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Budget 2021: Infra push to generate demand for manufacturing sector & MSMEs

By allocating Rs 5.54 trillion for infrastructure development, budget 2021-22 aims to generate demand for the manufacturing sector, especially MSMEs. Read, how companies are reacting to the budget. Read more

Budget 2021 aims to rationalise duties; proposes changes to benefit MSMEs

To benefit MSMEs, budget proposes to increase duty on steel screws, plastic builder wares and on certain auto parts. The budget 2021 proposes to review 400 old exemptions in the custom duty structure this year.Read more

First IPF Industrial Excellence Forum (IIEF) lauds innovations in 5 categories

The first IIEF hosted conferences for discussing relevant topics like strategies to move ahead in the new normal and deliberated on SME readiness as manufacturing is growing in India due to the global move from China to India. While during the IPF Awards, the IIEF recognised new product innovations to upholding ‘Make In India’. The IIEF was hosted virtually and received favourable industry responseRead more

MSMEs must grow their appetite for new technology: Ravichandran Purushothaman

Ravichandran Purushothaman, President, Danfoss India, expects more budgetary provisions for this bourgeoning sector, to build an institutional mechanism to implement the technological transformation process pan India and enable the industry to build skill and capacity.Read more

CBIC introduces Liberalised Authorised Economic Operator Package for MSMEs

The scheme aims to attract MSMEs to become Authorised Economic Operators (AEOs) and avail the various benefits. CBIC has relaxed the compliance criteria provided the MSMEs have a valid certificate from their line-Ministry.Read more

Schmersal India decides to move towards railway and defence

While industries are battling to equalise their business to pre-Covid levels, companies are working out strategy to open more avenues to expand their business. In this Video Interaction with Pushkar Oak, Sagar Bhosale, MD, Schmersal India delves into safety gaining prominence in switchgears using new age technologies and Schmersal’s coping mechanism to sustain Covid impact.Read more

Siemens, BMZ, and MSDE launch technical education initiative IGnITE

Indo-German Initiative for Technical Education (IGnITE) aims at developing highly qualified technicians based on the German Dual Vocational Educational Training (DVET) model with a focus to make them industry and future ready. IGnITE aims to help develop around 40,000 skilled workforce by 2024Read more

TNBA urges to stop auctions and strengthen boiler MSMEs

The association demanded the case of MSME NPA units in Tiruchi must be given a special consideration as they provided employment, paid taxes promptly and followed other statutory obligations.Read more

FM announces Rs 2.65 trn stimulus under Aatmanirbhar Bharat 3.0 to boost growth

Emergency Credit Line Guarantee Scheme for MSMEs, businesses, MUDRA borrowers and individuals extended till March 31, 2021 and additional credit up to 20%. Provides Rs 30 billion to boost project exports and Rs 102 billion additional budget stimulus for capital and industrial expenditure.Read more

Extend PLI scheme to MSMEs to boost electronic manufacturing in India: Study

According to a research study of MVIRDC World Trade Center Mumbai, government should reduce the investment limit under the PLI scheme for select electronic components to Rs 200 million from Rs 1,000 million to allow MSMEs to participate in this scheme. Read more

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