Page 7 - Msme

MSME competitive scheme part of efforts to strengthen sector: PM Modi

Prime Minister Narendra Modi on Monday said the government's MSME Competitive (LEAN) scheme is a part of its efforts to strengthen the MSME sector, which is a key pillar of India's economic growth. The government on Friday launched the revamped MSME Competitive (LEAN) scheme to make it more beneficial for enterprises and stakeholders. Under the revamped scheme, the Centre's contribution will be 90 per cent of the implementation cost for hand holding and consultancy fees as against 80 per cent previously. In response to a tweet by MSME Minister Narayan Rane, the prime minister tweeted, "A part of our efforts to strengthen the MSME sector, which is a key pillar of India's economic growth.

BoB cuts interest rates on home and MSME loans taken till month end

Reduces home loan rates by 40 bps, available to those with credit score of 751 and above

Govt offers 5G test bed for free to recognised startups, MSMEs till Jan'24

Department of Telecom (DoT) has offered the usage of 5G test bed free of cost to start-ups and MSMEs recognised by the government, up to January 2024, an official release said on Monday. The release further said that all 5G stakeholders including industry, academia, service providers, research and development institutions, government bodies and equipment manufacturers can utilise this facility at a very nominal rate. The move will encourage the usage of the test bed and give a fillip to the development of indigenous technologies/ products in line with the Aatmanirbhar Bharat' vision. Several start-ups and companies are already using the test bed for testing their products and services, the release added. In March 2018, in view of India's specific requirements and to take lead in 5G deployment, the Department of Telecommunications approved a financial grant for the multi-institute collaborative project to set up Indigenous 5G Test Bed' in India with a total cost of Rs 224 crore. Th

FinMin to meet heads of banks on Feb 22; to review progress ECLGS for MSMEs

Extension of ECLGS and LGSCAS beyond March 31 as well as challenges related to these would be deliberated

Karnataka startups, MSMEs make mark in Aero India with futuristic products

Some of them like NopoNano Technologies, are into producing single-walled carbon nanotubes with wide-ranging applications in aerospace are being manufactured in Bengaluru

udaanCapital disburses Rs 4000 cr in supply-chain financing to MSMEs

The fintech says it is uniquely positioned to tap the $380 billion working capital opportunity in this space

Case for having insurers cater to niche sectors: Irdai's Rakesh Joshi

In order to enhance the insurance force, the regulator is contemplating the concept of Bima Vahak

Over 10,000 MSMEs shut down in 2022-23, highest in past four years

FM Sitharaman revamped the credit guarantee scheme for MSMEs to enable an additional collateral-free guaranteed credit of Rs 2 trillion

Budget cues: Higher public capex, more PLIs and relief for MSMEs

The Survey stresses on the formula which has kept India's economic growth ahead of its peers, and the Budget may just follow suit

ECLGS scheme stopped Rs 2 trn MSME loans from turning bad: SBI report

Launched by govt during pandemic, it also helped save 16.5 million jobs

96% MSMEs in India optimistic about 2023, expect profits to rise: Report

Two in every three MSMEs expect the profit to jump by over 30 per cent: MSME Business Confidence Study

Railways aims to boost MSME markets through DFC infrastructure project

Indian Railways has undertaken a mega-infrastructure project namely the Dedicated Freight Corridor (DFC), comprising Western Dedicated Freight Corridor (WDFC- from Dadri to Jawaharlal Nehru Port Trust 1506 Km) and Eastern Dedicated Freight Corridor(EDFC- from Ludhiana to Sonnagar-1337 Km) covering 2843 route Km in totality.This information was given by the Minister of Railways, Communications and Electronic & Information Technology, Shri Ashwini Vaishnaw in a written reply to a question in Lok Sabha.A total route length of 1610 Km (799 Km of EDFC and 811 Km of WDFC) has been completed out of total 2843 Km till October, 2022.In this regard, a pilot project for 'JPP' has been launched on 31.03.2022, by attaching a Parcel Van in Tapti Ganga Express (19045/46) between Surat and Varanasi.Joint Parcel Product (JPP) has been launched by Indian Railways in collaboration with India Post which aims to target business-to-customer (B2C) and business-to-business (B2B) markets focusing on ...

10th North East Festival begins with promise to boost MSME sector in region

The 10th edition of the North East Festival began here at Jawaharlal Nehru Stadium on Friday with focus on small and medium enterprises as well as the startup ecosystem in the region. The cultural event was inaugurated by Minister of Micro, Small and Medium Enterprises (MSME) Narayan Rane, who said that the festival will help create more job opportunities and boost the startup ecosystem of the northeast. "The primary goal of this festival organised in Delhi is to showcase the best of northeast India's cultural resources and act as an enticing gateway for the exceptional talents of the region," Rane said. He added that there is an emerging startup culture in the northeast and they should take "maximum advantage of technology to boost their businesses". "The government is also leaving no stone unturned to educate the entrepreneurs about emerging technologies to augment the startup ecosystem in the rich Northeast region," the minister said. There are more than 100 MSME businesses tak

Low demand, rise in raw material prices key problems of MSMEs: Survey

The decline in demand and rise in raw material prices due to high transportation costs are the major problems faced by micro, small and medium enterprises in the last 27 months, according to a survey. The report by Bhartiya Yuva Shakti Trust (BYST) also said that though markets have stabilised, about 57 per cent of the units that participated in the survey are struggling to get new orders for their merchandise. "Lesser purchasing power of consumers lead to reduced demand and increased raw material cost due to higher transportation cost with increase in fuel prices have been cited among key problems faced by entrepreneurs during the last 27 months," Lakshmi Venkataraman Venkatesan, Founding and Managing Trustee, BYST, said. Over 5,600 Micro, small and medium enterprises (MSMEs) participated in the survey. While the impact of COVID-19 has been slowly receding, the economic situation is yet to completely stabilise due to multiple factors, according to the report. About 27 per cent of

Chennai-based MSME plays crucial role in Arab world's first lunar rover

The Indian enterprise made key structural parts for the rover, from materials many times lighter and several times stronger than steel

Counterfeiting, smuggling develop into substantial threat to global economy

Jaspal Singh IPS, Director General of Police, Goa informed that awareness is the first step towards enforcement as the problem of trade in illicit products emanates from the lack of awareness.

Shriram Finance turns India's largest retail NBFC after merger: Group

The company has net worth of Rs 40,900 crore and assets under management of Rs 1,71,000 crore

MP govt focuses on investment, developing industrial infra to generate jobs

The Department of Micro, Small and Medium Enterprises (MSMEs) has decided to offer MSMEs and start-ups training in marketing, and financial support

Varanasi-Haldia inland waterway to boost exports in Uttar Pradesh

The Uttar Pradesh government is set to leverage the Varanasi-Haldia inland waterway to boost exports, including those of farm commodities and manufacturing goods

Bank credit to grow 15% YoY in FY23, FY24 on corporate demand: CRISIL

Lenders may have to raise deposit rates at faster pace, says senior executive of agency