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The FISME Factor


President's Message
" Conflicting reports are emerging with regards to economic growth. Based on a new method of decoding statistics, we are told that the Indian economy grew 7.5% in the last quarter- perhaps the fastest in the world. It is also seen growing with the same steam in next quarters. The feel from the ground is not that rosy though. Business sentiments are positive, but most MSMEs are yet to see their order books swelling and their payments flowing in. Statisticians attribute the sudden jump in growth estimates to measurements of improved business efficiency. MSMEs wish they were true! Realistically, their hopes are pinned to budget especially the ease in access to credit. "
Dr. D. Gandhikumar,
President, FISME
Vol IV, Issue 76: February 18, 2015
IPR awareness programme held in FISME Bangalore Branch
Business Banter: Lessons from Entrepreneurs
5 Ideas To Make Your Startup Fail
Macro Metre
GST will bring down manufacturing costs, say experts
Take India to $20 trillion: India Inc must establish a cadre of innovative companies
Domestic Digest
PM Modi to inaugurate AERO India 2015; focus Make in India Knowledge and News Network (KNN)
Innovative Approaches for MSME'S
Kamath Committee submits report; aims to triple MSME lending to 30 lac crore Knowledge and News Network (KNN)
State Scan
W Bengal govt reviewing policies to improve MSMEs Knowledge and News Network (KNN)
Bonanza for MSMEs: Uttarakhand unveils its first policy for MSMEs Knowledge and News Network (KNN)
World Watch
Canadian delegation to visit India to boost biz ties
India, Maldives discuss ways to boost bilateral ties
Canadian delegation to visit India to boost biz ties
Knowledge Store
Test. Analyze. Optimize. Maximize. Repeat. A Marketing Mantra for Small Business
What is Inbound Marketing and How Can it Help Indian SMEs Get More Business Online?
Two bankers from IIT Kanpur create a Mandii for SME financing
...And A Lot More

IPR awareness programme held in FISME Bangalore Branch

FISME Bangalore Branch office in co-ordination with COWE (Confederation of Women Entrepreneurs conducted an IPR Awareness Programme on Saturday the 14th February 2015 for budding women entrepreneurs. The programme was inaugurated by Ms. Ruparani, Chairperson, COWE, Bangalore. The programme started off with a welcome speech by Ms Shwetha Rao, Deputy Secretary and brief introduction of FISME by Ms Dorothy Saldanha, FISME, Bangalore branch. This was followed by a knowledge share session on IPR by Ms Poornima Ganesh - IPR consultant, an engineering graduate with a degree in law and experience of nineteen years in the field of IPR, spoke on various topics of IPR - patents , trademarks , Industrial designs , registration of patents , Govt schemes , and IP audit etc . As it was an interactive session, participants found it very informative and showed keen interest on the subject and wanted the session to be conducted for a whole day. Ms Dorothy Saldanha and Ms Shwetha Rao form FISME Bangalore branch proposed the vote of thanks to the participants and the speaker.
Business Banter: Lessons from Entrepreneurs

5 Ideas To Make Your Startup Fail

As a serial entrepreneur and a co-organiser of a crowd sourced startup ecosystem enabler, I often meet wannabe entrepreneurs who want to quit their jobs and do something cool. They are either bored in their jobs, not paid what they think they deserve, lack work-life balance etc etc. They believe that entrepreneurship provides a romantic path to freedom, an escape from the monotony of being a worker bee. There might be some truth to these visions, but I am not going to dwell on that. The purpose of this article is to share some perspective - based on my own experiences - on what not to do when you are starting up and how not to get carried away. Here are five common fallacies that could spell trouble for your business.
Writing on the Wall

Economic Growth

What figures hide

(By Express News Service | February 12, 2015)

IIP numbers (barely 2.2 per cent year-on-year increase during April-November), excise revenue collections (just 0.2 per cent growth in April-December), no signs of an investment revival and a poor year for agriculture. Then where is the 7.4 per cent growth — on top of the 6.9 per cent in 2013-14 — coming from?

New measures capture larger chunk of value-added chain in manufacturing

Media Monitor

Macro Metre

GST will bring down manufacturing costs, say experts

The roll-out of the Goods and Services Tax regime in 2016 will bring down the manufacturing costs, besides re-defining the logistics landscape of India, say industry and trade leaders. Although there are still some apprehensions and issues to be sorted out, the Centre is keen on pushing ahead with this major tax reform, which was proposed in 2007, when an initiative was taken to examine the feasibility of replacing the current multiple taxes by a single tax structure. Trade body Assocham today organised a meeting with stakeholders to clear some of these apprehensions and highlight the major benefits that the proposed GST will provide to the industry.

Fundamentals of economy must be improved to attract FDI: Rajeev Kher

Efforts to increase foreign direct investments (FDI) and improve ease of doing business can boost manufacturing only if fundamental aspects of economic development such as infrastructure availability, cost of capital and land acquisition are addressed, Commerce Secretary Rajeev Kher said. “The first layer of issue that needs to be addressed remains consistent and should be addressed as soon as possible. That is what the government is taking as a challenge,” Kher said speaking at a CII conference on expanding India’s share in the world trade and the role of manufacturing sector in it on Tuesday. The Commerce Secretary said the revival of manufacturing can’t be pegged to the growth in exports. He said the prospects of domestic manufacturing have to be connected with the prospects of domestic consumption.

Take India to $20 trillion: India Inc must establish a cadre of innovative companies

The economic progress of any nation is closely entwined with the aspirations and capabilities of its corporate sector. That's why the success of India is inseparable from the success of India Inc. Economic juggernauts like the US and Germany owe their prosperity to a cadre of companies that, decade after decade, took the lead in staking out the future. GE, Ford, Procter & Gamble, Amazon, Apple, Google, Siemens, Airbus, BMW and SAP are just a few of the leading American and European companies that have created enormous wealth for their countries while addressing global needs. In the developing world Haier and Alibaba in China, along with Hyundai and Samsung in Korea, are other examples of ambitious contenders who parlayed national strengths into global success.

Domestic Digest

Innovative Approaches for MSME'S

“Creation of job opportunities is vital not only for economic reasons, but politically too. On the social front too, employment generation is a critical factor, and the MSME sector can contribute a lot to attain this target,” said Tom Jose, Additional Chief Secretary, Department of Labour and Skill Development, Government of Kerala. Talking on ‘Issues Concerning MSMEs’ at the Business Standard Smart Business conclave at Thiruvananthapuram, organized in association with the Trivandrum Chamber of Commerce and Industries (TCCI), he said that India could have focussed more on small and micro units.

PM Modi to inaugurate AERO India 2015; focus Make in India

Defence manufacturing and airport infrastructure besides aerospace, defence and civil aviation are some of the several sectors which will be a part of Aero India-2015 , the 10th international edition of the aerospace and aviation exhibition in Bengaluru. AERO India, one of the largest premium airshows in Asia will be inaugurated by Prime Minister Shri Narendra Modi. This will be held from February 18-22. Over 600 companies and CEOs of around 300 Indian and foreign industries are expected to participate in the show. Besides Karnataka, Gujarat and Andhra Pradesh which will have Special Economic Zone (SEZ) pavilions, heads and representatives from the Indian armed forces and paramilitary forces, a record number of small and medium enterprises are also attending the event.

Exporters wish for tax sops in Union Budget-2015

At a time when global competition is becoming serious and orders are being lost on razor thin margins the exporters of the country are wishing for some rebate in various taxes including upcoming GST, service tax and on the direct tax front in the forthcoming Union Budget 2015-16, said an apex exporters body, Federation of Indian Export organization (FIEO). Speaking to SME Times about their wish-list for upcoming Union Budget-2015, the Director General, FIEO, Ajay Sahay said, "We are looking at a road map for GST, which may come in 2016 or 2017. But we want that at least a milestone should be decided for now and we should move towards those rates, which we want to achieve. And from export sector we want that all the state taxes may be brought under the state GST so that there is complete rebating for exports otherwise at the moment the draft, which have been circulated, does not cover all the taxes. for example the electricity duty, the sales tax on diesel and petroleum products these are not covered under the state GST."

Handicraft exporters take e-commerce route to tap domestic market

Eyeing a pie of growing e-commerce sector in the country, handicraft exporters are joining hands with big portals to tap the domestic market. “There is a huge demand of handicraft products in India and e-commerce portals are the best medium to tap those consumers. Several of the handicraft players are joining hands with e-commerce companies,” Export Promotion Council for Handicrafts (EPCH) Vice-Chairman Rajesh Kumar Jain told PTI here. He said at a time when the global economic situation is not in a healthy state, domestic market offers huge opportunities for exporters. “Flipkart and Snapdeal are good platforms where we can sell our goods in India,” he said. India’s handicraft exports declined by about 10 per cent year-on-year in January to $120 million.

Kamath Committee submits report; aims to triple MSME lending to 30 lac crore

The Committee on developing financial architecture for MSMEs, headed by Chairman of ICICI Bank, KV Kamath has proposed a financial architecture to take MSME lending from the current level of rupees 10 lac crore to 30 lac crore. The Committee which was set up last year by Department of Financial Services, Ministry of Finance, has submitted its report to the government few days ago. Besides Kamath as Chairman, the members of the committee included secretaries of DIPP, MSME, Skill Development and Entrepreneurship, CMDs from banks, representatives of FISME among others.
State Scan

West Bengal    

W Bengal govt reviewing policies to improve MSMEs

MSME and T Department, Government of West Bengal has commissioned a study to examine various Acts and Rules and related compliance procedures relevant for the micro, small and medium enterprises (MSMEs) in the state. “KPMG has been engaged as the advisory consultant for this study, which is aimed to identify redundancy, duplication, overlap and complexity in the existing Acts and Rules and subsequently to simplify the same with a progressive approach suggesting desired amendments leading to improvement in the case of doing business in Bengal,” said a notification from FOSMI.


Bonanza for MSMEs: Uttarakhand unveils its first policy for MSMEs

With an aim to end outward migration, encourage entrepreneurship and to effect an inclusive development in the state, specifically in the remote and flood hit hill areas, the Uttarakhand Government announced its first micro, small and medium enterprises policy. The Policy includes various incentives like capital investment subsidy, interest subsidy and VAT reimbursement. Sudhir Nautiyal, additional director, department of MSME said that the policy shall remain in force until March 31, 2020, though the incentives can be availed of until March 31, 2025. Under the policy the state has been divided into four major categories.
World Watch


US Chamber Releases 3rd Annual International IP Index, India ranks 29th

The US Chamber of Commerce’s Global Intellectual Property Center (GIPC) released its third annual International IP Index, 'UP: Unlimited Potential' which found that 20 of the 30 economies examined in the Index improved their scores from last year. "Twenty nations improved their score in the 2015 IP index, showing that leaders in both developing and developed economies increasingly recognize the connection between effective intellectual property protection and achieving their greatest economic potential." said president and CEO of GIPC, David Hirschmann. The 2015 edition of the Index ranks 30 economies around the world, representing 80 percent of the world's gross domestic product (GDP). The index is based on 30 measurable criteria critical to innovation including, patent, copyright and trademark protections, enforcement, and engagement in international treaties.


Canadian delegation to visit India to boost biz ties

A high-level delegation led by Canada's Associate Deputy Minister of Finance Tim Sargent will visit India this week to take part in a bilateral summit aimed at strengthening trade and economic ties between the two nations. The India-Canada Economic and Financial Sector Policy Dialogue, which will be held on February 13 in New Delhi, will see both countries making joint commitment to building strong bilateral relationship and giving fillip to investments. From Indian side, Additional Secretary in Department of Economic Affairs Dinesh Sharma will lead the delegation, the High Commission of Canada said in a statement. Sargent will be joined by high level officials from Finance Canada, the Bank of Canada, the Office of the Superintendent of Financial Institutions (OSFI), the Canada Deposit Insurance Corporation and the Financial Consumer Agency of Canada, it added.


India, Lanka sign pact on nuclear energy

India and Sri Lanka on Monday expressed their commitment to unlocking the vast potential for economic cooperation between the two nations. The commitment was made after an official meeting between visiting Sri Lankan President Maithripala Sirisena and Prime Minister Narendra Modi here during which the two nations signed four agreements, including one on ‘Peaceful uses of nuclear energy’. Addressing the media, Modi expressed his support for a more balanced growth in trade between the two countries. “I conveyed our readiness to promote greater flow of Indian investment and tourists into Sri Lanka. We discussed expansion of cooperation in the energy sector, both conventional and renewable. Our commerce secretaries will meet soon to review our bilateral commercial relations,” the Prime Minister said.


India, Maldives discuss ways to boost bilateral ties

External Affairs Minister Sushma Swaraj today met her Maldivian counterpart Dunya Maumoon today during which they reviewed the developmental projects in the island nation and also the possible agenda for a likely visit of Prime Minister Narendra Modi there. Maumoon, who is on a private visit here, met Swaraj and discussed ways to boost the bilateral ties and maritime cooperation. "Ocean diplomacy. Maritime neighbours India-Maldives to strengthen ties as they commemorate 50 years of relations," tweeted the spokesperson of the External Affairs Ministry.
Upcoming Events

Intellectual Property - Awareness Programs

Date: December-February
Venue: Hyderabad, Chennai, Bangalore, Lucknow

Awareness Programme on QMS/QTT

24th February, 2015 Meerut
27th February, 2015 Bhiwadi

Delegation to TIMITOS-25th edition, Taipei, Taiwan

Date:2nd – 6th March 2015

Inception Workshops on Promotion of Regional Value Chains in SAARC countries

4th March, Coimbatore
11th March, Colombo, Sri Lanka
Other Events

India Software Engineering Conference

Date: 18th -20th February 2015
Venue: Radha Regent, Bangalore, India
See Details

Aero India

Date: 18th-22nd February 2015
Venue: Yelahanka Air Base, Bangalore, India
See Details

International Industrial Expo & Conferences Chandigarh

Date: 19th-22nd February 2015
Venue: Exhibition Ground Chandigarh, Chandigarh, India
See Details


Date: 20th-23rd February 2015
Venue: India Expo Centre and Mart, Greater Noida, India
See Details

The Furniture Fair Hyderabad

Date: 20th-23rd February 2015
Venue: Hyderabad International Trade Exposition, Hyderabad, India
See Details

Surat International Auto Expo

Date: 20th -23rd February 2015
Venue: Surat International Exhibition & Convention, Surat, India
See Details

North India Solar Summit NISS2015

Date: 20th -22nd February 2015
Venue: Indian Institute of Sugarcane Research, Lucknow, India
See Details


Date: 21st-23rd February 2015
Venue: Milan Mela Exhibition Complex, Kolkata, India
See Details

India Expo- Hyderabad

Date: 25th February 2015
Venue: Venue to be announced, Hyderabad, India
See Details

India India Steel 2015 (2nd International Exhibition & Conference on Steel Industry)

Date: 16th April–18th April 2015
Venue: Mumbai Exhibition Centre, Mumbai, India
See Details
Your Views

Will the $1 Billion Assistance for Indian MSMEs by the US Government’s business development and finance arm really reach out to the Indian MSMEs ?

According to the FISME Factor, 44% of MSMEs think that the $1 Billion Assistance for Indian MSMEs by the US Government’s business development and finance arm will reach out to the Indian MSMEs while an equal number are apprehensive about it. The rest 12% disagree with this.
Knowledge Store

HR Heuristics

Managing Your Greatest Asset: HR Principles for Small Business

We’re all busy people, which is why the Small Business Success Library of books is a great way to get your hands on a lot of information vital to your success in easy bite-sized pieces. If you’ve been in business for any length of time, you’ve likely heard it said that your people are your most important asset.

Finance Fundamentals

Ten ways small business owners can improve their financial literacy

As a small business owner, a deep understanding of your company’s financial situation drastically improves your chance of long-term success. When you know exactly where you stand in terms of your financials, you can plan for the future and avoid common financial management pitfalls.

Marketing Mantras

Test. Analyze. Optimize. Maximize. Repeat. A Marketing Mantra for Small Business

Successful marketing campaigns are nurtured, not born. Luckily, there are unprecedented resources and technology available for small and medium-sized businesses (SMBs) like yours to make the most of your advertising and marketing investments.

Policy Polemic

Interim report of Vishwanathan Committee on bankruptcy; MSMEs disappointed

The Bankruptcy Law Reform Committee (BLRC), set up by the Department of Economic Affairs, Ministry of Finance, under the Chairmanship of Mr T K Vishwanathan, has proposed setting up Committees for distressed Micro, Small and Medium Enterprises (MSMEs).

SME Special

Two bankers from IIT Kanpur create a Mandii for SME financing

According to a study conducted by the International Finance Corporation, access to finance remains a key constraint to SME development in emerging economies. Small firms rely on internal financing much more than large firms and the likelihood of small firms having access to a bank loan in low-income countries is about a third of what it is for a medium-sized firm and less than half of what it is for a larger firm.

Success Story

‘When I had no food and only Rs 50 in my pocket’ – a moving story of an entrepreneur

Whenever I close my eyes and think back, there is one memory that takes me down a lane in my past. I am sitting in my room in a flat in Zirakpur and have no money for dinner. In my pocket there is a Rs 50 note, which is all I have.


The Central Statistical Office (CSO) released the Provisional indices for the month of January 2015 and also the final indices for December 2014.

Quotable Quotes

“Mom & pop stores are not about something small; they are about something big. Ninety percent of all U.S. businesses are family owned or controlled. They are important not only for the food, drink, clothing, and tools they sell us, but also for providing us with intellectual stimulation, social interaction, and connection to our communities. We must have mom & pop stores because we are social animals. We crave to be part of the marketplace. ”
- Robert Spector, Author of business books, Consultant and Motivational Speaker
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.
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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New Members

5 New Members Join FISME

During the period from 1st to 15th February 2015 a total of 5 new MSME became members of FISME.
Editorial Team:
Hon. Editor: Anil Bhardwaj
Asstt. Editor: Sunila Sharma
Ediotrial Assistant: Kalpana Sharma
Types setting & websdesigning: Sanjay Sachan  
Video & Photography:  Pramod Poddar


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