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Manoj Mittal appointed as Chairman and Managing Director of Sidbi
Mittal brings over 33 years of experience in the financial services sector to this role. Read more
Budget 2024 to boost India’s manufacturing industry
The Budget has strategically prioritised the manufacturing sector along with the infrastructure, employment and skilling development. Read more
India's manufacturing jobs rose by 200% from 2022-2024
The services sector including IT and non-IT industries, still remains the largest job creator in India. Read more
SIDBI to create $1 billion green financing fund with $215 million aid from GCF
The GCF, an entity established by the United Nations Framework Convention on Climate Change (UNFCCC), approved a $200 million loan and a $15.6 million grant for capacity building to support SIDBI’s initiative.Read more
49,000 MSMEs shut down in 10 years rendering 300,000 people jobless
According to the Ministry of Labour and Employment, the estimated unemployment rate for people aged 15 years and above was 4.2% in 2020-21, 4.1% in 2021-22, and 3.2% in 2022-23.Read more
Government to develop parks and dormitories near manufacturing clusters
Twelve industrial parks under the National Industrial Corridor Development Programme will also be sanctioned, with significant progress already in Uttar Pradesh and Tamil Nadu. Read more
Seven key announcements for MSMEs in Budget 2024
These budgetary measures are pivotal in ensuring the long-term prosperity of MSMEs in India.Read more
Union Budget bolsters the manufacturing industry and MSMEs
MSMEs contributed 35.4% to all-India manufacturing output in FY 22, and MSME-made products accounted for 45.7% of exports in FY 24.Read more
Budget 2024-25: Analysis of Budget impact on MSMEs
The budget places special attention on MSMEs and labour-intensive manufacturing, introducing a new assessment model for MSME credit by public sector banks based on digital footprints rather than only on assets and turnover criteria. Read more
Budget 2024-25: 8 measures in support of MSMEs
The FM said that the Government has formulated a package that covers financing, regulatory changes and technology support for MSMEs.Read more