Investing in digital infrastructure and the services industry is crucial for India’s future growth, according to Subhash Chandra Garg, Former Secretary, Government of India. Speaking at the seminar on Growth Prospects of Indian Economy 2023-24 organised by PHD Chamber of Commerce and Industry (PHDCCI) on 12 April 2023, Garg highlighted the importance of being realistic…
READ MOREDespite facing a challenging phase, the country’s MSME sector continues to create employment and foster entrepreneurship across the length and breadth of the country, said B B Swain, Secretary, Ministry for Micro, Small and Medium Enterprises (MSMEs). “I don’t think we are very far away from the situation when this sector becomes the largest employment…
READ MORE“India has almost 50 to 60% of their medical expenses as out of pocket expenses compared to a global number of about 18%. And you can just imagine the kind of potential that we have in India today when it comes to health benefits. I think today not only insurance, but a well rounded healthcare…
READ MOREThroughout the pandemic induced lockdowns, online retail presented a resilient channel for MSMEs to maintain business continuity, and consumers to access essentials. The momentum gained through this period, continues to support an increasing number of MSMEs who are able to leapfrog to national and global markets without incurring steep fixed costs associated with logistics and…
READ MORENEW DELHI: Max Life Insurance Company Ltd, on Monday, announced a strategic partnership with the Indian Industries Association (IIA) to provide life insurance plans to the Micro, Small, and Medium Enterprises (MSME) sector’s workforce in Uttar Pradesh (UP). Under the recently announced IRDAI’s State Insurance Plan, Max Life aims to enhance accessibility and drive affordable…
READ MOREFederation of Indian Micro and Small and Medium Enterprises (FISME) hosted the “National Workshop on Growth of Retail & E-commerce in India” to identify the policy obstacles in the way of small businesses and retailers in joining digital retail and e-commerce. The consultation was attended by 40+ delegates representing MSMEs, think tanks, payment service providers,…
READ MOREIndia’s roadmap to being a developed nation by 2047 rests largely on the shoulders of the millions of micro, small, and medium enterprises (MSMEs). With over 63 million MSMEs spread across India, the small businesses contribute nearly 40% to India’s exports, about 6.11% to the country’s manufacturing GDP, and 24.63% to the GDP from services…
READ MORESeventy per cent of MSMEs believe more than half of their retail sales will be via UPI, was the key revelation of the NeoInsights study titled ‘Decoding Digital Payments: A Retailer Perspective’, released today by NeoGrowth, an MSME-focused digital lender in India. The study was based on a comprehensive assessment of NeoGrowth’s customer data set…
READ MOREAditya Birla Capital, the financial services business of the Aditya Birla Group, through its lending arm, Aditya Birla Finance, announced the launch of Udyog Plus, an innovative one-stop business platform, designed for MSME customers. This new B2B digital platform offers a wide range of solutions for MSMEs, including financing, protection, investments, advisory and value-added services…
READ MOREMSMEs are the backbone of any economy, accounting for a large portion of employment, production and exports in most countries. In fact, 33% of India’s GDP comes from the MSME industry — this sector is also responsible for the generation of over 120 million jobs across various industries, all of which contributes to wealth creation….
READ MORE