MSME 2023
UP cabinet passes draft of UP NIRMAN Bill-2024 to attract investors
The Uttar Pradesh government passed the draft of the Uttar Pradesh Nodal Investment Region for Manufacturing (Construction) Area Bill (NIRMAN)-2024 in a bid to boost the state's economy to one trillion dollars. The bill aims to create Special Investment Regions (SIRs) to attract big investors. The decision will promote economic development, ease of doing business, and create new job opportunities. Additionally, the cabinet approved a proposal for a Memorandum of Understanding between ITPO and MSME to encourage industrial investment.
Interest equalisation scheme for exporters extended for 2 months; FIEO disappointed
The scheme helps exporters from identified sectors and all MSME manufacturer exporters to avail of rupee export credit at competitive rates at a time when the global economy is facing headwinds. Exporters get subsidies under the Interest Equalisation Scheme for pre and post-shipment rupee export credit.
World MSME day: Retail investors need greater access to SME IPOs, regulatory process tightened
MSME Day 2024: Regulatory overhaul to boost retail participation in SME IPOs needed, says Rahul Bhutoria, Director, and Founder, Valtrust.
MSME Day 2024: Participation of women in MSMEs increases but challenges remain
MSME Day 2024: While the role of women has increased significantly in India’s MSME set-up, certain challenges remain which need to be soon addressed. Notably, the women-led MSMEs play a critical role in this set up. They contribute significantly to employment and investment.
Tighter regulations are for the greater good of fintech ecosystem, not obstacles, say industry leaders
India’s fintech sector has been bearing the brunt of strict regulations by the RBI, which has also led to investors losing confidence in the startups. However, industry leaders believe these regulations will only make the ecosystem stronger.
How MSMEs can boost India's real estate market
With streamlined regulations and increased credit access, MSMEs have the potential to boost India's real estate sector.
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Brain 'drain' turning to 'gain', India Inc should step up: HUL Chairman
HUL chairman Nitin Paranjpe discussed the importance of retaining talent in India and mentioned the rising trend of 'brain-gain' during the company's annual general meeting.
ESG consultancies and services on the rise as companies rush to get sustainability tag
Emerging consultancies and ESG services companies have a lot of opportunities but struggle due to lack of awareness and data.
Creating an Export Development Fund is crucial for the MSME ecosystem: FIEO’s Ashwani Kumar
A budgetary support equivalent to 1% of preceding year’s export value should be made available every year through the budget grant to the Department of Commerce, he says.
Namdev Finvest's assets under management cross Rs 1,200 cr-mark in FY24
Namdev Finvest, a non-banking financial company specializing in small business lending, reported significant growth in its assets under management (AUM), which nearly doubled to over Rs 1,200 crore during the fiscal year 2023-24. The Jaipur-based company witnessed a remarkable 92.62 percent increase in AUM, reaching Rs 410 crore in net worth. Operating across eight states in northwest India, Namdev Finvest expanded its presence and received funding totaling USD 41.5 million, including a recent USD 19 million investment from Maj Invest in its Pre-Series C round.
New MSME payment clause in I-T Act: Supreme Court tells traders to move HC
On Monday, the Supreme Court declined to address a plea filed by various traders' associations contesting the legality of Section 43B(H) within the Income Tax Act. This section mandates that businesses settle their outstanding payments with micro, small, and medium enterprises (MSMEs) within 45 days to avail tax benefits.
India’s defence production is $13 bn and growing, and MSMEs are providing the tailwind
The government’s push for indigenisation in defence has encouraged smaller players to get into the game and reduce India’s dependence on imports.
How GST ensured fast credit growth to MSMEs
In January 2024, credit to the industry expanded by 7.8% y-o-y, down from the 8.7% growth recorded in January 2023.
How do you make 6.3 crore MSMEs globally competitive? A scheme takes a shot
The Zero Defect Zero Effect Scheme has helped small manufacturers get wider recognition in domestic and international markets. But the scheme needs more publicity and involvement of domain experts to realise the ‘Make in India’ goal — especially as a similar scheme for services is on cards.
MSME fintechs steal show as consumer lending loses fizz
All these years, digital lending has been mostly synonymous with unsecured consumer credit. But that is slowly changing. Business-focused fintech lenders are increasingly grabbing the limelight with more traditional lenders opening up to work with them.
SIDBI ET MSME Conclave: Fourth session to be held in Belagavi with focus on holistic MSME expansion
After three successful sessions, SIDBI ET MSME Conclave is all ready to enter Belagavi with an aim to help MSMEs connect with peers, stakeholders and senior officials.
SIDBI ET MSME Summit: Belagavi’s hydraulic industry needs tech advancement, logistics improvement
While Belagavi has remained at the forefront of industrial growth in India over the past many years, better air connectivity and easier availability of latest technology can help it grow faster.
If any country can chip in for China, it is India: FIEO’s Ajay Sahai
Exports can be transformational for the nation as it aims to transition from developing country to a developed economy, Sahai stated.
ET MSME Awards 2023: Make in India shouldn’t be assembled in India, sold in rupees: Girish Mudgal, Timetooth Technologies
While India is seeing its deetech and hi-tech sectors evolving at a brisk pace, a lot more investment and increased focus on indigenous designing is needed.
MSMEs’ share in exports 45.56% till Sept’23: Govt to Parliament
The share of MSME products in India's exports increased from 43.59% in FY23 to 45.03% in FY22, with a growth from 49.35% in 2020-21 to 49.77% in 2019-20. The share of MSME manufacturing gross value added (GVA) in India's manufacturing GVA also increased from 40.3% in FY21 to 40.83% in FY22. The number of MSMEs registered in India has reached 3.16 crore, with an employment record of 15.5 crore as of December 6, 2023.
ET MSME Awards 2023: Announcing the 27 winners of India’s most comprehensive and influential MSME awards
The grand finale and felicitation ceremony in New Delhi earlier today unveiled the recipients of all 26 awards for the ET MSME Awards 2023-24.
ET MSME Awards 2023: Shipping ministry working tirelessly to strengthen trade, says Sonowal
Lauding the economic benefits created by Indian MSMEs, Union Minister Sarbananda Sonowal highlights their role in nation building, at ET MSME Awards 2023.
ET MSME Awards: Winners set to be revealed at today's Grand Finale and Award Ceremony in New Delhi
The Grand Finale and Felicitation Ceremony of the ET MSME Awards 2023-24, happening today in New Delhi, will reveal the winners of India’s most influential MSME awards. The event will honour and acknowledge Indian MSMEs for their outstanding business excellence and remarkable contributions to the country’s socio-economic growth.
ET MSME Awards 2023: Unveiling the nominees of India’s most comprehensive MSME awards
Discover the comprehensive list of nominees contending for all 26 awards as part of the ET MSME Awards initiative. The winners for the ET MSME Awards 2023 will be revealed at the grand felicitation ceremony set to take place on December 8, 2023, in New Delhi.
ET MSME Awards Grand Finale 2023: Honouring the best among Indian MSMEs in New Delhi on December 8
Mark your calendars for December 8, 2023, as New Delhi becomes the venue for the Grand Finale of the ET MSME Awards 2023. This prestigious event celebrates and honours the entrepreneurial brilliance and significant contributions of Indian Micro, Small, and Medium Enterprises (MSMEs) to the nation's socio-economic landscape.
ET MSME Awards 2023: Union Minister Narayan Rane to be chief guest at felicitation ceremony
The minister will deliver a keynote speech and reward some of India’s top MSMEs on their achievements in a mega event.
ET MSME Awards 2023: Winners to be rewarded on December 8 in a mega event
After months of deliberation and shortlisting, the ET MSME Awards 2023 is ready to celebrate the achievements of India’s top MSMEs.
ET MSME Awards 2023: Experts unveil the path for MSMEs in crafting India's manufacturing success from local to global triumph
The ET MSME Awards 2023 serves as a beacon, illuminating and honouring these unsung heroes for their exceptional contributions. Know more about its upcoming fourth edition
ET MSME Awards 2023: Experts decode strategies for boosting exports and navigating global trade challenges for SMEs
As part of the ET MSME Awards 2023 - Jury Dialogues, K Rama Devi, Founder of ALEAP, and Dr. HP Kumar, Director of External Affairs at Power2SME share insights on empowering India's MSMEs for global success, navigating international trade challenges, boosting exports, and competing on a global scale through market intelligence, financial support, infrastructure development, and more.
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