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Brexit will hit SMEs particularly hard, says VDMA

The withdrawal of the UK from the EU will create new barriers to trade. VDMA is in favour of a customs union with the UK to keep the impact as low as possible.Read more

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

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

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

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

SMEs are the foundation on which industry is built

New opportunities are expected to be unleashed with the government aiming to increase the share of manufacturing in GDP from currently 15% to 25% in a five-year timeframe.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

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

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