If you are unable to view this mailer, click here.
President's Message
" India's industrial output continues to slide down wards. It shrank by 0.6 percent in December. The output in the capital goods segment which indicates investment demand in the economy contracted by 3%. Unfortunately, the visibly weak governance has exacerbated the negative sentiments already prevailing with general elections being around the corner. MSMEs have to brace for couple of tough quarters ahead. "
A 15 member business delegation from India comprising members of Federation of Indian Micro and Small and Medium Enterprises (FISME) arrived Karachi on 11th February on business tour after visiting Islamabad and Lahore.
FISME jointly organized a Seminar with Karachi Chamber of Commerce and Industry on ‘Trade opportunities between Pakistan and India’ on 12th February 2014 where exporters of both the countries shared their experiences.
Besides the huge delays in getting business visa, restrictions of visiting scheduled cities and police reporting, visiting businessmen face a lot of difficulty in communication as SIM cards of one country would not function in another country.
The slow economic growth in India and Pakistan notwithstanding, the Small and Medium Enterprises (SMEs) are upbeat on exploring trade opportunities in each other's countries.
A fifteen member delegation from Federation of Indian Micro Small and Medium Enterprises (FISME) is currently in Lahore meeting their counterparts through the Lahore Chamber of Commerce.
“The members of the delegation are completely floored by the warm hospitality of Pakistanis,” said Mukesh Kalra a FISME official accompanying the delegation.
Echoing similar sentiments, entrepreneur from Faridabad A K Nehra, who is also with the delegation said that after visiting Lahore and the industrial areas run by Punjab Industrial Estates (PIE) his perception has changed dramatically about the neighbouring country.
The Annual review meeting of the South Asian Association for Regional Cooperation – Trade Promotion Network (SAARC -TPN)was held at Colombo, Sri Lanka from 29th to 31 st January, 2014. Representatives from the 28 member institutions, both Government and Private, from the 7 SAARC countries of Afghanistan, Bangladesh, Bhutan, India, Nepal, Pakistan and Sri Lanka. Maldives representatives could not attend the meeting. India was represented by FISME.
The SAARC Trade Promotion Network (SAARC-TPN) is a group of 28 key public and private-sector institutions responsible for trade-related issues from all eight SAARC member countries. SAARC-TPN aims to promote intra-regional trade potential in SAARC through Trade Information Portal, Business to Business (B2B) approaches, Quality Infrastructure, Trade promotion for Small and Medium Enterprises, and Regional Trade Facilitation.
- Mark Cuban, owner of the National Basketball Association's Dallas Mavericks and the chairman of the HDTV cable network AXS TV
“I think passion is overrated. Everyone has a lot of passions. I have a passion for sports – a passion for music. That doesn’t make it a business, and that doesn’t make you qualified to run the business.”
It’s hard to knock these folks. Their passion and emotion is well-intended and is frankly admirable in our day of “overwhelming meh” aloofness. Ideally, you should love doing the thing you’re trying to make money at. But passion isn’t enough. Just like hustling can’t transform a sow’s ear into a purse, if nobody wants your product or service, passion in spades won’t magically turn your business into a success. In fact, that unchecked passion can blind you to warning signs that you’re on a sinking ship before you know it, you’ve invested years of your life and thousands of dollars into an emotionally and financially costly failure.
[Adapted from 9 Lessons in Entrepreneurship from Shark Tank]
The ambitious National Manufacturing Policy (NMP) seeks to make India a global leader in manufacturing. Unveiled in 2011, the NMP envisions that the share of manufacturing will increase from the current 16 per cent to 25 per cent of the GDP by 2022, besides creating 100 million new jobs. The policy emphasises the establishment of Chinese-style mega-industrial corridors, national investment and manufacturing zones and connecting major commercial centres, like the seven industrial cities being planned along the Delhi-Mumbai freight corridor.
[Adapted from the Indian Express, Opinion Section]
After recording a smart increase in 2011-12, the MSME exports dropped in 2012-13 as the global markets witnessed demand compression for most of the products shipped by the entrepreneurs in the small scale sector.
The MSME exports in 2012-13 aggregated USD 128.16 billion dropping from USD 131.48 billion in the previous year, as per the information provided by Minister for MSME, K H Muniyappa in the Lok Sabha today.
“The main markets of 20 most exported MSME product groups, which constituted more than 91 per cent of MSME exports during 2010 -13 included USA, European Union (EU), UAE, Australia, Turkey, Russia, Indonesia, Singapore, Sri Lanka, South Africa, Hong Kong, and Israel,” official data said.
The Reserve Bank will soon be coming out with a set of norms for a dedicated exchange for trade receivables that can help smaller businesses tide over liquidity issues, Governor Raghuram Rajan today said.
"The RBI has been dicussing with market participants how to do this, and in a very short while, we should have the structure in place," he said, addressing the annual gathering of apex IT industry body Nasscom here.
Rajan said the big businesses squeeze the smaller ones when it comes to payments, creating difficulties for the latter.
Therefore, if the small business owner is able to raise money against the receivable, it will be much better for the business, he said, adding an exchange can help bring down the cost of such transactions through automation.
Finance Minister P Chidambaram said today banks must be stern with wilful loan defaulters but should be sympathetic to those who are genuinely caught in business downturn.
Addressing the Indian Overseas Bank function here, the Finance Minister said banks must “identify wilful defaulters, take stern steps to recover loans from wilful defaulters even while helping others who are genuinely caught in business downturn to recover so that they can pay the loans in course of time.”
He reiterated that wilful defaulters cannot be shown leniency.
The powerloom sector plays a vital role in catering to the basic needs of people by producing and supplying cloth for various textile segments namely apparel upholstery, industrial, agricultural, technical textiles etc.
In tandem with the demand from end users, the powerloom sector has been growing in terms of installed and working capacity.
The growth of powerloom sector is augmented by various incentive schemes launched by the Government for Technology Upgradation, setting up of Group Worksheds, Integrated Textile Parks, Skill development etc.
Reversing the policy of the previous government of phasing out of industry from the national capital, Chief Minister Arvind Kejriwal, today pledged to make industry as the engine of employment creation in Delhi.
Addressing a large gathering of representatives of industry associations at FICCI auditorium here, he earnestly sought the suggestions from associations for developing a long term vision for industry and also to put in place an enabling policy framework.
As an important initiative to help the start-ups access financial markets, the BSE SME today launched Institutional Trading Platform (ITP) which enables such entrepreneurs to list in the market without IPO. Jaysukh Deal became the first company to get listed on ITP and its share was quoted at Rs 40 each in the last price and the trading turnover was Rs 20 lakh.
The market regulator SEBI has already issued the required guidelines for enabling the stock listing on the bourses without IPO.
The benefits which can accrue from such exercise include easy entry and exit options for angel investors, venture capital funds and private equities from the start-ups.
National Research Development Corporation (NRDC) is organising an industry meet to promote industry-centric technologies in agriculture and allied sections.
Supported by the Department of Scientific and Industrial Research, Ministry of Science and Technology in collaboration with MSME Development Institute and KASSIA (Karnataka Small Scale Industries Association), the industry meet will be held here on February-12.
While the inaugural address will be given by Chairman and Managing Director, National Research Development Corporation, Rajendra Dobhal, there will be special addresses by Director, MSME DI, S N Ranga Prasad and President, KASSIA, B P Shashidhar.
India’s port capacity is at a dismal low and what is worse is that there are no major projects for expansion of the existing capacity, a parliamentary panel said today, expressing concern over the overall performance of the port sector.
In its report, the Parliamentary Standing Committee on Transport, Tourism and Culture noted that there are several issues of mismanagement at the Kolkata Port and Haldia Dock System, while the capacity of the Dredging Corporation most remains unutilized.
The infrastructure bottleneck mainly in the port sector remains a bane of the country’s global trade, adding to the avoidable transaction cost.
Credit deployment in the medium scale enterprises remains in the negative in the current financial year up to November reflecting slowdown in the economy. The deployment of credit in the sector is (-) 0.9 per cent for the period under review.
The Year on Year (YOY) credit deployment in November, 2013 over the same month in 2012 was even worse showing de-growth of 5.1 per cent.
The gross credit deployment in the micro and small scale sector up to end November in the current Financial Year was 10.6 per cent, less than half of 22 per cent growth witnessed YOY in November, according to RBI data on sectoral deployment of bank credit.
In respect of MSMEs, Non-Banking Finance Companies (NBFCs) can become game changers by providing factoring and bill payment services which are of crucial importance at the present juncture of financial sector development, said Executive Director, Reserve Bank of India (RBI) P Vijaya Bhaskar.
In this regard, NBFCs can play a vital role going forward, in closing the loop with reference to financial inclusion for individuals and MSMEs.
The Reserve Bank chief said that a large segment in the micro and small industries sector does not have access to formal credit which provides a window of opportunity for the NBFCs to design suitable innovative products.
Goa with three billion tonnes of iron ore reserves is likely to resume mining before July-August, Chief Minister Manohar Parrikar said today.
Addressing an industrial conference here Parrikar said the iron ore reserves in the state have gone up following permission from the Indian Bureau of Mines to explore lower grades of the ore.
The iron ore exploration and production had stopped in Goa following a ban on the same by the Supreme Court.
Goa is credited for having pioneered the exports of iron ore from India. It exports 70.08 per cent of India's Iron Ore, the 2011 iron ore exports being 43.27 million tonnes per annum.
In an initiative to improve productivity and provide farmers the village level basic infrastructure for post-harvest handling, the Maharashtra government has proposed to improve its agricultural market operations.
It wants to establish producers associations to form farmers common service centres (FCSC) in certain parts of the state under the World Bank programme - Maharashtra Agricultural Competitive Project (MACP).
It will soon be appointing consultants for linking producer groups to forward market linkage and formation of producers associations.
South African High Commissioner to India France Morule has evinced interest in setting up agro-processing joint ventures in Punjab, especially in packaging and marketing kinnow juice, since the state is a major producer of kinnow and South Africa, too, is a leader in the production of citrus fruits, besides having a substantial fruit processing sector.
Morule has invited state Chief Minister P S Badal to lead a business delegation to South Africa to explore the potential in agriculture, coal, food processing, textiles and hosiery because, with South Africa being a duty free zone, there is potential to export from there to other parts of the world.
The Uttarakhand Jal Vidyut Nigam Limited (UJVNL) wants to improve the functions of the hydroelectric Chilla Power station with an expense estimated at Rs 315.88 crore.
It will soon repair the ring main unit (RMU) of the station by taking up various initiatives like dismantling, reverse engineering, design, refurbishment of old equipment, manufacturing and the supply of the new equipment, pre-commissioning test, commissioning work of EM and TRCM and post commissioning works.
Towards this, the corporation has invited bids from supplying agencies to be service providers.
The Paschimanchal Vidyut Vitran Nigam Limited (PVVNL), a power distribution company for the Western Uttar Pradesh today unveiled its plan to bring down transmission losses and improve power supply to consumers in a host of districts in the region.
Under the initiative, the discom would be installing modern technology such as SCADA compatibility in its network in the districts of Meerut, Ghaziabad, Bijnor, Moradabad etc.
The initiative is a part of the Restructured Accelerated Power Development and Reforms Program Scheme (R-APDRP) of the central government being implemented since the 10th five year plan.
India and Zimbabwe will enhance their cooperation in the priority sectors of pharmaceuticals, infrastructure, health sector, small and medium industries.
This was agreed during a bilateral meeting between Commerce and Industry Minister Anand Sharma and Zimbabwe’s Vice President Joice Mujuru and Industry and Commerce Minister Michael Bimha in Harare yesterday.
During the discussion, it was decided to speed up the implementation of various projects being executed under the India-Africa Forum Summit Programme, which include a food testing laboratory, a rural training park and a vocational training centre.
In a bid to become a preferred business partner of India, the UK India Business Council (UKIBC) and UK Trade and Investment (UKTI) are forming a joint panel to help small British companies improve access to the Indian markets.
“We are taking many steps to encourage more British companies do business with India,” said UK Minister for Trade and Investment, Lord Livingston recently.
“To help more small UK companies to get more business in India, UKTI, UKIBC and the British Business Groups across India are all engaged in making it easier for businesses to get the support they need,” said a UKIBC newsletter quoting him.
The UK Government’s Department for International Development (DFID) would provide an assistance of 230 million pounds (about Rs 2,400 crore) in the form of loans for providing finance to the SME sector in West Bengal.
UK minister of state for energy, climate change and business engagement with India, Greg Barker told reporters that the money would be routed through institutions like SIDBI and nationalised banks which in turn would extend funds to the SME sector.
The United States has filed a case at the World Trade Organisation, accusing India of adopting discriminatory measures that stipulate domestic content requirement (DCR) for solar producers.
“In a communication received on 11 February 2014, the United States notified the WTO Secretariat of a request for consultations with India concerning certain measures relating to domestic content requirements for solar cells and solar modules. The measures correspond to Phase II of the Jawaharlal Nehru National Solar Mission programme,” said a WTO news item yesterday.
India had adopted the Jawaharlal Nehru National Solar Mission programme to promote development of solar power generation facilities.
Withdrawal of pre-2005 notes will help unearth black money
According to the FISME Factor, 61 per cent of the Micro, Small and Medium Enterprises (MSMEs), think that withdrawal of pre-2005 notes will help unearth black money.
Why evaluating employee performance is a top priority
Sure, founding a start-up can give you a heady adrenaline rush, and most newbies plunge head-first into business development, improving their offerings and, of course, piecing together an exciting and effective marketing strategy.
If these are your only priorities, then you run the risk of falling prey to the Achilles' Heel of first-time entrepreneurs. It goes by the boring name of 'employee evaluation'. But, boring or not, any seasoned entrepreneur will tell you just how crucial it is to have a loyal and motivated team. And one way to make sure you have a team that truly shares your vision is by putting in place an effective and well-structured employee evaluation process.
Technology, healthcare top VC funding list in 2013
Investment trends for 2013 have revealed a shift in venture funding. While some trends are intriguing, others are worrying results, depending on the sector you’re in.
Taking a big bite out of the venture capital pie was restaurant chain Barbeque Nation, which cracked a $20-million deal. However, sectors that led the pack were information technology and allied companies as well as healthcare companies, especially niche hospital chains. More than three quarters of the investments made in 2013 were in these two sectors, according to Venture Intelligence, a division of TSJ Media, a data and analytics provider that focuses on private firms.
Big boost for small businesses: FB rolls out tools for SMEs
Here's something many businesses in India probably don't know but should -- India is poised to have the highest number of Facebook users in the world by 2015. So for small and medium businesses (SMBs) yet to leverage the social media giant's strengths and reach, this fact alone should serve as a call-to-action.
Of course, it's not enough to simply 'have a Facebook business page'. If you really want Facebook to work for you, you have to work the platform to win friends and influence people. To sweeten the experience for SMBs, Facebook is developing products and tools aimed specifically at the small entrepreneur. These products are designed to make the platform more intuitive and easier to use.
Policy uncertainty, liquidity crisis hit Noida realty business
Policy uncertainty, liquidity crisis hit Noida realty business
Fast-approaching parliamentary elections leading to policy uncertainty and liquidity crisis in the economy has started showing its impact in the Noida realty market. The market has been stagnant for the last six months and is expected to be the same till the Lok Sabha elections are over.
Anil Kumar Sharma, president, CREDAI, NCR chapter said, "Political uncertainties tend to force investors to postpone their investment plans till the polls. It is compelling investors to postpone large deals or significant investment plans.
Cabbie prompts e-learning start-up to take the plunge
Vivek Agarwal and Sridevi are not acquainted with each other but the entrepreneur has a lot in common with the popular Bollywood star. Just like the actress, Agarwal's clients no longer speak 'English Vinglish' but coherent, conversational English that is helping them get ahead.
It doesn't teach the Queen's English but Agarwal's e-learning solution isn't designed for that. Instead, it is helping children learn the language in schools and colleges, and young men and women climb the corporate ladder. After all, English has become the global language of academia, business and commerce. That's why Agarwal's e-learning solution is called EnglishEdge.
How IITian Rahul Gupta built RaysExperts, a multi-crore solar power company in less than 3 years
In 2009, Rahul Gupta was worried that his marks would rule out a job during campus placements at IIT Roorkee. So, instead of preparing for interviews, he sat reading a newspaper in his room, whereby he came across an article on the setting up of a solar plant in Amritsar.
By the time he finished reading it, he was convinced that solar power was his calling. Since the last semester was relatively relaxed, he devoted his time to conducting research on the sector.
" Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. "
- Steve Jobs, Apple Inc. co-founder, chairman and CEO
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.
PP: 894, Hard Cover.
Price: Rs 900.
50% discount for members.
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.
send mail to: newsletter@fisme.org.in
You are receiving this Newsletter because you are included in our mailing list of recipients who are involved or interested in FISME or Indian MSMEs. You are welcome to partly or fully reproduce and disseminate the contents of this publication provided that you acknowledge the source.
This Newsletter is edited by the FISME Secretariat. We welcome contributions as well as comments and suggestions. Please write to newsletter@fisme.org.in
" India's industrial output continues to slide down wards. It shrank by 0.6 percent in December. The output in the capital goods segment which indicates investment demand in the economy contracted by 3%. Unfortunately, the visibly weak governance has exacerbated the negative sentiments already prevailing with general elections being around the corner. MSMEs have to brace for couple of tough quarters ahead. "
A 15 member business delegation from India comprising members of Federation of Indian Micro and Small and Medium Enterprises (FISME) arrived Karachi on 11th February on business tour after visiting Islamabad and Lahore.
FISME jointly organized a Seminar with Karachi Chamber of Commerce and Industry on ‘Trade opportunities between Pakistan and India’ on 12th February 2014 where exporters of both the countries shared their experiences.
Besides the huge delays in getting business visa, restrictions of visiting scheduled cities and police reporting, visiting businessmen face a lot of difficulty in communication as SIM cards of one country would not function in another country.
The slow economic growth in India and Pakistan notwithstanding, the Small and Medium Enterprises (SMEs) are upbeat on exploring trade opportunities in each other's countries.
A fifteen member delegation from Federation of Indian Micro Small and Medium Enterprises (FISME) is currently in Lahore meeting their counterparts through the Lahore Chamber of Commerce.
“The members of the delegation are completely floored by the warm hospitality of Pakistanis,” said Mukesh Kalra a FISME official accompanying the delegation.
Echoing similar sentiments, entrepreneur from Faridabad A K Nehra, who is also with the delegation said that after visiting Lahore and the industrial areas run by Punjab Industrial Estates (PIE) his perception has changed dramatically about the neighbouring country.
The Annual review meeting of the South Asian Association for Regional Cooperation – Trade Promotion Network (SAARC -TPN)was held at Colombo, Sri Lanka from 29th to 31 st January, 2014. Representatives from the 28 member institutions, both Government and Private, from the 7 SAARC countries of Afghanistan, Bangladesh, Bhutan, India, Nepal, Pakistan and Sri Lanka. Maldives representatives could not attend the meeting. India was represented by FISME.
The SAARC Trade Promotion Network (SAARC-TPN) is a group of 28 key public and private-sector institutions responsible for trade-related issues from all eight SAARC member countries. SAARC-TPN aims to promote intra-regional trade potential in SAARC through Trade Information Portal, Business to Business (B2B) approaches, Quality Infrastructure, Trade promotion for Small and Medium Enterprises, and Regional Trade Facilitation.
“I think passion is overrated. Everyone has a lot of passions. I have a passion for sports – a passion for music. That doesn’t make it a business, and that doesn’t make you qualified to run the business.”
It’s hard to knock these folks. Their passion and emotion is well-intended and is frankly admirable in our day of “overwhelming meh” aloofness. Ideally, you should love doing the thing you’re trying to make money at. But passion isn’t enough. Just like hustling can’t transform a sow’s ear into a purse, if nobody wants your product or service, passion in spades won’t magically turn your business into a success. In fact, that unchecked passion can blind you to warning signs that you’re on a sinking ship before you know it, you’ve invested years of your life and thousands of dollars into an emotionally and financially costly failure.
The ambitious National Manufacturing Policy (NMP) seeks to make India a global leader in manufacturing. Unveiled in 2011, the NMP envisions that the share of manufacturing will increase from the current 16 per cent to 25 per cent of the GDP by 2022, besides creating 100 million new jobs. The policy emphasises the establishment of Chinese-style mega-industrial corridors, national investment and manufacturing zones and connecting major commercial centres, like the seven industrial cities being planned along the Delhi-Mumbai freight corridor.
After recording a smart increase in 2011-12, the MSME exports dropped in 2012-13 as the global markets witnessed demand compression for most of the products shipped by the entrepreneurs in the small scale sector.
The MSME exports in 2012-13 aggregated USD 128.16 billion dropping from USD 131.48 billion in the previous year, as per the information provided by Minister for MSME, K H Muniyappa in the Lok Sabha today.
“The main markets of 20 most exported MSME product groups, which constituted more than 91 per cent of MSME exports during 2010 -13 included USA, European Union (EU), UAE, Australia, Turkey, Russia, Indonesia, Singapore, Sri Lanka, South Africa, Hong Kong, and Israel,” official data said.
The Reserve Bank will soon be coming out with a set of norms for a dedicated exchange for trade receivables that can help smaller businesses tide over liquidity issues, Governor Raghuram Rajan today said.
"The RBI has been dicussing with market participants how to do this, and in a very short while, we should have the structure in place," he said, addressing the annual gathering of apex IT industry body Nasscom here.
Rajan said the big businesses squeeze the smaller ones when it comes to payments, creating difficulties for the latter.
Therefore, if the small business owner is able to raise money against the receivable, it will be much better for the business, he said, adding an exchange can help bring down the cost of such transactions through automation.
Finance Minister P Chidambaram said today banks must be stern with wilful loan defaulters but should be sympathetic to those who are genuinely caught in business downturn.
Addressing the Indian Overseas Bank function here, the Finance Minister said banks must “identify wilful defaulters, take stern steps to recover loans from wilful defaulters even while helping others who are genuinely caught in business downturn to recover so that they can pay the loans in course of time.”
He reiterated that wilful defaulters cannot be shown leniency.
The powerloom sector plays a vital role in catering to the basic needs of people by producing and supplying cloth for various textile segments namely apparel upholstery, industrial, agricultural, technical textiles etc.
In tandem with the demand from end users, the powerloom sector has been growing in terms of installed and working capacity.
The growth of powerloom sector is augmented by various incentive schemes launched by the Government for Technology Upgradation, setting up of Group Worksheds, Integrated Textile Parks, Skill development etc.
As an important initiative to help the start-ups access financial markets, the BSE SME today launched Institutional Trading Platform (ITP) which enables such entrepreneurs to list in the market without IPO. Jaysukh Deal became the first company to get listed on ITP and its share was quoted at Rs 40 each in the last price and the trading turnover was Rs 20 lakh.
The market regulator SEBI has already issued the required guidelines for enabling the stock listing on the bourses without IPO.
The benefits which can accrue from such exercise include easy entry and exit options for angel investors, venture capital funds and private equities from the start-ups.
National Research Development Corporation (NRDC) is organising an industry meet to promote industry-centric technologies in agriculture and allied sections.
Supported by the Department of Scientific and Industrial Research, Ministry of Science and Technology in collaboration with MSME Development Institute and KASSIA (Karnataka Small Scale Industries Association), the industry meet will be held here on February-12.
While the inaugural address will be given by Chairman and Managing Director, National Research Development Corporation, Rajendra Dobhal, there will be special addresses by Director, MSME DI, S N Ranga Prasad and President, KASSIA, B P Shashidhar.
Credit deployment in the medium scale enterprises remains in the negative in the current financial year up to November reflecting slowdown in the economy. The deployment of credit in the sector is (-) 0.9 per cent for the period under review.
The Year on Year (YOY) credit deployment in November, 2013 over the same month in 2012 was even worse showing de-growth of 5.1 per cent.
The gross credit deployment in the micro and small scale sector up to end November in the current Financial Year was 10.6 per cent, less than half of 22 per cent growth witnessed YOY in November, according to RBI data on sectoral deployment of bank credit.
In respect of MSMEs, Non-Banking Finance Companies (NBFCs) can become game changers by providing factoring and bill payment services which are of crucial importance at the present juncture of financial sector development, said Executive Director, Reserve Bank of India (RBI) P Vijaya Bhaskar.
In this regard, NBFCs can play a vital role going forward, in closing the loop with reference to financial inclusion for individuals and MSMEs.
The Reserve Bank chief said that a large segment in the micro and small industries sector does not have access to formal credit which provides a window of opportunity for the NBFCs to design suitable innovative products.
Goa with three billion tonnes of iron ore reserves is likely to resume mining before July-August, Chief Minister Manohar Parrikar said today.
Addressing an industrial conference here Parrikar said the iron ore reserves in the state have gone up following permission from the Indian Bureau of Mines to explore lower grades of the ore.
The iron ore exploration and production had stopped in Goa following a ban on the same by the Supreme Court.
Goa is credited for having pioneered the exports of iron ore from India. It exports 70.08 per cent of India's Iron Ore, the 2011 iron ore exports being 43.27 million tonnes per annum.
In an initiative to improve productivity and provide farmers the village level basic infrastructure for post-harvest handling, the Maharashtra government has proposed to improve its agricultural market operations.
It wants to establish producers associations to form farmers common service centres (FCSC) in certain parts of the state under the World Bank programme - Maharashtra Agricultural Competitive Project (MACP).
It will soon be appointing consultants for linking producer groups to forward market linkage and formation of producers associations.
The Uttarakhand Jal Vidyut Nigam Limited (UJVNL) wants to improve the functions of the hydroelectric Chilla Power station with an expense estimated at Rs 315.88 crore.
It will soon repair the ring main unit (RMU) of the station by taking up various initiatives like dismantling, reverse engineering, design, refurbishment of old equipment, manufacturing and the supply of the new equipment, pre-commissioning test, commissioning work of EM and TRCM and post commissioning works.
Towards this, the corporation has invited bids from supplying agencies to be service providers.
The Paschimanchal Vidyut Vitran Nigam Limited (PVVNL), a power distribution company for the Western Uttar Pradesh today unveiled its plan to bring down transmission losses and improve power supply to consumers in a host of districts in the region.
Under the initiative, the discom would be installing modern technology such as SCADA compatibility in its network in the districts of Meerut, Ghaziabad, Bijnor, Moradabad etc.
The initiative is a part of the Restructured Accelerated Power Development and Reforms Program Scheme (R-APDRP) of the central government being implemented since the 10th five year plan.
India and Zimbabwe will enhance their cooperation in the priority sectors of pharmaceuticals, infrastructure, health sector, small and medium industries.
This was agreed during a bilateral meeting between Commerce and Industry Minister Anand Sharma and Zimbabwe’s Vice President Joice Mujuru and Industry and Commerce Minister Michael Bimha in Harare yesterday.
During the discussion, it was decided to speed up the implementation of various projects being executed under the India-Africa Forum Summit Programme, which include a food testing laboratory, a rural training park and a vocational training centre.
In a bid to become a preferred business partner of India, the UK India Business Council (UKIBC) and UK Trade and Investment (UKTI) are forming a joint panel to help small British companies improve access to the Indian markets.
“We are taking many steps to encourage more British companies do business with India,” said UK Minister for Trade and Investment, Lord Livingston recently.
“To help more small UK companies to get more business in India, UKTI, UKIBC and the British Business Groups across India are all engaged in making it easier for businesses to get the support they need,” said a UKIBC newsletter quoting him.
The UK Government’s Department for International Development (DFID) would provide an assistance of 230 million pounds (about Rs 2,400 crore) in the form of loans for providing finance to the SME sector in West Bengal.
UK minister of state for energy, climate change and business engagement with India, Greg Barker told reporters that the money would be routed through institutions like SIDBI and nationalised banks which in turn would extend funds to the SME sector.
The United States has filed a case at the World Trade Organisation, accusing India of adopting discriminatory measures that stipulate domestic content requirement (DCR) for solar producers.
“In a communication received on 11 February 2014, the United States notified the WTO Secretariat of a request for consultations with India concerning certain measures relating to domestic content requirements for solar cells and solar modules. The measures correspond to Phase II of the Jawaharlal Nehru National Solar Mission programme,” said a WTO news item yesterday.
India had adopted the Jawaharlal Nehru National Solar Mission programme to promote development of solar power generation facilities.
According to the FISME Factor, 61 per cent of the Micro, Small and Medium Enterprises (MSMEs), think that withdrawal of pre-2005 notes will help unearth black money.
Sure, founding a start-up can give you a heady adrenaline rush, and most newbies plunge head-first into business development, improving their offerings and, of course, piecing together an exciting and effective marketing strategy.
If these are your only priorities, then you run the risk of falling prey to the Achilles' Heel of first-time entrepreneurs. It goes by the boring name of 'employee evaluation'. But, boring or not, any seasoned entrepreneur will tell you just how crucial it is to have a loyal and motivated team. And one way to make sure you have a team that truly shares your vision is by putting in place an effective and well-structured employee evaluation process.
Investment trends for 2013 have revealed a shift in venture funding. While some trends are intriguing, others are worrying results, depending on the sector you’re in.
Taking a big bite out of the venture capital pie was restaurant chain Barbeque Nation, which cracked a $20-million deal. However, sectors that led the pack were information technology and allied companies as well as healthcare companies, especially niche hospital chains. More than three quarters of the investments made in 2013 were in these two sectors, according to Venture Intelligence, a division of TSJ Media, a data and analytics provider that focuses on private firms.
Here's something many businesses in India probably don't know but should -- India is poised to have the highest number of Facebook users in the world by 2015. So for small and medium businesses (SMBs) yet to leverage the social media giant's strengths and reach, this fact alone should serve as a call-to-action.
Of course, it's not enough to simply 'have a Facebook business page'. If you really want Facebook to work for you, you have to work the platform to win friends and influence people. To sweeten the experience for SMBs, Facebook is developing products and tools aimed specifically at the small entrepreneur. These products are designed to make the platform more intuitive and easier to use.
Policy uncertainty, liquidity crisis hit Noida realty business
Fast-approaching parliamentary elections leading to policy uncertainty and liquidity crisis in the economy has started showing its impact in the Noida realty market. The market has been stagnant for the last six months and is expected to be the same till the Lok Sabha elections are over.
Anil Kumar Sharma, president, CREDAI, NCR chapter said, "Political uncertainties tend to force investors to postpone their investment plans till the polls. It is compelling investors to postpone large deals or significant investment plans.
Vivek Agarwal and Sridevi are not acquainted with each other but the entrepreneur has a lot in common with the popular Bollywood star. Just like the actress, Agarwal's clients no longer speak 'English Vinglish' but coherent, conversational English that is helping them get ahead.
It doesn't teach the Queen's English but Agarwal's e-learning solution isn't designed for that. Instead, it is helping children learn the language in schools and colleges, and young men and women climb the corporate ladder. After all, English has become the global language of academia, business and commerce. That's why Agarwal's e-learning solution is called EnglishEdge.
In 2009, Rahul Gupta was worried that his marks would rule out a job during campus placements at IIT Roorkee. So, instead of preparing for interviews, he sat reading a newspaper in his room, whereby he came across an article on the setting up of a solar plant in Amritsar.
By the time he finished reading it, he was convinced that solar power was his calling. Since the last semester was relatively relaxed, he devoted his time to conducting research on the sector.
" Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. " 
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.
