Page 9 - Msme Sector

PNB Q2 net profit slips 63% to Rs 411.3 crore as NPA provisions rise

PNB's total income during July-September 2022 was Rs 23,001.3 crore as against Rs 21,262.3 crore a year ago

Credit to industry up 12.6% YoY in September; touches 100-month high

Apart from base effect, credit to industry got a big boost from MSMEs; among sectors, petroleum, gems & jewellery, engineering, iron & steel, and construction were key drivers

OEMs to drive 16-18% rise in auto-parts MSME revenues: CRISIL SME Tracker

MSMEs in the automotive components sector should see higher growth as well, but will lag average industry revenue growth owing to lack of vertical integration.

MSMEs can continue to avail non-tax benefits post re-classification: Govt

Micro, small and medium enterprises will continue to avail all non-tax benefits in their respective categories post re-classification for three years, the government said on Wednesday. The Ministry of MSME has notified that in case of re-classification in terms of investment in plant and machinery or equipment or turnover or both, and consequent re-classification, an enterprise shall continue to avail of all non-tax benefits of the category it was in before the re-classification for three years from the date of the such upward change. "This decision has been taken after due deliberations with MSME stakeholders and is in line with the Aatma Nirbhar Bharat Abhiyan. The Ministry of MSME, Government of India, has allowed those registered MSMEs to continue to avail of non-tax benefits for three years, instead of one year, in case of an upward graduation in their category and consequent reclassification," an official statement said. Non-tax benefits include benefits of various government

Should you be wary of the SME IPO frenzy?

Despite weakness in the secondary markets, many IPOs of SMEs have delivered premium returns recently. Should investors exercise caution before jumping on the bandwagon? We decode in this report

ONDC to start outreach programme to help sellers speed up their business

The first event of the programme will be an introductory session in Delhi NCR for restaurants, food entrepreneurs and cloud kitchens, on Oct 17

Warburg Pincus to acquire majority stake in MSME lender Vistaar Finance

NBFC has more than Rs 2,600 crore in AUM and it has some 200 branches

Uttar Pradesh's merchandise exports surge 32% to Rs 60,578 crore

The electrical machinery/equipment segment grew nearly 90 per cent with shipments jumping to Rs 13,606 crore in the April-July 2022 from Rs 7,202 crore in the year-ago period.

Invest in India story, MSME sector must be promoted: Goyal to industry

Goyal's comments come after Union Finance Minister, Nirmala Sitharaman, recently asked India Inc what is stopping them from investing

MSMEs' input costs rising, but risk to restructured loan book could fall

If MSMEs are unable to pass on input costs to their customers, then units, especially weaker ones, are likely to face difficulties, said a senior executive of a private bank

Finance Minister Sitharaman nudges India Inc to clear unpaid dues of MSMEs

Nirmala Sitharaman said it is encouraging that larger companies are including amounts owed to MSMEs in annual statements

Why India's first high-throughput satellite broadband service is a big deal

The resulting explosion of bandwidth would provide a big boost to commerce in underserved areas

JSW sets ambitious goals for e-commerce business, eyes $20-bn GMV by FY32

Of the targeted $20 billion GMV by FY32, JSW products is expected to account for 65 per cent, the balance would be non-JSW

Existing players will join once penetration crosses single digits: ONDC CEO

In a Q&A, T Koshy, dwells on the network's national road map, challenges in onboarding small retailers, and the value proposition for customers

UP Inc forges tie-ups in Africa, Europe to achieve $1 trn economy target

The 13 thriving business clusters in Denmark are seen having a good potential for joint ventures, import and export, especially for the MSME sector

ONDC to soon open up for beta-testing for public in limited areas

Since April-end, ONDC has been testing with a closed user group for end-to-end execution.

Odisha govt plans to set up MSME parks in every district: SC Mohapatra

Odisha government has plans to set up micro, small and medium enterprises (MSMEs) parks in all the 30 districts of the state, a top government official said. MSMEs will get all infrastructure support including land, electricity and water in the districts, chief secretary S C Mohapatra said in a programme here. Odisha Industrial Infrastructure Development Corporation (IDCO) has been given more than Rs 450 crore to develop the required infrastructure in the districts for the purpose, he said at the concluding session of Propack Odisha 2022 and MSME Odisha 2022 organised by Odisha Assembly of Small and Medium Enterprises (OASME) on Sunday. "In the last few years, we saw 30-40% growth in finance to MSMEs by banks which is encouraging. Chief Minister Naveen Patnaik has held two rounds of meeting with bankers in this regard, Mohapatra said in response to entrepreneurs allegation of non-cooperation from banks. Odisha Industries Minister P K Deb said the younger generation must take risk a

Distinguished scientist Samir V Kamat appointed DRDO Chairman: Ministry

The Appointments Committee of the Cabinet has approved Kamat's appointment from the date of his assumption of charge till he attains the age of 60 years

10 mn apprenticeships in 10 yrs: What India needs to solve its unemployment

TeamLease and JustJobs Network report notes that instead of around 125,000 apprentices, CPSUs have only 41,250 on board

Indian Bank inks MoU with SRM University in Andhra to lend up to Rs 50 cr

This collaboration will further strengthen the MSME sector, stated University Registrar Dr. R Premkumar, signing the MoU.