Page 10 - Msmes

MSMEs' access to formal bank financing hurt due to asset shortage: RBI DG

It is challenging to assess the creditworthiness of small enterprises, says Swaminathan J

Govt committed to 'major economic reforms', says PM Narendra Modi

PM said, his government has chosen the path of reforms to bring about a change in the lives of the poor, the middle class, deprived people, the urban population, and the youth

MSMEs to get Rs 15,000-crore subsidy to boost recycling, efficiency

Set to launch by early 2025, the initiative will focus on establishing material recovery facilities (MRFs) and managing the treatment of post-consumption products

'TN accounts for 15% of India's MSME sector, employs 14 mn people'

Tamil Nadu accounts for 15 per cent of the country's micro, small and medium enterprises sector, employing about 14 million people, Minister for Industries T R B Rajaa said on Tuesday. As much as 30 per cent of the state's industrial output is contributed by the MSME sector, he said at an event here. The state leads in women-run micro, small and medium enterprises with over 10 lakh units helmed by them, Rajaa said, after launching the Confederation of Indian Industry Tamil Nadu Micro Entrepreneurs Forum here, in the presence of CII Director General Chandrajit Banerjee, CII past president R Dinesh and CII Southern Region Chairperson R Nandini, among others. "As we launch this new CII project aimed at supporting micro enterprises, I want to emphasise the government's commitment to fostering entrepreneurship and job creation. The MSME sector alone contributes to 30 per cent of the state's industrial output and 45 per cent of exports," Rajaa said. According to CII officials, micro ...

Commerce ministry developing e-platform to connect exporters, MSMEs, govt

The government on Tuesday said it is developing a trade connect e-platform to connect exporters, MSMEs and entrepreneurs with various stakeholders including Indian missions abroad, export promotion councils, and other partner government agencies. Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha that the platform will provide information on trade events taking place in different parts of the world, benefits available due to India's free trade agreements (FTAs) and other international trade-related information and data. "The government has initiated the creation of a trade connect e-platform to connect Indian exporters, MSMEs and entrepreneurs with various stakeholders including Indian Missions Abroad, Export Promotion Councils, and other partner government agencies," he said. Replying to a separate question, Prasada said that the major districts which are recording healthy export growth include Jamnagar, Kanchipuram, Mumbai, Pune, ..

Budget 'nudges' in the right directions

But much bolder and comprehensive reforms are needed

Sidbi partners C2treds, UGRO Capital to facilitate loans to MSME sector

Small Industries Development Bank of India (SIDBI) has partnered with C2treds and UGRO Capital to facilitate loans to the MSME sector. SIDBI has onboarded C2treds, a platform that offers MSMEs liquidity within 24 hours through an online bidding process, C2FO said in a release. C2FO is an on-demand working capital platform, providing fast, flexible and equitable access to low-cost capital to nearly 2 million businesses worldwide. "Through this strategic collaboration, C2treds aims to enhance liquidity for MSMEs at competitive interest rates," it said. C2treds operates under the Trade Receivables Discounting System (TReDS) initiative which enables the discounting of invoices and is regulated by the Reserve Bank of India (RBI) to support the MSME sector in India. As the apex institution for the promotion and development of MSMEs, SIDBI is fully committed to increasing the flow of credit to MSMEs. TReDS has become an effective tool for the prompt realization of MSMEs' receivables and

MoD, NSE sign agreement to help MSMEs, emerging firms in defence sector

The Defence Ministry and the National Stock Exchange on Monday signed an agreement that seeks to help Micro, Small and Medium Enterprises and emerging companies in the defence sector to scale up their business operations, explore new markets and fund their research and development activities. The Memorandum of Understanding has been signed to facilitate capital market access to the MSMEs. It intends to facilitate MSMEs in the defence sector to raise productive capital for their growth plan efficiently and transparently through the NSE platform 'NSE Emerge', the defence ministry said in a statement. The platform offers new and viable options for raising equity capital from a diversified set of investors, it said. The MoU was signed by the additional secretary the Department of Defence Production (DDP) and managing director, NSE in the presence of Defence Secretary Giridhar Aramane. "The MoU will be in force for a period of five years, during which, DDP and NSE would conduct an ...

MSMEs' 180-day repay period demand genuine: PNB MD & CEO Atul K Goel

Goel discussed the public sector lender's latest quarterly results and its expansion plans

Strengthening IBC: Extend prepack to big companies, says industry

Both the finance minister and the economic survey have highlighted the success of IBC

Union Budget 2024: Govt puts focus on shipbuilding, cruise tourism reforms

Shipbuilding, Cruise Push to Pave Way for Employment, says Sonowal

Budget 2024-25: Credit support for MSMEs to help them compete globally

The budget also announced a new mechanism for facilitating the continuation of bank credit to MSMEs during their stress period

Budget 2024: Defining trajectory pathways for Viksit Bharat@2047

Competitive federalism can install accelerators in key sectors

Companies now have to report dealings with MSEs on half-yearly basis

This will ensure greater transparency and discourage delayed payments to small enterprises

Tens of thousands of small biz gear up to offer Prime Day deals: Amazon

The owners of small firms would offer deals on lakhs of products to customers across various categories such as home and kitchen, fashion and grooming on the e-commerce website

Union Budget 2024-25: MSMEs bat for Rs 5,000 crore export booster

India SME Forum suggested setting up an export promotion and development organisation to support MSMEs in market intelligence, trade opportunities, B2B outreach and connections

Govt may relax 45-day payment rule for MSMEs in Union Budget 2024

The government may relax the requirement of making payments to MSMEs within 45 days of buying goods and services to check large corporate from looking at other sourcing avenues, sources said. The announcement to this effect could be made in the Budget likely to be presented on July 23. The government is considering suggestions regarding changes to Section 43B(h) of the Income Tax Act made by MSMEs during pre-Budget consultations, sources said. The government in last year's Budget added a new clause under Section 43B of the Income Tax Act to address the challenge of delayed payments faced by MSMEs in the country. According to Section 43B(h) of the Income Tax Act, introduced through the Finance Act 2023, if a larger company does not pay an MSME on time -- within 45 days in case of written agreements -- it cannot deduct that expense from its taxable income, leading to potentially higher taxes. MSMEs fear that due to this provision, large buyers could cold-shoulder MSME suppliers and

Union Budget 2024-25: Here are the key challenges in the MSME sector

Unavailability of collateral to raise funding

In the making: Govt plans to launch new portal for all MSMEs queries

MSMEs can access details of all schemes related to the sector on Udyami Bharat

Budget 2024 wish list: RBI to hear demands of MSMEs on Monday

Central bank wants to understand initiatives that may be viable for the sector