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North-East industrial development policy to incentivise MSMEs

In order to promote employment in the North East States and incentivise the MSME (micro, small & medium enterprises) sector, the Union Cabinet has approved the North East Industrial Development Scheme (NEIDS), 2017 with financial outlay of Rs 30 billion up to March, 2020.Read more

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

Proposal to amend the classification of MSMEs gets green lit by the Union Cabinet

The Union Cabinet has approved the Ministry’s proposal to amend the Section 7 of the Micro, Small and Medium enterprises Development (MSMED) Act, 2006 to change the criteria of classification of MSMEs from ‘investment in plant & machinery/equipment’ to ‘annual turnover’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

Relief for MSME borrowers registered under Goods and Services Tax (GST)

Presently, banks and NBFCs in India generally classify a loan account as Non-Performing Asset (NPA) based on 90 day and 120 day delinquency norms, respectively. Read more

EEPC India-NID join hands to scale up product design for engineering exports

The EEPC India is taking a major initiative for scaling up the country's engineering exports by improving product design and innovation with the help of the Ministry of MSME and the National Institute of Design (NID).Read more

Four banks join Invoicemart TReDS platform to facilitate MSME suppliers

Four leading banks - Standard Chartered Bank, Allahabad Bank, Vijaya Bank and Yes Bank, have joined the digital invoice discounting platform Invoicemart - promoted by A. TREDS Ltd (a joint venture between Axis Bank Ltd and B2B e-commerce company Mjunction Services Ltd).Read more

YES Bank partners FTAPCCI to empower MSMEs to ‘scale-up’

YES Bank, India’s fourth largest private sector bank, launched a knowledge series on February 20, 2018 for top executives and promoters of micro, small and medium scale enterprises (MSMEs) in Hyderabad, in partnership with Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) to help local entrepreneurs scale their businesses to global audiences and gain competitive advantage.Read more

GST had a positive impact on the businesses' logistics, observed FICCI

FICCI conducted a survey of enterprises post the implementation of GST in the months of November 2017 to January 2018 to have a reality check of various issues being faced by the industry with the transition to GST regime. Both MSME and large corporates have participated in the survey and shared their first-hand experiences with GST implementation in the first six months since its implementation.Read more

New MSME classification to create a level playing field: FICCI

FICCI has welcomed the Central Government's decision to change the criteria of classification of micro, small and medium enterprises (MSMEs) from ‘Investment in plant & machinery and equipment’ to ‘annual turnover’.Read more

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