Interest equalization rate for pre & post shipment credit for MSME Textile exporters enhanced: Smriti Irani

New Delhi, July 12 (KNN) Government has enhanced interest equalization rate for pre and post shipment credit for exports done by Micro, Small and Medium Enterprises (MSMEs) of textile sector from 3% to 5% from November 2, 2018, said Smriti Zubin Irani, Union Minister of Textiles. In a written reply to Lok Sabha, she said “Benefits … Read more

PMEGP scheme created 5.87 lakh MSME jobs in 2018-19, says Nitin Gadkari

In a written reply to the Lok Sabha, Union Minister for MSME, Nitin Gadkari, presented datarevealing that under the Prime Minister’s Employment Generation Programme (PMEGP), 5.87 lakh micro enterprise jobs were created in 2018-19. A government release quoted him saying that this large number of employment opportunities was created with the use of relatively less capital in the MSME … Read more

New Space India Limited incorporated to tap benefits of ISRO: Sitharaman

A new public sector enterprise, New Space India Limited (NSIL), has been incorporated to tap benefits of the Indian Space Research Organisation (ISRO), said Union Minister Nirmala Sitharaman while presenting her maiden Budget in the Lok Sabha on Friday. “India has emerged as a major space power. It is time to harness our ability commercially. … Read more

Budget 2019: 80 business incubators, 20 technology incubators to be set up in 2019-20

In 2019-20, under Government’s flagship rural entrepreneurship focused ASPIRE Scheme ( A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship), 80 livelihood business incubators and 20 technology business incubators will be set up to produce 75,000 skilled entrepreneurs in agro-rural industries, announced the Finance Minister Nirmala Sitharaman while presenting the Union Budget 2019 in … Read more

Encouraging SMEs in international market: Ministry

Ministry of MSME is implementing Scheme of Fund for Regeneration of Traditional Industries (SFURTI) for making traditional industries more productive and competitive by organizing the traditional industries and artisans into clusters, said MSME ministry release on Thursday. The Scheme envisages providing need-based assistance for replacement of production equipment, setting up of common facility centres (CFC), … Read more

Financial creditors recover more under IBC, says Economic Survey

The Economic Survey said while the sustainable impact of the Insolvency and Bankruptcy Code (IBC) would be known in due course, green shoots had already emerged and some significant benefits of the IBC were visible. “The threat of promoters losing control of the company or protracted legal proceedings is forcing many corporate defaulters to pay … Read more

Customer Relationship Management

Why CRM? In the commercial world the importance of retaining existing customers and expanding business is paramount. The costs associated with finding new customers mean that every existing customer could be important. The more opportunities that a customer has to conduct business with your company the better, and one way of achieving this is by … Read more

Govt to launch portal for marketing of goods by MSMEs, Khadi

The government is in the process of launching a portal for marketing of goods made by MSMEs and khadi industry on the lines of Chinese e-commerce portal Alibaba and USA’s Amazon, MSME Minister Nitin Gadkari said Wednesday in the Lok Sabha. He said the micro, small and medium enterprises (MSMEs) contribute about 29 per cent … Read more

उद्योगांना 40 टक्के बांधकाम सक्तीच्या निर्णयास लवकरच स्थगिती देऊ: उद्योग मंत्री सुभाष देसाई

महाराष्ट्र औद्योगिक विकास महामंडळ (एमआयडीसीने) 21 जून रोजी जारी केलेल्या परिपत्रकानुसार राज्यातील उद्योजकांना त्यांच्याकडे असलेल्या जागेच्या 40 टक्के बांधकाम करण्याची सक्ती करण्यात आली होती. राज्यातील लघू व मध्यम उद्योजकांचे कंबरडे मोडणार आहे, या निर्णयाला राज्यातील सर्व उद्योजकांनी महाराष्ट्र चेंबर ऑफ कॉमर्सचे माध्यमातून विरोध करण्याचा निर्णय घेतला. आज मंत्रालयामध्ये उद्योग मंत्री सुभाष देसाई यांच्यासमवेत महाराष्ट्र चेंबर … Read more

FIEO proposes Export Development Fund for MSMEs in Union Budget

The Federation of India Exporters Association (FIEO) on Tuesday urged the government to announce various measures such as employment-linked income tax benefits and an Export Development Fund with a corpus of 0.5 percent of export value for Micro, Small and Medium Enterprises (MSMEs) in the upcoming Union Budget 2019. For small exporters, it said marketing … Read more