MSMES DIGITALISATION
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.
View: Your first 100 days to-do list, Gov
The upcoming government will have its work cut out for it as it steps into power following the conclusion of the 18th Lok Sabha polls. While the current administration has made strides in improving the business environment in India, there are key reforms that the new government must prioritize to fully capitalize on the country's growth potential.
How digitisation is helping MSMEs improve customer management
Digitising various aspects of MSME operations is essential for driving growth, enhancing efficiency and staying competitive in today’s global marketplace.
Tech takes the wheel: Revolutionising logistics and customer convenience
Satista reports that by 2026, global digital transformation spending is expected to reach $3.4 trillion. Logistics companies can streamline logistics operations while obtaining real-time insights, optimising routes, enhancing warehouse management and improving overall efficiency.
India is on a path of digitalisation that is different from China and US: Soumitra Dutta, Dean of Said Business School
It’s time India starts focusing on developing a truly world-class AI infrastructure in the country to reap its dividends, says the Dean of Oxford University's Said Business School.
Digitally integrated firms have higher turnover, profitability and employee share: Survey
The survey shows MSMEs will benefit greatly by embracing digital technologies, particularly in e-commerce.
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Unclog the credit lines: Nurture MSMEs to empower India's economic growth
As India moves ahead with confidence and aspires to be a developed nation by 2047, MSMEs will have to play a significant role in achieving broad-based growth.
Data Protection Board to come up within 30 days: MoS IT Rajeev Chandrasekhar
Under the DPDP Act, a DPB consisting of a chairperson and members appointed by the central government, will be set up. On receipt of an intimation of personal data breach, the DPB can direct any urgent remedial or mitigation measures, and inquire into such breach, and impose penalty as provided in this Act.
Women-run MSMEs avail over Rs 400 cr of loans in FY23: Report
Women-run micro, small and medium enterprises (MSME) have availed loans worth Rs 430 crore, accounting for 24 per cent of the overall loans disbursed to MSMEs in FY23, highlighted the NeoGrowth Impact Report 2023. The report said that more than 2600+ women-owned MSMEs availed business loans in the last fiscal year. NeoGrowth is an MSME-focused digital lender in India, leveraging the digital ecosystem.
Backed by IFC, Bizongo aims to digitise supply chains
For small businesses, adopting technology is the way forward to remain competitive, but financial burden and lack of awareness can easily set them back.
RRBs need to focus on digitally active customers to promote greater digitalisation of economy: FM Nirmala Sitharaman
While chairing the review meeting, the finance minister asked RRBs to continue their focus on the flagship schemes of the central government like Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, PM SVANidhi, Atal Pension Yojana, PM Jan Dhan Yojana, PM Mudra Yojana, Kisan Credit Cards (KCC), KCC Animal Husbandry & Fisheries, etc. and aim for their saturation.
Workforce formalisation: GAPS framework shows the way to successfully formalise the workforce
The Covid-19 pandemic has highlighted the plight of India's informal sector and has underscored the urgent need for workforce formalisation. Over 80% of the Indian workforce operates under informal employment conditions, which is a barrier to India's economic potential. By pushing the workforce into the formal sector, companies can boost productivity, offer social security and bring down income disparity.
MSME Day 2023: Narayan Rane calls for digitalisation to help small businesses become resilient
The minister spoke about MSMEs being the backbone of India’s economy and how they can play an intrinsic role in India achieving its ambitions of a developed nation by 2047.
ET MSME Day 2023 Virtual Conclave: Key industry stakeholders to discuss strategies to make MSMEs future-ready
The fifth edition of ET’s flagship initiative ET MSME Day 2023 Virtual Conclave is scheduled to be held on June 27, celebrating World MSME Day. With the theme ‘Future-ready MSMEs for India@100,’ ET MSME Day 2023 Virtual Conclave will bring together key policy-makers, MSMEs, industry leaders, and stakeholders for deliberations, knowledge-sharing, and actionable ideas to catalyse the growth of a globally competitive MSME industry.
From Nordic countries to Japan, everyone wants India’s tech services
Technology played a huge part in saving businesses in the last few years of severe disruptions. It is also going to play a crucial part in economic growth. What does that mean for a country like India, which houses a large arsenal of tech firms of all sizes?
Digitalisation and sustainability, two mega trends we are betting big on: Honeywell's Ashish Gaikwad
Honeywell India offers a portfolio of futuristic technologies to help businesses to reduce GHG (greenhouse gas) emissions, save energy, measure and reduce carbon impact.
Travel comeback boosts hotel & luggage segments: 5 stocks with up to 39% upside potential
Rising demand, policy support and mega events to support the performance of hotel and luggage stocks.
Deep diving into various elements of manufacturing processes : 2nd week of ET’s Digital Transformation Program for Manufacturing
The ET's Manufacturing Excellence Through Digital Transformation Program is a two-week course that aims to help small and medium-sized businesses (SMEs) upgrade themselves to Industry 4.0.
Budget to help MSMEs power growth and employment: CareEdge
The infusion of Rs 9,000 crore in the corpus of Credit Guarantee Scheme for MSMEs will enable additional collateral-free guaranteed credit of Rs 2 lakh crore and reduce the cost of credit by about 1%. Under Vivad se Vishwas I, 95% of the forfeited amount relating to bid or performance security is to be returned by the government in case of failure by MSMEs to execute contracts during the Covid period.
Union Budget: Continuation of credit guarantee relief for MSMEs
"Support to the MSME sector along with enhancement of credit guarantee scheme will provide much-needed relief to the sector," said Chandra Shekhar Ghosh, MD, Bandhan Bank.
M1xchange launches new platform to help MSMEs avail easy liquidity
The International Financial Services Centers Authority (IFSCA) has granted a license to M1NXT (Mynd IFSCA P LTD) to set up International Trade Finance Services (ITFS) platforms.
ET Rise World MSME Day 2022: Experts discuss on building self-reliant MSMEs
The event saw various panel discussions on understanding how technology, leadership, policies, skills and the entire ecosystem need to develop new capabilities and be prepared for a new world.
E-commerce, digital transformation keys for growth of MSMEs
Despite the Covid shock, MSMEs that integrated with e-commerce platforms experienced an increase in sales, turnover, and profits.
L&T launches new B2B e-commerce platform SuFin
The platform will sell a selection of industrial products across over 40 categories as well as financing and logistics support. It will ensure last-mile delivery to over 15,000 pin codes, the company said.
Rapid digitalisation drives B2B ecommerce during pandemic
As traditional supply chains that served Indian businesses dried up amid Covid-imposed restrictions, well-capitalised B2B ecommerce players grabbed the market by coming to the aid of raw material-starved businesses.
Credlix acquires NuPhi, grows supply chain financing business to $100 million
NuPhi is a Singapore based fintech company offering invoice factoring solutions to MSME exporters in India and SouthEast Asia.
Digitalisation helped SMEs gain new customers, increase transactions amid pandemic: Survey
Among the small businesses selling online, 61 per cent are doing so via e-commerce platforms while 31 per cent are doing so via their own websites and apps.
Need to ensure India is recognised as a quality conscious nation at global level: Piyush Goyal
"We must work towards ensuring India's recognition at the global stage as a quality conscious country, as a country with which people can do business with the confidence that they will get what we say, they will receive what they require. And they can be assured that an Indian product is a high quality product," the Food and Consumer Affairs Minister said.
Tax policy changes to boost post Covid-19 economic recovery
Stable and clearer tax provisions, supported by a neutral approach to tax administration, should help improve investor sentiment towards doing business in India.
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