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Blockchain tech can resolve inefficiencies in India's current trade finance system
Implementing digital technologies such as blockchain, artificial intelligence (AI), machine learning and robotic process automation can resolve inefficiencies in our current trade finance system, and make the process efficient at the bank’s, buyer’s, seller’s, as well as the SME’s/MSME’s end, noted a recent ASSOCHAM-Deloitte joint study.Read more
Shortage in supply of ‘Carbon Black’ causes crisis in rubber industry
An acute shortage of the Carbon Black –a major raw material needed for the manufacture of rubber products has caused the crisis in Indian non-tyre rubber industry.Read more
Budget 2018: A big booster to SMEs
According to the National Sample Survey’s (NSS) 73rd round, there were around 634 trillion unincorporated non-agriculture MSMEs (micro, small and medium enterprises) in India in 2015-16 providing employment to 111 million workers. Taking into account the significance of MSMEs sector to the country’s economic development, Finance Minister Arun Jaitley announced a list of measures to help MSMEs and job creation in the budget 2018-19.Read more
Change in classification norms for MSMEs to boost growth
The Cabinet’s decision to change the criteria for classification of micro, small, and medium enterprises (MSMEs) from ‘investment in plant and machinery’ to ‘annual turnover’ is likely to give a boost to SMEs sectorRead more
Budget to give boost to MSMEs: IEEMA
Indian Electrical & Electronics Manufacturers' Association (IEEMA) has welcomed the Budget 2018-19 stating that it will give a boost SMEs and help create employment.Read more
Schmersal India wins award for best SME in machine safety
Schmersal India won award for the best SME in machine safety at the Navabharat SME Business Excellence Award 2017 held in Mumbai on October 28, 2017. The Navabharat SME Business Excellence Award 2017, intends to felicitate the achievements in the SME sector to encourage and support the SMEs that have the potential to be world-class enterprises and offer them the platform to promote themselves in partnering for sustainable growth.Read more
Demystifying GST for SMEs
The Goods and Services Tax has been implemented to revive the Indian taxation system. The GST Act was passed in the Lok Sabha on 29th March, 2017, and came into effect from 1st July, 2017. Since law-making and implementing is a process of continuous learning and improvement, it does lead to uncertainties at times and the same is also true for GST. To clear this dust of confusion to some extent with respect to SMEs , IPF conducted a roundtable conference on 30th August at Delhi.Read more
Epicor partners with Redington to grow presence in India and support SMEs
Epicor Software Corporation, a global provider of industry specific software to promote business growth, announced the appointment of a country-wide distributor to accelerate business growth and meet demand for enterprise resource planning (ERP) solutions across India. The partnership will see Redington India, one of the country's largest technology distributors, selecting and training specialist resellers from its network of over 20,000 business partners to grow the Epicor customer base.Read more
Danfoss nextGen high power automation drives for Tami Nadu SMEs
Danfoss Industries Pvt. Ltd., an industry leader in climate and energy efficient solutions, showcased its nextGen high power automation drives – VLT Drive with enclosure size E and the VLT Midi Drive, in Chennai as a part of their ‘Engineering Tomorrow’s India’ initiatives.Read more
Honeywell looks at new business lines, SMEs for India expansion
Honeywell Automation India Limited (HAIL) is a leader in providing integrated automation and software solutions, including process solutions and building solutions. In conversation with Manish Pant, Ashish Gaikwad, Managing Director, HAIL says that the company is keenly eyeing new processes in India’s smart cities programme and railways for future expansion.Read more