Page 6 - Msmes

Nandan Nilekani's 4 tips for India's economy to hit $8 trn mark by 2035

Outlining key factors for India's economic expansion, Nilekani spoke about the necessary "Big Unlocks" required to accelerate the country's growth rate from 6 per cent to 8 per cent

Progcap offers collateral-free loans of Rs 10 lakh to women-led MSMEs

MSME-focused fintech Progcap on Tuesday said it has launched a programme to offer collateral-free loans of up to Rs 10 lakh to women-led small and medium enterprises in the next three years. The fintech, which is backed by Peak XV (previously Sequoia Capital India), Google and Tiger Capital, among others, seeks to empower 10,000 women-led MSMEs in semi-urban and rural India by FY27, Progcap said in a statement. "Progcap has introduced ProgShakti Development Program, wherein women entrepreneurs can access loans of up to Rs 10 lakh and get certified through capacity-building knowledge sessions helping them grow their businesses," it said. Aligned with the government's 'Viksit Bharat' vision for 2047 and the goal of increasing women's workforce participation to 70 per cent, Progcap's initiative offers customised credit to women-led enterprises and eliminates the need for a male co-applicant while assessing the creditworthiness, Progcap said. Founded by Pallavi Shrivastava and Himanshu

Bengal tops in MSME manufacturing industries in India: CM Mamata Banerjee

West Bengal topped the list in MSME manufacturing industries and also recorded the highest percentage of women-headed establishments in the country, Chief Minister Mamata Banerjee said on Monday. Citing the recently published findings of the 'Annual Survey of Unincorporated Sector Enterprises' conducted by the National Statistics Office (NSO), Banerjee highlighted Bengal's outstanding performance in multiple sectors. "Happy to share that the recently published findings of the Annual Survey of Unincorporated Sector Enterprises' conducted by the National Statistics Office, Government of India, once again establish Bengal's top position in MSME manufacturing industries and, simultaneously, our women's wonderful performance there," Banerjee posted on X. The state recorded the highest percentage of women-headed establishments in the country, at 36.4 per cent, she said. Banerjee added that the state has emerged as the leader in workers engaged in 'Manufacturing Enterprises,' contributing

India's stability fuels global growth, says PM Modi in post-Budget webinar

Prime Minister Narendra Modi highlights India's resilience, calls MSMEs the backbone of growth; announces expanded credit, new export missions, and policy reforms to boost manufacturing

RBI deputy guv Swaminathan J moots empathetic stance for stressed MSMEs

Additionally, he highlighted the need for digital solutions, alternative credit assessment models, and greater participation in platforms like TReDS by lenders to mitigate the funding challenges

Tharoor takes a U-turn: Slams Kerala's startup woes, calls for more MSMEs

Congress leader Shashi Tharoor shared his displeasure about the state's startup ecosystem whose growth is continuing to decline

Outlook positive for MSMEs in security services: CRISIL SME Tracker

Indeed, as margins shrink, the smaller players are exiting, leading to market consolidation

UP Budget 2025-26: Infra, welfare remain Yogi's focus; key announcements

UP Budget 2025-26: In line with Yogi government's previous Budgets, this one also focused on infrastructure, education, health, social security, and economic growth

Increase in MSME financing right step to boost biogas industry, says IBA

Indian Biogas Association (IBA) on Sunday said the proposed increase in MSME financing in the General Budget 2025 is a right step to boost biogas industry. With a strong push for manufacturing, green energy, and digital transformation, this Budget sets the stage for Aatmanirbhar and Viksit Bharat, an IBA statement said. From the standpoint of the fledgling biogas/CBG (compressed biogas) industry, the announced increase to the MSME Credit Guarantee Scheme will significantly benefit the biogas industry, which often faces challenge in securing credit with reasonable terms, it noted. By expanding the credit guarantee cover from Rs 5-10 crore, the scheme ensures easier access to collateral-free loans, thus reducing financial barriers for the CBG developers, it pointed out. Additionally, the revised MSME classification criteria allow for almost 2-2.5 times higher investment and turnover limits as compared to earlier regime. The amendment ensures that now even the larger-capacity CBG ...

MSMEs upbeat about business growth, plan to increase workforce: Survey

Optimism more pronounced in manufacturing and comparatively sedate in trading: SIDBI report

Budget's MSME, manufacturing push boosts paper sector; imports a concern

The Union Budget's focus on manufacturing and MSMEs is expected to boost demand for paper and packaging materials across multiple sectors and bodes well for the growth of the paper industry, a paper manufacturers' body said on Monday. The Indian Paper Manufacturers Association (IPMA) in a statement said the Union Budget lays a strong emphasis on boosting consumption, manufacturing and sustainability, which aligns well with the growth of the paper industry in India. The industry appreciates the government's continued focus on economic growth, which has a direct bearing on the demand for paper and packaging materials across multiple sectors, said IPMA President Pawan Agarwal. The Budget's thrust on the manufacturing sector, including MSMEs, will contribute to increased demand for paper-based packaging, an eco-friendly alternative to single-use plastic, it added. Policy incentives aimed at encouraging recycling, and the use of sustainable raw materials would further strengthen the Pa

I-T relief fuels consumption Budget: FM focuses on agri, MSMEs, exports

FM Sitharaman targets FY26 fiscal deficit at 4.4% of GDP

Budget: Bihar gets the lion's share; tax relief with eye on middle class

The projects for Bihar in Budget 2025-26 add to the Rs 59,000 cr that the FM allocated to the state in July

Hopeful that Budget will offer schemes to aid MSMEs: UCCI president

Mohanty stated that he wants the corporate tax to be further reduced for the MSME sector

MCG scheme for MSMEs to boost investment, manufacturing, exports: Exporters

The launch of a new credit guarantee scheme for the MSME sector covering loans up to Rs 100 crore will help attract more investments, promote manufacturing and boost the country's exports, exporters say. They said that the exporting community's lack of adequate financing for capital investments has long been a challenge for MSMEs, restricting their ability to scale and compete in global markets. On January 29, the government launched the Mutual Credit Guarantee Scheme for MSMEs (MCGS- MSME) with an aim to provide 60 per cent guarantee coverage by National Credit Guarantee Trustee Company Ltd (NCGTC) to Member Lending Institutions (MLIs) for credit facility of up to Rs 100 crore sanctioned to eligible MSMEs for purchase of equipment/machinery, the finance ministry said in a statement. For availing the scheme, the MSMEs should fulfil certain conditions which include that the borrower should be an MSME with valid Udyam Registration Number, loan amount guaranteed shall not exceed Rs 100

What does Union Budget 2025 have in store for India's trade policy?

Since the IES expired on December 31, the commerce department is seeking approval for a slightly modified version of the scheme to cover at least MSMEs

PM Narendra Modi for cutting reliance on import-based supply chain

Odisha's flagship global investors' summit is in its fourth edition and the first under the Bharatiya Janata Party (BJP)-run state government

MSME industry bodies seek RBI support for easier priority sector lending

The official further said that the RBI only partially restored this classification to the extent of Rs. 20 lakh per borrower. Hence, NBFCs funding to MSEs is now restricted

Manipur has highest number of MSME units in northeast: CM Biren Singh

Manipur has the highest number of Micro, Small and Medium Enterprise (MSME) business registrations in the northeastern region, Chief Minister N Biren Singh has said. Singh said that according to the 2018-19 Annual Report of the Ministry of MSME, the state registered 12,438 MSME businesses between 2015 and 2019. The chief minister said that under the leadership of Prime Minister Narendra Modi, the northeastern region is set to become the Growth Engine of New India'. Highlighting that Manipuri people are highly enterprising, Singh said, "The state alone has 12,438 MSME businesses, the highest in the northeast, between 2015 and 2019. Fifty per cent of these businesses are owned by women. Manipur's share in national population is 0.2 per cent while the state's share in MSME businesses is 0.3 per cent, he said. Singh said that the BJP-led state government has taken up various initiatives for the development of Manipur since its formation in 2017. One Family One Livelihood mission was

Uttar Pradesh govt plans e-commerce booster shot for the MSME sector

This strategic move is expected to benefit over 50,000 industrial and manufacturing units of these clusters, administered by the UP State Industrial Development Authority