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President Message
India's BRICS Chairship has succeeded in bringing MSMEs much closer to the centre of the economic cooperation agenda. The recognition of the BRICS SME Forum, the proposed work on invoice discounting and alternative credit assessment, cooperation on standards, technology and AI, and initiatives for stronger integration of MSMEs into global value chains are encouraging developments. For smaller enterprises, however, the real value of such international cooperation will ultimately be measured not by the number of declarations or institutions created, but by how much easier it becomes for an MSME to find a buyer, finance an export order, meet a standard, receive payment and resolve a commercial dispute across borders. FISME has therefore called for the next phase of BRICS cooperation to move decisively from dialogue to implementation. India's experience with digital enterprise identification, GST-based data, electronic receivables financing and digital payments offers useful building blocks for developing practical mechanisms for MSME trade finance and cross-border transactions. Similarly, cooperation on standards should progressively reduce repetitive testing and certification, while technology institutions should reach the factory floor through demonstrations, AI-readiness assessments, technology matchmaking and affordable, vendor-neutral solutions. The opportunity before BRICS is significant: to demonstrate that international economic cooperation can work not only for large corporations, but also for millions of smaller enterprises. The guiding principle should be simple—make cross-border business for MSMEs less costly, less risky and less complicated. FISME will continue to work with the Government of India and partner institutions across BRICS to help translate the commitments made under India's Chairship into mechanisms that MSMEs and industrial clusters can actually use.
For years, sustainability was largely associated with reporting frameworks, disclosures, and compliance mandates. But for ABB India, the local arm of the Swiss engineering giant, the conversation is increasingly shifting towards operational efficiency, circularity and long-term industrial resilience. The company has been recognised as the Most Sustainable Company in Capital Goods in the category of Sectoral Excellence in Manufacturing in this year's BT India’s Most Sustainable Companies. Guided by a three-pillar framework focused on enabling a low-carbon society, preserving resources, and driving social progress, ABB India is embedding sustainability into everything from factory operations and customer solutions to supplier engagement and community development.
The Federation of Indian Micro, Small and Medium Enterprises (Fisme) has called for a practical implementation agenda to translate the New Delhi Declaration adopted at the 18th Brics Summit into easier access to trade finance, technology and overseas markets for micro, small and medium enterprises (MSMEs).Welcoming the Declaration’s focus on MSMEs, Fisme said the next phase of cooperation among Brics countries should move beyond sharing experiences and create mechanisms enabling smaller enterprises to trade, invest, collaborate and adopt technologies across member countries....
India will be able to export up to 1.64 million metric tonnes of steel annually to the European Union (EU) under the India-EU free trade agreement (FTA), significantly expanding preferential market access, but exporters will continue to face carbon-related costs under the EU’s Carbon Border Adjustment Mechanism (CBAM), according to the pact’s legal text.The agreement provides India with an additional preferential quota of 694,853 tonnes, over and above the existing 946,616-tonne WTO quota.
Prime Minister Modi on Sunday said India has launched a BRICS MSME Cooperation Portal to connect small businesses across member countries with knowledge, finance and new markets, as New Delhi pushed greater cooperation among micro, small and medium enterprises during its 2026 chairship. Addressing the 18th BRICS Summit in New Delhi, Modi said cooperation within the grouping should extend beyond governments. “Our entrepreneurs, farmers, researchers, women, youth and ordinary citizens should also become active participants in it,” the Firstpost reported.
Brent crude oil prices surged to a four-month high of USD 108.77 per barrel on Friday as tensions in West Asia escalated, raising concerns over the impact of higher energy costs on India’s economic growth, inflation and external sector. Brent was trading at around USD 107.75 per barrel at the time of reporting, after gaining more than 12 per cent over the past week amid concerns over global energy supplies and disruptions to key energy corridors.
NPCI Bharat BillPay (NBBL) has proposed a centralised digital infrastructure to connect invoices, payments, reconciliation and financing, aimed at helping micro, small and medium enterprises (MSMEs) convert sales into cash and cash flows into formal credit.The proposed system could help address the MSME sector’s estimated Rs 60 lakh crore formal credit gap while reducing delays and costs associated with payment collection and reconciliation.
The Ministry of MSME and the Directorate General of Foreign Trade (DGFT) held a webinar for exporters and stakeholders, highlighting a range of measures under the Export Promotion Mission (EPM) to ease financing, compliance, logistics and market-access challenges faced by micro, small and medium enterprises (MSMEs).The flagship mission, jointly implemented by the Department of Commerce, Ministry of MSME and Ministry of Finance, covers the exporter journey from market intelligence and product analysis to pre- and post-shipment finance, trade compliance, logistics and access to emerging markets.
The Insolvency and Bankruptcy Board of India (IBBI) has directed insolvency professionals (IPs) to remain vigilant and conduct due diligence where circumstances suggest that the insolvency process may be misused for purposes other than resolution or liquidation of a corporate debtor.In a September 9, 2026, circular issued under Section 196 of the Insolvency and Bankruptcy Code (IBC), 2016, the regulator said it had received information from law enforcement and regulatory agencies about instances of the IBC allegedly being used to mitigate tax liabilities, avoid regulatory scrutiny, investigations or penalties, and monetise or ring-fence assets.
Google on Thursday announced five new sustainability and clean-energy initiatives in India covering rooftop solar, utility-scale solar, climate-smart farming, climate technology research and AI-led climate innovation. The initiatives will use artificial intelligence (AI), geospatial data and satellite technology to support India's clean energy transition and climate goals.Google's Solar API will provide solar potential assessments for more than 300 million rooftops in India, helping installers reduce the time and cost of site surveys.
The India-UK Comprehensive Economic and Trade Agreement (CETA) is set to create new market access for Haryana’s textiles, footwear, gems and jewellery and engineering sectors, Chief Minister Nayab Singh Saini said on Monday. Addressing the ‘Haryana-UK CETA Trade Bridge: Unlocking Global Opportunities for Haryana’ programme, Saini said the state would leverage the agreement to turn its industrial strengths into export orders, investments and jobs, particularly for MSMEs, startups and young entrepreneurs.
A total of 2,876 MSME units have commenced operations across 19 MSME parks in Andhra Pradesh, with the State government planning to establish 175 parks, one in each Assembly constituency, MSME Minister Kondapalli Srinivas said. Of the planned parks, 19 have been inaugurated and 138 are under construction, Srinivas said. He also stated that industrial projects in the State had attracted investments worth Rs 24 lakh crore during the two years of the coalition government, The Indian Express reported.
The Odisha Cabinet has approved an investment proposal of Rs 15,948.70 crore under the Mukhya Mantri Shakti Bikash Yojana (MMSBY) to strengthen and expand the state’s electricity transmission infrastructure. Chief Secretary Anu Garg said the investment will support rising industrial and urban power demand and facilitate renewable energy evacuation, According to the New Indian express.
The Asian Development Bank (ADB) has signed its first transaction advisory services (TAS) agreement in India with the Madhya Pradesh government to support the development of three renewable energy projects expected to attract up to USD 1 billion in private investment. ADB Country Director for India Mio Oka signed the agreement in Bhopal in the presence of Madhya Pradesh Chief Minister Mohan Yadav, ADB said in a release.
India and Canada on Monday began the fourth round of negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA) in New Delhi, with both sides seeking to conclude the talks by the end of this year, an official said. The five-day round, scheduled from September 14 to 18, will focus on key areas including trade in goods and services, rules of origin and technical barriers to trade. The third round of negotiations was held in Ottawa in July, the official noted, PTI reported. The negotiations assume significance as India and Canada have set a target of increasing bilateral trade to USD 50 billion by 2030.
The US Commerce Department has finalised steep anti-dumping and countervailing duties on solar cells and panels imported from India, Indonesia and Laos, citing dumping and unfair government subsidies. Indian producers face a final anti-dumping duty of 123.04 per cent and a countervailing duty of 126.09 per cent under the Commerce Department’s determination. For Indonesian producers, anti-dumping duties were set at 94.36 per cent, while countervailing duties range from 73.2 per cent to 173.7 per cent. Lao producers face an anti-dumping duty of 65.43 per cent and countervailing duties ranging from 82.03 per cent to 153.67 per cent.
Which factor is currently contributing most to growth in your business?
According to the FISME factor, 100% of MSMEs believe that government spending and infrastructure are currently contributing most to growth in
your business?
Does unlimited leave actually make employees feel more free?
What if giving employees unlimited leave actually makes them take less of it? As organisations rethink traditional workplace policies in favour of greater flexibility, unlimited leave has emerged as an attractive proposition. It promises employees greater autonomy while signalling that organisations trust them to manage their own time. Yet the absence of a defined leave limit can create an unintended dilemma. When there is no clear benchmark, employees may become more conscious of how much leave they are taking, particularly in cultures where visibility, performance and commitment are closely linked to career growth.
How financial fitness can help entrepreneurs achieve long-term success
Being an entrepreneur is no small feat. You’re constantly juggling tasks, taking risks, and putting your heart into building something meaningful. But amidst all the hustle, one thing that often takes a backseat is your financial health. Just like physical fitness keeps your body in shape, financial fitness ensures your business and personal finances remain strong and resilient over the long term. Let’s explore how focusing on financial fitness can help you not just survive but thrive as an entrepreneur.
How to Create a Successful Marketing Plan: 5 Steps
When it comes to your business, you should have a vision and a plan to support that vision. A business plan is vital to ensuring you have the proper financials and roadmap to achieve success. A key aspect of that roadmap should be a marketing plan. Whether you wear two hats as a business owner and marketing manager or have a whole marketing team, these five steps can set you up for success.
Textile Industry Seeks Six-Month Extension for Duty-Free Cotton Imports
India’s textile industry has sought a six-month extension of the duty-free import window for raw cotton beyond October 31, citing a sharp rise in yarn prices and concerns over cotton availability.
The government had waived the 11Percent import duty on raw cotton from June to October 31 to improve availability and help moderate domestic prices.
Shuddh Swad is building a regional snacks brand using traditional household recipes
West Bengal-based Shuddh Swad makes preservative-free Bihari thekua and is now developing recipes for other regional snacks. It was founded just last year with an initial capital of Rs 10,000, but the bootstrapped brand has already clocked Rs 1 crore in revenue. Every Bihari household makes thekua differently, and much of it disappears just a week after Chhath Puja. Thekua is a deep-fried sweet snack offered as a sacred prasad during Chhath Puja, a festival dedicated to Surya, the sun god, and goddess Chhathi Maiya. Recipes passed down through generations vary from one kitchen to another, changing even further as one goes beyond the region.
Desi Tales is betting on cotton and craft for comfortable kids' festive wear
A familiar scene at Indian family events is when, between rituals and celebrations, children end up in tears over uncomfortable ethnic outfits. The children’s ethnic-wear market has long been split between premium labels and the low-cost mass segment, leaving little room in between. Bengaluru-based Desi Tales is trying to fill that gap with cotton ethnic wear and nightwear for children, priced between the two. Founders Rachana and Mihir Shah experienced the problem firsthand. Their two nephews would turn cranky in their ethnic outfits at family functions, prompting the couple to build a brand around festive clothes children would actually want to wear.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI), has released the All India Consumer Price Index (CPI) with base year 2024 for the month of August, 2026 over August, 2025.
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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India's BRICS Chairship has succeeded in bringing MSMEs much closer to the centre of the economic cooperation agenda. The recognition of the BRICS SME Forum, the proposed work on invoice discounting and alternative credit assessment, cooperation on standards, technology and AI, and initiatives for stronger integration of MSMEs into global value chains are encouraging developments. For smaller enterprises, however, the real value of such international cooperation will ultimately be measured not by the number of declarations or institutions created, but by how much easier it becomes for an MSME to find a buyer, finance an export order, meet a standard, receive payment and resolve a commercial dispute across borders. FISME has therefore called for the next phase of BRICS cooperation to move decisively from dialogue to implementation. India's experience with digital enterprise identification, GST-based data, electronic receivables financing and digital payments offers useful building blocks for developing practical mechanisms for MSME trade finance and cross-border transactions. Similarly, cooperation on standards should progressively reduce repetitive testing and certification, while technology institutions should reach the factory floor through demonstrations, AI-readiness assessments, technology matchmaking and affordable, vendor-neutral solutions. The opportunity before BRICS is significant: to demonstrate that international economic cooperation can work not only for large corporations, but also for millions of smaller enterprises. The guiding principle should be simple—make cross-border business for MSMEs less costly, less risky and less complicated. FISME will continue to work with the Government of India and partner institutions across BRICS to help translate the commitments made under India's Chairship into mechanisms that MSMEs and industrial clusters can actually use.
For years, sustainability was largely associated with reporting frameworks, disclosures, and compliance mandates. But for ABB India, the local arm of the Swiss engineering giant, the conversation is increasingly shifting towards operational efficiency, circularity and long-term industrial resilience. The company has been recognised as the Most Sustainable Company in Capital Goods in the category of Sectoral Excellence in Manufacturing in this year's BT India’s Most Sustainable Companies. Guided by a three-pillar framework focused on enabling a low-carbon society, preserving resources, and driving social progress, ABB India is embedding sustainability into everything from factory operations and customer solutions to supplier engagement and community development.
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India will be able to export up to 1.64 million metric tonnes of steel annually to the European Union (EU) under the India-EU free trade agreement (FTA), significantly expanding preferential market access, but exporters will continue to face carbon-related costs under the EU’s Carbon Border Adjustment Mechanism (CBAM), according to the pact’s legal text.The agreement provides India with an additional preferential quota of 694,853 tonnes, over and above the existing 946,616-tonne WTO quota.
Prime Minister Modi on Sunday said India has launched a BRICS MSME Cooperation Portal to connect small businesses across member countries with knowledge, finance and new markets, as New Delhi pushed greater cooperation among micro, small and medium enterprises during its 2026 chairship. Addressing the 18th BRICS Summit in New Delhi, Modi said cooperation within the grouping should extend beyond governments. “Our entrepreneurs, farmers, researchers, women, youth and ordinary citizens should also become active participants in it,” the Firstpost reported.
Brent crude oil prices surged to a four-month high of USD 108.77 per barrel on Friday as tensions in West Asia escalated, raising concerns over the impact of higher energy costs on India’s economic growth, inflation and external sector. Brent was trading at around USD 107.75 per barrel at the time of reporting, after gaining more than 12 per cent over the past week amid concerns over global energy supplies and disruptions to key energy corridors.
NPCI Bharat BillPay (NBBL) has proposed a centralised digital infrastructure to connect invoices, payments, reconciliation and financing, aimed at helping micro, small and medium enterprises (MSMEs) convert sales into cash and cash flows into formal credit.The proposed system could help address the MSME sector’s estimated Rs 60 lakh crore formal credit gap while reducing delays and costs associated with payment collection and reconciliation.
The Ministry of MSME and the Directorate General of Foreign Trade (DGFT) held a webinar for exporters and stakeholders, highlighting a range of measures under the Export Promotion Mission (EPM) to ease financing, compliance, logistics and market-access challenges faced by micro, small and medium enterprises (MSMEs).The flagship mission, jointly implemented by the Department of Commerce, Ministry of MSME and Ministry of Finance, covers the exporter journey from market intelligence and product analysis to pre- and post-shipment finance, trade compliance, logistics and access to emerging markets.
The Insolvency and Bankruptcy Board of India (IBBI) has directed insolvency professionals (IPs) to remain vigilant and conduct due diligence where circumstances suggest that the insolvency process may be misused for purposes other than resolution or liquidation of a corporate debtor.In a September 9, 2026, circular issued under Section 196 of the Insolvency and Bankruptcy Code (IBC), 2016, the regulator said it had received information from law enforcement and regulatory agencies about instances of the IBC allegedly being used to mitigate tax liabilities, avoid regulatory scrutiny, investigations or penalties, and monetise or ring-fence assets.
Google on Thursday announced five new sustainability and clean-energy initiatives in India covering rooftop solar, utility-scale solar, climate-smart farming, climate technology research and AI-led climate innovation. The initiatives will use artificial intelligence (AI), geospatial data and satellite technology to support India's clean energy transition and climate goals.Google's Solar API will provide solar potential assessments for more than 300 million rooftops in India, helping installers reduce the time and cost of site surveys.
The India-UK Comprehensive Economic and Trade Agreement (CETA) is set to create new market access for Haryana’s textiles, footwear, gems and jewellery and engineering sectors, Chief Minister Nayab Singh Saini said on Monday. Addressing the ‘Haryana-UK CETA Trade Bridge: Unlocking Global Opportunities for Haryana’ programme, Saini said the state would leverage the agreement to turn its industrial strengths into export orders, investments and jobs, particularly for MSMEs, startups and young entrepreneurs.
A total of 2,876 MSME units have commenced operations across 19 MSME parks in Andhra Pradesh, with the State government planning to establish 175 parks, one in each Assembly constituency, MSME Minister Kondapalli Srinivas said. Of the planned parks, 19 have been inaugurated and 138 are under construction, Srinivas said. He also stated that industrial projects in the State had attracted investments worth Rs 24 lakh crore during the two years of the coalition government, The Indian Express reported.
The Odisha Cabinet has approved an investment proposal of Rs 15,948.70 crore under the Mukhya Mantri Shakti Bikash Yojana (MMSBY) to strengthen and expand the state’s electricity transmission infrastructure. Chief Secretary Anu Garg said the investment will support rising industrial and urban power demand and facilitate renewable energy evacuation, According to the New Indian express.
The Asian Development Bank (ADB) has signed its first transaction advisory services (TAS) agreement in India with the Madhya Pradesh government to support the development of three renewable energy projects expected to attract up to USD 1 billion in private investment. ADB Country Director for India Mio Oka signed the agreement in Bhopal in the presence of Madhya Pradesh Chief Minister Mohan Yadav, ADB said in a release.
India and Canada on Monday began the fourth round of negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA) in New Delhi, with both sides seeking to conclude the talks by the end of this year, an official said. The five-day round, scheduled from September 14 to 18, will focus on key areas including trade in goods and services, rules of origin and technical barriers to trade. The third round of negotiations was held in Ottawa in July, the official noted, PTI reported. The negotiations assume significance as India and Canada have set a target of increasing bilateral trade to USD 50 billion by 2030.
The US Commerce Department has finalised steep anti-dumping and countervailing duties on solar cells and panels imported from India, Indonesia and Laos, citing dumping and unfair government subsidies. Indian producers face a final anti-dumping duty of 123.04 per cent and a countervailing duty of 126.09 per cent under the Commerce Department’s determination. For Indonesian producers, anti-dumping duties were set at 94.36 per cent, while countervailing duties range from 73.2 per cent to 173.7 per cent. Lao producers face an anti-dumping duty of 65.43 per cent and countervailing duties ranging from 82.03 per cent to 153.67 per cent.
According to the FISME factor, 100% of MSMEs believe that government spending and infrastructure are currently contributing most to growth in
your business?
What if giving employees unlimited leave actually makes them take less of it? As organisations rethink traditional workplace policies in favour of greater flexibility, unlimited leave has emerged as an attractive proposition. It promises employees greater autonomy while signalling that organisations trust them to manage their own time. Yet the absence of a defined leave limit can create an unintended dilemma. When there is no clear benchmark, employees may become more conscious of how much leave they are taking, particularly in cultures where visibility, performance and commitment are closely linked to career growth.
Being an entrepreneur is no small feat. You’re constantly juggling tasks, taking risks, and putting your heart into building something meaningful. But amidst all the hustle, one thing that often takes a backseat is your financial health. Just like physical fitness keeps your body in shape, financial fitness ensures your business and personal finances remain strong and resilient over the long term. Let’s explore how focusing on financial fitness can help you not just survive but thrive as an entrepreneur.
When it comes to your business, you should have a vision and a plan to support that vision. A business plan is vital to ensuring you have the proper financials and roadmap to achieve success. A key aspect of that roadmap should be a marketing plan. Whether you wear two hats as a business owner and marketing manager or have a whole marketing team, these five steps can set you up for success.
India’s textile industry has sought a six-month extension of the duty-free import window for raw cotton beyond October 31, citing a sharp rise in yarn prices and concerns over cotton availability.
The government had waived the 11Percent import duty on raw cotton from June to October 31 to improve availability and help moderate domestic prices.
West Bengal-based Shuddh Swad makes preservative-free Bihari thekua and is now developing recipes for other regional snacks. It was founded just last year with an initial capital of Rs 10,000, but the bootstrapped brand has already clocked Rs 1 crore in revenue. Every Bihari household makes thekua differently, and much of it disappears just a week after Chhath Puja. Thekua is a deep-fried sweet snack offered as a sacred prasad during Chhath Puja, a festival dedicated to Surya, the sun god, and goddess Chhathi Maiya. Recipes passed down through generations vary from one kitchen to another, changing even further as one goes beyond the region.
A familiar scene at Indian family events is when, between rituals and celebrations, children end up in tears over uncomfortable ethnic outfits. The children’s ethnic-wear market has long been split between premium labels and the low-cost mass segment, leaving little room in between. Bengaluru-based Desi Tales is trying to fill that gap with cotton ethnic wear and nightwear for children, priced between the two. Founders Rachana and Mihir Shah experienced the problem firsthand. Their two nephews would turn cranky in their ethnic outfits at family functions, prompting the couple to build a brand around festive clothes children would actually want to wear.
