Page 3 - Msme

45-day SME payment rule aims to ease working capital issues, faces hiccups

For SMEs, which play a significant role in job creation and exports, this is a welcome move. However, the going has not been smooth

60 drug makers join govt scheme to modernise pharma manufacturing units

Indian pharmaceutical companies recently came under the scanner after global supplies of certain medicines were found to be toxic

Govt extends interest equalization scheme by two months for MSME exporters

Ashwani Kumar, president of the Federation of Indian Export Organisations (FIEO), expressed disappointment for exporters who are exporting products under 410 tariff lines

Almost 60% of MSMEs plan to digitise their business processes by 2025: Vi

Almost 60 per cent of MSMEs plan to digitise their business processes, and 43 per cent plan to increase their digitalisation budget by 2025, according to a study by Vi Business, the enterprise arm of Vi (Vodafone Idea). Medium, Small, and Micro Enterprises (MSMEs) are the backbone of India's economy, currently contributing nearly 30 per cent to the country's GDP, the report said. There are several studies that suggest MSMEs will boost their GDP contribution to 35-40 per cent by 2027. Hence, MSMEs must adopt digital transformation to unleash their growth potential and play a pivotal role in making India a Viksit Bharat (a developed economy) by 2047, it said. The 'Vi Business ReadyForNext MSME Growth Insights Study' drew insights from 1.6 lakh respondents across 16 industries. "In FY 2025, MSMEs are looking to prioritise digitalising business processes (59 per cent) over workspace optimisation (29 per cent), and customer engagement (12 per cent), indicating need for future-proofing

Skills, financial support, AI access key challenges for tech MSMEs: Nasscom

Around 94% of tech MSMEs acknowledged AI's ability to drive business growth, and 87% showed confidence in AI's potential to improve overall productivity in their enterprises

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.

CRISIL SME TRACKER: Road SME players' margins may remain stable in FY25

In FY24, state spends are expected to go up further by 8-12 per cent as their percentage achievement of budgetary allocations are expected to be largely in line with historical average

BII vows $75 mn to Symbiotics' 2nd green basket bond for emerging markets

British International Investment, the UK's development finance institution, on Tuesday said it has committed USD 75 million (about Rs 625 crore) to the second green basket bond arranged by emerging markets access platform and financial lender Symbiotics Investments. The green lending programme will increase financing to small-scale green projects across Africa, South and South-East Asia through MSME lenders, with 50 per cent of the financing earmarked for India, British International Investment (BII) said in a statement. It will focus on supporting new MSME lenders not included in the first green basket bond. The first green basket bond supported 11 MSME lenders in India, Vietnam, Cambodia, Tunisia, Botswana, Kenya, Bangladesh and Nepal, it added. "Partnering with Symbiotics on a second green basket bond signifies a continued commitment to empowering smaller financial institutions and supporting sustainable development in climate-vulnerable regions," BII Managing Director and Head o

Informal entities in manufacturing lost 5.4 million jobs in 7 years

Unincorporated enterprises lost 1.8 mn establishments between Jun 2016 and Sep 2023, according to the 2 surveys

Budget: Exempt us from 45-day payment rule or extend deadline, say MSMEs

Sanjay Goenka of the Bihar Industries Association said the 45-day payment window was hotly debated, and they have contributed to the consultative process on the subject

MSMEs: The nuances beyond financial parameters

With the new government, the hope for a new gambit for MSMEs is a pressing priority at the moment, and any move is welcome in the wake of World MSME Day to be celebrated on June 27

MSME loans will be 'focal point' for growth over next 5 years: SBI

SBI, the country's largest lender, on Tuesday said small business lending will be the "focal point" for growth and profit for the next five years. The state-owned lender launched a product christened "SME (small and medium enterprises) Digital Business Loans", under which loans will be sanctioned in 45 minutes. "MSME (micro, small and medium enterprises) advances have been identified as the focal point for the bank's growth and profitability over the next five years," an official statement said. The bank is aiming to broaden credit accessibility for small businesses in the coming months by extending availability across all partner customer service point touchpoints and via QR codes at outdoor touchpoints in the coming months, the statement said. For the year ended on March 31, 2024, the bank's overall SME book grew by over 20 per cent to Rs 4.33 lakh crore and gross non performing assets in the book came down to 3.75 per cent from a peak of 9.43 per cent in FY20. The newly launche

Former Bihar CM, HAM founder Jitan Ram Manjhi appointed as MSME minister

Manjhi was chief minister of Bihar from May 2014 to February 2015

Comm ministry may seek extension of interest equalisation for exporters

The commerce ministry is likely to seek further extension of the interest equalisation scheme on pre- and post-shipment rupee export credit for another five years to promote the country's outbound shipments, an official has said. The scheme will end on June 30 this year. "The ministry will do revamping of some schemes like interest equalisation scheme. We would propose an extension of the scheme for five years. The scheme is doing good, and it is helping the exporters," the official said. On December 8, 2023, the Union Cabinet approved an additional allocation of Rs 2,500 crore for the continuation of the scheme up to June 30. The scheme helps exporters from identified sectors and all MSME manufacturer exporters to avail of rupee export credit at competitive rates at a time when the global economy is facing headwinds. Exporters get subsidies under the 'Interest Equalisation Scheme for pre and post-shipment rupee export credit. The additional outlay of Rs 2,500 crore, over and abov

Co-lending book of NBFCs likely to touch Rs 1 trillion mark by June

The partners may increase their focus on other asset classes such as loans to micro, small and medium enterprises (MSME) and home loans, given higher risk weights for personal loans

Digital Competition Bill could negatively impact MSMEs, study finds

'Learn from the experience of the European Union and its experiment with the Digital Markets Act'

Uttar Pradesh sees rise in education loans, outstanding amount declines

In UP, the number of digital transactions jumped nearly threefold to 11.74 billion in FY23 from 4.26 billion in FY22

Increasing ambitions

MSMEs must be encouraged to tap export opportunities

Centre approves Rs 114.8 crore to develop MSME sector in Rajasthan

The central government has approved a sum of Rs 114.80 crore for Rajasthan under the Raising and Accelerating MSME Performance (RAMP) programme, Chief Minister Bhajanlal Sharma said on Thursday. The funds will give impetus to MSME enterprises of the state and help enhance their capacity. The funding will also help in meeting the financial needs of micro, small and medium enterprises towards achieving the goals of Developed India-Developed Rajasthan, the chief minister said. The RAMP programme is being run by the Centre for the MSME sector from 2022. Under this, a strategic investment plan was sent by the state to the central government, on which the state has got approval for an amount of Rs 114.80 crore. Industry and Commerce Minister Rajyavardhan Singh Rathore said that the funds received under the RAMP programme will help in achieving the goals of the schemes and programmes run by the state and central governments for MSMEs. This will also help in creating a positive environment

DGFT inks agreement with DHL to train MSMEs on e-commerce exports

To promote e-commerce exports, the commerce ministry's arm DGFT in partnership with logistics services provider DHL will conduct training sessions and workshops for MSMEs in 76 districts of the country, a statement said on Thursday. The exercise is aimed at preparing MSMEs to tap the growing potential of increasing exports through e-commerce medium, the Directorate General of Foreign Trade (DGFT) said in the statement. The DGFT has been actively engaging to boost e-commerce exports from the country, leveraging its 'District as Export Hubs' initiative. It has been collaborating with various e-commerce platforms and other service providers to conduct capacity-building and training sessions in the identified districts. "The goal is to promote and enable micro, small and medium enterprises (MSMEs) to explore the international markets through e-commerce channels," the ministry said. "Today DGFT partnered with DHL through the signing of a Memorandum of Understanding (MoU) which will cov