Page 4 - Msme

MSMEs need to be future ready, foster development, says CII president

CII conference highlights MSMEs' future readiness and role in eastern region's development

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

Work on quality, live up to global standards: PM Modi tells MSMEs

Noting that the country viewed the future of Micro, Small and Medium Enterprises (MSMEs) as the future of the nation, Prime Minister Narendra Modi on Tuesday urged the sector to work on quality and durability and live up to global standards. For its part, the Centre was striving on multiple fronts to improve their resources from money to talent and initiatives like the PM Mudra Yojana and PM Vishwakarma Yojana were playing a huge role in this direction, he said. Further, the government has given an impetus to infrastructure development in India through the PM Gatishakti National Master Plan for providing multimodal connectivity infrastructure. "Today, the MSMEs have a huge opportunity to be part of the global supply chain. However, for this, our MSMEs have to work on its quality and durability. We need to work to live up to the global standards," the Prime Minister said at the launch of CII-TVS Mobility Centre of Excellence on Employment and Livelihood, held here. The "Creating the

DRDO hands over 23 licensing agreements for transfer of technologies

Premier defence research organisation DRDO on Sunday handed over 23 licensing agreements to several defence producers facilitating transfer of critical technologies to manufacture a range of military equipment in the domains of armaments, naval systems and aeronautics, among others. The agreements were handed over at the 'MSME Defence Expo' that was organised by the Defence Research and Development Organisation (DRDO) in Pune. The technologies being transferred by the DRDO to the defence producers would cover the domains of electronics, laser systems, armaments, life sciences, combat vehicles, naval systems and aeronautics, the defence ministry said. These technologies would facilitate manufacturing of a series of military equipment including brakes for Light Combat Aircraft Tejas, 100-metre infantry foot bridge (floating), 40 mm high explosive anti-personnel (HEAP) grenade and high pressure water mist fire suppression system (HPWMFSS), officials said. "The products based on these

Govt extends the interest equalization scheme until June 30, 2024

The scheme, inaugurated on April 1, 2015, was originally slated for a five-year duration until March 31, 2020

NSE, Goa govt ink pact to facilitate fund raising for MSME sector

The National Stock Exchange (NSE) on Tuesday said it has collaborated with the Goa government to spread awareness among MSMEs of the state regarding fundraising through the IPO mechanism using its platform. As part of the pact, NSE with the support of the Goa government will conduct awareness drives through seminars, MSME (Micro, Small & Medium Enterprises) camps, knowledge sessions, roadshows, and workshops to guide corporates across the state for fundraising on the NSE Emerge platform and handhold companies in the listing process. "Listing on NSE Emerge platform shall provide an alternate source of investment raising opportunity for growing SMEs by accessing public capital along with enhancing goodwill and gaining visibility and credibility," Mauvin Godinho, Minister of Transport, Industries, Panchayat, Protocol, Government of Goa, said. Sriram Krishnan, Chief Business Development Officer of the bourse said that NSE Emerge enables SMEs to raise capital efficiently and increase ..

MSME apparel makers may face losses up to Rs 7,000 crore in Q4: CMAI

Says retailers dropping order because of amendment to I-T Act on payment to MSMEs

PM Modi, UAE counterpart launch Bharat Mart for promoting Indian MSMEs

Prime Minister Narendra Modi and his UAE counterpart Sheikh Mohamed bin Rashid Al Maktoum on Wednesday virtually laid the foundation stone of Bharat Mart that will offer the Indian MSME sector an effective platform to reach out to international buyers. Modi and Maktoum took part in the virtual foundation laying event at Jebel Ali Free Trade Zone here for the Bharat Mart that will be built by DP World, a statement from the Ministry of External Affairs said. Prime Minister said that Bharat Mart has the potential to play an important role in promoting exports of the micro, small, and medium (MSME) sectors of India by providing them an effective platform to reach out to international buyers in the Gulf, West Asia, Africa, and Eurasia, it said. The two leaders expressed confidence that Bharat Mart will propel India-UAE bilateral trade further by leveraging Jebel Ali Port's strategic location and strength in logistics, the statement said. Earlier in the day, Modi addressed the World ...

UdaanCapital disburses Rs 170 cr to Saint Gobain's distribution network

"We believe in forging strong partnerships to advance our goal of building next-generation working capital products for India's trade," said Chaitanya Adapa, Head of UdaanCapital

Monetary policy review: Key fact statement must for retail, MSME loans

Providing critical information about the terms of the loan agreement, including the all-inclusive interest cost, will significantly benefit borrowers in making informed decisions

Ugro Capital raises Rs 250 crore in debt from Asian Development Bank

MSME-focused non-banking lender Ugro Capital on Wednesday said it has raised Rs 250 crore in debt from the Asian Development Bank (ADB). The funding from the developmental lender through subscribing to its non-convertible debentures will be used for on-lending. The company had raised a similar amount of debt in December 2023 through a similar debt sale from the Dutch entrepreneurial development bank FMO. Ugro has an asset under management of Rs 8,363.8 crore as of December 2023. Over the last five years, it has raised a total of Rs 9,137.8 crore in equity and debt from diverse institutional sources, Ugro founder and managing director Shachindra Nath said. Suzanne Gaboury, director-general for private sector operations at ADB, said MSME finance is a key driver for financial inclusion, and Ugro's efforts at solving the credit need of small businesses are in line with the bank's vision of promoting inclusive and sustainable prosperity in Asia and the Pacific.

Assocham appeals to Centre to focus on spiritual tourism in Budget

The Budget session of Parliament, the last session before the general elections expected in April-May, will begin on January 31 and is likely to continue till February 9

UP plans to integrate higher education with incubators to support biz ideas

According to a KPMG report, Uttar Pradesh emerged the country's fourth-largest startup ecosystem, with eight unicorns and two potential soonicorns. At present, two soonicorns are working in the state

CredAble records a two-fold increase in loan disbursements in 2023

The company plans to raise $50-75 million by June this year in its series C round

Nine out of 10 MSMEs expect to make profits this year, says report

Many companies plan to increase hiring and most expect they will need loans

UP govt distributes loans worth Rs 1.72 trn in FY24 to boost MSME sector

The MSME advances clocked Rs 1.5 trillion in FY23 against the target of Rs 78,000 crore, proliferating by 191 per cent

Crucial to identify real beneficiaries of interest subvention scheme: GTRI

It is crucial for the government to identify real beneficiaries of the interest subvention scheme provided to various export sectors, think tank GTRI said on Saturday. The Union Cabinet on Friday approved an additional allocation of Rs 2,500 crore for the continuation of interest equalisation or subsidy scheme on pre- and post-shipment rupee export credit up to June 30 next year. Launched on April 1, 2015, the scheme was initially valid for five years up to March 31, 2020. It has been continued thereafter, with a one-year extension during COVID, and further extensions and fund allocations. "No detailed study of the scheme has been done yet. It is important for the government to identify the actual beneficiaries. Considering the low spending, it is possible that a few large entities, rather than MSMEs, are reaping the most benefits," the Global Trade Research Initiative (GTRI) said. It is also necessary to find out which product groups receive the most credit and the effectiveness

Union Cabinet approves Rs 2,500 crore for Interest Equalisation Scheme

This would help exporters from identified sectors and all MSME manufacturer exporters to avail of pre and post-shipment Rupee export credit at competitive rates

Paytm expands loan distribution business, targets personal, merchant loans

Paytm said that it would continue to collaborate and add banks and NBFCs as lending partners for its loan distribution business

65% of MSME firms found manufacturing substandard drugs since Dec: Report

The Central Drugs Standard Control Organisation (CDSCO) and state drug inspectors have been conducting inspections as part of a massive nationwide crackdown on spurious and substandard medicines