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In May 2020, finance minister Nirmala Sitharman raised the thresholds for the tags of micro, small and medium enterprises (MSMEs), acknowledging that the earlier definitions were creating an unintended incentive for units to remain ‘small’. She cited pan-India data of MSMEs scaling up, but for hundreds of units in South Delhi’s Okhla Industrial Area (OIA), …
India’s foundry and forging industries, mostly comprising MSMEs, are facing a crisis as input costs have surged. The production squeeze by these units could result in a tough time for the engineering and automotive sectors in the coming quarters. While forging companies, especially those in the small and medium segment, are likely to see a …
The Cabinet has approved a $808-million (Rs 6,062-crore) support to revitalise Covid-hit micro, small and medium enterprises (MSMEs) through a programme backed by the World Bank. Of the total assistance, Rs 3,750 crore ($500 million) will be in the form of a loan from the World Bank and Rs 2,312 crore will be provided by …
Ease of Doing Business for MSMEs: Small businesses led by women and youth and ‘ecopreneurs’ can play the crucial role of change agents in fostering sustainable economic development and building resilience among disadvantaged communities. By Dr Rajan Samuel Ease of Doing Business for MSMEs: A traditional business model focuses on employing people to expand their …
The fintech’s cluster-based credit appraisal approach and phygital model bridges the gap between MSMEs and organised lending norms Aye Finance is a new-age finance company that provides secured and unsecured small business loans to small and micro enterprises across India. It aims to solve the challenges in funding micro, small and medium enterprises and bring …
Trade, import and export for MSMEs: Successful entrepreneurs must meet the prerequisites of being successful professionals, that is, the knowledge, the skills, and the ethical code of conduct for doing business abroad. By Dr Rajendra Prasad Sharma Trade, import and export for MSMEs: Of late, it is fashionable for small firms to eye global market …
Ease of Doing Business for MSMEs: The ScaleUp Summit tried finding answers to questions around scaling up of MSMEs from experts in the government, banking, technology, MSME representative bodies, and successful MSMEs themselves. Ease of Doing Business for MSMEs: Why is nearly 100 per cent of the MSME sector comprised of only micro enterprises? What …
A loss of around Rs 10,000 crore was recorded by small manufacturers and sellers of firecrackers, as per CAIT. (Image: Pexels.com) Ease of Doing Business for MSMEs: The record-breaking Rs 1.25 lakh crore Diwali sale for traders and retailers is a strong and credible answer to think tanks, economists, retail experts, and some sections in …
So far, India is among the few major economies in the world whose actions in energy transition are consistent with keeping the temperature rise below two degrees. (Image: Pexels.com) By Deepak Sood Sustainability for MSMEs: Since 2019, unprecedented climate action has spurred nations and businesses to prioritize climate change. Sustainability is high on the global corporate …
The app will be used as a mechanism for consumers to easily verify FSSAI license or registration on any food packet. (Image for representation) (Source: Pexels.com) Technology for MSMEs: In order to ease the registration process for a large number of unorganised micro and small food businesses in the country including hawkers, street vendors, food …
