Page 17 - Msmes

Navigating the export maze for MSMEs

Digitisation holds immense potential to revolutionise MSME exports. Digital technologies can streamline exports, reduce costs, expand reach, and enhance operational efficiency

Rajasthan's trade bodies flag increasing production cost concerns

Industries, including firms in the micro, small and medium enterprise (MSME) sector, are finding it difficult to survive the competition due to higher costs compared to neighbouring states

InsuranceDekho records 9-fold rise in policies, targets Rs 200 cr premium

InsuranceDekho wants to be part of the growth wave with the rise of SMEs and MSMEs in the manufacturing sector

Pinaka launchers to missiles, Pune adds to defence industry lineup

Nibe has grown quickly and is seeking a leadership role in organising micro, small and medium enterprises (MSMEs) in the industrial zones around Pune

A promising Budget on India growth story

The continued focus on increased capital investments will result in generation of employment opportunities and thereby growth of the economy

Nabard's Rs 34,490 cr scheme to boost agri, other key sectors: Himachal CM

A credit potential scheme of Rs 34,490 crore has been prepared by Nabard for agriculture, MSMEs and other priority sectors in 2024-25, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu said on Wednesday. The scheme's allocation is 8 per cent higher than the current fiscal, he added. Inaugurating the State Credit Seminar for the financial year 2024-25 organised by Nabard, he said the National Bank for Agriculture and Rural Development has a major role in making Himachal Pradesh self-reliant. "I urge banks to extend their active support in providing loans for proper implementation of schemes so that farmers, horticulturists and youth can avail maximum benefits of these schemes. "As per a Reserve Bank of India (RBI) report, none of the districts of the state falls in the category of 'credit deficient' districts. Although the credit flow in these districts is normal, the loan-to-deposit ratio of the state is 36.39 per cent," the chief minister said in a statement issued here. He

MSME hospitals in the pink of health; revenue, margins to remain healthy

Revenue and margins to remain healthy next financial year, too

Uttar Pradesh's priority sector lending likely to jump 52% in FY25

Against the aggregate credit flow of Rs 3.75 trillion in FY24, the advances of Rs 5.73 trillion will reflect a year-on-year (Y-o-Y) growth of 52 per cent

Nine out of 10 MSMEs expect to make profits this year, says report

Many companies plan to increase hiring and most expect they will need loans

India to grow into a $7 trillion economy by 2030, says PHDCCI report

The analysis is based on lead macroeconomic indicators including the GDP Growth, Export Growth, Gross National Savings, Total Investments, and Debt to GDP Ratio

Maldivian tour operators panic as Indians cancel flight bookings

The Maldivian Association of Travel Agents and Tour Operators (MATATO) has stressed that the Indian market is important to the success of the tourism sector in the Maldives

US small business sentiment up; labour, inflation worries persist

A net negative 25% of businesses reported improved profits in December, a 7 point increase from the month prior, with labor costs continuing to weigh on earnings, the report said

Interim Budget 2024-25: Funds to boost reach on fintech industry wishlist

They hope for provisions to ease financial burden on fintechs and tax-saving benefits to startups

Cong slams govt over impact of Chinese imports on Gujarat steel MSMEs

The Congress on Saturday cited a media report, which claimed that 30-35 per cent of the MSMEs in the stainless steel sector in Gujarat have shut shop, to attack the government over what it said was a "massive flood" of imports from China. Congress general secretary Jairam Ramesh shared the media report on X which quoted Indian Stainless Steel Development Association (ISSDA) president Rajamani Krishnamurti as saying that Indian stainless steel players are bearing the brunt of heavy influx of cheaper Chinese imports, causing almost 30-35 per cent of medium and small businesses in Gujarat to shut shop between July-September last year. Ramesh said, "80% of the nation's MSMEs in the stainless steel sector are in Gujarat alone. Of these 35% shut shop between July and September 2023. Many others are barely managing to survive. The reason? There's a massive flood of imports from China, the country to which the PM has given a clean chit and a country with whom, reportedly, we no longer expres

Honeywell eyes 30% revenue growth from its Impact brand: Ashish Modi

Honeywell is eyeing around 30 per cent revenue growth in the next few years from its Impact brand, which provides sustainable and digital solutions for Indian businesses especially the MSME segment. "Since the last 3-4 years we have been growing at 30 per cent. We will grow at 30 per cent or at high double-digit given the growing Micro, Small and Medium Enterprises (MSMEs) in the country," Honeywell India Country President Ashish Modi told PTI. Pune-headquartered Impact by Honeywell was incubated in 2019, to develop sustainable and digital products that can enable MSMEs to optimise their business operations, boost process efficiency and performance and optimise costs. "When you go to the market, reaching the masses is very different when you want to reach your handful of customers and that's been a big learning. We absolutely wanted to do something meaningful in 'Make in India'... "So we had to think about how we would think about innovation because, again, reaching the masses at t

Tamil Nadu Round Table 2023: Need to make MSMEs future-ready, say experts

Gopal Krishnan CS of Hyundai Motor India announced that the company will open a battery system assembly plant in Tamil Nadu which will cater to 70,000-100,000 units a year

Cyclone Michaung: Life halts as Chennai sees worst rainfall in decades

Cyclone Michaung takes its toll: 5 dead; road, air, rail traffic affected; Foxconn, Pegatron, Hyundai ops hit

Vivad se Vishwas: Govt settles over 43k MSME claims; refunds Rs 700 cr

The government has settled 43,904 refund claims worth Rs 700 crore of MSMEs under the dispute resolution scheme Vivad se Vishwas-I. Under the scheme, MSMEs could claim a refund of 95 per cent of performance or bid security and liquidated damages forfeited by government departments and public sector entities during the COVID-19 pandemic. The scheme, announced in the 2023-24 Budget, opened on April 17, and the last date for submission of claims for relief on the GeM portal was July 31. "A total of 43,904 claims have been settled by the Government of India to the MSMEs under the Vivad se Vishwas scheme. The value is approximately Rs 700 crore right now, that's the amount refunded," Finance Secretary TV Somanathan said. He said about 4,000 refund claims are yet to be decided under the scheme. Somanathan said the scheme has given substantial relief to a number of MSMEs. The relief provided under this scheme was in continuation of the efforts of the government in promoting and sustaini

BSE issues fresh guidelines for SMEs looking to migrate to main board

BSE has put in place fresh guidelines for small and medium enterprises looking to migrate from its SME platform to the main board, whereby the applicant will be required to have a net worth of at least Rs 15 crore for the preceding two financial years. Under the guidelines, the applicant firm needs to be listed on the SME platform for at least three years. Besides, they need to have 250 public shareholders before shifting to the main board. In addition, the SME should have a positive operating profit for at least any two out of three financial years and have a positive profit after tax (PAT) in the immediate financial year of making the migration application to the bourse. "The applicant should have a net worth of at least Rs 15 crore for two preceding full financial years, " BSE said in a circular. Further, the paid-up equity capital of the applicant should be more than Rs 10 crore and the market capitalization should be at least Rs 25 crore. Among other parameters, the applican

ITeS, MSMEs set for stable growth amid global slowdown, shows report

More tailwind is expected from the travel segment, which is poised for double-digit revenue growth, further augmenting ITeS growth