Page 2 - Msme Sector

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.

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

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

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

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

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

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

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: 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'

Industry body urges FM Sitharaman to continue 45-day MSME payment rule

Industry body SME Chamber of India has urged Finance Minister Nirmala Sitharaman to continue the 45-day MSME payment rule for corporates and other buyers. According to Section 43B(h) of the Income Tax Act, introduced through the Finance Act 2023, if a larger company does not pay an MSME on time -- within 45 days in case of written agreements -- it cannot deduct that expense from its taxable income, leading to potentially higher taxes. The government in last year's Budget added a new clause under Section 43B of the Income Tax Act to address the challenge of delayed payments faced by MSMEs in the country. "We are pursuing not to change the 45-day MSME payment rules imposed by the Department under the pressure of corporates or multinational companies to save the life span of the MSME sector. Section 43B(h) of the Income Tax Act reinforces the importance of timely payments by mandating that companies settle payments to MSME vendors within 45 days to qualify for deductions," SME Chamber

700% surge in just 6 months: 25 SME stocks double in 2024; sell or hold?

Analysts caution that the sharp rally in SME stocks makes them a risky proposition at current levels, and also highlight the inherent risk associated to such investments.

Budget 2024: MSME ministry gets 'positive' feedback on 45-day payment rule

Any change in Finance Bill prerogative of finance ministry, says official

DoT begins baseline survey for MSME; focuses on digital evolution via 5G

Aims to identify manufacturing sectors readiness for AI, 5G and advanced tech

Will end 'Inspector Raj' for all retailers: BJP's Chandni Chowk candidate

Khandelwal said that ensuring 'dignity' of the traders in his constituency will be his utmost priority

Rajasthan govt plans a boost for its artisans in handicrafts, MSME sectors

Cluster development schemes are being run by various central government ministries such as MSME, textiles, food processing, information and technology, and commerce and industry to support MSMEs

Klub and U GRO Capital sign partnership to disburse Rs 150 crore

The allocated fund of Rs 150 crore will facilitate lending activities across the country while offering debt financing of up to Rs 30 crore in a single tranche through Klub's platform

How to register MSME on Udyam portal? A step-by-step guide on procedure

Udyam registration is an electronic certification provided by the Indian government to MSMEs

Global toy majors shifting focus from China to India, exports jumped 239%

Popular brands like Hasbro, Mattel, and Spin Master depend more on India for sourcing

UP govt aims to develop MSME export hubs to compete in global markets

The MSME department is working on a plan to promote 75 districts as potential export hubs for local industries to create jobs and contribute to the Rs 1 trillion dollar economy goal

Women-owned MSMEs boost jobs and economy ahead of women's day: Report

Women-owned MSMEs hired 11% more women, created one-third of new jobs, and reported a 12% rise in monthly revenue, finds Kinara Capital's MSME Insights report

MSME loan portfolio's delinquency rate down to two year low of 2.3%: Report

The availability of enriched and timely credit data and rapid implementation of digital lending infrastructure has contributed significantly towards enhancing lender confidence, it said