MSMES FUNDING
Digitalisation will drive the next growth wave for MSMEs: MeitY Secretary
S Krishnan, Secretary of MeitY, says digitalisation is essential for MSMEs’ growth. Therefore, collaboration between MeitY and MSMEs is the need of the hour to spur the segment’s growth using digitalisation.
India's defence exports soar to Rs 21,083 crore, SIDM reports
India's defence sector has achieved record-breaking production and export figures, with Rs 1.27 lakh crore in production and Rs 21,083 crore in exports for FY 2023-24. This growth, driven by the 'Aatmanirbhar Bharat' initiative and strategic government policies, highlights the significant contributions of both public and private sectors. The Society of Indian Defence Manufacturers (SIDM) has played a crucial role in this transformation, advocating for industry interests and fostering innovation. SIDM remains committed to supporting India’s pursuit of becoming a global defence leader.
Interest subvention likely to push energy efficiency among MSMEs
The power ministry has begun discussions on offering interest subvention under the Assistance in Deploying Energy Efficient Technologies in Industries & Establishment (ADEETIE) Scheme for adoption of energy efficient technologies, people aware of the developement said.
RBI tells banks to find ways to bridge the gap between credit and deposit growth
The meeting addressed various banking challenges including credit-deposit ratio, cybersecurity, and digital frauds. Governor Das emphasized the need for robust cybersecurity controls and customer awareness initiatives to curb digital frauds.
Equalisation of interest for MSMEs extended till August 31
The extension of the interest equalisation scheme for MSMEs till August 31 with a total outlay of ₹750 crore disappoints non-MSME exporters and may impact labor-intensive exports and large companies under 410 tariff lines.
Fiscal discipline key to India's growth prospects: Sanjay Nayar
So, we will have to also think about how we channel the energies towards more advanced and more modern techniques and technology, because that is what we need right now.
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.
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.
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.
ETMarkets Smart Talk: We could see tweak in corporate & personal tax to boost consumption in Budget 2024: Samir Bahl
While the expectations on overall economic growth were unchanged, FED committee members increased their inflation forecast for 2024 and 2025 and hence in June 2024, Fed kept the interest rates unchanged at 5.50%.
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.
Global Economic Summit 2024 to empower MSMEs through fintech solutions
India's fintech sector is set to host the 9th Global Economic Summit in Mumbai from August 8-10, 2024, focusing on 'FinTech: Accelerating the Digital Revolution.' The event features support from ONDC, DLAI, and Atal Incubation Centre - RMP, with notable speakers discussing evolving market trends and critical technologies.
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.
MSMEs should build support fund for women to encourage their participation: Lohit Bhatia, Indian Staffing Federation
MSMEs should work towards increasing female workforce participation by making structural changes to their ecosystem, says Lohit Bhatia, President, Indian Staffing Federation (ISF).
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 Jaipur-based AU Small Finance Bank plans to plug a $400 billion credit gap
India’s largest small finance bank has recently bulked up and is now looking to utilise its heft to increase its presence in MSME lending. How successful would it be, is the billion-dollar question.
Cross-border payments platform BriskPe raises $5 million seed funding from PayU
Fintech Briskpe will use the capital to strengthen its product and service offerings, build up its team, and scale its reach to enable more Indian businesses to set off on their global journey with seamless cross-border payments.
Need dedicated commercial bank to ease credit flow to MSMEs: Industry body to govt
The Federation of Indian Micro and Small & Medium Enterprises (FISME), which represents about two million MSMEs in the country, has in a submission to the government also suggested setting up an equity guarantee fund trust to cover the risks related to equity financing for the sector.
L&T Finance signs $125-million pact with JICA to aid farmers and women entrepreneurs
L&T Finance Holdings Ltd has signed pact with JICA and Asia Development Bank for $125 million to fund marginal farmers, women entrepreneurs, women borrowers, MSMEs, two-wheeler loans, and provide formal access to credit in rural and semi-urban India, supporting the Indian economy and addressing poverty reduction.
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