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The government is set to extend quality certification fee concessions by three years beyond the current mid-2026 deadline to support small and medium enterprises, a senior official said on Tuesday, as India pushes a quality-first approach to manufacturing. The Bureau of Indian Standards (BIS) has moved a proposal for the extension, which provides 80 per cent fee reduction for micro units, 50 per cent for small enterprises and 20 per cent for medium-sized firms. "Very recently we have moved a proposal, it is likely to fructify... this concession would be available for the next three years," said Bharat Khera, additional secretary in the Consumer Affairs Ministry, at a PHD Chamber of Commerce event. India needs to shift from compliance-driven to culture-driven quality standards to transform its Viksit Bharat manufacturing vision into reality, Khera said, warning that quality is not a compliance cost but "an enabler for market access". The BIS has published over 23,000 standards with
Public sector banks under the digital credit underwriting programmes sanctioned over 3.96 lakh MSME loan applications amounting to over Rs 52,300 crore between April 1 and December 31, 2025, the finance ministry said on Monday. The Public Sector Banks (PSBs) had launched the Credit Assessment Model (CAM) based on digital footprints for Micro, Small & Medium Enterprises (MSMEs) in 2025. This credit assessment model leverages the digitally fetched and verifiable data available in the ecosystem and devises automated journeys for MSME Loan appraisal using objective decisioning for all loan applications and model-based limit assessment for both Existing to Bank (ETB) as well as New to Bank (NTB) MSME borrowers, a finance ministry statement said. "Between 1st April and 31st December, 2025, over 3.96 lakh MSME loan applications amounting to more than Rs 52,300 crore have been sanctioned by the Public Sector Banks (PSBs) under the digital credit underwriting programmes," the ministry said
The FY27 Budget should look at measures like supporting MSMEs through export credit and concessional financing, as well as funding exploration of critical minerals to enhance trade resilience and reduce external vulnerabilities, Deloitte India has said. In its Budget expectation, Deloitte said that MSMEs account for 46 per cent of India's exports and are the second largest employer after agriculture. Easing financial and compliance pressures will help these enterprises navigate global volatility, sustain production and remain competitive in international markets. "Strengthening MSMEs will safeguard jobs and drive inclusive economic growth, boost rural incomes and support India's ambition to become a global manufacturing hub," it said. Deloitte suggested a comprehensive training to improve the last-mile competitiveness of MSMEs and reduce compliance burden through simplified digital processes. It also suggested that targeted export incentives or enhanced duty drawback be provided t
The Federation of Associations of Cottage and Small Industries (FACSI) has urged the Centre for tax, credit and regulatory relief measures for micro and small enterprises in the 2026-27 Union Budget, to sustain growth and strengthen their role in the industrial ecosystem. In a recent pre-budget letter to Finance Minister Nirmala Sitharaman, FACSI president H K Guha said the recommendations were framed after consultations with various associations of entrepreneurs and MSE groups across the country. Among the key demands, the industry body has sought the constitution of an exclusive council for small and micro enterprises under the Ministry of MSME, a higher exemption threshold under the GST regime and a single, simplified GST return for small units. FACSI has also called for statutory collateral-free lending of up to Rs 1 crore for MSEs at an interest cap of 6-7 per cent, along with interest subvention during periods of financial stress, and automatic renewal of working capital limit