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India records 54% jump in engineering goods exports in 9M 2021-22

Thanks to the Zero duty Export Promotion Capital Goods (EPCG) scheme, exports of India’s engineering goods jumped to $ 81.8 billion during April-December 2021 (Provisional) as compared to $ 52.9 billion during same period in the previous year (2020), registering a stupendous growth of 54%, said the Union Ministry of Commerce & Industry in a press release. Engineering goods sector constitutes the largest, more than 27%, share of India’s total exports basket during the period.Read more

Tata Motors to set up vehicle scrapping facility in Maharashtra

Tata Motors, India’s largest commercial vehicle manufacturer, signed a Memorandum of Understanding (MoU) with the Government of Maharashtra, through the Industries, Energy and Labour Department, Government of Maharashtra, with an intent to support setting up a Registered Vehicle Scrapping Facility (RVSF) in Maharashtra. Read more

MSME Ministry launches SCLCS scheme for services sector for tech upgradation

The Special Credit Linked Capital Subsidy (SCLCS) scheme will help in meeting the technology related requirements of enterprises in the services sector and has a provision of 25% capital subsidy for procurement of plant & machinery and service equipment.Read more

GeM and Indian Railways integration to generate Rs 500 bn opportunity for MSMEs

According to Piyush Goyal, after the integration of Government e-Marketplace (GeM) portal with Railways, there will be Rs 500 billion worth of annual procurement from MSMEs.Read more

Piyush Goyal calls for more participants in the Government e-Marketplace

The pilot bidding of railways buyers through integrated system is expected to commence by August end. About Rs 50,000 cr worth of annual procurement may be done by the railways on GeM post the above integration.Read more

Mahindra’s ‘Oxygen on Wheels’ initiative to connect oxygen producers with users

Mahindra has pressed into service 100 vehicles to overcome the transportation bottleneck with safe and quick transportation to deliver oxygen cylinders ‘on demand’ Read more

Emergency Credit Line Guarantee Scheme extended upto June 30

With this extension government has launched new window ECLGS 3.0 for enterprises in hospitality, travel & tourism, leisure & sporting sectors.Read more

Auto industry: Localisation movement needs government support

While there has been huge pressure on automakers and even component suppliers to manufacture fuel efficient vehicles and additionally meet the new challenges of the changing regulations for ICE vehicles, industry is hoping for a support from the government. On one hand it is developing EV ecosystem and on the other the industry meeting new regulatory challenges that government is imposing based on the Paris Pact. Import bans are another issue for component supplies. This makes it mandatory for IRead more

Government deliberates on strengthening manufacturing ecosystem in India

The Investment Clearance Cell (ICC) is being set up to facilitate and support businesses through a one stop digital platform - the National Single Window System. Read more

Nitin Gadkari: Government committed to promote renewable energy for MSME Sector

The Government has set an ambitious target for renewable energy and in particular, solar power generation, for this decade. The target for renewable energy installation is 450 GW by year 2030.Read more

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