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MSMEs
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
India and the European Union (EU) on Friday held talks in Brussels on the proposed Free Trade Agreement (FTA) and reaffirmed their commitment to a rules-based trading framework and a modern economic partnership that safeguards the interests of farmers and MSMEs. Commerce and Industry Minister Piyush Goyal is on a two-day official visit to the EU headquarters for the talks. He has held high-level talks with EU Trade and Economic Security Commissioner Maros Sefcovic for securing a mutually beneficial FTA. "During this dialogue, we deliberated across key areas of the proposed agreement. We reaffirmed our commitment to a rules-based trading framework and a modern economic partnership that safeguards the interests of farmers and MSMEs while integrating Indian industries into global supply chains," Goyal said in a social media post. The ministerial engagements follow a week of intensive deliberations in Brussels, building upon the groundwork laid during high-level discussions held earlie
Union Home Minister Amit Shah on Thursday said India's entry into the semiconductor industry was "strong" though a bit late, but the country would soon be self-reliant in the sector and even start exporting. Speaking at the Abhyudaya Madhya Pradesh Growth Summit here, he praised the BJP government in the state for the registration of 4.57 lakh MSMEs (Micro, Small and Medium Enterprises) in just one year. Thanks to Madhya Pradesh's geographical location and its fertile land, one can earn crores of rupees by investing even a small amount, he said. "We have made a strong entry into the semiconductor industry, although a bit late. Very soon we will not only become self-reliant in the semiconductor sector, but also start exporting," he said. Shah inaugurated or performed groundbreaking ceremony for industrial projects worth Rs 2 lakh crore on this occasion to mark the 101st birth anniversary of former prime minister Atal Bihar Vajpayee. "Atal ji was a great orator, sensitive poet, a le
Adoption of Artificial Intelligence (AI) in India's 64 million Micro, Small and Medium Enterprises (MSMEs) alone could unlock over USD 500 billion in economic value, but the country must pivot from an "adopt-first" to an "invent-first" mindset to realise this potential, according to a new report. The report, titled "India's Triple AI Imperative: Succeeding with AI in India", released by Boston Consulting Group (BCGX) and Federation of Indian Chambers of Commerce & Industry (FICCI), noted that while India has one of the world's fastest-growing AI markets, it faces significant gaps in deep innovation and value realisation. BCG X is the technology build, design, and innovation arm of Boston Consulting Group (BCG). "A particularly untapped opportunity lies in India's 64 million MSMEs. AI adoption in this segment alone could unlock over USD 500 billion in economic value, through productivity gains, cost savings, and improved access to credit," the report stated. However, the findings ..
West Bengal Chief Minister Mamata Banerjee is expected to address over 12,000 traders at the Byabasayi Sammelan 2025' here on December 17, in a major outreach to the state's MSME-driven trading community ahead of next year's assembly elections. A business meet is also scheduled for December 18 to facilitate interactions with industry representatives, as the usual two-day international business summit is not being held this year in view of the upcoming polls. The Byabasayi Sammelan 2025' assumes significance as the state government seeks to consolidate support from all quarters, including small businesses, in the run-up to the 2026 assembly elections. The Confederation of West Bengal Trade Associations (CWBTA) president Sushil Poddar said the event, where Banerjee will be the chief guest, would provide a platform for the CM to connect with thousands of small traders, who form the backbone of Bengal's supply chain. Traders create livelihood opportunities for more than one crore peopl
Odisha has emerged as the most attractive state in India for micro, small, and medium enterprises, Chief Minister Mohan Charan Majhi said here on Sunday. Addressing the valedictory function of the Odisha Industry Conclave-2025, Majhi said his government is committed to making the dreams of four and a half crore people of Odisha a reality. Since the BJP came to power in 2024, the government has taken several steps to promote industrial development in Odisha, he said. Under our 'Go Swift Single Window' system, projects are being approved not in months but in a single day. This year, 6.1 per cent of our state's GDP has been invested in infrastructure, which is the highest in India, he said. Noting that the 'Laghu Udyog Bharati' has a significant role to play in the journey of industrialisation in the state, he said the efforts of this institution in supporting more than 980 industrial units, creating employment, facilitating entrepreneurs and contributing to the goal of a self-reliant