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President Message
On the occasion of MSME Day, I had the opportunity to present an overview of the wide range of schemes and support programmes available to MSMEs from the Government of India. While MSMEs continue to grapple with challenges relating to finance, technology, quality certification, standards compliance, market access, exports, skilling, and productivity, I am often struck by a paradox: despite the abundance of support mechanisms, awareness about them remains extremely limited. In many cases, not only are MSMEs unaware of these opportunities, but even their representative associations do not have adequate information or capacity to guide enterprises. This information and capacity deficit is perhaps one of the biggest barriers preventing MSMEs from fully benefiting from the support ecosystem that has been created for them. I firmly believe that industry associations can play a transformative role in bridging this gap. Associations are the natural interface between government and enterprises and can serve as effective channels for disseminating information, organising awareness programmes, facilitating access to schemes, and providing much-needed handholding support. If we are serious about improving the reach and impact of MSME support programmes, we must strengthen the role and capacity of associations as trusted delivery partners. At FISME we have developed a framework to systematically familiarise MSME associations with the available schemes and take the lead in helping their members access these opportunities. Together, we can ensure that the benefits intended for MSMEs actually reach them and contribute meaningfully to their growth and competitiveness.
Centre of Excellence for Aspiring SMEs (CoEAS), a joint initiative of FISME and IFCI Ltd., participated in the Agra Food Expo & Conclave 2026, organised by the Chamber of Food Processing and Industry Association (CFPIA) from 14–16 June 2026 in Agra, to promote equity-based growth opportunities for MSMEs. During the event, CoEAS engaged enterprises on SME IPOs, private equity, governance readiness, and external financing, while generating leads for continued handholding and future engagement with interested MSMEs.
The Central Executive Committee (CEC) meeting of FISME was held on 26 June 2026 in New Delhi. FISME President Mr. Rakesh Chhabra chaired the meeting. During the meeting, members were presented with a comprehensive update on the organization's activities and key official engagements undertaken since the previous CEC meeting. The Committee also reviewed significant policy developments and other matters relevant to the MSME sector. The CEC deliberated on the roadmap of activities planned for 2026–27, with a focus on strengthening FISME's initiatives and outreach. In addition, the progress and performance of FISME's affiliated institutions were reviewed to assess ongoing initiatives and identify future priorities.
India’s startup story is often told through big numbers. Unicorns. Funding rounds. Valuations. But behind those headlines is another story that deserves equal attention. The quiet rise of women entrepreneurs building businesses across the country. Today, India has more than two lakh recognised startups. A growing number include women in leadership roles. Women still make up a relatively small share of startup founders, and raising capital continues to be harder for many of them. But that is only part of the story.
Awareness and effective use of government policies and schemes can significantly accelerate MSME growth, Federation of Indian MSMEs (FISME) President Rakesh Chhabra said during SIDBI MSME Samvad on International MSME Day. He noted that alongside hard work, quality products and market demand, policy awareness is a key driver of business growth. Chhabra said many entrepreneurs mistakenly associate government schemes only with subsidies, despite support being available for finance, technology, machinery, exports, quality certification and digital transformation. He noted that MSMEs leveraging these schemes generally grow faster, but many miss out due to limited awareness,
India's industrial output grew 5.1 percent year-on-year in May 2026, up from 4.9 percent in April, supported by strong performance in manufacturing and electricity despite a contraction in mining, according to the latest Index of Industrial Production (IIP) data released by the Ministry of Statistics and Programme Implementation (MoSPI). The Quick Estimate of the IIP stood at 122.7 in May, compared with 116.7 in the corresponding month last year, reported Economic Times.
India's economy is expected to grow at 6.6 to 6.8 per cent in real terms in FY27, with nominal GDP growth projected at 12.5 per cent, according to EY Economy Watch. The report, released on Friday, said India continues to demonstrate strong economic resilience despite external uncertainties, underpinned by robust domestic fundamentals and sustained private sector activity, PTI reported. A gradual normalisation of global energy markets is expected to ease supply-side pressures, improve cost conditions and support both growth and inflation outcomes during the year.
The Union Cabinet has approved an additional Rs 30,000 crore investment commitment to the National Investment and Infrastructure Fund (NIIF), doubling the Government of India's total commitment to Rs 60,000 crore. The additional allocation will support the establishment of NIIF Infrastructure Fund II, the successor to NIIF's first infrastructure fund. The proposed fund will have a target corpus of around Rs 30,000 crore and is expected to invest in transportation, energy, digital infrastructure, urban infrastructure and electric mobility. The allocation will also support new fund strategies and successor bilateral funds.
The central government has introduced a significant compliance relief measure under the Legal Metrology Act, under which businesses committing a technical or procedural violation for the first time will not face fines or prosecution, and will instead be issued a notice and given a specified period to rectify the error. The Department of Consumer Affairs has implemented the provision under the Jan Vishwas Act, 2026. Action will be taken only if the correction is not made within the stipulated period or if the same violation is repeated.
The Supreme Court on Tuesday directed maintenance of status quo on ethanol supply allocation for the Ethanol Supply Year (ESY) 2025–26 while hearing a challenge to a Karnataka High Court (HC) order concerning enhanced ethanol allocation to a distillery. A partial court working days bench of Justices M M Sundresh and Sheel Nagu issued notice after hearing Attorney General R Venkataramani for Bharat Petroleum Corporation Ltd and Senior Advocate Siddharth Dave for the respondent.
The government has amended the Insolvency and Bankruptcy Code (IBC) to make it mandatory for the National Company Law Tribunal (NCLT) to admit insolvency applications filed by financial creditors once a payment default is established, a move aimed at reducing delays in corporate insolvency proceedings. Under the IBC (Amendment) Act, 2026, the government has replaced the word ‘may’ with ‘shall’ in Section 7(5) of the Code, removing the NCLT's discretion to defer or reject Corporate Insolvency Resolution Process (CIRP) applications after default has been verified through Information Utility (IU) records.
The Centre has notified the Transition Facilitation (Quality Control) Order, 2026, creating a time-bound framework that allows eligible companies to continue supplying products covered under notified Quality Control Orders (QCOs) while remaining within the Bureau of Indian Standards (BIS) compliance ecosystem. Issued by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Bureau of Indian Standards Act, 2016, the order came into effect on June 25 and will remain operational for five years unless extended by the Central Government.
The Delhi government on Wednesday launched the Delhi Electric Vehicle Policy 2026, its most ambitious push toward vehicle electrification to date, backed by a Rs 7,000 crore outlay and active until 31 March 2030. The policy sets out a phased timeline to phase out internal combustion engine vehicles across key categories, underpinned by direct purchase subsidies, scrappage incentives, and a target of over 30,000 active charging points across the capital.
The Kanohar Skill Development Center (KSDC), a joint initiative of Ambuja Foundation and Kanohar Electricals Limited, was formally inaugurated at the Chameli Devi Durga Prasad Girls Degree College campus in Saunda village, Modinagar, Uttar Pradesh, on June 25. The centre aims to train over 1,000 rural youth in employment-oriented skills.
The launch was attended by Rajendra Agrawal, Former MP (Meerut), and Dr. Manju Shivach, MLA (Modinagar), both of whom underscored the role of skill development in promoting self-reliance and strengthening opportunities for local youth.
Rajasthan Chief Minister Bhajanlal Sharma on Saturday announced measures to boost the state’s micro, small and medium enterprise (MSME) and electronics sectors, including artisan markets under the public-private partnership (PPP) model, financial support for 25 startups and relaxed investment thresholds for semiconductor manufacturing. Addressing a state function organised on the occasion of International MSME Day, Sharma said Rajasthan had emerged as the country's fourth-largest MSME state with over 33 lakh enterprises, attributing the growth to government policy and entrepreneurial initiative, PTI reported.
Bihar has initiated a comprehensive restructuring of its micro, small and medium enterprise (MSME) directorate and begun drafting a new MSME policy as part of a broader push to transform the state into an industrial growth hub. The move follows a series of high-level meetings led by Kundan Kumar, Secretary, Bihar Industries Department and Managing Director, Bihar Industrial Area Development Authority (BIADA) and Infrastructure Development Authority (IDA), during an official visit to Hyderabad, TOI reported.
Automobiles have emerged as the single largest driver of India's export growth to Japan, with their share in outbound shipments rising sharply from 1 per cent in FY21 to 13 per cent in FY26, reflecting deepening integration into Japan-linked automotive value chains, according to the India-Japan Business Scenario report released by Rubix Data Sciences on Tuesday. The report was released ahead of Japanese Prime Minister Sanae Takaichi's three-day visit to India beginning 1 July 2026 for the 16th India-Japan Annual Summit, PTI reported.
Union Commerce and Industry Minister Piyush Goyal witnessed the launch of Unified Payments Interface (UPI) services in Greece during his visit to Athens, following a partnership between Eurobank and NPCI International Payments Limited (NIPL). The launch enables eligible customers to make instant and secure digital payments using UPI in Greece, marking another step in the international expansion of India's digital payments platform.
During the visit, Goyal attended a demonstration of the UPI service at Eurobank headquarters and held discussions with the bank's leadership on financial cooperation and investment opportunities.
With regards to new Order for distribution of Diesel what solution would you prefer the government to adopt?
According to the FISME factor, 70% of MSMEs recommend that the government provide fast-track PESO approvals for small storage tanks to facilitate compliance with the new diesel distribution order, while 30% of MSMEs believe that no changes are required.
Are return-to-office mandates about productivity or control?
For years, the return-to-office debate has been framed as a tug of war between employers and employees. One side argues that people collaborate better when they work together physically. The other believes productivity has little to do with desks, office buildings or badge swipes. As organisations continue revisiting attendance policies, the conversation has become far more nuanced. Behind every return-to-office mandate lies a different organisational reality. For some, it is about strengthening culture and collaboration. For others, it reflects operational realities that simply cannot be managed remotely.
MSME Loan Scheme 2026 - Interest Rate, How to Apply, Eligibility & Types
MSME loan schemes help micro, small, and medium enterprises access affordable credit for expansion, working capital, and technology upgrades. With MSME loan interest rates starting from 7% p.a., these loans are offered by banks, NBFCs, and government schemes to boost entrepreneurship and employment. What is MSME Loan?
How to build a go-to-market strategy for startups in 2026
The days of launching first and figuring distribution later are over. With funding becoming more selective and profitability timelines tightening, startups now win or lose on their go-to-market strategy. A strong GTM strategy defines how you reach customers, how fast you convert them, and how efficiently you turn traction into revenue. For Indian founders, this also means designing for price sensitivity, regulation, and fragmented buying behaviour.
CRGO Steel Probe Sparks MSME Concerns Over Costs & Power Tariffs
An anti-dumping investigation into Cold Rolled Grain Oriented (CRGO) steel, a specialised input material critical to transformer manufacturing, has drawn sharp opposition from micro, small and medium enterprise (MSME) transformer makers and raised concerns about the long-term impact on electricity tariffs for consumers. The Commerce and Industry Ministry ordered the probe on 22 June on the basis of an application filed by JSW JFE Electrical Steel Nashik Private Limited — a joint venture between JSW Steel and Japan's JFE Steel Corporation, and currently the only domestic producer of CRGO steel in India.
How this woman entrepreneur is transforming desert livelihoods in Rajasthan through Bahula Naturals
Aakriti Srivastava has vivid memories of her first trip to Bajju, Rajasthan, in June 2017.
At the time, she was filming environmental documentaries for a non-profit organisation in London and a media house in Delhi when someone suggested she visit this remote village in Rajasthan on the India-Pakistan border to cover stories of 71 migrant families settled there. Curious, she decided to make the journey. She took a train to Bikaner, and boarded a bus into the desert, and as she went deeper into the dunes, the first question that came to her was, “Am I going to be safe? Is this even India?”
Five Indian Grassroots Innovations Win Recognition At Paris Club of Innovation Awards 2026
Five Indian grassroots innovations backed by the Honey Bee Network and the Gujarat Grassroots Innovation Augmentation Network (GIAN) were recognised at the Innovation Team Best Practices (ITBP) Awards 2026, held on 4 June in Paris. India participated as the official Guest Country at the 19th National Meeting of Chief Innovation Officers — France's premier annual gathering of innovation leaders from corporations, universities, research institutions, and public agencies.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI), has released the new series of the All India Index of Industrial Production (IIP) with base year 2022–23 for the May 2026.
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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On the occasion of MSME Day, I had the opportunity to present an overview of the wide range of schemes and support programmes available to MSMEs from the Government of India. While MSMEs continue to grapple with challenges relating to finance, technology, quality certification, standards compliance, market access, exports, skilling, and productivity, I am often struck by a paradox: despite the abundance of support mechanisms, awareness about them remains extremely limited. In many cases, not only are MSMEs unaware of these opportunities, but even their representative associations do not have adequate information or capacity to guide enterprises. This information and capacity deficit is perhaps one of the biggest barriers preventing MSMEs from fully benefiting from the support ecosystem that has been created for them. I firmly believe that industry associations can play a transformative role in bridging this gap. Associations are the natural interface between government and enterprises and can serve as effective channels for disseminating information, organising awareness programmes, facilitating access to schemes, and providing much-needed handholding support. If we are serious about improving the reach and impact of MSME support programmes, we must strengthen the role and capacity of associations as trusted delivery partners. At FISME we have developed a framework to systematically familiarise MSME associations with the available schemes and take the lead in helping their members access these opportunities. Together, we can ensure that the benefits intended for MSMEs actually reach them and contribute meaningfully to their growth and competitiveness.
Centre of Excellence for Aspiring SMEs (CoEAS), a joint initiative of FISME and IFCI Ltd., participated in the Agra Food Expo & Conclave 2026, organised by the Chamber of Food Processing and Industry Association (CFPIA) from 14–16 June 2026 in Agra, to promote equity-based growth opportunities for MSMEs. During the event, CoEAS engaged enterprises on SME IPOs, private equity, governance readiness, and external financing, while generating leads for continued handholding and future engagement with interested MSMEs.
The Central Executive Committee (CEC) meeting of FISME was held on 26 June 2026 in New Delhi. FISME President Mr. Rakesh Chhabra chaired the meeting. During the meeting, members were presented with a comprehensive update on the organization's activities and key official engagements undertaken since the previous CEC meeting. The Committee also reviewed significant policy developments and other matters relevant to the MSME sector. The CEC deliberated on the roadmap of activities planned for 2026–27, with a focus on strengthening FISME's initiatives and outreach. In addition, the progress and performance of FISME's affiliated institutions were reviewed to assess ongoing initiatives and identify future priorities.
India’s startup story is often told through big numbers. Unicorns. Funding rounds. Valuations. But behind those headlines is another story that deserves equal attention. The quiet rise of women entrepreneurs building businesses across the country. Today, India has more than two lakh recognised startups. A growing number include women in leadership roles. Women still make up a relatively small share of startup founders, and raising capital continues to be harder for many of them. But that is only part of the story.
India's industrial output grew 5.1 percent year-on-year in May 2026, up from 4.9 percent in April, supported by strong performance in manufacturing and electricity despite a contraction in mining, according to the latest Index of Industrial Production (IIP) data released by the Ministry of Statistics and Programme Implementation (MoSPI). The Quick Estimate of the IIP stood at 122.7 in May, compared with 116.7 in the corresponding month last year, reported Economic Times.
India's economy is expected to grow at 6.6 to 6.8 per cent in real terms in FY27, with nominal GDP growth projected at 12.5 per cent, according to EY Economy Watch. The report, released on Friday, said India continues to demonstrate strong economic resilience despite external uncertainties, underpinned by robust domestic fundamentals and sustained private sector activity, PTI reported. A gradual normalisation of global energy markets is expected to ease supply-side pressures, improve cost conditions and support both growth and inflation outcomes during the year.
The Union Cabinet has approved an additional Rs 30,000 crore investment commitment to the National Investment and Infrastructure Fund (NIIF), doubling the Government of India's total commitment to Rs 60,000 crore. The additional allocation will support the establishment of NIIF Infrastructure Fund II, the successor to NIIF's first infrastructure fund. The proposed fund will have a target corpus of around Rs 30,000 crore and is expected to invest in transportation, energy, digital infrastructure, urban infrastructure and electric mobility. The allocation will also support new fund strategies and successor bilateral funds.
The central government has introduced a significant compliance relief measure under the Legal Metrology Act, under which businesses committing a technical or procedural violation for the first time will not face fines or prosecution, and will instead be issued a notice and given a specified period to rectify the error. The Department of Consumer Affairs has implemented the provision under the Jan Vishwas Act, 2026. Action will be taken only if the correction is not made within the stipulated period or if the same violation is repeated.
The Supreme Court on Tuesday directed maintenance of status quo on ethanol supply allocation for the Ethanol Supply Year (ESY) 2025–26 while hearing a challenge to a Karnataka High Court (HC) order concerning enhanced ethanol allocation to a distillery. A partial court working days bench of Justices M M Sundresh and Sheel Nagu issued notice after hearing Attorney General R Venkataramani for Bharat Petroleum Corporation Ltd and Senior Advocate Siddharth Dave for the respondent.
The government has amended the Insolvency and Bankruptcy Code (IBC) to make it mandatory for the National Company Law Tribunal (NCLT) to admit insolvency applications filed by financial creditors once a payment default is established, a move aimed at reducing delays in corporate insolvency proceedings. Under the IBC (Amendment) Act, 2026, the government has replaced the word ‘may’ with ‘shall’ in Section 7(5) of the Code, removing the NCLT's discretion to defer or reject Corporate Insolvency Resolution Process (CIRP) applications after default has been verified through Information Utility (IU) records.
The Centre has notified the Transition Facilitation (Quality Control) Order, 2026, creating a time-bound framework that allows eligible companies to continue supplying products covered under notified Quality Control Orders (QCOs) while remaining within the Bureau of Indian Standards (BIS) compliance ecosystem. Issued by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Bureau of Indian Standards Act, 2016, the order came into effect on June 25 and will remain operational for five years unless extended by the Central Government.
The Delhi government on Wednesday launched the Delhi Electric Vehicle Policy 2026, its most ambitious push toward vehicle electrification to date, backed by a Rs 7,000 crore outlay and active until 31 March 2030. The policy sets out a phased timeline to phase out internal combustion engine vehicles across key categories, underpinned by direct purchase subsidies, scrappage incentives, and a target of over 30,000 active charging points across the capital.
The Kanohar Skill Development Center (KSDC), a joint initiative of Ambuja Foundation and Kanohar Electricals Limited, was formally inaugurated at the Chameli Devi Durga Prasad Girls Degree College campus in Saunda village, Modinagar, Uttar Pradesh, on June 25. The centre aims to train over 1,000 rural youth in employment-oriented skills.
The launch was attended by Rajendra Agrawal, Former MP (Meerut), and Dr. Manju Shivach, MLA (Modinagar), both of whom underscored the role of skill development in promoting self-reliance and strengthening opportunities for local youth.
Rajasthan Chief Minister Bhajanlal Sharma on Saturday announced measures to boost the state’s micro, small and medium enterprise (MSME) and electronics sectors, including artisan markets under the public-private partnership (PPP) model, financial support for 25 startups and relaxed investment thresholds for semiconductor manufacturing. Addressing a state function organised on the occasion of International MSME Day, Sharma said Rajasthan had emerged as the country's fourth-largest MSME state with over 33 lakh enterprises, attributing the growth to government policy and entrepreneurial initiative, PTI reported.
Bihar has initiated a comprehensive restructuring of its micro, small and medium enterprise (MSME) directorate and begun drafting a new MSME policy as part of a broader push to transform the state into an industrial growth hub. The move follows a series of high-level meetings led by Kundan Kumar, Secretary, Bihar Industries Department and Managing Director, Bihar Industrial Area Development Authority (BIADA) and Infrastructure Development Authority (IDA), during an official visit to Hyderabad, TOI reported.
Automobiles have emerged as the single largest driver of India's export growth to Japan, with their share in outbound shipments rising sharply from 1 per cent in FY21 to 13 per cent in FY26, reflecting deepening integration into Japan-linked automotive value chains, according to the India-Japan Business Scenario report released by Rubix Data Sciences on Tuesday. The report was released ahead of Japanese Prime Minister Sanae Takaichi's three-day visit to India beginning 1 July 2026 for the 16th India-Japan Annual Summit, PTI reported.
According to the FISME factor, 70% of MSMEs recommend that the government provide fast-track PESO approvals for small storage tanks to facilitate compliance with the new diesel distribution order, while 30% of MSMEs believe that no changes are required. 
For years, the return-to-office debate has been framed as a tug of war between employers and employees. One side argues that people collaborate better when they work together physically. The other believes productivity has little to do with desks, office buildings or badge swipes. As organisations continue revisiting attendance policies, the conversation has become far more nuanced. Behind every return-to-office mandate lies a different organisational reality. For some, it is about strengthening culture and collaboration. For others, it reflects operational realities that simply cannot be managed remotely.
MSME loan schemes help micro, small, and medium enterprises access affordable credit for expansion, working capital, and technology upgrades. With MSME loan interest rates starting from 7% p.a., these loans are offered by banks, NBFCs, and government schemes to boost entrepreneurship and employment. What is MSME Loan?
The days of launching first and figuring distribution later are over. With funding becoming more selective and profitability timelines tightening, startups now win or lose on their go-to-market strategy. A strong GTM strategy defines how you reach customers, how fast you convert them, and how efficiently you turn traction into revenue. For Indian founders, this also means designing for price sensitivity, regulation, and fragmented buying behaviour.
An anti-dumping investigation into Cold Rolled Grain Oriented (CRGO) steel, a specialised input material critical to transformer manufacturing, has drawn sharp opposition from micro, small and medium enterprise (MSME) transformer makers and raised concerns about the long-term impact on electricity tariffs for consumers. The Commerce and Industry Ministry ordered the probe on 22 June on the basis of an application filed by JSW JFE Electrical Steel Nashik Private Limited — a joint venture between JSW Steel and Japan's JFE Steel Corporation, and currently the only domestic producer of CRGO steel in India.
Aakriti Srivastava has vivid memories of her first trip to Bajju, Rajasthan, in June 2017.
At the time, she was filming environmental documentaries for a non-profit organisation in London and a media house in Delhi when someone suggested she visit this remote village in Rajasthan on the India-Pakistan border to cover stories of 71 migrant families settled there. Curious, she decided to make the journey. She took a train to Bikaner, and boarded a bus into the desert, and as she went deeper into the dunes, the first question that came to her was, “Am I going to be safe? Is this even India?”
Five Indian grassroots innovations backed by the Honey Bee Network and the Gujarat Grassroots Innovation Augmentation Network (GIAN) were recognised at the Innovation Team Best Practices (ITBP) Awards 2026, held on 4 June in Paris. India participated as the official Guest Country at the 19th National Meeting of Chief Innovation Officers — France's premier annual gathering of innovation leaders from corporations, universities, research institutions, and public agencies.
“ If you cry because the sun has gone out of your life, your tears will prevent you from seeing the stars. ”
