How electronics sector can be the next big thing for India MSMEs
Before embarking on anything, it’s always a good idea to look at the opportunities and the problems. Manufacturing in India is a tale of contrasts. We are a population of 1.3 billion, and our tech talent is known across the world. Seventy percent of the 50 most innovative global companies have a research and development…
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Tirupur Exporters Association urge SBI to help MSMEs tide out liquidity crisis
COIMBATORE: The Tirupur Exporters Association (TEA) on Wednesday requested public sector State Bank India (SBI) to help MSMEs tide over the liquidity crisis, as the knitwear sector is passing through a difficult situation due to an unprecedented surge in cotton prices that have more than doubled. The subsequent hike in yarn prices have also doubled…
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Over Rs 7 lakh cr worth projects outstanding in Assam in 3 yrs: MSME report
GUWAHATI: Investment projects worth Rs 7,67,518.72 crore have been outstanding in Assam since 2018-19 against projects valued at Rs 6,49,313.63 crore being implemented in the same period, a new study has found. A report brought out by the MSME Export Promotion Council jointly with knowledge firm BillMart FinTech has revealed that Assam is increasingly emerging…
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Ease of doing business, digitization helped MSMEs grow significantly says PHDCCI survey
India is among the fastest emerging economies in the world. The government has launched various policies that are targeted to boost growth of the industry. One such reform was GST, which aimed to make tax compliance easy and more cost effective through e-filling and by bringing the nation under a uniform indirect tax system. The…
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Vyapar partners with FinBox to offer credit to 900,000 MSMEs
Accounting app, Vyapar, that allows merchants, buyers, sellers, and retailers to raise invoices, has partnered with FinBox. The partnership will enable Vyapar to offer credit to more than 9 lakh businesses that actively use the platform every month and others as they get onboarded on the platform. Founded in 2016, Vyapar enables businesses to raise…
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Clix Group partners with Tezzract to lend Rs 1000 crore to MSMEs
NEW DELHI: Clix Group, a non-banking financial services group with a pan-India presence, has entered into a strategic partnership with Tezzract Fintech Private Limited, to innovate and bring new age solutions for lending to MSMEs in India. Under this partnership Clix aims to lend an additional Rs 1000 crore to MSMEs by the end of…
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Govt approves guidelines for small business cluster development programme for 2021-26 period
NEW DELHI: The government has approved new guidelines of Micro and Small Enterprises Cluster Development Programme (MSE-CDP) for implementation during the 15th Finance Commission cycle – 2021-26, the MSME ministry said on Friday. The scheme aims at enhancing the competitiveness and productivity of micro and small enterprises by undertaking certain interventions. The interventions include setting…
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MSMEs should focus on skill development, global best practices: IMTMA’s Ravi Raghavan
India is home to a vibrant machine tools industry. Part of the capital goods sector, which contributes about 12% to the country’s manufacturing output, the machine tool industry plays a crucial role in propelling the economy. The segment also remains central to the government’s flagship Make in India and Skill India initiatives. With MSME units…
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MSMEs bounced back stronger since onset of COVID-19 pandemic: Study
KOLKATA: Fintech lender NeoGrowth on Tuesday said the MSME sector has emerged “stronger” during the last two years since onset of the COVID-19 pandemic, leveraging the digital payments ecosystem. In its survey, ‘MSME Insight Report 2022’, the non-banking finance company said the small and medium enterprises have been able to “bounce back stronger” with timely…
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Unpaid dues: How state governments could effectively aid MSME through invoice discounting
Micro Small and Medium Enterprises (MSMEs) are the driving force behind Make in India, Vocal for Local, and Aatmanirbhar Bharat initiatives. They are audaciously coping with the supply chain disruptions caused by the covid-19 pandemic and the ongoing Russia-Ukraine geopolitical issues. Invoice discounting or supply chain financing (SCF) is one of the most viable options…
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