Msme

Plans underway for bigger role for TReDS, to enrol million MSMEs in 2 years

It is also expected that the Union Budget for FY26 may have more measures for MSME financing, with a bigger role for TReDS

Hurt in Covid-19, MSMEs recover slowly as initiatives for them continue

Share of credit outstanding to MSMEs by scheduled commercial banks as a percentage of outstanding non-food credit is tepid

Surge in finished steel imports sparks industry woes, policy dilemmas

It remains to be seen how the government charts out a path to address the competing concerns and resolve the matter

Amazon pledges to enable $80 bn exports from India by 2030; partners DPIIT

E-commerce giant Amazon on Tuesday announced its commitment to enable USD 80 billion in cumulative exports from India by 2030 and said it has partnered with DPIIT to establish India as a global manufacturing hub. Amit Agarwal, Senior Vice President for Emerging Markets at Amazon, made the announcements during the company's annual 'Smbhav Summit'. "Motivated by the progress that we made in driving exports out of India...we are quadrupling our focus in India... we are going to advance our commitment to enable USD 80 billion in exports by 2030," Agarwal said. Amazon had earlier pledged to digitising 10 million micro, small, and medium enterprises (MSMEs), achieving USD 20 billion in cumulative exports from India, and creating 2 million jobs in the country by 2025. "We are humbled to share that we have hit our pledge to digitise 10 million small businesses one year ahead of time and have enabled over 12 million small businesses to become a part of the digital economy. We have enabled .

Rajasthan govt's new policy set to give a fillip to MSMEs in state

The state government claims that it received investment commitments worth over Rs 25 trillion so far

Low salaries can be self-destructive for India Inc, says CEA Nageswaran

Deregulation to be big theme of Eco Survey

Over 70% MSMEs use biz loans for immediate financial needs: Study

There is higher demand for working capital expenses, emphasising the liquidity challenges and short-term cash flow gaps faced by businesses in managing their day-to-day operations

Centre cautious on FTAs to safeguard farmers and MSMEs: EAM Jaishankar

Speaking at an event, External Affairs Minister S Jaishankar spoke about India's resilience and post-Covid recovery along with its careful stance on free trade agreements

BS Samriddhi 2024: 'UP has largest investment portal in the country'

Nivesh Mitra offers 491 online services and is adding more, say senior bureaucrat

MSMEs can boost finances with formal registration, digital payments: RBI DG

The deputy governor highlighted that despite their importance, MSMEs often struggle to secure timely and adequate credit

Govt to decide soon on Rs 100 crore credit guarantee scheme for MSMEs: FM

Union Finance Minister Nirmala Sitharaman on Saturday said that the Rs 100 crore credit guarantee scheme for MSMEs which was announced in the budget this year will soon be placed before the Union Cabinet for approval. Highlighting the five announcements made in this budget for MSMEs she said, "the introduction of a special credit guarantee corpus to help MSMEs will be very helpful during the time of distress...." "The Rs 100 crore credit guarantee scheme will soon be placed before the cabinet. Immediately after getting approval from cabinet, the scheme that will provide guarantee through MSME ministry and banks will be implemented," the Union Finance Minister said, while attending the National MSME Cluster Outreach Programme here. "The grievance, which has been there for a very long time, is that the MSMEs can get working capital from banks but they don't get term loans, loans for plant and machinery. Now the guarantee will be provided under the scheme," she explained. Further stat

Demonetisation led to monopolies, devastated MSMEs, informal sector: Rahul

Leader of Opposition in Lok Sabha Rahul Gandhi on Friday alleged that demonetisation has led to monopolies by devastating the MSMEs and informal sector and India continues to use more cash today than eight years ago. His attack came on the eighth anniversary of demonetisation. On November 8, 2016, Prime Minister Narendra Modi announced demonetisation in an address to the nation declaring that Rs 500 and Rs 1,000 notes would cease to be legal tender. One of the reasons cited by the government at that time was to promote the digital economy and reduce cash transactions to check corruption and black money. "India continues to use more cash today than 8 years ago when demonetisation was implemented. "DeMo paved the way for monopolies by devastating MSMEs and the informal sector," Gandhi said in a post on X. Incompetent and ill-intended policies that create an environment of fear for businesses will stifle India's economic potential, the former Congress chief said. "What is needed is

SBI plans to enhance limit under instant loan scheme for MSME sector

To ensure easy and adequate credit availability to the MSME sector, the State Bank of India (SBI) is planning to enhance the threshold under the instant loan scheme from the existing Rs 5 crore. 'MSME Sahaj - End to End Digital Invoice Financing', provides solutions ranging from applying for the loan, documentation and disbursement of the sanctioned loan within 15 minutes, without any manual intervention. "We have, last year, introduced a business rule engine based, data based assessment of the credit limits up to Rs 5 core. Anybody walking into our MSME branch has to give only their PAN and approval for sourcing GST data, we can give approval in 15-45 minutes," SBI Chairman C S Setty told PTI in an interview. Simplification of the MSME credit is something that the bank is emphasising on and making lending cash flow based backed by the CGTMSE guarantee, he said. This reduces the need for collateral, which would enable a lot of people to come into the formal MSME borrowing system, h

Prospects brightening for MSMEs in ITeS, shows CRISIL SME Tracker

Growth will be supported by resumption of deferred projects and new orders from key segments such as banking, financial services and insurance and manufacturing

Telangana launches new MSME policy, plans to spend Rs 4,000 crore

Telangana government plans to spend Rs 4,000 crore over the next five years towards various initiatives to develop Micro Small, Medium and Enterprises in the state, said Chief Minister A Revanth Reddy, who unveiled the "Telangana MSME Policy 2024" on Wednesday. According to the new policy, to accelerate the growth of MSMEs, the state government has identified six trust areas for improvement improving availability, accessibility and affordability of land, facilitating access to finance, ensuring easy access to raw materials, improving flexibility in labour markets, encouraging adoption of technology and enhancing access to markets. The policy said the government is aiming to see that over 25,000 new MSMEs are established in the state in the next five years. The policy facilitates SHG's (self help groups) to transition to MSMEs by providing end to end support structures besides strengthening the state as a leading exporter in the country with an emphasis on import substitution. The

Modi 3.0 100 days: Commerce ministry takes steps to support MSME exporters

The commerce ministry has taken a host of steps during the 100 days of the Modi 3.0 government for MSME exporters who are facing global challenges due to geo-political tensions. The measures included launching of 'Trade Connect e-Platform' to empower SMEs by giving them access to information and guidance on trade, the commerce ministry said on Tuesday. This platform will connect these enterprises to over six lakh IEC (import-export code) holders, 185 Indian Mission officials and over 600 Export Promotion Council members with the Department of Commerce. Briefing the media, Commerce Secretary Sunil Barthwal said that in the first 100 days, the ministry held meetings with exporters to understand their problems and find ways to resolve those issues. "This e-connect portal will provide all sorts of information to an exporter," he said adding for MSME and other exporters, this portal will become a single point by which they can explore new geographies for shipments. The secretary said t

Govt aims to extend additional Rs 5 trn via credit guarantees in 2 years

The government aims to ramp up credit guarantees extended to micro and small enterprises through the CGTMSE scheme by another Rs 5 lakh crore in the next two years, a top official said on Tuesday. According to Rajneesh, Additional Secretary and Development Commissioner (Micro Small and Medium Enterprises), credit guarantees worth of Rs 4 lakh crore were extended in the last two years via the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). "In a span of 22 years the cumulative credit guarantees extended by CGTMSE amount was 2.6 lakh crore. But in last two years, we have been able to give credit guarantees worth of Rs 4 lakh crore and in the next two years we intend to ramp it up to another Rs 5 lakh crore," Rajneesh said at a FICCI event here. He further shared that the government has bridged a large gap in formalisation of MSMEs in the last few years, with the total number of Udyam registered MSMEs rising to 5 crore from 1.65 crore units over a year ago. "The

Need to bring 80% MSMEs under formal financial system: M Nagaraju

Banks have an undisputable responsibility in advancing the agenda of inclusive growth, which is fundamental to the economic and social development of the country

New MSME credit assessment model for PSBs may see March 2025 launch

Credit model goes beyond credit scores, evaluates supply chains, digital footprints

Soon, loan processing for MSMEs, others will be faster, simpler: Here's how

Much like the UPI revolutionised payments, ULI aims to do the same for lending, making it quicker and simpler