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President Message
The Gulf war has resulted into spate of problems for MSMEs. The new diesel procurement restrictions have exposed a practical difficulty that was perhaps not fully anticipated from the perspective of micro and small enterprises. Most MSMEs use relatively small diesel generator sets with limited fuel tank capacity and purchase diesel from nearby retail outlets only as and when required. They neither have large storage facilities nor the regulatory approvals needed to store substantial quantities of diesel. The alternative arrangement of bulk delivery is often beyond their operational and financial capacity. As a result, many small manufacturers may find themselves unable to access fuel for backup power during outages, affecting production schedules, delivery commitments and, in some cases, leading to spoilage of perishable goods. FISME will be requesting the Government to introduce a practical mechanism that allows genuine small enterprises to continue procuring limited quantities of diesel for operational needs. As I said before the issue also highlights the importance of reducing dependence on conventional fuels wherever feasible. For many MSMEs, rooftop solar systems are no longer merely an environmental choice but a sound business investment that can enhance energy security and lower operating costs over time. A variety of support schemes, subsidies, concessional financing options and state-level incentives are already available to facilitate such investments. While diesel-based backup power will continue to remain necessary in many situations, the present challenge reinforces the case for accelerating the adoption of solar and other non-conventional energy solutions. FISME encourages MSMEs to actively explore these opportunities and will continue working with policymakers and financial institutions to make the transition more accessible and affordable for small businesses. If you wish to know more about such schemes we would be happy to organize another awareness session to help MSMEs set-up roof top solar panels. Secondly, I think it's high time that the central Government took initiative for providing uninterrupted power supply to the MSME's – which are the real growth engines of our economy GDP and for creation of employment.
FISME President Rakesh Chhabra and Secretary General Anil Bhardwaj met Shri Bharat Harbanslal Khera, Secretary, Ministry of Micro, Small & Medium Enterprises (MoMSME), on 9 June 2026. The meeting focused on key issues affecting MSMEs and explored opportunities to enhance the sector’s contribution to India’s economic growth, employment generation, and competitiveness.
On 5 June 2026, a joint delegation led by ‘Friends of MSME in Parliament’ Convenor Shri Rajendra Agrawal, along with FISME representatives Dinesh Singhal and Secretary General Anil Bhardwaj, met Hon’ble Member of Parliament Shri Shashank Mani at his residence. The discussion focused on key challenges facing MSMEs and explored collaborative measures to strengthen the sector’s growth and policy support.
Many leaderships teams staring down the barrel of organisational transformation face a similar dilemma: How do you take a leap into the unknown when there’s no clear data, no well-trodden path to follow and no assurance of success? What if the change you're considering is uncharted territory, but waiting for certainty means standing still? Over the years, we’ve seen countless organisations struggle with these questions, whether they’re trying to flatten hierarchies, implement new processes or change how decisions are made. Through our five-year study of a company we’ll call Pharma Global* (PG), we uncovered key insights into how executive teams can deftly navigate a high-stakes and uncertain transformation and move forward with conviction.
Days after the Centre notified restrictions on the bulk sale of petrol and diesel through retail outlets, the Federation of Indian Micro and Small & Medium Enterprises (Fisme) is set to approach the government highlighting the operational difficulties that micro and small units may face in running their diesel generator (DG) sets.The Ministry of Petroleum and Natural Gas, had on June 11, issued the Motor Spirit and High Speed Diesel (Temporary Regulation of Supply through Retail Outlets) Order, 2026. Section 3(1) of the order states that institutional, direct, industrial and commercial customers will not procure petroleum products from retail outlets.
India's retail inflation rose to 3.93 per cent in May 2026 from 3.48 per cent in April, according to provisional Consumer Price Index (CPI) data released by the Ministry of Statistics and Programme Implementation on Friday. Rural inflation stood at 4.25 per cent and urban inflation at 3.53 per cent. Food inflation, measured by the Consumer Food Price Index (CFPI), rose to 4.78 per cent from 4.20 per cent the previous month. The personal care, social protection and miscellaneous goods category recorded the sharpest divisional inflation at 18.46 per cent, driven almost entirely by precious metals. Within this group, ‘other personal effects’ — dominated by gold and silver jewellery — saw inflation surge to 56.35 per cent.
The Finance Ministry has waived customs duties on goods imported for nuclear power generation, extending retrospective tax relief to eligible imports made between April 1, 2019 and January 31, 2026. According to a government order issued on June 11, the exemption applies to specified goods imported for nuclear power projects under designated customs tariff categories, reported Business Standard. The move is expected to reduce project costs for nuclear power operators and equipment suppliers by providing duty relief on imports used in the sector during the nearly seven-year period.
India is projected to remain the world's fastest-growing major economy in FY27 despite a moderation in growth, with the economy expected to expand by 6.6 percent amid rising energy prices and higher input costs, according to the latest report by the World Bank. The multilateral lender said India's growth is likely to slow from 7.7 percent in FY26 to 6.6 percent in FY27, reflecting softer private demand growth as businesses and consumers face higher energy and production costs.
The government has extended central excise duty exemptions to petrol blended with higher ethanol content at 22 percent, 25 percent, 27 percent and 30 percent, marking a policy step towards expanding ethanol blending beyond the existing E20 programme. The Department of Revenue, through a set of notifications issued recently, amended multiple excise provisions to allow nil excise duty on ethanol-blended petrol conforming to Bureau of Indian Standards (BIS) specification IS 19850.
The Allahabad High Court has ruled that GST officers in a transit state have no authority to impose penalties on goods passing through their jurisdiction when neither the origin nor the destination of the consignment lies within that state, in a judgment seen as significant for India's ‘One Nation, One Tax’ framework. The ruling came in Maruti Enterprises vs State of Uttar Pradesh & Others, a batch of writ petitions before the court, Tax India Online reported.
Even as the recently-launched Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 has seen impressive response from firms affected by West Asia crisis, the government has extended the Credit Guarantee Scheme for Microfinance Institutions 2.0 (CGSMFI-2.0) deadline to further ease their financial strain. The two credit support schemes are expected to provide a cash cushion to businesses, particularly small enterprises, in the face of disruptions caused by the ongoing West Asia crisis.
The Ministry of Defence has signed a Rs 449 crore contract with Bengaluru-based Accord Software and Systems Private Limited (ASSPL) for the procurement of 20 Enhanced Capability Global Navigation Satellite System (ECGNSS) Jammers for the Indian Navy. The contract was signed under the Buy (Indian–Indigenously Designed, Developed and Manufactured) category and mandates a minimum indigenous content of 75 per cent. The agreement was formalised in the presence of Defence Secretary Rajesh Kumar Singh in New Delhi.
The foundation stone for a new Technology Centre at Khizarsarai in Bihar’s Gaya district was laid on Monday by Union MSME Minister Jitan Ram Manjhi and Bihar Chief Minister Samrat Choudhary, marking a major step towards strengthening the MSME ecosystem and industrial development in southern Bihar. Addressing the event, Dr. Rajneesh, Additional Secretary and Development Commissioner, Ministry of MSME, highlighted the growing contribution of the MSME sector to the Indian economy.
Gujarat has emerged as one of India's leading startup hubs, with more than 19,000 startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), according to an official release. The state has been ranked the Best Performing State in the Startup India Rankings for five consecutive years, reflecting its growing entrepreneurship and innovation ecosystem. According to the release, Gujarat has strengthened startup development through policy support, innovation-focused initiatives and entrepreneurship programmes aimed at students, startups and emerging enterprises, reported ANI.
The Uttar Pradesh Cabinet approved amendments to the Uttar Pradesh Semiconductor Policy 2024, aiming to make it more investor-friendly and strengthen the state's position as a destination for electronics and semiconductor manufacturing investment. The decision was taken at a Cabinet meeting chaired by Chief Minister Yogi Adityanath, ET reported.
Haryana has unveiled the ‘Make in Haryana Industrial Policy 2026’, replacing the Haryana Enterprises and Employment Policy 2020, with a focus on attracting over Rs 5 lakh crore in investments, generating 10 lakh new jobs and doubling the state's merchandise exports during the next five years. The policy, approved by the Council of Ministers on May 18, 2026, will remain in force for five years from the date of notification or until a new policy is introduced.
Prime Minister Narendra Modi and French President Emmanuel Macron held bilateral talks in Nice on June 14 and reviewed progress in the India-France Special Global Strategic Partnership. The two leaders agreed on measures to expand cooperation in defence, trade, technology, innovation and people-to-people ties. The leaders agreed to further strengthen defence collaboration with a focus on co-design, co-development and co-production of defence platforms and advanced technologies.
Oil India Limited (OIL) and Canada’s Petroleum Technology Research Centre (PTRC) have signed a collaboration framework to jointly explore carbon capture, geothermal energy, and other clean energy technologies, the companies said in a statement. The collaboration is aimed at deepening energy cooperation between India and Canada as both countries pursue energy transition and sustainability objectives.
When someone embodies the mission but cannot meet the targets, does purpose count as performance, or is that a comfortable excuse? When GreenRoot hired Kavitha Nair eighteen months ago, the offer letter described her as someone who “embodies our purpose.” It was not corporate language inserted for effect. Leadership genuinely believed it. Kavitha came with deep community experience, a strong reputation for grassroots mobilisation, and the kind of personal commitment to sustainability that people inside GreenRoot admired instinctively.
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 lean marketing can help Indian start-ups avoid the ‘growth at all costs’ trap
Every founder believes their idea is a smart one. The Indian start-up ecosystem is overflowing with innovation, so much so that the landscape has shifted. It’s no longer a dearth of ideas, but a deluge of pitches that now challenges the venture capital world. As serial entrepreneur and start-up pro Rajneesh Bhasin observed,
CODISSIA Urges Centre To Set Up Raw Material Park In Coimbatore To Support MSMEs
The Coimbatore District Small Industries Association (CODISSIA) has urged the Centre to establish a dedicated raw material park in Coimbatore and strengthen support for MSMEs through improved access to finance, renewable energy incentives and logistics infrastructure. In a memorandum submitted to Prime Minister Narendra Modi, outgoing CODISSIA President Karthikeyan said Coimbatore's annual steel requirement is estimated at 1 million tonnes and called for the creation of a raw material park similar to a manufacturing yard to ensure easier access to critical industrial inputs.
From coffee husk to brain health: the science behind Iom Bioworks' prebiotic push
For years, the link between the gut and the brain was treated as wellness folklore. Today it is a closely studied frontier in human health, and a Bengaluru deep-science company is betting it can turn that research into something people can buy.
SolarSquare raises $53M to expand residential solar footprint across India
SolarSquare, a Mumbai-based residential rooftop solar company, has raised $53 million in a Series C funding round led by B Capital, a global investment firm focused on technology, climate and growth-stage businesses. Existing investors Lightspeed, Elevation Capital, Lowercarbon Capital, Rainmatter by Zerodha and Good Capital also participated in the round, taking SolarSquare’s total funding to more than $100 million.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI), has released the Consumer Price Index (CPI) with base 2024=100 for 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:
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The Gulf war has resulted into spate of problems for MSMEs. The new diesel procurement restrictions have exposed a practical difficulty that was perhaps not fully anticipated from the perspective of micro and small enterprises. Most MSMEs use relatively small diesel generator sets with limited fuel tank capacity and purchase diesel from nearby retail outlets only as and when required. They neither have large storage facilities nor the regulatory approvals needed to store substantial quantities of diesel. The alternative arrangement of bulk delivery is often beyond their operational and financial capacity. As a result, many small manufacturers may find themselves unable to access fuel for backup power during outages, affecting production schedules, delivery commitments and, in some cases, leading to spoilage of perishable goods. FISME will be requesting the Government to introduce a practical mechanism that allows genuine small enterprises to continue procuring limited quantities of diesel for operational needs. As I said before the issue also highlights the importance of reducing dependence on conventional fuels wherever feasible. For many MSMEs, rooftop solar systems are no longer merely an environmental choice but a sound business investment that can enhance energy security and lower operating costs over time. A variety of support schemes, subsidies, concessional financing options and state-level incentives are already available to facilitate such investments. While diesel-based backup power will continue to remain necessary in many situations, the present challenge reinforces the case for accelerating the adoption of solar and other non-conventional energy solutions. FISME encourages MSMEs to actively explore these opportunities and will continue working with policymakers and financial institutions to make the transition more accessible and affordable for small businesses. If you wish to know more about such schemes we would be happy to organize another awareness session to help MSMEs set-up roof top solar panels. Secondly, I think it's high time that the central Government took initiative for providing uninterrupted power supply to the MSME's – which are the real growth engines of our economy GDP and for creation of employment.
FISME President Rakesh Chhabra and Secretary General Anil Bhardwaj met Shri Bharat Harbanslal Khera, Secretary, Ministry of Micro, Small & Medium Enterprises (MoMSME), on 9 June 2026. The meeting focused on key issues affecting MSMEs and explored opportunities to enhance the sector’s contribution to India’s economic growth, employment generation, and competitiveness.
On 5 June 2026, a joint delegation led by ‘Friends of MSME in Parliament’ Convenor Shri Rajendra Agrawal, along with FISME representatives Dinesh Singhal and Secretary General Anil Bhardwaj, met Hon’ble Member of Parliament Shri Shashank Mani at his residence. The discussion focused on key challenges facing MSMEs and explored collaborative measures to strengthen the sector’s growth and policy support.
Many leaderships teams staring down the barrel of organisational transformation face a similar dilemma: How do you take a leap into the unknown when there’s no clear data, no well-trodden path to follow and no assurance of success? What if the change you're considering is uncharted territory, but waiting for certainty means standing still? Over the years, we’ve seen countless organisations struggle with these questions, whether they’re trying to flatten hierarchies, implement new processes or change how decisions are made. Through our five-year study of a company we’ll call Pharma Global* (PG), we uncovered key insights into how executive teams can deftly navigate a high-stakes and uncertain transformation and move forward with conviction.
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India's retail inflation rose to 3.93 per cent in May 2026 from 3.48 per cent in April, according to provisional Consumer Price Index (CPI) data released by the Ministry of Statistics and Programme Implementation on Friday. Rural inflation stood at 4.25 per cent and urban inflation at 3.53 per cent. Food inflation, measured by the Consumer Food Price Index (CFPI), rose to 4.78 per cent from 4.20 per cent the previous month. The personal care, social protection and miscellaneous goods category recorded the sharpest divisional inflation at 18.46 per cent, driven almost entirely by precious metals. Within this group, ‘other personal effects’ — dominated by gold and silver jewellery — saw inflation surge to 56.35 per cent.
The Finance Ministry has waived customs duties on goods imported for nuclear power generation, extending retrospective tax relief to eligible imports made between April 1, 2019 and January 31, 2026. According to a government order issued on June 11, the exemption applies to specified goods imported for nuclear power projects under designated customs tariff categories, reported Business Standard. The move is expected to reduce project costs for nuclear power operators and equipment suppliers by providing duty relief on imports used in the sector during the nearly seven-year period.
India is projected to remain the world's fastest-growing major economy in FY27 despite a moderation in growth, with the economy expected to expand by 6.6 percent amid rising energy prices and higher input costs, according to the latest report by the World Bank. The multilateral lender said India's growth is likely to slow from 7.7 percent in FY26 to 6.6 percent in FY27, reflecting softer private demand growth as businesses and consumers face higher energy and production costs.
The government has extended central excise duty exemptions to petrol blended with higher ethanol content at 22 percent, 25 percent, 27 percent and 30 percent, marking a policy step towards expanding ethanol blending beyond the existing E20 programme. The Department of Revenue, through a set of notifications issued recently, amended multiple excise provisions to allow nil excise duty on ethanol-blended petrol conforming to Bureau of Indian Standards (BIS) specification IS 19850.
The Allahabad High Court has ruled that GST officers in a transit state have no authority to impose penalties on goods passing through their jurisdiction when neither the origin nor the destination of the consignment lies within that state, in a judgment seen as significant for India's ‘One Nation, One Tax’ framework. The ruling came in Maruti Enterprises vs State of Uttar Pradesh & Others, a batch of writ petitions before the court, Tax India Online reported.
Even as the recently-launched Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 has seen impressive response from firms affected by West Asia crisis, the government has extended the Credit Guarantee Scheme for Microfinance Institutions 2.0 (CGSMFI-2.0) deadline to further ease their financial strain. The two credit support schemes are expected to provide a cash cushion to businesses, particularly small enterprises, in the face of disruptions caused by the ongoing West Asia crisis.
The Ministry of Defence has signed a Rs 449 crore contract with Bengaluru-based Accord Software and Systems Private Limited (ASSPL) for the procurement of 20 Enhanced Capability Global Navigation Satellite System (ECGNSS) Jammers for the Indian Navy. The contract was signed under the Buy (Indian–Indigenously Designed, Developed and Manufactured) category and mandates a minimum indigenous content of 75 per cent. The agreement was formalised in the presence of Defence Secretary Rajesh Kumar Singh in New Delhi.
The foundation stone for a new Technology Centre at Khizarsarai in Bihar’s Gaya district was laid on Monday by Union MSME Minister Jitan Ram Manjhi and Bihar Chief Minister Samrat Choudhary, marking a major step towards strengthening the MSME ecosystem and industrial development in southern Bihar. Addressing the event, Dr. Rajneesh, Additional Secretary and Development Commissioner, Ministry of MSME, highlighted the growing contribution of the MSME sector to the Indian economy.
Gujarat has emerged as one of India's leading startup hubs, with more than 19,000 startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), according to an official release. The state has been ranked the Best Performing State in the Startup India Rankings for five consecutive years, reflecting its growing entrepreneurship and innovation ecosystem. According to the release, Gujarat has strengthened startup development through policy support, innovation-focused initiatives and entrepreneurship programmes aimed at students, startups and emerging enterprises, reported ANI.
The Uttar Pradesh Cabinet approved amendments to the Uttar Pradesh Semiconductor Policy 2024, aiming to make it more investor-friendly and strengthen the state's position as a destination for electronics and semiconductor manufacturing investment. The decision was taken at a Cabinet meeting chaired by Chief Minister Yogi Adityanath, ET reported.
Haryana has unveiled the ‘Make in Haryana Industrial Policy 2026’, replacing the Haryana Enterprises and Employment Policy 2020, with a focus on attracting over Rs 5 lakh crore in investments, generating 10 lakh new jobs and doubling the state's merchandise exports during the next five years. The policy, approved by the Council of Ministers on May 18, 2026, will remain in force for five years from the date of notification or until a new policy is introduced.
Prime Minister Narendra Modi and French President Emmanuel Macron held bilateral talks in Nice on June 14 and reviewed progress in the India-France Special Global Strategic Partnership. The two leaders agreed on measures to expand cooperation in defence, trade, technology, innovation and people-to-people ties. The leaders agreed to further strengthen defence collaboration with a focus on co-design, co-development and co-production of defence platforms and advanced technologies.
Oil India Limited (OIL) and Canada’s Petroleum Technology Research Centre (PTRC) have signed a collaboration framework to jointly explore carbon capture, geothermal energy, and other clean energy technologies, the companies said in a statement. The collaboration is aimed at deepening energy cooperation between India and Canada as both countries pursue energy transition and sustainability objectives.
According to the FISME factor, 100% of MSMEs believe that high initial investment costs are the main barriers to adopting clean energy solutions. 
When someone embodies the mission but cannot meet the targets, does purpose count as performance, or is that a comfortable excuse? When GreenRoot hired Kavitha Nair eighteen months ago, the offer letter described her as someone who “embodies our purpose.” It was not corporate language inserted for effect. Leadership genuinely believed it. Kavitha came with deep community experience, a strong reputation for grassroots mobilisation, and the kind of personal commitment to sustainability that people inside GreenRoot admired instinctively.
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?
Every founder believes their idea is a smart one. The Indian start-up ecosystem is overflowing with innovation, so much so that the landscape has shifted. It’s no longer a dearth of ideas, but a deluge of pitches that now challenges the venture capital world. As serial entrepreneur and start-up pro Rajneesh Bhasin observed,
The Coimbatore District Small Industries Association (CODISSIA) has urged the Centre to establish a dedicated raw material park in Coimbatore and strengthen support for MSMEs through improved access to finance, renewable energy incentives and logistics infrastructure. In a memorandum submitted to Prime Minister Narendra Modi, outgoing CODISSIA President Karthikeyan said Coimbatore's annual steel requirement is estimated at 1 million tonnes and called for the creation of a raw material park similar to a manufacturing yard to ensure easier access to critical industrial inputs.
For years, the link between the gut and the brain was treated as wellness folklore. Today it is a closely studied frontier in human health, and a Bengaluru deep-science company is betting it can turn that research into something people can buy.
SolarSquare, a Mumbai-based residential rooftop solar company, has raised $53 million in a Series C funding round led by B Capital, a global investment firm focused on technology, climate and growth-stage businesses. Existing investors Lightspeed, Elevation Capital, Lowercarbon Capital, Rainmatter by Zerodha and Good Capital also participated in the round, taking SolarSquare’s total funding to more than $100 million.
