Page 8 - Msme

Comm ministry may seek extension of interest equalisation for exporters

The commerce ministry is likely to seek further extension of the interest equalisation scheme on pre- and post-shipment rupee export credit for another five years to promote the country's outbound shipments, an official has said. The scheme will end on June 30 this year. "The ministry will do revamping of some schemes like interest equalisation scheme. We would propose an extension of the scheme for five years. The scheme is doing good, and it is helping the exporters," the official said. On December 8, 2023, the Union Cabinet approved an additional allocation of Rs 2,500 crore for the continuation of the scheme up to June 30. The scheme helps exporters from identified sectors and all MSME manufacturer exporters to avail of rupee export credit at competitive rates at a time when the global economy is facing headwinds. Exporters get subsidies under the 'Interest Equalisation Scheme for pre and post-shipment rupee export credit. The additional outlay of Rs 2,500 crore, over and abov

Co-lending book of NBFCs likely to touch Rs 1 trillion mark by June

The partners may increase their focus on other asset classes such as loans to micro, small and medium enterprises (MSME) and home loans, given higher risk weights for personal loans

Digital Competition Bill could negatively impact MSMEs, study finds

'Learn from the experience of the European Union and its experiment with the Digital Markets Act'

Uttar Pradesh sees rise in education loans, outstanding amount declines

In UP, the number of digital transactions jumped nearly threefold to 11.74 billion in FY23 from 4.26 billion in FY22

Increasing ambitions

MSMEs must be encouraged to tap export opportunities

Centre approves Rs 114.8 crore to develop MSME sector in Rajasthan

The central government has approved a sum of Rs 114.80 crore for Rajasthan under the Raising and Accelerating MSME Performance (RAMP) programme, Chief Minister Bhajanlal Sharma said on Thursday. The funds will give impetus to MSME enterprises of the state and help enhance their capacity. The funding will also help in meeting the financial needs of micro, small and medium enterprises towards achieving the goals of Developed India-Developed Rajasthan, the chief minister said. The RAMP programme is being run by the Centre for the MSME sector from 2022. Under this, a strategic investment plan was sent by the state to the central government, on which the state has got approval for an amount of Rs 114.80 crore. Industry and Commerce Minister Rajyavardhan Singh Rathore said that the funds received under the RAMP programme will help in achieving the goals of the schemes and programmes run by the state and central governments for MSMEs. This will also help in creating a positive environment

DGFT inks agreement with DHL to train MSMEs on e-commerce exports

To promote e-commerce exports, the commerce ministry's arm DGFT in partnership with logistics services provider DHL will conduct training sessions and workshops for MSMEs in 76 districts of the country, a statement said on Thursday. The exercise is aimed at preparing MSMEs to tap the growing potential of increasing exports through e-commerce medium, the Directorate General of Foreign Trade (DGFT) said in the statement. The DGFT has been actively engaging to boost e-commerce exports from the country, leveraging its 'District as Export Hubs' initiative. It has been collaborating with various e-commerce platforms and other service providers to conduct capacity-building and training sessions in the identified districts. "The goal is to promote and enable micro, small and medium enterprises (MSMEs) to explore the international markets through e-commerce channels," the ministry said. "Today DGFT partnered with DHL through the signing of a Memorandum of Understanding (MoU) which will cov

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