Business Standard

Msme Sector

DGTR probes surge in steel imports, to consult MSMEs on safeguard duty

The commerce ministry's investigation arm DGTR has started a probe into an alleged jump in steel imports and it will also consult MSME downstream industries before making its recommendations, a top government official said on Monday. Commerce Secretary Sunil Barthwal said that the ministry has received a request from the steel ministry for conducting the safeguard investigations. "The DGTR is doing it and in the investigation, they look at the whole value chain. So we are looking at not only the HR (hot-rolled) and CR (cold-rolled) coil (steel products) which is coming to India, they are also looking at the requirement of downstream industry whether there is a production imbalance or whether it is an injury because of excess capacity in steel," he told reporters here. He said that all these stakeholders are being consulted including MSMEs as well as the downstream industries, "then only the DGTR will make a recommendation" in this regard. A final call on imposing the duty can be ta

DGTR probes surge in steel imports, to consult MSMEs on safeguard duty
Updated On : 16 Dec 2024 | 6:47 PM IST

Open to the idea of alternate financing models for MSMEs: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Thursday urged the industry to share specific issues they are facing in accessing bank credit and suggested that the government is open to exploring alternate financing models for MSMEs. He also said the ministry can earmark particular areas in the proposed industrial townships for the MSMEs (Micro, Small, and Medium Enterprises). Exporters have raised concerns over declining bank credit, particularly to the MSME segment. While exports grew by 15 per cent in the rupee terms between 2021-22 and 2023-24, the outstanding credit in March 2024 dropped by 5 per cent over the same month in 2022, according to exporters. "Give me specific details (as in) what kinds of problems they (MSMEs) face. Is too much collateral being asked? Suppose an ECGC (Export Credit Guarantee Corporation) cover is available, do they (banks) still ask for collateral, what kind of interest they charge when a 90 per cent guarantee is taken by ECGC in the event of any ..

Open to the idea of alternate financing models for MSMEs: Piyush Goyal
Updated On : 05 Dec 2024 | 12:27 PM IST

Q2 GDP growth at 5.4%: Growth slowdown cyclical or policy-driven?

According to the RBI's assessment, the slow growth in H1FY25 was temporary, attributed to inadequate public spending in Q1FY25 due to the general election and excess rainfall in Q2FY25

Q2 GDP growth at 5.4%: Growth slowdown cyclical or policy-driven?
Updated On : 30 Nov 2024 | 12:26 AM IST

GST fitment committee set to review 18% tax on co-lending services

Under the co-lending model, NBFCs are required to retain a minimum of 20 per cent of individual loans on their books, while the remaining balance is held by banks

GST fitment committee set to review 18% tax on co-lending services
Updated On : 28 Nov 2024 | 11:14 PM IST

RBI asks shadow banks to give information on supply-chain financing

NBFCs may have to rework credit service typically used by small businesses

RBI asks shadow banks to give information on supply-chain financing
Updated On : 15 Nov 2024 | 11:26 AM IST

Credit for growth: Enhanced credit flow to boost MSME investment, growth

Since credit is growing at a healthy pace, lenders must properly evaluate businesses before extending credit

Credit for growth: Enhanced credit flow to boost MSME investment, growth
Updated On : 12 Nov 2024 | 11:45 PM IST

BFSI Summit: Stress at MFIs to recalibrate in a few months, say NBFC CEOs

The MFI sector has been facing significant challenges over the past five to six months, leading to a notable decline in asset quality

BFSI Summit: Stress at MFIs to recalibrate in a few months, say NBFC CEOs
Updated On : 07 Nov 2024 | 11:04 PM IST

TMB bets big on MSME sector, ropes in McKinsey for strategic development

The bank in its AGM highlighted its continued focus on growth and transformation, laying out a comprehensive plan for expansion and digitalisation to drive future growth.

TMB bets big on MSME sector, ropes in McKinsey for strategic development
Updated On : 27 Sep 2024 | 6:07 PM IST

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

Modi 3.0 100 days: Commerce ministry takes steps to support MSME exporters
Updated On : 17 Sep 2024 | 11:35 PM IST

Enhanced credit guarantee coverage to profit 2.7 mn women-led MSMEs: Manjhi

Women-owned micro and small enterprises will get enhanced credit guarantee coverage of 90 per cent under the CGTMSE scheme, after its board approved the new guidelines last week, Union Minister Jitan Ram Manjhi said on Tuesday. The decision is expected to benefit 27 lakh women-led MSMEs, he said. This is a significant step towards improving access of women entrepreneurs to collateral free-credit from banks. Prior to the approval of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Board, women-owned units were entitled to getting 80 per cent credit guarantee coverage. Talking about the enhanced guarantee coverage of 90 per cent, the minister said "27 lakh women-led MSMEs are expected to benefit from this initiative". Briefing the media on the achievements of the Ministry of Micro, Small and Medium Enterprises in the first 100 days after the Narendra Modi-led government returned to power at the Centre, Manjhi said a grand programme is being organised in Wardh

Enhanced credit guarantee coverage to profit 2.7 mn women-led MSMEs: Manjhi
Updated On : 17 Sep 2024 | 5:44 PM IST

Public sector industries must prioritise MSMEs in buying raw materials: MoS

Union Minister of State for MSMEs Shobha Karandlaje on Friday emphasised that public sector industries must prioritise MSMEs when purchasing spare parts and raw materials. A memorandum to that effect will be submitted to Prime Minister Narendra Modi, said Karandlaje. The minister inaugurated a two-day conclave on MSME, organised by the Federation of Karnataka Chambers of Commerce & Industry (FKCCI) at Palace Grounds in Bengaluru. Karandlaje said small, micro, and medium sector industries play a vital role in the industrial development of the country. These MSMEs create jobs for our youth. The Centre has evolved many schemes to encourage MSMEs, she added. She also highlighted that there has been an increased allocation for MSMEs in the Union budget, emphasising that MSMEs are playing a vital role in realizing Prime Minister Narendra Modi's vision of a "Vikasit Bharat." According to Karandlaje, there is a need to improve the skill development of youth in MSMEs to better align with .

Public sector industries must prioritise MSMEs in buying raw materials: MoS
Updated On : 30 Aug 2024 | 6:06 PM IST

India, US ink 'landmark' agreement on cooperation in MSMEs sector

India and the US on Tuesday signed a "landmark" agreement that provides a framework for both sides to explore cooperation in the micro, small and medium enterprises (MSME) sector. External Affairs Ministry Spokesperson Randhir Jaiswal said the Memorandum of Understanding (MoU) would enable MSMEs of the two countries to foster trade. "Today, India-US signed a landmark MoU that enables MSMEs of the two countries to participate in global markets, drive innovation, foster trade, and support women entrepreneurs," he said on X. The MoU was signed in line with a decision taken during Prime Minister Narendra Modi's visit to the US in June last year. The pact was inked by the two sides in New Delhi. The MoU provides a framework for both sides to discuss issues concerning the MSME sector and explore possibilities of cooperation. It envisages the exchange of expertise between the two sides on issues related to improving MSME participation in the global marketplace; cooperation in areas of .

India, US ink 'landmark' agreement on cooperation in MSMEs sector
Updated On : 13 Aug 2024 | 11:45 PM IST

EEPC India, ISSDA sign MoU to promote MSME exports, international trade

The Engineering Export Promotion Council of India (EEPC India) and the Indian Stainless Steel Development Association (ISSDA) on Tuesday signed an MoU to promote exports by MSME members. The two organisations will collaborate to identify potential export products and organise trade exhibitions, buyer-seller meets, and economic summits, an EEPC statement said. The agreement also aims to facilitate the exchange of trade information and encourage international investment through joint ventures and technical collaborations. The MoU was signed by EEPC India's Executive Director Adhip Mitra and ISSDA's Executive Director Rohit Kumar. ISSDA President Rajamani Krishnamurti and other EEPC India's senior officials were also present. EEPC India and ISSDA will jointly conduct capacity-building sessions in different regions to help the engineering goods and stainless steel sectors grow.

EEPC India, ISSDA sign MoU to promote MSME exports, international trade
Updated On : 13 Aug 2024 | 5:16 PM IST

Sidbi partners C2treds, UGRO Capital to facilitate loans to MSME sector

Small Industries Development Bank of India (SIDBI) has partnered with C2treds and UGRO Capital to facilitate loans to the MSME sector. SIDBI has onboarded C2treds, a platform that offers MSMEs liquidity within 24 hours through an online bidding process, C2FO said in a release. C2FO is an on-demand working capital platform, providing fast, flexible and equitable access to low-cost capital to nearly 2 million businesses worldwide. "Through this strategic collaboration, C2treds aims to enhance liquidity for MSMEs at competitive interest rates," it said. C2treds operates under the Trade Receivables Discounting System (TReDS) initiative which enables the discounting of invoices and is regulated by the Reserve Bank of India (RBI) to support the MSME sector in India. As the apex institution for the promotion and development of MSMEs, SIDBI is fully committed to increasing the flow of credit to MSMEs. TReDS has become an effective tool for the prompt realization of MSMEs' receivables and

Sidbi partners C2treds, UGRO Capital to facilitate loans to MSME sector
Updated On : 30 Jul 2024 | 8:51 PM IST

Over 18.4 mn women-owned MSMEs in the country, says Jitan Ram Manjhi

There are over 1.84 crore women-owned MSMEs in the country and the government has taken a number of initiatives to increase the participation of women in the sector, Union Minister of Micro, Small and Medium Enterprises Jitan Ram Manjhi said on Thursday. He said in the Lok Sabha that the women owners of Micro, Small, Medium Enterprises (MSMEs) registered on Udyam and Udyam Assist Platform (UAP), since the launch of Udyam on July 1, 2020 and the launch of UAP on January 11, 2023 in the country, is 39 per cent. "Number of women-owned MSMEs as on July 23, 2024 is 1,84,59,809," he said during Question Hour. Manjhi said the government has taken a number of initiatives to increase the participation of women in MSMEs in the country such as amendment of the Public Procurement Policy in 2018 and mandating central ministries and departments and undertaking to procure at least three per cent of their annual procurement from women entrepreneurs to benefit women entrepreneurs. He said to suppor

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Updated On : 25 Jul 2024 | 4:27 PM IST

Banks cautious on lending to stressed MSMEs due to NPA classification rules

Loans to the sector slows down after accelerating in FY21, FY22

Banks cautious on lending to stressed MSMEs due to NPA classification rules
Updated On : 25 Jul 2024 | 12:00 AM IST

Trade body to nurture, promote women biz leaders in UP's MSME sector

The e-commerce majors are also bullish on the state trading and industrial landscape for growth

Trade body to nurture, promote women biz leaders in UP's MSME sector
Updated On : 24 Jul 2024 | 4:53 PM IST

Credit guarantee to Rs 20 lakh Mudra loan: FM on MSMEs in Budget 2024

Union Budget 2024-25: Finance Minister Nirmala Sitharaman announced the continuation of bank credit to micro, small, and medium enterprises (MSMEs) during stress periods

Credit guarantee to Rs 20 lakh Mudra loan: FM on MSMEs in Budget 2024
Updated On : 23 Jul 2024 | 12:26 PM IST

Budget 2024: Demand for creation of new NBFC-PSL category to boost MSME

The creation of a new category of Non-Banking Financial Companies (NBFCs) dedicated to priority sector lending (PSL) to support the growth of MSMEs features among the key demands by business leaders in the forthcoming Union Budget. Finance Minister Nirmala Sitharaman will present the Union Budget in Parliament on Tuesday. Shachindra Nath, Founder & MD of UGRO Capital Ltd, urged the government to address specific challenges faced by NBFCs that cater to the Micro, Small, and Medium Enterprises (MSMEs). He called for the establishment of NBFC-PSL, which would focus at least 85 per cent of their assets under management (AUM) on the priority sector. "Creating an NBFC-PSL category will foster a more inclusive and resilient financial ecosystem for MSMEs," Nath told PTI. He said loans from banks to NBFCs for onward lending to MSMEs should be classified as PSL loans', with current caps removed. Nath also proposed reintroducing the Partial Credit Guarantee Scheme and expanding it to includ

Budget 2024: Demand for creation of new NBFC-PSL category to boost MSME
Updated On : 22 Jul 2024 | 11:02 AM IST

Budget 2024: Govt plans employment-linked incentive scheme for job creation

Budget 2024: The proposed ELI scheme may offer tax relief and wage subsidies to companies for creating employment opportunities amid rising concerns over 'jobless growth'

Budget 2024: Govt plans employment-linked incentive scheme for job creation
Updated On : 15 Jul 2024 | 6:13 PM IST