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President's Message
"
E-commerce has emerged as a powerful technological innovation for sourcing, distributing and supplying goods from business to businesses (B2B) as well as consumers (B2C). Two models are prevalent: First, the e-marketplace model which mirrors the physical market place and allows MSMEs / traders to sell their goods through it (e.g. Flipkart, e-bay, Snapdeal etc). Second, the inventory based model where a large retailer buys goods, stores and then sells through its own e-platform (e.g. Amazon). Indian MSMEs and traders have been concerned that the inventory based e-commerce model encourages large scale imports of goods manufactured/ supplied and would impact of businesses. Therefore, FISME has been of the view that FDI in e-commerce in B2C should be conditional and gradual. During stakeholder meeting chaired by Dr. Nirmala Sitharaman, Minister of State for Commerce on 14th May, we highlighted the need to get a study done with facts such as:
- Extent of imports by inventory based companies in other large developing countries
- Extent of Indian goods currently procured by e-retailers in India
- WTO compatible conditions that could be placed on companies as a quid pro quo for giving access to India’s markets.
Based on these facts, we should adopt a pragmatic approach in a manner that power of e-commerce, which is here to stay and grow, is harnessed to realize that the vision of ‘Make in India’ can also mean "Make for India".
"
Venue: Conference Room, SME Foundation Date: May 11, 2015 An agreement has been signed between Small and Medium Enterprise Foundation (SMEF) and Federation of Indian Micro and Small & Medium Enterprise (FISME) on development of regional value chain (Textiles & Garments) within the SAARC countries under SAARC Trade Promotion Network (SAARC TPN). One of the main objectives of the study is to develop regional value chain (Textiles & Garments), especially the RMG raw materials export and development of RMG value chain within the SAARC countries.
You’ve either got your foot on the accelerator or you’re going backwards. You have to have an adaptive instinct to keep moving ahead in business, to create innovative products, and to keep finding new things. That was another great skill of our team…. We listened when our customers asked for something new, for variations on our offerings, or for other ways of achieving goals. We’d often take a financial product from another country and re-engineer it for the Canadian market. A lot of times, our successes were born out of sheer market sense.”
Make in India, a new initiative launched by the Modi government, is a much needed move in the right direction. To benefit from the much touted age dividend of India a huge number of jobs need to be created.
Concerned over the increased incidents of loan frauds, Reserve Bank of India (RBI) has issued a framework for banks to help them in the prevention, early detection and reporting of such frauds.
The apex bank has asked lenders to ‘red-flag’ any suspicious activity in this regard. RBI has introduced a concept called Red Flagged Account (RFA), which are accounts where the suspicion of fraudulent activity is thrown up by the presence of one or more early warning signals).
Faster growth in rural markets for the segment has prompted some major fast-moving consumer goods (FMCG) players to bet on this market over urban areas.
The first set of fourth quarter (Q4) results for the financial year 2014-15 declared by some of these companies reveals some of the big names are betting on villages. Hindustan Unilever (HUL), Bajaj Corp and Godrej Consumer Products (GCPL) seem to be betting on rural; Marico and Dabur are counting on urban. Their numbers support their claims.
The finance ministry is likely to announce more measures to take the sting out of the minimum alternate tax (MAT) row that has got foreign investors up in arms, building on the positive response to the government decision to set up a panel to resolve the issue. North Block may issue a directive to tax authorities to go slow in raising MAT demands on foreign portfolio investors (FPIs) or in seeking explanations regarding why the levy shouldn't be imposed on them, pending the panel's report.
The Union Cabinet today approved a new urea policy that aims to make the country self-sufficient in production in the next four years and ensure timely supply of the soil nutrient to farmers.
India produces about 22 million tonnes (MT) of urea annually. At present, it imports about 8 MT of the fertiliser to meet the annual domestic demand.
"The Cabinet has approved a comprehensive new urea policy for the next four years aimed at timely supply of urea to farmers and rationalise subsidy burden," Press Information Bureau (PIB) Director General Frank Noronha said in a tweet after the Cabinet meeting held here.
Putting the concerns of millions of traders and MSMEs at rest, Commerce and Industry Minister Nirmala Sitharaman categorically stated ‘no-change’ in Foreign Direct Investment (FDI) policy for e-commerce.
“We want to leverage the technology for promoting Make in India but there are quite a few issues….We are not taking any position this way or that way from the Ministry”, she said while speaking at a stakeholder meeting organized by Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce and Industry.
The umbrella legislation proposed by the Government to replace several existing labour legislation has not found favours by Micro, Small and Medium Enterprises (MSMEs).
The Small Factories (Regulation of Employment and Conditions of Services) Bill currently under consideration by the Cabinet, proposes to merge over a dozen labour Acts such as ESI, Factories Act and of PF and proposes a liberalized regime for ‘Factories’ employing up to 40 workers. The caveat: it is applicable on Factories employing even one worker.
Based on ‘Make in India’ campaign aimed at facilitating investments and fostering innovations for the manufacturing sector in India, the AIMT at today organised a day-long Seminar at its campus here. Concerns and perspectives of MSMEs were also discussed in the seminar.
The theme of seminar was ‘Make in India Made Easy- Opportunities and Challenges in Defence Sector’. Lt Gen Philip Campose, the Vice Chief of Army Staff, inaugurated the seminar and emphasised on the need for a synergised approach by all stakeholders to ensure success of the campaign in full measure.
The Union Cabinet, chaired by the Prime Minister Narendra Modi, has given its approval for moving official amendments to the Child Labour (Prohibition & Regulation) Amendment Bill, 2012.
The Official Amendments along with the Amendment Bill 2012 proposes to make certain amendments to the Child Labour (Prohibition & Regulation) Act, 1986.
“Employment of children below 14 years prohibited in all occupations and processes and age of prohibition of employment linked to age under Right of Children to Free and Compulsory Education Act, 2009,” according to the amendment.
MSME Minister Kalraj Mishra, who is quite active on social media these days, today posted about the National Workshop of State Ministers on Skill Development and Entrepreneurship Policy which concluded on Saturday in the national capital.
A National Workshop of State Ministers and other stake holders on Skill Development and Entrepreneurship Policy to discuss the policy framework and roadmap for Skill Development in the country was organised here.
Acknowledging that government is aware of the problems being faced by the MSME sector, Minister of State, Micro, Small and Medium Enterprises, Giriraj Singh informed the Upper House that the estimated contribution of manufacturing MSME sector to country’s GDP has come down from 7.52 per cent in 2008-09 to 7.04 per cent in 2012-13.
On the basis of the data on GDP published by Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation (MoSPI) and final results of the latest Census (Fourth Census), conducted (with base reference year 2006-07), wherein the data was collected till 2009 and results published in 2011-12, the estimated contribution of manufacturing MSME sector to GDP during 2008-09, 2009-10, 2010-11, 2011-12 & 2012-13 are 7.52 per cent, 7.45 per cent, 7.39 per cent, 7.27 per cent & 7.04 per cent respectively, as per the revised methodology suggested by CSO, MoSPI.
To facilitate convenient loans to MSMEs from banks, the Haryana government will set up a Rs 100 crore fund that will be kept with lenders as a guarantee.
Speaking at FICCI National Executive Committee meeting here, Haryana Chief Minister Manohar Lal Khattar said the availability of bank credit without the hassles of collateral and third party guarantees would be a major source of support to the first generation entrepreneurs to realise their dream of setting up their own Micro and Small Enterprises (MSEs).
Kerala State Industrial Development Corporation (KSIDC) has launched We Mission to support women entrepreneurs in the state. The corporation expects to offer mentoring support to over 1000 women in the state to start business during the next one year .
After launching the project, Kerala Industries minister PK Kunhalikutty said the government will give priority to green initiatives and start-ups by women. Those women interested in starting their own ventures will be provided with all support including, mentoring and assistance in financial, infrastructure and promotional activities.
Leaving no stones unturned to promote the micro, small and medium enterprises (MSMEs) in the state, Maharashtra government is coming up with a dedicated policy of the small entrepreneurs. The state is also working towards reducing the number of approvals required for setting up a business in the state.
The state chief minister Devendra Fadnavis has said that, "To promote MSMEs, which is the biggest employment generating sector, we have decided to come up with a dedicated industrial policy to provide them all necessary incentives and facilities to set up their businesses in the state."
The government has asked the state agency Orissa State Cooperative Milk Producers’ Federation Limited (OMFED) to start online marketing of milk and milk products for delivery at the doorsteps of consumers in the state.
According to a media report, the decision to go for online marketing came after the federation failed to dispose of the surplus milk procured by it from farmers across the state.
While OMFED was procuring an average of 4.44 lakh litres of milk per day in 2014-15, milk production has reached a peak of 5.20 lakh litres per day in the current year, it said.
Increased production of milk has created a glut situation in all the dairies and the agency is facing constraints in disposal of surplus milk of around 30,000 litres on daily basis.
OMFED has been asked to explore possibility of selling surplus milk to outside agencies for conversion to skimmed milk powder and ghee and private dairies of the State.
In a big push for infrastructure development in Chhattisgarh, MoUs worth Rs 24,000 crore were signed at Dantewada in the presence of Prime Minister Narendra Modi on Saturday.
From railway lines to steel plants and pipelines, the MoUs are meant to enhance development of the state. Here is a list of the MoUs that were signed:
1) MoU between Government of Chhattisgarh, NMDC, IRCON and SAIL for 140 km rail line between Rowghat and Jagdalpur. Estimated project cost: Rs 2,000 crore.
2) MoU between Ministry of Steel, Government of Chhattisgarh, SAIL and NMDC for 3 million ton Ultra Mega Steel Plant with an investment of approximately Rs 18,000 crore.
Prime Minister Narendra Modi on Sunday dedicated the modernised and expanded IISCo Steel Plant of Steel Authority of India to the nation, at a function here that showed clear indications of improving relations between the Centre and the West Bengal government.
SAIL, which spent Rs 16,000 crore to expand the plant's capacity to 2.9 million tonnes per annum from 0.85 million tonnes, said it would make fresh investments of more than Rs 40,000 crore by 2025 to expand its two steel units in the state. This investment will be part of its plan to more than double overall capacity to 50 million tonnes.
The export of buffalo meat from India to Russia has commenced while the shipment of milk products is expected to begin soon.
The issue was discussed during the bilateral meeting between President Pranab Mukherjee and his Russian counterpart Vladimir Putin, Foreign Secretary S Jaishankar said yesterday.
"Bovine meat export to Russia has commenced while export of milk products from India will begin soon," he said at a press conference here.The decision to export buffalo meat to Russia bears significance as cow slaughter is banned in Maharashtra but there is no restriction on export of buffalo meat.
Raising the pitch for ‘Make in India’ campaign, Amitabh Kant, Secretary, Department of Industrial Policy & Promotion, (DIPP), Ministry of Commerce, has called the small and medium Korean companies to set up manufacturing bases in India stating that “we can create ‘plug and play’ facilities for them”.
Kant today exhorted Korean companies to look ahead of the curve, invest and set up manufacturing and R&D bases in India.
Speaking at a business meeting here today on ‘Make in India: Contribution of Korean Companies’, organized by industry body FICCI, Korea International Trade Association (KITA) and Korean Chamber of Commerce India (Kocham India), Kant said, “The future for Korean companies is not in Korea. It is in India both for manufacturing for the domestic market and for export.”
India will seek abolition of non-tariff barriers during Prime Minister Narendra Modi's visit to China next week, officials said, as part of efforts to reduce a widening trade deficit and boost local industry.
New Delhi wants greater market access in sectors such as pharmaceuticals, IT services and farm products including bovine meat, Trade Minister Nirmala Sitharaman said on Friday. India buys more than 60 percent of its bulk drugs from China mainly to produce generic drugs, but Beijing has not taken enough steps to ease rules to allow access to Indian generics - exported to more than 150 countries.
"India has also sought simplification and greater transparency in China's procedures relating to ... imports," the minister said in a written statement to the Lower House of parliament, ahead of Modi's three-nation visit to China, Mongolia and South Korea from May 14-19.
Will PM Modi’s China visit next month help Indian MSMEs enter into China market?
According to the FISME Factor, 36 percent of Micro, Small and Medium Enterprises (MSMEs) think that PM Modi’s China visit will definitely help Indian MSMEs enter into China market while 27 per cent think otherwise and 36 per cent said they can’t say that whether it will help Indian MSMEs to enter into China market or not.
Employee happiness is not a myth; it can and does exist. There are number of quick, easy and low-cost ways companies can start boosting employee happiness and productivity.
With employee productivity so crucial to business growth, it should be encouraging to companies to learn that employee happiness is so closely connected to their performance, because employee happiness is not a myth; it can and does exist.
Soon, a one-person startup could be worth $1 billion & more
Maybe it is a bit overzealous, suggesting a company could reach $1 billion in value without any fulltime employees. But startup value per person (whether measured in users, or dollars, or some other way) is rising fast. Another way to look at the question: why do companies of more than one person exist at all? Why did we need firms with many employees to produce valuable things?
Companies are laying special emphasis on key influencers by identifying and targeting them carefully
American fast-food brand KFC goes out of its way to engage with its key influencers - teenagers and young adults - on social and digital media. It does everything from running promotional schemes, offers and contests to creating apps to solve customer grievances and complaints; the idea being keeping its young audiences engaged enough on a platform it knows they are constantly wired into.
Stricter pollution rules: TN leather units feel the heat
In the last three years, the number of tanneries in Tamil Nadu has fallen from 820 to 450-460
Three months after an industrial accident killed 10 people at a leather unit in Ranipet, the leather industry in Tamil Nadu is feeling the heat of stringent new regulations on effluent discharge and factory compliances.
Micro, small and medium enterprises (MSMEs), which account for a major chunk of the state's leather industry, have been the worst hit, industry representatives said.
StoreHippo spurs growth of SME with marketplace integration
StoreHippo, the leading platform for mobile e-commerce, has commenced Marketplace Integration for the benefit of SMEs and budding entrepreneurs.
This service is a growth booster for online retailers as it opens the gateway to reputed marketplaces in the online shopping industry. This feature provides more brand visibility for e-tailers as they can host their products on global online marketplaces, and reach a large number of target customers. Thus, online merchants get the advantage of higher returns.
Currently, StoreHippo offers Marketplace Integration with well-known marketplaces like Amazon and eBay. Other marketplace giants like Snapdeal and Flipkart are also in the pipeline.
How ignoring everybody could make you a successful entrepreneur
Let's play a mind game. Say you wish to start a company that 3D prints bandages that are absorbed by the skin. It's an intriguing, future-ready idea with a large global market. Friends and family are willing to give you $200K to build a team, tinker with 3D printers and grow some biological cells to experiment. A year later, your money is burning but your product looks far from being customer-ready. Investors you meet aren't willing to bet on an unproven idea that doesn't yet have traction. Question: will you abandon the idea or will you find a way to push it further?
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.
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This Newsletter is edited by the FISME Secretariat. We welcome contributions as well as comments and suggestions. Please write to newsletter@fisme.org.in
"
E-commerce has emerged as a powerful technological innovation for sourcing, distributing and supplying goods from business to businesses (B2B) as well as consumers (B2C). Two models are prevalent: First, the e-marketplace model which mirrors the physical market place and allows MSMEs / traders to sell their goods through it (e.g. Flipkart, e-bay, Snapdeal etc). Second, the inventory based model where a large retailer buys goods, stores and then sells through its own e-platform (e.g. Amazon). Indian MSMEs and traders have been concerned that the inventory based e-commerce model encourages large scale imports of goods manufactured/ supplied and would impact of businesses. Therefore, FISME has been of the view that FDI in e-commerce in B2C should be conditional and gradual. During stakeholder meeting chaired by Dr. Nirmala Sitharaman, Minister of State for Commerce on 14th May, we highlighted the need to get a study done with facts such as:
- Extent of imports by inventory based companies in other large developing countries
- Extent of Indian goods currently procured by e-retailers in India
- WTO compatible conditions that could be placed on companies as a quid pro quo for giving access to India’s markets.
Based on these facts, we should adopt a pragmatic approach in a manner that power of e-commerce, which is here to stay and grow, is harnessed to realize that the vision of ‘Make in India’ can also mean "Make for India".
"
Venue: Conference Room, SME Foundation Date: May 11, 2015 An agreement has been signed between Small and Medium Enterprise Foundation (SMEF) and Federation of Indian Micro and Small & Medium Enterprise (FISME) on development of regional value chain (Textiles & Garments) within the SAARC countries under SAARC Trade Promotion Network (SAARC TPN). One of the main objectives of the study is to develop regional value chain (Textiles & Garments), especially the RMG raw materials export and development of RMG value chain within the SAARC countries.
Concerned over the increased incidents of loan frauds, Reserve Bank of India (RBI) has issued a framework for banks to help them in the prevention, early detection and reporting of such frauds.
The apex bank has asked lenders to ‘red-flag’ any suspicious activity in this regard. RBI has introduced a concept called Red Flagged Account (RFA), which are accounts where the suspicion of fraudulent activity is thrown up by the presence of one or more early warning signals).
Faster growth in rural markets for the segment has prompted some major fast-moving consumer goods (FMCG) players to bet on this market over urban areas.
The first set of fourth quarter (Q4) results for the financial year 2014-15 declared by some of these companies reveals some of the big names are betting on villages. Hindustan Unilever (HUL), Bajaj Corp and Godrej Consumer Products (GCPL) seem to be betting on rural; Marico and Dabur are counting on urban. Their numbers support their claims.
The finance ministry is likely to announce more measures to take the sting out of the minimum alternate tax (MAT) row that has got foreign investors up in arms, building on the positive response to the government decision to set up a panel to resolve the issue. North Block may issue a directive to tax authorities to go slow in raising MAT demands on foreign portfolio investors (FPIs) or in seeking explanations regarding why the levy shouldn't be imposed on them, pending the panel's report.
Putting the concerns of millions of traders and MSMEs at rest, Commerce and Industry Minister Nirmala Sitharaman categorically stated ‘no-change’ in Foreign Direct Investment (FDI) policy for e-commerce.
“We want to leverage the technology for promoting Make in India but there are quite a few issues….We are not taking any position this way or that way from the Ministry”, she said while speaking at a stakeholder meeting organized by Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce and Industry.
The umbrella legislation proposed by the Government to replace several existing labour legislation has not found favours by Micro, Small and Medium Enterprises (MSMEs).
The Small Factories (Regulation of Employment and Conditions of Services) Bill currently under consideration by the Cabinet, proposes to merge over a dozen labour Acts such as ESI, Factories Act and of PF and proposes a liberalized regime for ‘Factories’ employing up to 40 workers. The caveat: it is applicable on Factories employing even one worker.
Based on ‘Make in India’ campaign aimed at facilitating investments and fostering innovations for the manufacturing sector in India, the AIMT at today organised a day-long Seminar at its campus here. Concerns and perspectives of MSMEs were also discussed in the seminar.
The theme of seminar was ‘Make in India Made Easy- Opportunities and Challenges in Defence Sector’. Lt Gen Philip Campose, the Vice Chief of Army Staff, inaugurated the seminar and emphasised on the need for a synergised approach by all stakeholders to ensure success of the campaign in full measure.
The Union Cabinet, chaired by the Prime Minister Narendra Modi, has given its approval for moving official amendments to the Child Labour (Prohibition & Regulation) Amendment Bill, 2012.
The Official Amendments along with the Amendment Bill 2012 proposes to make certain amendments to the Child Labour (Prohibition & Regulation) Act, 1986.
“Employment of children below 14 years prohibited in all occupations and processes and age of prohibition of employment linked to age under Right of Children to Free and Compulsory Education Act, 2009,” according to the amendment.
MSME Minister Kalraj Mishra, who is quite active on social media these days, today posted about the National Workshop of State Ministers on Skill Development and Entrepreneurship Policy which concluded on Saturday in the national capital.
A National Workshop of State Ministers and other stake holders on Skill Development and Entrepreneurship Policy to discuss the policy framework and roadmap for Skill Development in the country was organised here.
Acknowledging that government is aware of the problems being faced by the MSME sector, Minister of State, Micro, Small and Medium Enterprises, Giriraj Singh informed the Upper House that the estimated contribution of manufacturing MSME sector to country’s GDP has come down from 7.52 per cent in 2008-09 to 7.04 per cent in 2012-13.
On the basis of the data on GDP published by Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation (MoSPI) and final results of the latest Census (Fourth Census), conducted (with base reference year 2006-07), wherein the data was collected till 2009 and results published in 2011-12, the estimated contribution of manufacturing MSME sector to GDP during 2008-09, 2009-10, 2010-11, 2011-12 & 2012-13 are 7.52 per cent, 7.45 per cent, 7.39 per cent, 7.27 per cent & 7.04 per cent respectively, as per the revised methodology suggested by CSO, MoSPI.
To facilitate convenient loans to MSMEs from banks, the Haryana government will set up a Rs 100 crore fund that will be kept with lenders as a guarantee.
Speaking at FICCI National Executive Committee meeting here, Haryana Chief Minister Manohar Lal Khattar said the availability of bank credit without the hassles of collateral and third party guarantees would be a major source of support to the first generation entrepreneurs to realise their dream of setting up their own Micro and Small Enterprises (MSEs).
Kerala State Industrial Development Corporation (KSIDC) has launched We Mission to support women entrepreneurs in the state. The corporation expects to offer mentoring support to over 1000 women in the state to start business during the next one year .
After launching the project, Kerala Industries minister PK Kunhalikutty said the government will give priority to green initiatives and start-ups by women. Those women interested in starting their own ventures will be provided with all support including, mentoring and assistance in financial, infrastructure and promotional activities.
Leaving no stones unturned to promote the micro, small and medium enterprises (MSMEs) in the state, Maharashtra government is coming up with a dedicated policy of the small entrepreneurs. The state is also working towards reducing the number of approvals required for setting up a business in the state.
The state chief minister Devendra Fadnavis has said that, "To promote MSMEs, which is the biggest employment generating sector, we have decided to come up with a dedicated industrial policy to provide them all necessary incentives and facilities to set up their businesses in the state."
The government has asked the state agency Orissa State Cooperative Milk Producers’ Federation Limited (OMFED) to start online marketing of milk and milk products for delivery at the doorsteps of consumers in the state.
According to a media report, the decision to go for online marketing came after the federation failed to dispose of the surplus milk procured by it from farmers across the state.
While OMFED was procuring an average of 4.44 lakh litres of milk per day in 2014-15, milk production has reached a peak of 5.20 lakh litres per day in the current year, it said.
Increased production of milk has created a glut situation in all the dairies and the agency is facing constraints in disposal of surplus milk of around 30,000 litres on daily basis.
OMFED has been asked to explore possibility of selling surplus milk to outside agencies for conversion to skimmed milk powder and ghee and private dairies of the State.
In a big push for infrastructure development in Chhattisgarh, MoUs worth Rs 24,000 crore were signed at Dantewada in the presence of Prime Minister Narendra Modi on Saturday.
From railway lines to steel plants and pipelines, the MoUs are meant to enhance development of the state. Here is a list of the MoUs that were signed:
1) MoU between Government of Chhattisgarh, NMDC, IRCON and SAIL for 140 km rail line between Rowghat and Jagdalpur. Estimated project cost: Rs 2,000 crore.
2) MoU between Ministry of Steel, Government of Chhattisgarh, SAIL and NMDC for 3 million ton Ultra Mega Steel Plant with an investment of approximately Rs 18,000 crore.
Prime Minister Narendra Modi on Sunday dedicated the modernised and expanded IISCo Steel Plant of Steel Authority of India to the nation, at a function here that showed clear indications of improving relations between the Centre and the West Bengal government.
SAIL, which spent Rs 16,000 crore to expand the plant's capacity to 2.9 million tonnes per annum from 0.85 million tonnes, said it would make fresh investments of more than Rs 40,000 crore by 2025 to expand its two steel units in the state. This investment will be part of its plan to more than double overall capacity to 50 million tonnes.
The export of buffalo meat from India to Russia has commenced while the shipment of milk products is expected to begin soon.
The issue was discussed during the bilateral meeting between President Pranab Mukherjee and his Russian counterpart Vladimir Putin, Foreign Secretary S Jaishankar said yesterday.
"Bovine meat export to Russia has commenced while export of milk products from India will begin soon," he said at a press conference here.The decision to export buffalo meat to Russia bears significance as cow slaughter is banned in Maharashtra but there is no restriction on export of buffalo meat.
Raising the pitch for ‘Make in India’ campaign, Amitabh Kant, Secretary, Department of Industrial Policy & Promotion, (DIPP), Ministry of Commerce, has called the small and medium Korean companies to set up manufacturing bases in India stating that “we can create ‘plug and play’ facilities for them”.
Kant today exhorted Korean companies to look ahead of the curve, invest and set up manufacturing and R&D bases in India.
Speaking at a business meeting here today on ‘Make in India: Contribution of Korean Companies’, organized by industry body FICCI, Korea International Trade Association (KITA) and Korean Chamber of Commerce India (Kocham India), Kant said, “The future for Korean companies is not in Korea. It is in India both for manufacturing for the domestic market and for export.”
India will seek abolition of non-tariff barriers during Prime Minister Narendra Modi's visit to China next week, officials said, as part of efforts to reduce a widening trade deficit and boost local industry.
New Delhi wants greater market access in sectors such as pharmaceuticals, IT services and farm products including bovine meat, Trade Minister Nirmala Sitharaman said on Friday. India buys more than 60 percent of its bulk drugs from China mainly to produce generic drugs, but Beijing has not taken enough steps to ease rules to allow access to Indian generics - exported to more than 150 countries.
"India has also sought simplification and greater transparency in China's procedures relating to ... imports," the minister said in a written statement to the Lower House of parliament, ahead of Modi's three-nation visit to China, Mongolia and South Korea from May 14-19.
According to the FISME Factor, 36 percent of Micro, Small and Medium Enterprises (MSMEs) think that PM Modi’s China visit will definitely help Indian MSMEs enter into China market while 27 per cent think otherwise and 36 per cent said they can’t say that whether it will help Indian MSMEs to enter into China market or not.
Employee happiness is not a myth; it can and does exist. There are number of quick, easy and low-cost ways companies can start boosting employee happiness and productivity.
With employee productivity so crucial to business growth, it should be encouraging to companies to learn that employee happiness is so closely connected to their performance, because employee happiness is not a myth; it can and does exist.
Maybe it is a bit overzealous, suggesting a company could reach $1 billion in value without any fulltime employees. But startup value per person (whether measured in users, or dollars, or some other way) is rising fast. Another way to look at the question: why do companies of more than one person exist at all? Why did we need firms with many employees to produce valuable things?
Companies are laying special emphasis on key influencers by identifying and targeting them carefully
American fast-food brand KFC goes out of its way to engage with its key influencers - teenagers and young adults - on social and digital media. It does everything from running promotional schemes, offers and contests to creating apps to solve customer grievances and complaints; the idea being keeping its young audiences engaged enough on a platform it knows they are constantly wired into.
In the last three years, the number of tanneries in Tamil Nadu has fallen from 820 to 450-460
Three months after an industrial accident killed 10 people at a leather unit in Ranipet, the leather industry in Tamil Nadu is feeling the heat of stringent new regulations on effluent discharge and factory compliances.
Micro, small and medium enterprises (MSMEs), which account for a major chunk of the state's leather industry, have been the worst hit, industry representatives said.
StoreHippo, the leading platform for mobile e-commerce, has commenced Marketplace Integration for the benefit of SMEs and budding entrepreneurs.
This service is a growth booster for online retailers as it opens the gateway to reputed marketplaces in the online shopping industry. This feature provides more brand visibility for e-tailers as they can host their products on global online marketplaces, and reach a large number of target customers. Thus, online merchants get the advantage of higher returns.
Currently, StoreHippo offers Marketplace Integration with well-known marketplaces like Amazon and eBay. Other marketplace giants like Snapdeal and Flipkart are also in the pipeline.
Let's play a mind game. Say you wish to start a company that 3D prints bandages that are absorbed by the skin. It's an intriguing, future-ready idea with a large global market. Friends and family are willing to give you $200K to build a team, tinker with 3D printers and grow some biological cells to experiment. A year later, your money is burning but your product looks far from being customer-ready. Investors you meet aren't willing to bet on an unproven idea that doesn't yet have traction. Question: will you abandon the idea or will you find a way to push it further?
“If you can't fly then run, if you can't run then walk, if you can't walk then crawl, but whatever you do you have to keep moving forward.” 
