MSME DAY
Only 3% of India’s 62 million business owners have SME insurance: ICICI Lombard’s Anand Singhi
Our focus on end-to-end risk management for MSMEs through various tailored digital solutions makes us different, says Anand Singhi, Chief of Retail and Government Business at ICICI Lombard.
Scheme unveiled to help 500k MSMEs join ONDC
Ministry's initiatives focus on empowering MSMEs, especially micro-enterprises, through various schemes, including Khadi brand rejuvenation and interest subventions. Rajneesh, the development commissioner, highlights the importance of these initiatives for the growth and development of small businesses.
MSME Day 2024: Nasscom Foundation and SME Council launch upskilling initiative for marginalized youth
CEO Nidhi Bhasin leads a collaborative effort to equip marginalized youth with skills for the job market, uniting SMEs to amplify social impact and address the demand for skilled professionals, making a significant collective impact on CSR efforts.
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.
Automating repetitive tasks: AI for invoicing, inventory, and more
World MSME Day: The ability of AI to manage repetitive, time-consuming, and error-prone tasks revolutionizes business operations, resulting in accuracy, speed, and cost savings.
World MSME Day: MSMEs must develop a competitive advantage to operate in the global market: Rajneesh, AS & DC, MSME Ministry
Synopsis: Developing Indigenous technology besides collaborating with global partners is crucial for MSME, says Rajneesh, AS & DC, MSME Ministry.
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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.
IT service exports should start diversifying in AI, cloud computing and data analytics, say industry players
As the IT service exports come out unscathed amidst a turbulent period for the world, industry players believe it’s time the service portfolio spread out.
Aligning business goals and decoding employee behaviour: A modern strategy for MSMEs
Alignment between business goals and employee behaviour is not a one-time effort but an ongoing process that requires continuous attention and adjustment.
Mass entrepreneurship movement: How India's economy is getting reshaped
India's mass entrepreneurship movement, supported by cross-sector partnerships, aims to create 90 million non-farm jobs by 2030.
Industry pitches for tax reduction, rationalisation of duty structure in Budget
During a pre-budget meeting with Finance Minister Nirmala Sitharaman, industry representatives urged for reduced indirect taxes and rationalized duty structures. FIEO's Ashwani Kumar requested extending the Interest Equalisation Scheme for five years. Reliance Industries sought a review of tariffs on Chinese imports, and Nasscom pushed for easing transfer pricing rules.
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.
ET Make in India SME Summit in Hyderabad: Small businesses should adopt modern technology as soon as possible
ET MSME Regional Summit: Hyderabad’s startup ecosystem has come a long way and is now focussed on hi-tech areas such as drone technology and space manufacturing. More and more small businesses should embrace AI and other modern technologies if they want to survive for long.
Strategic insights flourish at ET Make in India SME Summit’s Kolkata Chapter
Stakeholders, including Bengal cabinet Minister for Heavy Industries and MSMEs, Shashi Panja, entrepreneurs from food product companies, and industry spokespersons from across the terrains of tea, tourism, and leather convened to share dive deep into the way forward, spelling out the sectors/areas that demand attention and more.
India’s SME IPOs: From a quiet start to bull run
Ajay Thakur, former Head, BSE SME & Startup, recalls how it was a challenging journey to convince SMEs to get listed and see the benefits that would follow ahead.
MSMEs & green finance: How fintechs can help small businesses adopt sustainability
Small businesses need green finance to offset their environmental footprint. This is the only way to make the domestic industry more climate-friendly.
We empower MSMEs, retailers across India via offerings designed to boost market access, cut costs: Anand Kumar Bajaj, PayNearby
Our model ensures that MSMEs can access the financial tools they need to thrive, while also enabling retailers to expand their service offerings and increase footfalls to their stores, says Anand Kumar Bajaj, MD and CEO, PayNearby.
Shipping delays and disruptions erode profitability of MSMEs: Ketan Kulkarni, Allcargo Group
Extended transit times can result in increased transportation expenses and potential penalties for late deliveries, further straining financial resources, says Ketan Kulkarni, Chief Growth Officer, Allcargo Group.
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.
Breaking boundaries: Payoneer's game-changing approach to global payments for Indian SMBs—insights from Gaurav Shisodia
In an exclusive conversation with EconomicTimes.com, Gaurav Shisodia, Vice President of Payoneer India, delves into how Payoneer’s innovative solutions empower SMBs. Diving deep into the paradigm of cross-border transactions, Shisodia highlights its role in driving global disruption and positioning Indian SMBs for international success.
FISME urges govt to review policies to help faltering MSMEs
The key body representing MSMEs has also sought the government’s intervention in protecting export-oriented MSMEs and tweaking trade policies to reflect the growing contribution of Asia to global GDP.
DoT to undertake MSME survey to push industry 4.0 applications
The Department of Telecommunications (DoT) plans a 60-day survey of MSMEs to aid their adoption of 5G and 6G technologies. The survey aims to understand the challenges MSMEs face in adapting to Industry 4.0 technologies, targeting at least 10 sectors to foster innovation. Proposals are due by June 11, 2024.
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.
We are hoping to be closer to 25% of MSME lending in India in 2-3 years: SIDBI’s Prakash Kumar
Prakash Kumar, DMD, SIDBI explains the various initiatives being undertaken by them to reform the MSME ecosystem and why bringing more micro enterprises within a formal structure is essential to growth.
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.
Maharashtra MSME Defence Expo takes big strides to strengthen MSME’s participation in facilitating India’s defence manufacturing
The Maharashtra MSME Defence Expo showcased equipment to make India self-reliant in the defence sector. It was inaugurated by Deputy Chief Minister of Maharashtra, Devendra Gangadharrao Fadnavis, and featured industry leaders like L&T, Mahindra, Tata, and Munitions India Limited.
Interim Budget 2024: MSMEs want to see execution of policies, express cautious optimism on announcements
Among some of the measures announced include the establishment of a corpus of Rs 1 lakh crore to give interest-free loan for tech-savvy youth to spur innovation.
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