News

Tamil Nadu govt. to popularise quality certification for SMEs

The Times of India, 27 August 2018

The Tamil Nadu government is planning to popularise the need for quality certification among MSMEs to help them achieve better business results in the national and international markets, under an MOU between the state MSME department and the Quality Council of India (QCI). The initiative is aimed at pushing the MSMEs to obtain the ZED (zero effect and zero defect) rating bronze, silver, gold and platinum-and certification from the QCI, thereby improving the quality and quantity of their products.
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Centre earmarks Rs 1,000 crores for MSMEs in North East

Business Standard, 20 August 2018

The Centre has earmarked Rs 1000 crores for implementation of various schemes for MSMEs of the North East region in the 2018-19 fiscal. These are Central sector schemes in which a specific percentage of the budgetary allocation is allocated for SC, ST and the North East.
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MSME loans under-reported by Rs 10 lakh crores

The Times of India, 20 August 2018

Bank lending to small businesses is under-reported by around Rs 10 lakh crores as many loans to proprietorship firms are hidden under the garb of personal loans. These personal loans are usually backed by gold and property and have the lowest default ratios.
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MSME credit growth back at pre-note ban levels: RBI study

The Hindu, 17 August 2018

The flow of bank credit to MSMEs, which took a hit in the aftermath of demonetization, seems to have picked up again, according to a study by RBI officials. Data shows that during the April-June quarter, bank credit to MSMEs increased on average by 8.5% year-on-year, mirroring the level of growth during April-June 2015. Credit to micro and small enterprises grew at an even healthier rate.
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Guwahati-based enterprise among top 100 SMEs in India

Business Standard, 18 August 2018

Guwahati-based OOH (Out of Home) media firm Outreach Advertising has made it to the list of top 100 SMEs in the country for 2017. The screening was made from over 33,000 entities across the country, under an initiative by India SME Forum in association with the Union Ministry of Micro, Small & Medium Enterprises.
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MSMEs to invest Rs 700 crores in Gujarat

The Times of India, 17 August 2018

After a slew of big-ticket investments with domestic and foreign giants stepping into Gujarat, the state is now attracting significant investments from MSMEs from across the country. According to state government data, a cumulative investment of Rs 700 crores has been committed by MSMEs in less than five months, during the period from April to August this year. More than 300 plots have been allotted by the GIDC (Gujarat Industrial Development Corporation) during this period, in the industrial clusters of the state. According to state government officials, most of these companies are allied industries or vendors to existing major firms.
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Rajasthan govt. to help MSME entrepreneurs avail central schemes

The Times of India, 14 August 2018

The Central government runs several schemes to facilitate, assist and handhold MSMEs. Often, however, entrepreneurs fail to take advantage the benefits due to lack of information and knowledge about the systems and processes. Similarly, the government provides incentives under various interventions to industrial clusters but in many cases they are not availed. In a meeting under MSME commissioner Mr Naveen Mahajan, a decision was taken to create a dedicated cell with an officer in-charge to coordinate with the entrepreneurs to tap the schemes.
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NALCO to enhance procurement from MSMEs

Odisha Diary, 13 August 2018

In what will be a big boost for the MSME sector in Odisha, NALCO CMD Dr Tapan Kumar Chand said that the state-based Navratna PSU is taking concrete steps to support MSMEs and making all efforts to enhance the procurement of materials from MSMEs from the current level of Rs 400 crores to Rs 1200 crores after expansion.
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Govt. to give incentives to online aggregators for facilitating MSMEs biz

Zee News, 13 August 2018

The government is planning to give incentives to online aggregator who will facilitate MSMEs to sell their produce online. The MSME ministry is working towards a mechanism under which these aggregators will get tax rebate, discount on registration charge, free legal consultation, recovery of cost on digital infra.
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MSME protectionism : Government hikes 20% import duty on 328 textile goods

The Indian Wire, 8 August 2018

The government announced a 20% hike in import duties on about 328 textile goods on 7 August 2018. The notification said it seeks to 'increase customs duty on 328 tariff lines of textile products from the existing rate of 10 per cent to 20 per cent under Section 159 of the Customs Act, 1962'. This is proposed to create an estimated 10.5 crore jobs and also indented to boost the demand of raw materials.
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7 clusters under MSME get Odisha State panel nod

The Indian Express, 5 August 2018

The State-level Project Steering Committee (SLPSC) on 4 August 2018 approved three cluster development programmes for recommendation to the Ministry of MSME for approval. Chairing a meeting of the committee, Additional Chief Secretary, MSME, Mr L N Gupta approved a dry fish cluster at Paradip, rice mill cluster at Balasore and coir cluster at Teispur, Puri. The three proposals will be submitted to the office of Development Commissioner in the Ministry of MSME for approval.
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Industry body apprehensive of new MSME definition

The Hindu, 1 August 2018

MSMEs have voiced concern over the proposed change in MSME definition from investment criterion to annual turnover. Ms G Krithiha, Secretary of Lagu Udyog Bharati, said that the distinction between trading and manufacturing has been removed in the present definition. The organisation has also voiced the apprehension that importers and multinationals engaged in trading activities could pass themselves as MSMEs and take away their benefits.
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Happy Loans to disburse 7 lakh MSME loans by end of 2020

Business Standard, 31 July 2018

Happy, an innovation-driven working capital fulfilment platform for Indian MSMEs has unveiled its growth projection and roadmap for the next two years. The platform projects disbursing more than 7 lakh loans to micro enterprises operational across all key geographies of the country. At present, the platform has disbursed more than 18,000 MSME-based merchant loans. The platform also has over 15 partners on board, giving it an access to over five million merchants across the country.
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MSMEs to be decided based on turnover; Bill introduced in Lok Sabha

The Economic Times, 23 July 2018

A bill specifying the turnover of a business entity which would classify it as a micro, small or medium enterprise was introduced by the government in the Lok Sabha on 23 July 2018. The Micro, Small and Medium Enterprises Development (Amendment) Bill provides for change in the criterion of classification of MSMEs from the existing based on 'investment in plant and machinery or equipment' to 'annual turnover' of the enterprise. As per the amendments, any business with a turnover of up to Rs 5 crore would be considered as a 'micro enterprise'. A 'small enterprise' would be the one whose annual turnover is more than Rs 5 crore to Rs 75 crore.
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MSME Ministry to dispatch teams to 117 districts to spread word on schemes

The Financial Express, 24 July 2018

The MSME Ministry will send teams of officials to 117 most-backward and Naxal-affected Aspirational Districts identified by NITI Aayog to spread awareness about its existing schemes and obtain proposals to set up and strengthen micro and small enterprises.
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48 lakh MSMEs registered on Udyog Aadhaar portal

The Hindu Business Line, 18 July 2018

In a big push for the Centre's Make in India mission, the Union Ministry of MSME has registered over 48 lakh MSMEs during past three years since September 2015. Of these, about 10 per cent or 486,080 MSMEs were registered from Gujarat and 97,998 MSMEs were from Jharkhand.
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PHDCCI-Rajasthan to help MSMEs

Business Standard, 11 July 2018

To stimulate the growth of MSMEs, industry body PHD Chamber of Commerce & Industry has tied up with SMERA (SME Rating Agency of India) to help entrepreneurs to get financial assistance. The PHDCCI has developed a web portal bringing in all government schemes under one umbrella. The industry body has suggested the Government formulate a 'Trade with India' policy apart from the existing 'Make in India' policy.
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India Korea Technology Exchange Centre inaugurated by Giriraj Singh

Business Standard, 11 July 2018

The India Korea Technology Exchange Centre was inaugurated at NSIC (National Small Industries Corporation) on July 10 by Mr Giriraj Singh, Minister of State (Independent Charge), Ministry of MSME and Mr Hong Jong Haak, Minister of SMEs and Start-ups of Republic of Korea, creating a new era of association with India and Korea in the field of growth of MSMEs both the countries. The purpose of the Centre is to create a platform for MSMEs of India and Korea where they can be assisted to identify and exchange latest technologies, share management expertise, product development, and technology applications for productive development.
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MSME registration not mandatory to avail delayed payment protection: Delhi High Court

Knowledge & News Network, 10 July 2018

A bench of Delhi High Court has held that registration of MSMEs under MSMED Act is not mandatory to avail benefits under the Act. There has been ambiguity since long regarding the applicability of the MSMED Act, 2006 in cases where the entities were not registered under the MSMED Act at the time of execution of the contract.
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MSME credit growth driven by services: RBI

The Financial Express, 3 July 2018

While credit to MSMEs has been seeing double-digit growth, much of it may have benefited MSME players in the services sector rather than those in manufacturing. Bank credit outstanding to MSMEs grew a mere 0.2% year-on-year (y-o-y) to Rs 3.61 lakh crores, as on May 25, shows data released by the Reserve Bank of India (RBI). This suggests there has been little improvement in manufacturing MSMEs' access to credit from a year ago.
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MSME Ministry to set up export promotion cell

The Times of India, 1 July 2018

The MSME Ministry is looking to set up an export promotion cell in 2018 to coordinate with other departments and export promotion councils for increasing shipments of products like khadi, leather and coir, and identify clusters that can export directly or through aggregators. The move will further streamline strategies aimed at boosting exports from MSMEs, considered a powerful engine of the country's economic growth, contributing around 45 per cent of the overall shipments from India.
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President inaugurates 'Udyam Sangam 2018' to mark UN MSME Day

The Economic Times, 27 June 2018

The President of India, Mr Ram Nath Kovind, inaugurated the Udyam Sangam-2018 in New Delhi on International MSME Day 2018. Referring to UdyamSakhi portal of the MSME Ministry, the President said that it will empower women and weaker sections by providing training to 80 lakh women. Asserting that the MSME sector in India is leveraging the demographic dividend of the country, he said that the sector is promoting an inclusive growth in rural and backward areas.
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MSME-focused platform Instamojo makes NEFT transfers free for its sellers

The Economic Times, 27 June 2018

MSME-focused digital payments platform Instamojo has made online transactions through NEFT (National Electronics Funds Transfer) free of cost for its five lakhs seller base, said the company in a press release. With this launch, sellers will not have to pay any fee or charge for doing online transactions through NEFT through Instamojo platform. The company aims to take its customer base to 25 lakh by 2020.
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World trade information provider Connect2India launches global trade helpline for SMEs

The Financial Express, 26 June 2018

World trade information provider Connect2India today said it has launched a platform for SMEs to provide relevant knowledge related to global commerce and barriers. SMEs can reach out to experts on global trade through an interactive voice response number as well as using email id - This email address is being protected from spambots. You need JavaScript enabled to view it..
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MSMEs maintain positive credit growth: Report

The Economic Times, 22 June 2018

The MSME segment in India is growing at a positive rate of 15% year-on-year, according to the second edition of 'MSME Pulse' report released by credit bureau CIBIL and MSME lender SIDBI. Private banks and NBFCs continue to improve market share, especially with better- rated SME borrowers.
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HSBC to lend more to SMEs despite risk

The Economic Times, 14 June 2018

British lender HSBC will increase its exposure to SMEs in India, encouraged by growing demand, high yields and due to the limited pool of mid-cap companies. The bank has so far shied away from lending to high-risk SMEs as it recovers from higher capital requirements post the 2008 financial crisis.
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Uttarakhand Cabinet gives approval to MSME policy

Knowledge & News Network, 14 June 2018

The Uttarakhand cabinet has given its approval to a dedicated MSME policy with a view to push industrialization in the hilly areas of the state. The policy gives industry status to several activities like rafting, camping, surfing, panchakarma, joyriding etc. This means that the owners and investors will be entitled to benefits under the MSME policy.
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Relief for MSME borrowers, get temporary loan-repayment breather

The Economic Times, 6 June 2018

The Reserve Bank of India (RBI) has given a temporary loan-repayment breather to all MSMEs that have been affected due to implementation of the GST regime. The RBI noted that that formalization of business through registration under GST had adversely impacted the cash flows of the smaller entities during the transition phase with consequent difficulties in meeting their repayment obligations to banks and NBFCs.
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Rajasthan Industries department, Quality Council of India sign MoU

Daily News & Analysis, 14 June 2018

The Rajasthan state industries department and Quality Council of India (QCI) signed a memorandum of understanding on Wednesday for adding sustainability to MSMEs in Rajasthan. QCI will extend support to the MSMEs in Rajasthan for their ranking in accordance to 'zero effect, zero defect' policy. The MSMEs shall be registered at the ZED portal and accordingly will be extended Bronze, Silver, Gold, Diamond and Platinum ranking on basis of self-assessment. The QCI shall provide technical support for providing training to officials of the industries department and of the MSME industries regarding provisions of the assessment.
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Marg ERP, ICICI Bank to offer payments platform for MSMEs

The Times of India, 14 June 2018

Hyderabad-based inventory and accounting software solution company Marg ERP has partnered with ICICI Bank to offer an integrated payments platform to MSME customers using MARG's accounting software. This partnership will enable ICICI Bank's current account holders to connect their bank accounts with the MARG ERP software and undertake an array of digital transactions. It will enable businesses to initiate vendor and salary payments via RTGS, NEFT or IMPS directly from this platform, automate reconciliation of banking and accounting entries, apply for working capital loans as well as schedule future dated payments.
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Ministry of MSME and AYUSH collaborates for development of enterprises

Knowledge & News Network, 6 June 2018

For developing enterprises in the traditional medicine sector 'AYUSH', the Ministry of MSME and Ministry of Ayush signed an MoU in New Delhi. This collaboration will create synergies through the institutions and schemes of both ministries for the development of AYUSH enterprises in the country. The objective is to position India as a world leader in Holistic Healthcare. Under this partnership, both the ministries will organize regional workshops for entrepreneurship development in AYUSH sector.
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Telangana Government decides to establish MSME industrial parks in all districts

Knowledge & News Network, 4 June 2018

In a bid to give major push to the MSME sector, Telangana government has decided to set up MSME industrial parks in all the districts of the state. These parks will be set up taking into consideration the locally available natural and human resources in the district. Nearly 11 lakh MSME units are functioning in Telangana State creating about one lakh jobs every year and producing more than 8000 products for domestic and international markets.
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PMEGP a flagship programme under Ministry of MSME

Oneindia, 2 June 2018

The Prime Minister's Employment Generation Programme (PMEGP), offers credit-linked subsidy to establish new enterprises for generating continuous and sustainable employment opportunities in rural and urban areas of the country. The Ministry of MSME says Rs 860.51 crores has been released by the Ministry as margin money under PMEGP out of which Rs. 528.32 crores has already been disbursed by the banks.
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SIDBI to expand MSME working capital portfolio, partners Yes Bank

Business Standard, 30 May 2018

SIDBI is looking to expand its working capital portfolio, and has partnered with Yes Bank to cater to working capital needs of its MSME clients. Under the pact, Yes Bank would provide various banking services, including working capital, to SIDBI customers at its pan-India branches, which currently number around 1100.
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Actis sets up SME-focused lending platform in India; commits $220 mn

VCCircle Network, 30 May 2018

Emerging markets private equity firm Actis Advisors Pvt. Ltd said it will invest up to $220 million (Rs 1484 crores) over five years in a non-banking financial company founded in 2017 by Mr K V Srinivasan, the former CEO of Reliance Commercial Finance. The lender, Actis said, would focus on loans against collateral to SMES operating in a dozen sub-sectors.
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India-Zimbabwe inks pact to make SMEs techno-savvy

KNN, 12 May 2018

Aiming to make local SMEs technology-savvy, Zimbabwe and India have signed an MoU extending the Indo-Zimbabwe project launched in 2006 and designed to enhance the capacity and capability of the SME sector. Indian Ambassador to Zimbabwe Mr Rungsung Masakui said the joint project has played a critical role in developing the country.
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E-commerce exports via all foreign post offices soon: Finance Ministry

The Economic Times, 12 May 2018

The customs department is planning simplified procedures for exports by India Post, including permitting e-commerce shipments through all foreign post offices, the finance ministry said. Since 2016, e-commerce exports had been allowed through FPOs (Foreign Post Offices) under MEIS (Merchandise Export from India Scheme) incentives from the post offices at Chennai, Mumbai & Delhi.
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Centre to double credit guarantee to MSMEs

The Economic Times, 11 May 2018

In a bid to tackle the trade finance woes of MSMEs, the Union Government announced that it would double the credit guarantee up to Rs 50,000 crores for 2018-19 under the CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) scheme set up by the Ministry of MSME. To ensure credit availability to MSMEs for inclusive growth, the Ministry is also holding discussions with all banks and NBFCs and is planning that 70,000 units giving employment generation to almost 5 lakh people be taken up this year itself.
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Lenovo launches V-Series laptop for SMEs, start-ups in India

The Economic Times, 10 May 2018

Chinese technology major Lenovo on 10 May 2018 launched a new V-series laptop "V330" for SMEs and start-ups with prices starting from Rs 48,000. The V330 laptop comes with entrepreneur-friendly flexibility features like an ultrabay drive that can house either an optical drive or an additional battery, a QuickCharge battery, an elegant spill-resistant backlit keyboard, USB-C type and USB 3.0 ports.
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Amazon India launches Weavesmart on its marketplace

The Economic Times, 3 May 2018

Amazon India launched Weavesmart, the e-commerce store for handlooms in India and an e-marketing partner for the Ministry of Textiles for promoting India Handloom Brand and Handloom Mark products, on its marketplace. Through this alliance, handloom & handcrafted products by weavers from various parts of the country associated with Weavesmart will now be available to millions of Amazon customers across India. Amazon India intends to help these associated weavers reach millions of customers across India and in turn help in empowering them and helping the weavers to display their creativity on a large scale. Currently, Weavesmart has more than 3000 weavers in its network and more than 20,000 products.
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Haryana to reduce power tariff for MSMEs

The Times of India, 23 April 2018

Haryana Chief Minister Mr Manohar Lal Khattar said power tariff will be reduced for small and medium enterprises having connection below 20 kilowatts. The tariff will be reduced from the present Rs 6.75 per unit to Rs 4.75 per unit from 1 May 2018.
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MSME Ministry - GSTN to share data of registered MSMEs

Knowledge & News Network, 11 April 2018

The MoMSME (Ministry of Micro, Small and Medium Enterprises) and the GSTN (Goods & Services Tax Network) will soon sign a pact to share database of the MSMEs registered with the Udyog Aadhaar portal and on GSTN database. Around 44 lakh MSMEs are registered with the Udyog Aadhaar portal, while the number of MSMEs on GSTN database is around 1 crore.
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West Bengal govt to set up integrated promotion hub for SMEs

The Economic Times, 9 April 2018

West Bengal government will be setting up an integrated production and promotion hub for small and micro enterprises, called Biswa Khudra Bazar near Santiniketan in Birbhum district on a 50-acre plot. The hub is being developed by West Bengal Small Industries Development Corporation (WBSIDC). It will take around two years to complete the project. According to the scheme of things there will be three separate units in the state-of-the-art Biswa Khudra Bazar - one for production of goods, another for the promotion and sale of the same products and the third one dedicated to developing newer markets for those products. The Entrepreneurs' Hub, where the production will take place, will come up on 5 acres, while the Business Hub, where the goods will be promoted and sold will be spread across 25 acres.
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FIEO, PayPal join hands to simplify international trade for Indian exporters and SMEs

The Economic Times, 5 April 2018

The FIEO (Federation of Indian Exports Organisation) and online payment system PayPal signed an MoU on 5 April 2018 to promote exports and leverage each other's technology and experience. The agenda of the partnership shall be to focus on: (a) 'Make in India' and 'Digital India' ; (b) enabling international transactions; (c) empowering SMEs, entrepreneurs, artisans, start-ups; and (d) conducting training and seminars for businesses to attune themselves to technology. Under this collaboration, PayPal will join FIEO to train SMEs on how to utilise professional opportunities and use technology for safe and smooth business.
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GST Composition Scheme for SMEs in India

India Briefing, 3 April 2018

The composition scheme is a system under the GST (Goods and Services Tax) Act that allows suppliers of goods, other than exempt goods, and restaurant-related service providers to file their GST returns at a fixed rate. This scheme is of particular interest to SMEs, although it can be accessed by any taxpayer whose turnover on the 'taxable supplies of goods' does not exceed Rs 15 million (US$230,100). For Indian states in the northeast and the north Indian state of Himachal Pradesh, the threshold limit is Rs 7.5 million (US$115,050).
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SIDBI, New India Assurance partner to cater to MSMEs

The Times of India, 2 April 2018

SIDBI has tied up with New India Assurance Co Ltd as a bancassurance partner to cater to the insurance needs of small businesses. A memorandum of understanding was signed with The New India Assurance Co and two MSMEs were issued insurance policies, SIDBI said. SIDBI is evolving as one stop solution provider, and launched a revamped website aimed at transforming the MSE ecosystem in the country on the occasion of its foundation day. SIDBI also launched an MSME contact programme to understand their opportunities, challenges and eco system so as to grasp what can be done to ease the way they do business.
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SME IPOs continue to catch investors' fancy; raise Rs 2,155 crore in FY18

The Economic Times, 1 April 2018

SMEs raised around Rs 2,155 crore through IPOs in 2017-18, more than two-fold jump from the previous fiscal. Funds raised through IPOs were meant for business expansion plans, working capital requirements and other general corporate purposes, according to offer documents. A total of 148 companies got listed with IPOs worth Rs 2,155 crore in the last fiscal. Geographically, Gujarat topped the list as a maximum 50 firms from the state listed on SME bourses, followed by Maharashtra (43), Madhya Pradesh (13), Delhi (10), and Telangana and West Bengal (5 each).
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Universal Robots focuses on SMEs in India

The Hindu, 26 March 2018

Universal Robots, the world's largest manufacturer and supplier of collaborative robot ('cobot') arms, is focusing on SMEs to grow its business in India, the company's top executives said. Over two years, the robotics firm has supplied 400 cobots to companies in India, of which 10% have been sold to SMEs.
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Lendingkart Finance ties up with Sistema Business Scalerator to serve SMEs in South India

Business World, 29 March 2018

Lendingkart Finance announced that it has tied up with Sistema Business Scalerator to serve SMEs in South India. The Sistema team has built on-ground presence in select states where they will source business for Lendingkart Finance through their contact points and facilitate the loan disbursal process. Lendingkart Technologies is an online platform that makes working capital finance available to SMEs. As per the terms of engagement, Sistema Business Scalerator will deploy its team in the states of Tamil Nadu, Kerala, Karnataka, Telengana, Andhra Pradesh and Puducherry to help Lendingkart Finance source business and scale its operations in those states.
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MSME-DI Nagpur holds state-level vendor development program

Knowledge & News Network, 24 March 2018

MSME-Development Institute, Nagpur, in conjunction with IOC Ltd at Nagpur, organized a state-level vendor development program (SVDP). The objective of the SVDP is to create opportunities for MSMEs to develop as potential vendors for the CPSUs (Central Public Sector Undertakings) under the Public Procurement Policy.
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RBI relaxes loan repayment deadline for MSMEs, opens up lending limits

India Briefing, 20 March 2018

India's MSMEs will benefit from an extension for standing loan repayments to banks and NBFCs (Non-Banking Finance Companies). The announcement, made by the Reserve Bank of India, the country's central bank, provides immediate relief to MSMEs hurt by blocked cash flows due to the implementation of the GST (Goods and Services Tax). So far, the shift to the GST regime has been far from smooth for MSMEs; it has restricted the liquidity of these companies, resulting in their inability meet their repayment obligations to banks and NBFCs.
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ICICI Bank launches instant overdraft facility for MSME customers

The Times of India, 13 March 2018

ICICI Bank has launched an instant overdraft facility for up to Rs 15 lakh for MSME customers. The digital offering is being made available to current account customers of the bank for credit without the need to visit a branch or submit physical documents. The facility is available both on internet banking and ICICI's mobile app. ICICI Bank also plans to offer instant overdraft facility to MSME customers of other banks. The overdraft is renewable on an annual basis, depending on the customer's repayment track records.
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Women run a quarter of Karnataka's 20 lakh MSMEs

The Times of India, 11 March 2018

Women play a significant role in the growth story of Karnataka, one of India's leading industrialized states. Data shows that nearly 250 of every 1,000 MSMEs in Karnataka are owned and run by women, much higher than the national average of 190. This means that of the 20.5 lakh MSMEs in Karnataka, according to industry figures, 5.1 lakh are owned by women. Interestingly, of the 50-odd lakh employees in the MSME sector in the state, 40% or 20 lakh are women, data with the ministry of MSMEs shows.
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IIT-Delhi, IISc, KIAMS to help SMEs face 'disruptive' techs like AI

United News of India, 10 March 2018

To enable the Indian manufacturing to face 'disruptive' technology like Artificial Intelligence (AI), the Union Government would set up four SAMARTH innovation centres in the country's top institutions, including IIT, Delhi; IISc (Indian Institute of Science), Bengaluru; and KIAMS (Kirloskar Institute of Advanced Management Studies), Pune. The Department of Heavy Industry has approved a grant of Rs 78 crore to support these centres. While the centre at IIT, Delhi has already been inaugurated, the centres at IISc, Bengaluru and KIAMS Pune are likely to start by September 2018. All these centres will become self-sustaining within three years. They have been mandated to cover nearby clusters and colleges.
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EEPC signs MoU with the Czech Republic SME association

The Times of India, 9 March 2018

Engineering Export Promotion Council India has signed an MoU with the Association of Small and Medium-sized Enterprises and Crafts of the Czech Republic to promote bilateral trade and investment. The MoU was signed at the IESS (International Engineering Sourcing Show) on 8th March. As the partner country, the Czech Republic, with a strong manufacturing base, has a predominant presence of at least 50 companies at the IESS. Under the MoU, the two sides would exchange market information pertaining to the engineering sector and assist each other in organization of the exhibitions, trade fairs and buyer-seller meets. They will also encourage institutional partnerships in research and development, consultancy, besides technology transfer.
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Auto industry welcomes change in MSME definition

The Economic Times, 12 February 2018

With the Cabinet amending the definition of the MSMED (Micro, Small and Medium Enterprises Development) Act, 2006, several stakeholders in the industry are set to benefit from this change. While the auto component industry has welcomed this move, dealers are largely untouched by its benefits. According to the latest amendment to the MSME Act, MSMEs will be categorized on the basis of their annual turnover instead of investments in plant, machinery and equipment. Micro enterprises with an annual turnover up to Rs 5 crores, small enterprises with an annual turnover of more than Rs 5 crores but not over Rs 75 crores as well as medium enterprises with an annual turnover over Rs 75 crores but not exceeding Rs 250 crores will now come under its ambit. The earlier criteria were based on investments made in plant and machinery that was capped at Rs 10 crores. Consequently many companies that were out of the MSME bracket and missed the subsidies and incentives received under the MSME definition, have come under its umbrella.
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Government measures to ensure MSMEs become growth engine: DFS secretary

The Economic Times, 11 February 2018

A slew of recent measures, including tax concessions in the budget, for MSMEs has been taken with an aim to transform such enterprises into a growth engine for 'new India', Financial Services Secretary Mr Rajiv Kumar said. These initiatives will bring down the tax burden on enterprises with an annual turnover of up to Rs 250 crores and also lower the interest burden, leaving more surplus for investment and growth of the MSME sector. The RBI on its part too announced various measures for MSMEs hit by the implementation of GST by giving them additional up to 180 days to clear their dues to banks.
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86% rise in MSME registration in Gujarat

DNA, 11 February 2018

Number of small businesses grew to 86 per cent in Gujarat in about 18 months, said a senior government official. He attributed the rise to the conversion of unregistered units to registered ones. The move will enable the government to find solutions to the growth bottlenecks for the sector as well as increase compliance by the units resulting in higher tax revenues for the government. The rise in the registration is a result of a campaign initiated by the central government to convert the unorganised sector into the organised sector, said sources. Soon, one can expect separate packages for micro, small and medium enterprises as per their sizes rather than being clubbed together.
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Govt redefines MSMEs based on annual revenue

Mint, 8 February 2018

The Union cabinet on 7 February 2018 approved a proposal to redefine MSMEs, based on their annual revenue, replacing the current definition that relies on self-declared investment on plant and machinery. The move is expected to improve ease of doing business, avoid unnecessary inspections and at the same time enable the authorities to verify claims of businesses using the sales data they have from the GST Network, the company that processes GST (goods and services tax) returns. The move is in addition to steps being taken to stimulate the MSME sector’s growth, including a cut in corporate tax from 30% to 25%, announced in the Union budget, and the Reserve Bank of India’s decision to give a longer period to small businesses before classifying their loans as non-performing assets, or bad loans.
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MSME loans up to Rs 25 crores get more repayment time

The Economic Times, 8 February 2018

In a major relief to the medium and small enterprises sector, the RBI on 7 February 2018 said GST-registered MSME borrowers will get a further 180-day window to pay dues if their accounts were standard as on August 31, 2017. This move, allowed to banks and NBFCs, will be applicable for dues between September 2017 and January 2018 if the aggregate exposure does not exceed Rs 25 crores. Banks and NBFCs will not be required to downgrade asset classification of these MSMEs.
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Budget 2018 extends sops to MSMEs in push to formalize Indian economy

Mint, 2 February 2018

The Union Budget 2018 on 1 February 2018 extended sops to MSMEs as part of the government’s efforts to bring businesses under the formal economy’s fold. Finance minister Mr Arun Jaitley proposed to cut the corporate tax rate to 25% for companies with annual revenue of up to Rs 250 crore. The budget also earmarked Rs 3 trillion for 2018–19 under the Pradhan Mantri Mudra Yojana or Mudra scheme. In addition, Mr Jaitley allocated Rs 3,794 crores for credit support, capital and interest subsidy to MSMEs.
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Budget 2018: MSMEs get Rs 3794 crores allocation for credit support

The Economic Times, 1 February 2018

Commenting that MSMEs are "major engine of growth and employment generation" while presenting Budget 2018, Finance Minister Mr Arun Jaitley announced Rs 3794 crore allocation to MSME sector for credit support, capital and interest subsidy on innovation. The Finance Minister also asserted that demonetisation and the introduction of GST is enabling the government to make policies which will benefit the micro and small medium enterprises.
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MSME sector faces major problem in availing credit: Survey

The Economic Times, 29 January 2018

India's MSME sector faces a major problem in terms of getting adequate credit for expansion of business activities, according to the Economic Survey 2018. The survey tabled in Parliament by Finance Minister Mr Arun Jaitley pointed out that MSMEs received only 17.4% of the total credit outstanding. "Growth of credit to micro and small enterprises increased by 4.6%, while credit to medium enterprises decreased by 8.3%," it said. Elaborating on the status of the major schemes implemented for the MSME sector, the survey observed that loans extended under the Pradhan Mantri Mudra Yojana during 2016-17 have crossed the target of Rs 1.8 lakh crores. "Of this amount, Rs 1.23 lakh crores was lent by banks while non-banking institutions lent about Rs 57,000 crores. In December 2017, the total number of borrowers was 10.1 crores, out of which 7.6 crores were women," said the survey.
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India Transact Services joins Mobik to enable MSMEs create mobile presence

The Economic Times, 18 January 2018

ITSL (India Transact Services Ltd.), an omni-channel merchant digital payment solutions company, has entered into a strategic alliance with Mobik, an Israel-based mobile advertisement platform. Their objective is to empower MSMEs. The MSME sector in India is very fragmented, and often lacks quintessential resources like technology and capital used by other organised large retail chains to retain their customers and market their products as well as the brand in the online space. ITSL and Mobik's aims at promoting special offers and products online, providing them with a platform and a set of marketing tools and apps. ITSL in a statement claimed that they wish to empower 10,000 merchants with this solution reaching out to 10 lakh end-consumers by 2019.
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West Bengal has highest number of MSMEs: official

The Economic Times, 16 January 2018

West Bengal has the highest number of MSMEs in the country with 52,69,814 units (11.62% of total), a development which will boost the state during the Bengal Global Business Summit. The eastern state left behind highly industrial regions like Maharashtra and Gujarat in the race, a data in the 2016–17 MSME ministry annual report showed. Uttar Pradesh ranked second after West Bengal, followed by Maharastra. In 2017, West Bengal also recorded the biggest bank credit flow to the MSME sector in the last five years at USD 15 billion, the report said.
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ETRISE launches Biz Listings, aims to help Indian SMEs grow their business

The Economic Times, 3 November 2017

As more and more consumers move online, having a web presence that can be easily discovered and generate visibility, leads and business becomes essential. In order to provide quick, reliable and comprehensive information to the users and connecting buyers (service seekers) with the sellers (service providers), ETRISE has launched 'Biz listings' for small businesses. ETRISE Biz Listings is a 'one-stop' platform enlisting Service providers / SMEs from various industries and will be accessible from across ET’s digital platforms.
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India’s new rank of 100 on Ease of Doing Business index not reflective of situation for MSMEs: IIA

KNN, 2 November 2017

In the World Bank's "Doing business" report of 2018, India has jumped to 100th place from 130th in 2017, the Finance Ministry informed recently. However this jump is not very reflective of the situation of the ecosystem that continues to haunts the MSMEs of the country, Indian Industries Association said.
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AU Small Bank, SIDBI launch Rs 200-cr fund for MSMEs

The Hindu Business Line, 28 October 2017

AU Small Finance Bank today tied up with SIDBI to launch a Rs 200-crore fund for providing loans to MSMEs. The programme will fund term loans in the Rs 25 lakh to Rs 2 crore ticket size. Under the advice of SIDBI, AU Bank will play the anchor in this programme as all the processes including disbursement, monitoring and recovery will be handled by them. The appraisal of the proposal shall be done jointly by AU Bank and SIDBI .Both the financial institutions will earmark a corpus of Rs 100 crore for lending under this agreement this financial year.
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Crisil SME Tracker: Incentivized SMEs can help bridge India's skill deficit

Business Standard, 15 September 2017

CRISIL believes subsidizing and incentivizing credible SMEs to undertake skill development training programmes can help narrow India's yawning skill deficit. As things stand, less than five per cent of the country's workforce possesses formal vocational skills. In this context, engaging SMEs in skill development can boost the effectiveness of the government's Skill India initiative and also improve the competitiveness of the SME sector, which is India's second-largest employment generator.
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KITCO to launch programme to uplift micro, small and medium enterprises

The Economic Times, 13 September 2017

Consultancy major KITCO Ltd. is launching a programme to uplift MSMEs to make them competitive, as part of its 45th year anniversary celebrations. The programme will help address the issue of shortage of funds often faced by MSME sector. In the first phase, ten enterprises operating in various sectors will be selected under the programme.
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Fund for lending to SMEs to be ready in 5-6 months

The Indian Express, 13 September 2017

Mr Y M Deosthalee, former CMD of L&T Finance Holdings Ltd, indicated that over a dozen top executives of Indian firms are planning to create a fund that will lend exclusively to SMEs in the country. He said that the fund will be ready in the next five to six months.
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Google launches new feature 'Google My Business' to help Indian SMEs manage biz online

KNN, 8 September 2017

To help India's SME communities, Google has launched a feature titled 'Google My Business' for SME/business customers, which allows owners to manage the business listings from a simple, easy-to-access dashboard within Google Search. For this, owners are required to find their businesses on Google Search, complete and enhance listing, share photos and posts and see how many views they are receiving. According to Google India, more than 80% of people are searching the Internet to find local information.
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SME board fund-raising up 7-fold in 6 years

The Hindu Business Line, 7 September 2017

Small and medium enterprises have clambered onto the IPO bandwagon with alacrity: fund-raising activity through junior bourses has gone up by about seven times in the past six years. For small entrepreneurs, raising funds through the SME IPO platform yields dual benefits of increased capital availability on the one hand, and improved corporate governance on the other. Currently, 267 SMEs are listed on the NSE and the BSE. Some 81 of these companies are from Gujarat, followed by Maharashtra (76) and Delhi (22). In terms of sectors, SMEs from the construction, finance and investment, textile products, trading and computer hardware segments are among the top ones to hit the primary markets through this platform. A total of Rs2,458 crore has been raised so far by 267 SMEs.
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IndiaOnline.in Launches Jaipur Office to Support Rajasthan's SME Sector

Business Wire India, 7 September 2017

The IndiaOnline.in Network, India's largest online network of 475+ inter-linked websites, has announced the launch of its operations in the Pink City, Jaipur, with an aim to cater to the ever-growing & robust SMEs sector of Rajasthan. IndiaOnline.in is targeting bringing over 1000 SMEs from Rajasthan under its marquee GETONLINE initiative within this year. The GETONLINE initiative of the IndiaOnline.in Network aims to equip each & every SME of the country with Website & Digital Marketing Solutions and educate them on how to grow their business using online tools & solutions. The Network will power Rajasthan with its dedicated portals namely www.RajasthanOnline.in, www.JaipurOnline.in, besides others for all major cities & towns of the state. The company also has regional Channel Partner offices in over 15 locations of the country including Agartala, Ahmedabad, Bhubaneswar, Guwahati, Gorakhpur, Hyderabad, Kochi, Kolhapur, Pimpri Chinchwad, Raipur, Sangli, Tinsukia, Vijayawada and Visakhapatnam and is headquartered at New Delhi.
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Summit set to increase SME business ties between UAE and India

The National, 5 September 2017

Giving Emiratis the confidence to "pitch camp" in India by investing in medium-sized projects such as housing and leisure tourism is the focus of initiatives being pursued by both nations ahead of a India-UAE Partnership Summit to be held from 30-31 October 2017 in Dubai. Dr Azad Moopen, Aster DM Healthcare's chairman, said the aim was to help Emirati businessmen understand the market in the sub-continent. Small and medium-sized enterprise projects ranging from 10 to US$50 million are likely to be showcased at the two-day summit, which aims to bring together ministers, government officials, industry leaders and investors from both countries.
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IFC Invests $10 million in Power2SME

The Economic Times, 5 September 2017

The IFC (International Finance Corporation) the private investment arm of the World Bank has invested $10 million as equity in Power2SME, an e-commerce platform that helps small and medium companies buy raw materials at bulk prices. In addition to the investment, IFC will also advise Power2SME to help it expand beyond its current 14 states, improve its ability to provide working capital to SMEs by adding more banks as partners, and increase the number of users on its platforms by up to 10 times in five years. Power2SME is backed by venture capital firms such as Kalaari Capital, Accel Partners, and Inventus Capital.
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Online tools helping Indian SMEs sell products globally: Facebook

The Economic Times, 6 September 2017

While 43 per cent of Indian exporters in SMEs (small and medium sized enterprises) depend on online tools for 75 per cent of their international sales, 63 per cent agree that using online tools for selling internationally has increased their revenue, a new survey by Facebook revealed on 6 September 2017.
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Gujaratis rule SME platform, Delhiites at rock bottom

The Economic Times, 29 August 2017

Gujarat-based SMEs (small and medium enterprises) are turning bullish on raising funds through SME exchanges. This could be gauged from the fact that out of total 72 SME IPOs (initial public offers) launched in 2017 so far, Gujarat has churned out 31, which is the highest from any state. Gujarat is followed by Maharashtra with 22 SME IPOs and Rs 257.10 crore of fund mobilisation. Rajasthan and Madhya Pradesh have seen four each IPOs hitting the market and Delhi three in 2017.
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DIPP to release new industrial policy by October, will review FDI Regime

Mint, 30 August 2017

The DIPP (Department of Industrial Policy and Promotion) under the commerce and industry ministry will release a new industrial policy by October 2017 that will focus on encouraging Indian branded products with higher value addition and will review the existing foreign direct investment policy regime to facilitate greater technology transfer. DIPP has adopted a consultative approach for formulating the industrial policy by setting up six thematic focus groups and an online survey on the department's website to obtain inputs.
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