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President Message
The launch of FISME’s AI & Digital Technologies Centre for MSMEs, with Google India and Qualcomm Technologies as founding partners, marks an important step towards bringing AI into the everyday working of small businesses. For an entrepreneur, its value lies in practical results: finding customers, preparing quotations faster, reducing paperwork, improving quality and managing inventory. Our approach will therefore begin with business problems and connect MSMEs with experts who can help develop, deploy and demonstrate useful, affordable solutions. We are grateful to Shri Sujeet Kumar, Member of Parliament, and Shri Bharat Khera, Secretary, Ministry of MSME, for joining us at the launch. Through FISME’s nationwide network of industry associations, we intend to take this initiative into industrial clusters and build a shared repository of proven use cases, implementation experience and trusted expertise. A solution that works for one enterprise should become easier for others to adopt. The Centre will remain open to diverse technologies and partnerships, welcoming contributions from technology providers, start-ups, academic institutions and government agencies. I invite our member associations and entrepreneurs to bring forward their business challenges and participate actively in making AI a practical source of productivity and competitiveness for Indian MSMEs.
FISME, in association with Google and Qualcomm Technologies, launched an AI & Digital Technologies Centre for MSMEs on 6 October 2026 to promote the practical adoption of artificial intelligence and digital technologies among small businesses. Inaugurated in the presence of Bharat Harbanslal Khera, Secretary, Ministry of MSME, the centre marks the launch of a multi-city awareness campaign, ‘Making AI Work for MSMEs’. It will connect MSMEs with technology providers, AI experts, start-ups, academic institutions and government programmes to develop practical AI solutions, support their deployment, and document successful use cases and best practices.
Business owners are heading into 2026 with cautious optimism — and a clear appetite for growth. According to Bank of America’s latest Business Owner Report, 74% expect revenue to rise in the coming year, and nearly 60% plan to expand their businesses. Confidence extends beyond their own operations: More than half believe local economies will improve, and nearly half expect national and global conditions to strengthen. But optimism alone isn’t a strategy. To turn confidence into sustainable success, entrepreneurs must prepare for an environment still shaped by inflation, supply chain challenges and shifting policies.
Google.org has committed USD 15 million in funding to The/Nudge to support the growth and digital transformation of India's micro, small and medium enterprises (MSMEs) through artificial intelligence (AI). Announced in New Delhi on October 14, the initiative will develop AI-powered solutions to improve MSMEs' access to formal credit, compliance tools and market opportunities.India has more than 90 million small businesses employing over 345 million people, according to the organisations, reported The Times Of IndiaThe programme will include an open call for proposals to identify innovative solutions addressing challenges related....
Domestic automobile sales across major vehicle segments rose 18.2 per cent year-on-year (YoY) to a record 83.88 lakh units in the July-September quarter of FY27, with passenger vehicles, two-wheelers, three-wheelers and commercial vehicles all registering their highest-ever second-quarter sales, according to the Society of Indian Automobile Manufacturers (SIAM). Passenger vehicle sales grew 30.7 per cent to 13.61 lakh units, while two-wheeler sales increased 15.2 per cent to 64.33 lakh units. Three-wheeler sales rose 23.6 per cent to 2.85 lakh units, and commercial vehicle sales grew 28.7 per cent to 3.09 lakh units.
India is expected to remain the fastest-growing major steel market globally, with demand projected to rise 7.9 per cent in 2026 to 172.4 million tonnes and a further 8 per cent in 2027 to 186.2 million tonnes, according to the World Steel Association (worldsteel). The association's October 2026 Short Range Outlook said India's growth would be supported by infrastructure construction, steady private real estate activity, machinery investments and automotive manufacturing, ANI reported.
The International Monetary Fund (IMF) has raised India’s gross domestic product (GDP) growth forecast for FY27 by 60 basis points to 7 per cent, citing resilient domestic demand and robust services activity. In its October 2026 World Economic Outlook (WEO), released on Tuesday, the Fund also raised its growth projection for FY28 by 30 basis points to 7 per cent, from 6.7 per cent estimated in July. The revisions reflect stronger-than-expected economic momentum, supported by domestic consumption and services activity, according to the report.
The World Bank Group has helped mobilise USD 36 billion in private capital for development across India over the past four years, including USD 9.6 billion for micro, small and medium enterprises (MSMEs), to support private sector-led growth and employment generation. Manuel Reyes-Retana, Division Director for South Asia, International Finance Corporation (IFC), a member of the World Bank Group, said private capital mobilisation by the group had increased nearly fivefold, from around USD 3 billion in FY22 to USD 14.5 billion in FY26.
The Reserve Bank of India (RBI) on Monday restricted non-deliverable rupee derivatives for overseas clients to hedging purposes and extended the 20 per cent cash reserve requirement to banks’ own currency hedges. The measures are part of a series of steps announced since Saturday to support the rupee amid rising oil prices and capital outflows. RBI Restricts Overseas Rupee Derivatives To Hedging Banks operating through units in India’s International Financial Services Centre and certain primary dealers can now offer non-deliverable rupee derivatives to non-residents only for hedging, the RBI said.
India has initiated an anti-dumping investigation into imports of Penicillin G and its salts from China following a complaint by domestic manufacturer Lyfius Pharma, which alleged that the imports were causing material retardation to the domestic industry. The Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce and Industry, said there was sufficient prima facie evidence that the product was being dumped in the Indian market. Lyfius Pharma has sought the imposition of anti-dumping duties.
The 50th India Carpet Expo in Bhadohi has attracted more than 212 foreign buyers and 231 buying representatives during its first three days, reflecting strong international interest in India’s handmade carpet industry. Organised by the Carpet Export Promotion Council (CEPC), the four-day expo was inaugurated by Uttar Pradesh Chief Minister Yogi Adityanath on October 4. During the event, CEPC signed a memorandum of understanding (MoU) with Walmart Vriddhi to support micro, small and medium enterprises (MSMEs) and emerging entrepreneurs in expanding their businesses and improving market access.
Mahanadi Coalfields Limited (MCL) has signed memorandums of understanding with the Sundargarh district administration for five corporate social responsibility (CSR) projects worth Rs 22.64 crore in Odisha. The projects include rejuvenation of Kata Bandha at Rs 4.32 crore, Brahamani Bandha at Rs 3.98 crore and Abdul Hussain Bandha at Rs 2.69 crore. Other projects cover freshwater inland aquaculture in mining-affected areas of Hemgir block at Rs 3.81 crore and renovation, improvement and construction of tanks under the Talsara Assembly constituency at Rs 7.84 crore.Hire PM Experts
The Delhi Cabinet has approved the Delhi Industrial Policy 2026, a 10-year roadmap to attract investment, modernise industries and create jobs, focusing on clean technology, advanced manufacturing and knowledge-based sectors. The government has allocated Rs 1,000 crore for the Mukhyamantri Udyamshree Yojana between 2026-27 and 2030-31 to boost industrial growth and employment. The policy identifies 10 priority sectors, including IT, GCCs, data centres, healthcare, R&D, urban logistics, circular economy, precision manufacturing, skill development and MSME modernisation.
The Meghalaya Cabinet on Tuesday approved an ordinance to simplify clearance procedures for micro, small and medium enterprises (MSMEs), allowing entrepreneurs to apply for multiple approvals simultaneously to speed up the establishment of business operations. Chief Minister Conrad K Sangma said the Meghalaya Micro, Small and Medium Enterprises Facilitation and Establishment of Operations Ordinance would make it easier for businesses to obtain the necessary clearances without removing any existing regulatory requirements.
Gujarat has introduced a comprehensive MSME incentive scheme covering capital investment, loan interest, electricity costs, employment, technology adoption and quality certification. Launched under the Viksit Gujarat Industrial Policy-2026, it will run from June 1, 2026, to May 31, 2031. Announced by the Industries and Mines Department under Chief Minister Bhupendra Patel and Deputy Chief Minister Harsh Sanghavi, the scheme offers multiple incentives, with enhanced benefits for thrust sectors such as sports equipment, toys, footwear, robotics and drones, subject to prescribed conditions and limits.
India and Brunei Darussalam reviewed bilateral trade and economic cooperation at the third meeting of their Joint Trade Committee (JTC), focusing on market access, export opportunities and business-to-business exchanges. The meeting was co-chaired by Amit Verma, Joint Secretary in the Department of Commerce, Ministry of Commerce and Industry, and May Fa’ezah Ahmad Ariffin, Permanent Secretary (Economy and Trade) in Brunei Darussalam’s Ministry of Economy, Trade and Industry.
Japan emerged as the largest source of foreign direct investment (FDI) into India in the April-June quarter of FY27, with inflows accounting for nearly 29 per cent of the country’s total equity investments during the period, according to government data.India received USD 5.71 billion in FDI from Japan during the quarter, compared with USD 19.81 billion in total equity inflows. The latest quarterly investment also exceeded the USD 3.74 billion received from Japan during the entire 2025-26 fiscal year.Japan has committed to investing 10 trillion yen in India over a decade under an investment target announced in 2025, reported PTI.
Do you think the FTA can help India become more competitive and emerge as an export hub?
According to the FISME factor, 40% of MSMEs believe that the FTA can help India become more competitive and emerge as an export hub, while 60% are unable to say.
The GRPI model: Why team problems are not always people problems
When a team stops performing, the explanation often comes quickly. People are not communicating. Personalities are clashing. Trust has broken down. The GRPI model suggests looking somewhere else first. GRPI stands for Goals, Roles, Processes and Interpersonal Relationships. It is a framework for diagnosing team effectiveness by examining four interconnected elements, usually in that order. Goals establish what the team is trying to achieve. Roles clarify who is responsible for what. Processes determine how decisions are made, work is coordinated and disagreements are resolved.
India’s micro, small and medium enterprises (MSMEs) are central to the country’s economic journey. They create jobs, nurture entrepreneurship, support larger industries, and spread economic activity far beyond major urban centres. Indeed, for many first-generation entrepreneurs, the MSME route is the most practical path into formal economic participation. Yet, even as their importance for inclusive growth is widely acknowledged, a familiar concern persists. MSMEs remain small and vulnerable to shocks due to a lack of appropriate finance.
How To Create A Marketing Plan For Your Small Business
There are many steps that go into launching a successful business. A crucial one is developing a marketing plan, as all business plans should be paired with a strategy for marketing your products or services. Marketing strategies vary in format, but they all have the goal of attracting and building relationships with customers. The style is up to you and there are numerous templates available online. Regardless of your template, every marketing plan should include the following elements.
Kraft Paper Price Hikes Put 30,000 Corrugated Packaging MSMEs Under Financial Pressure
The corrugated packaging industry is facing renewed financial pressure as kraft paper mills continue to raise prices ahead of the festive season, squeezing margins and working capital for box manufacturers. According to the Uttar Pradesh Corrugated Box Manufacturers Association, kraft paper prices have increased by around 25-30 per cent in less than two months, while prices of high-BF kraft paper have risen further.
Pramatra Space is building chip-based quantum security for space and ground networks
Bengaluru-based Pramatra Space is building on the quantum-security technology it has been developing since 2023. The startup has completed a third tape-out of its quantum key distribution (QKD) chip, filed its final patent, and is seeing growing interest in using the technology for terrestrial applications.
Founder and CEO Richa Hukumchand says that the 11-member startup plans to raise a funding round soon. She also says Pramatra's QKD chip has progressed from two tape-outs at the time of the previous update to three.
Hypersonic Technologies is turning methane into hydrogen and carbon black
Hydrogen is expected to play a larger role in helping industries cut emissions, but conventional production methods can leave a significant carbon footprint. Chennai-based Hypersonic Technologies is working on an alternative that produces hydrogen alongside carbon black, a commercially useful material used in tyres, rubber and pigments.
Founded in 2023 by Jayaraman Kandasamy and Jayakumar Venkatesan, the climate-tech startup uses staged-plasma pyrolysis to convert methane and biomethane into hydrogen and solid carbon. By producing two materials through one process, it aims to help industrial customers offset production costs while reducing emissions.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI), has released the Consumer Price Index (CPI) on the base year of 2024=100 for September, 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 launch of FISME’s AI & Digital Technologies Centre for MSMEs, with Google India and Qualcomm Technologies as founding partners, marks an important step towards bringing AI into the everyday working of small businesses. For an entrepreneur, its value lies in practical results: finding customers, preparing quotations faster, reducing paperwork, improving quality and managing inventory. Our approach will therefore begin with business problems and connect MSMEs with experts who can help develop, deploy and demonstrate useful, affordable solutions. We are grateful to Shri Sujeet Kumar, Member of Parliament, and Shri Bharat Khera, Secretary, Ministry of MSME, for joining us at the launch. Through FISME’s nationwide network of industry associations, we intend to take this initiative into industrial clusters and build a shared repository of proven use cases, implementation experience and trusted expertise. A solution that works for one enterprise should become easier for others to adopt. The Centre will remain open to diverse technologies and partnerships, welcoming contributions from technology providers, start-ups, academic institutions and government agencies. I invite our member associations and entrepreneurs to bring forward their business challenges and participate actively in making AI a practical source of productivity and competitiveness for Indian MSMEs.
FISME, in association with Google and Qualcomm Technologies, launched an AI & Digital Technologies Centre for MSMEs on 6 October 2026 to promote the practical adoption of artificial intelligence and digital technologies among small businesses. Inaugurated in the presence of Bharat Harbanslal Khera, Secretary, Ministry of MSME, the centre marks the launch of a multi-city awareness campaign, ‘Making AI Work for MSMEs’. It will connect MSMEs with technology providers, AI experts, start-ups, academic institutions and government programmes to develop practical AI solutions, support their deployment, and document successful use cases and best practices.
Business owners are heading into 2026 with cautious optimism — and a clear appetite for growth. According to Bank of America’s latest Business Owner Report, 74% expect revenue to rise in the coming year, and nearly 60% plan to expand their businesses. Confidence extends beyond their own operations: More than half believe local economies will improve, and nearly half expect national and global conditions to strengthen. But optimism alone isn’t a strategy. To turn confidence into sustainable success, entrepreneurs must prepare for an environment still shaped by inflation, supply chain challenges and shifting policies.
Domestic automobile sales across major vehicle segments rose 18.2 per cent year-on-year (YoY) to a record 83.88 lakh units in the July-September quarter of FY27, with passenger vehicles, two-wheelers, three-wheelers and commercial vehicles all registering their highest-ever second-quarter sales, according to the Society of Indian Automobile Manufacturers (SIAM). Passenger vehicle sales grew 30.7 per cent to 13.61 lakh units, while two-wheeler sales increased 15.2 per cent to 64.33 lakh units. Three-wheeler sales rose 23.6 per cent to 2.85 lakh units, and commercial vehicle sales grew 28.7 per cent to 3.09 lakh units.
India is expected to remain the fastest-growing major steel market globally, with demand projected to rise 7.9 per cent in 2026 to 172.4 million tonnes and a further 8 per cent in 2027 to 186.2 million tonnes, according to the World Steel Association (worldsteel). The association's October 2026 Short Range Outlook said India's growth would be supported by infrastructure construction, steady private real estate activity, machinery investments and automotive manufacturing, ANI reported.
The International Monetary Fund (IMF) has raised India’s gross domestic product (GDP) growth forecast for FY27 by 60 basis points to 7 per cent, citing resilient domestic demand and robust services activity. In its October 2026 World Economic Outlook (WEO), released on Tuesday, the Fund also raised its growth projection for FY28 by 30 basis points to 7 per cent, from 6.7 per cent estimated in July. The revisions reflect stronger-than-expected economic momentum, supported by domestic consumption and services activity, according to the report.
The World Bank Group has helped mobilise USD 36 billion in private capital for development across India over the past four years, including USD 9.6 billion for micro, small and medium enterprises (MSMEs), to support private sector-led growth and employment generation. Manuel Reyes-Retana, Division Director for South Asia, International Finance Corporation (IFC), a member of the World Bank Group, said private capital mobilisation by the group had increased nearly fivefold, from around USD 3 billion in FY22 to USD 14.5 billion in FY26.
The Reserve Bank of India (RBI) on Monday restricted non-deliverable rupee derivatives for overseas clients to hedging purposes and extended the 20 per cent cash reserve requirement to banks’ own currency hedges. The measures are part of a series of steps announced since Saturday to support the rupee amid rising oil prices and capital outflows. RBI Restricts Overseas Rupee Derivatives To Hedging Banks operating through units in India’s International Financial Services Centre and certain primary dealers can now offer non-deliverable rupee derivatives to non-residents only for hedging, the RBI said.
India has initiated an anti-dumping investigation into imports of Penicillin G and its salts from China following a complaint by domestic manufacturer Lyfius Pharma, which alleged that the imports were causing material retardation to the domestic industry. The Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce and Industry, said there was sufficient prima facie evidence that the product was being dumped in the Indian market. Lyfius Pharma has sought the imposition of anti-dumping duties.
The 50th India Carpet Expo in Bhadohi has attracted more than 212 foreign buyers and 231 buying representatives during its first three days, reflecting strong international interest in India’s handmade carpet industry. Organised by the Carpet Export Promotion Council (CEPC), the four-day expo was inaugurated by Uttar Pradesh Chief Minister Yogi Adityanath on October 4. During the event, CEPC signed a memorandum of understanding (MoU) with Walmart Vriddhi to support micro, small and medium enterprises (MSMEs) and emerging entrepreneurs in expanding their businesses and improving market access.
Mahanadi Coalfields Limited (MCL) has signed memorandums of understanding with the Sundargarh district administration for five corporate social responsibility (CSR) projects worth Rs 22.64 crore in Odisha. The projects include rejuvenation of Kata Bandha at Rs 4.32 crore, Brahamani Bandha at Rs 3.98 crore and Abdul Hussain Bandha at Rs 2.69 crore. Other projects cover freshwater inland aquaculture in mining-affected areas of Hemgir block at Rs 3.81 crore and renovation, improvement and construction of tanks under the Talsara Assembly constituency at Rs 7.84 crore.Hire PM Experts
The Delhi Cabinet has approved the Delhi Industrial Policy 2026, a 10-year roadmap to attract investment, modernise industries and create jobs, focusing on clean technology, advanced manufacturing and knowledge-based sectors. The government has allocated Rs 1,000 crore for the Mukhyamantri Udyamshree Yojana between 2026-27 and 2030-31 to boost industrial growth and employment. The policy identifies 10 priority sectors, including IT, GCCs, data centres, healthcare, R&D, urban logistics, circular economy, precision manufacturing, skill development and MSME modernisation.
The Meghalaya Cabinet on Tuesday approved an ordinance to simplify clearance procedures for micro, small and medium enterprises (MSMEs), allowing entrepreneurs to apply for multiple approvals simultaneously to speed up the establishment of business operations. Chief Minister Conrad K Sangma said the Meghalaya Micro, Small and Medium Enterprises Facilitation and Establishment of Operations Ordinance would make it easier for businesses to obtain the necessary clearances without removing any existing regulatory requirements.
Gujarat has introduced a comprehensive MSME incentive scheme covering capital investment, loan interest, electricity costs, employment, technology adoption and quality certification. Launched under the Viksit Gujarat Industrial Policy-2026, it will run from June 1, 2026, to May 31, 2031. Announced by the Industries and Mines Department under Chief Minister Bhupendra Patel and Deputy Chief Minister Harsh Sanghavi, the scheme offers multiple incentives, with enhanced benefits for thrust sectors such as sports equipment, toys, footwear, robotics and drones, subject to prescribed conditions and limits.
India and Brunei Darussalam reviewed bilateral trade and economic cooperation at the third meeting of their Joint Trade Committee (JTC), focusing on market access, export opportunities and business-to-business exchanges. The meeting was co-chaired by Amit Verma, Joint Secretary in the Department of Commerce, Ministry of Commerce and Industry, and May Fa’ezah Ahmad Ariffin, Permanent Secretary (Economy and Trade) in Brunei Darussalam’s Ministry of Economy, Trade and Industry.
Japan emerged as the largest source of foreign direct investment (FDI) into India in the April-June quarter of FY27, with inflows accounting for nearly 29 per cent of the country’s total equity investments during the period, according to government data.India received USD 5.71 billion in FDI from Japan during the quarter, compared with USD 19.81 billion in total equity inflows. The latest quarterly investment also exceeded the USD 3.74 billion received from Japan during the entire 2025-26 fiscal year.Japan has committed to investing 10 trillion yen in India over a decade under an investment target announced in 2025, reported PTI.
According to the FISME factor, 40% of MSMEs believe that the FTA can help India become more competitive and emerge as an export hub, while 60% are unable to say.
When a team stops performing, the explanation often comes quickly. People are not communicating. Personalities are clashing. Trust has broken down. The GRPI model suggests looking somewhere else first. GRPI stands for Goals, Roles, Processes and Interpersonal Relationships. It is a framework for diagnosing team effectiveness by examining four interconnected elements, usually in that order. Goals establish what the team is trying to achieve. Roles clarify who is responsible for what. Processes determine how decisions are made, work is coordinated and disagreements are resolved.
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India’s micro, small and medium enterprises (MSMEs) are central to the country’s economic journey. They create jobs, nurture entrepreneurship, support larger industries, and spread economic activity far beyond major urban centres. Indeed, for many first-generation entrepreneurs, the MSME route is the most practical path into formal economic participation. Yet, even as their importance for inclusive growth is widely acknowledged, a familiar concern persists. MSMEs remain small and vulnerable to shocks due to a lack of appropriate finance.
There are many steps that go into launching a successful business. A crucial one is developing a marketing plan, as all business plans should be paired with a strategy for marketing your products or services. Marketing strategies vary in format, but they all have the goal of attracting and building relationships with customers. The style is up to you and there are numerous templates available online. Regardless of your template, every marketing plan should include the following elements.
The corrugated packaging industry is facing renewed financial pressure as kraft paper mills continue to raise prices ahead of the festive season, squeezing margins and working capital for box manufacturers. According to the Uttar Pradesh Corrugated Box Manufacturers Association, kraft paper prices have increased by around 25-30 per cent in less than two months, while prices of high-BF kraft paper have risen further.
Bengaluru-based Pramatra Space is building on the quantum-security technology it has been developing since 2023. The startup has completed a third tape-out of its quantum key distribution (QKD) chip, filed its final patent, and is seeing growing interest in using the technology for terrestrial applications.
Founder and CEO Richa Hukumchand says that the 11-member startup plans to raise a funding round soon. She also says Pramatra's QKD chip has progressed from two tape-outs at the time of the previous update to three.
Hydrogen is expected to play a larger role in helping industries cut emissions, but conventional production methods can leave a significant carbon footprint. Chennai-based Hypersonic Technologies is working on an alternative that produces hydrogen alongside carbon black, a commercially useful material used in tyres, rubber and pigments.
Founded in 2023 by Jayaraman Kandasamy and Jayakumar Venkatesan, the climate-tech startup uses staged-plasma pyrolysis to convert methane and biomethane into hydrogen and solid carbon. By producing two materials through one process, it aims to help industrial customers offset production costs while reducing emissions.
“ Opportunity is missed by most people because it is dressed in overalls and looks like work. ”
