, FIEO, GJEPC, Bengal Chamber of Commerce and Industry and Assocham.
According to her, exemptions and incentives and GST do not go hand-in- hand with one another. It was a basic contradiction.
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India's growth may have slowed marginally in the first quarter of the fiscal from the preceding three months but the full year is expected to be better than the last, thanks to consumption boost fuelled by a good monsoon and higher salaries and pensions owing to the 7th pay commission award.
April-June growth was pegged at 7.4 per cent, according to the median of estimates in a 7-7.8 per cent range by economists and research agencies polled by ET, less than 7.9 per cent in the fourth quarter of the previous fiscal. Full-year growth is seen at 7.8 per cent, faster than 7.6 per cent in FY16.
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AThe total amount of payments and settlements for the year 2015-16 done electronically has reached a record high according to data released by the Reserve Bank of India in its Annual Report on Monday.
Proving the fact that India is taking baby steps towards a less cash economy payments made through National Electronic Funds Transfer (NEFT), Immediate Payments Service (IMPS) along with card and wallet based transactions have all shown a steady rise.
According to data released by RBI, the number of transactions via IMPS showed an almost 3 time jump to Rs 22 crore from around Rs 7.8 crore a year ago. The total value of transactions jumped to Rs 1.6 lakh crore from Rs 58,200 crore.
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Union Minister of Electronics and Information Technology Ravi Shankar Prasad on Saturday inaugurated the Electropreneur Park — an incubation centre to supportstart-ups in electronics — at University of Delhi’s South Campus to support the government’s aims to promote manufacturing in the sector.
The park will incubate 50 early stage start-ups and create at least five global companies over a period of five years.
“We have decided to make India a big hub of electronics manufacturing including mobile phones. In the last one year, we have manufactured 11 crore mobile phones in India,” Prasad said at the launch here.
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The Office of Development Commissioner (MSME), Ministry of MSME is operating a new scheme called “Promotion of Information & Communication Technology (ICT) in MSME Sector”.
Under the scheme financial support in the form of subsidy of upto maximum Rs. 3 Lakhs would be given to MSMEs in three years on yearly basis.
The prime objective of the scheme is to motivate MSMEs to adopt ICT Tools and applications in their production and business processes mainly through Cloud Computing Services with a view to improve their competitiveness in National & International Market.
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FISME Defence Suppliers’ Group (FDSG) initiated a programme in collaboration with Coimbatore District Small Scale Industries Association (CODISSIA) for creating awareness about the opportunities lying for MSMEs in the ‘Make in India’ programme of the defence ministry.
FDSG is a dedicated forum of Federation of Indian Micro and Small & Medium Enterprises (FISME) for capacity building, hand holding and facilitating MSMEs for participation in the ‘Make in India’ programme of defence ministry.
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The Ministry of MSME has approved the scheme for setting up of National Schedule Caste and Schedule Tribe Hub to provide professional support to SC & ST entrepreneurs to fulfil the obligation under the Central Government/ procurement policy for micro and small entrepreneurs order 2012 adopt and applicable business practice and leverage to stand up India initiative.
However, the Ministry said this issue with the approval of Hon'ble Minister (MSME).
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Hoping that the Government e-Marketplace (GeM) will make process of procurement of goods and services by government buyers more transparent, accountable and efficient, Finance Secretary Ashok Lavasa highlighted it has been made mandatory on GeM to make payment to the vendors within 10 days of receipt of goods/services. He said efforts should be made to further reduce this time span as time is money and ultimately the cost of delayed payment is born by the Government.
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State Scan |
Andhra Pradesh
India’s first integrated textiles city is likely to come up in Andhra Pradesh. The central government has already initiated the process of identifying land, technology and expertise for the same.
According to sources, Textiles Minister Smiriti Irani has spoken to Andhra Pradesh Chief Minister N Chandra Babu Naidu for providing land and other facilities.
With Naidu’s Telugu Desam Party being an ally of the ruling National Democratic Alliance at the Centre, the proposal, mooted by the NITI Aayog, is likely to be accepted.
Haryana
Haryana Government is planning to set up tool rooms at IMT Rohtak and Saha within next two years. Also, Quality Making Centres will be converted into Quality Certification and Skill Development Centres with the assistance of Union Ministry of MSME.
The Haryana State Industrial Infrastructure Development Corporation (HSIIDC) said this in a recently released handbook giving glimpse of interventions taken by the state government in order to woo investors.
Odisha
The Odisha Government is set to develop a salt cluster in Ganjam district of coastal Odisha.
According to a media report, the State Additional Secretary of MSME Department, BB Behera, said the government will first identify the problems of salt industries before taking any final steps to develop infrastructure for cluster development.
Behera said the proposal to set up slat cluster was recently discussed at a meeting chaired by Micro Small and Medium Enterprises (MSME) department secretary, GK Dhal, who directed the director of industries to take immediate steps to develop a salt cluster.
Punjab
During an interaction with traders of micro, small and medium enterprises (MSME) in Ludhiana, Deputy Chief Minister of Punjab Sukhbir Singh Badal has announced to establish an exhibition centre on November 1, a long-pending demand of industrialists in Ludhiana.
During the interaction, Upkar Ahuja, Chairman, Small Industry Development Board, lauded the efforts of recently proposed Focal Point at Dhanansu as it is more than two decades since, a Focal Point was built in Ludhiana.
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FISME’s official Twitter handle @fisme |
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KNN India’s official Twitter handle @knnindia |
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Tender |
Tender on Supply of Advanced Electricity Metering System
It may be of interest to you to know that Uzbekistan’s Joint Stock Company “Uzbekenergo” has released a tender for “supply, installation and implementation of AEM System “. The Notice states that the financing for the project “ Advanced Electricity Metering Project” has been received from the Islamic Development Bank and that a part of it will be utilized for procurement of meters.
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Other Events |
Eastern Print Pack
Date: 01st-04th Sept 2016
Venue: Milan Mela Complex, Kolkata
See Details
UNIVASSIST Fall India Fairs
The Interior Show Surat
Date: 01st – 04th Sept 2016
Venue: The Southern Gujarat Chamber Of Commerce & Industry, Surat
See Details
Business Opportunities Show Jamnagar
Date: 04th Sept 2016
Venue: Hotel Fortune Palace, Jamnagar
See Details
Business Line CAI
Date: 02nd – 04th Sept 2016
Venue: Chennai Trade Centre, Chennai
See Details
Dairy Livestock and Poultry Expo
Date: 02nd – 04th Sept 2016
Venue: Mahatma Mandir, Ahmedabad
See Details
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Your Views |
Did govt’s radical FDI policy impede growth of Indian e-commerce firms?
According to the FISME Factor, 100 percent of Micro, Small and Medium Enterprises (MSMEs) think that India’s startup sector is finally seeing some reinforcement.
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Knowledge Store |
HR Heuristics
In hiring war, internal talent pool is often under-leveraged & neglected
As the war for talent scales unprecedented heights, organisations are looking for newer and better ways of attracting, developing and retaining talent. Dichotomous as it may sound, the internal pool of talent still continues to be grossly under-leveraged. Often, in large complex organisations, while the recruiters are struggling to find the right candidate externally, the most qualified internal employee might be looking for a similar job.
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Finance Fundamentals
Lendingkart: Banking on small-town enterprises
If you run a small business in a remote village what are your options for raising working capital? The nearest bank or non-banking financial company (NBFC), perhaps. Now, with a smartphone and a credible transaction history, a loan of up to Rs 10 lakh could come to you wherever in the country you are. That is the service offered by Lendingkart, an online lending start-up to small and medium enterprises (SMEs).
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Marketing Mantras
Five questions to ask before doing business in a new global market
Entering a new global market often requires radically re-thinking your communication strategy based upon cultural differences, local perceptions of your product category, and stereotypes about your company's country of origin.
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Policy Polemic
UP MSMEs blame Akhilesh Govt for manufacturing activity slowdown, policy paralysis in state
The MSME entrepreneurs from across Uttar Pradesh, which is set to go on Assembly polls next year, feel that there is hardly any manufacturing activity taking place in the state mainly due to failure of the state government in implementation of the policies effectively.
More than 150 entrepreneurs from all over Uttar Pradesh participated in a recently concluded two day Annual General Meeting of Indian Industries Association (IIA) at Mussoorie.
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SME Special
Lendingkart ties up with Unicommerce for easy credit to SMEs
Lendingkart Group has tied up with with Delhi-based multichannel order fulfillment platform Unicommerce. The partnership will enable Unicommerce's consumer base to get access to collateral-free working capital loans through Lendingkart Group's NBFC within 72 hours of application at a discounted rate.
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Success Story
Successful entrepreneurs must have a God-complex: Naveen Jain, Moon Express co-founder s
Naveen Jain's company Moon Express recently became the first private outfit to receive US regulatory approval to land on the lunar surface.
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Stockpile
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
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Quotable Quotes
“ The secret of joy in work is contained in one word: excellence. To know how to do something well is to enjoy it. s ”
– - Pearl Buck, was an American writer and novelist
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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:
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New Members |
During the period from 15th August 2016 to 31st August 2016 a total of 5 new MSMEs became member of FISME
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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.
send mail to: newsletter@fisme.org.in
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Editorial Team: |
Hon. Editor: Anil Bhardwaj
Asstt. Editor: Simmi Nagpal
Types setting & websdesigning: Sanjay Sachan
Video & Photography: Pramod Poddar
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