Walmart India to empower 50,000 MSMEs to be part of global supply chain
American retail giant, Walmart, has always expressed its commitment towards India through its support to the large Indian MSME community from which it sources not just for its cash & carry and ecommerce (Flipkart) businesses, but also for its global outsourcing arm that supplies to the US, Canada, UK, Mexico, Central…
MSME Ministry to announce new scheme on entrepreneurship for disabled persons: Nitin Gadkari
New Delhi, Mar 3 (KNN) Union Minister of Micro Small and Medium Enterprises (MSMEs), Nitin Gadkari has said that the MSME Ministry will soon announce a new scheme on entrepreneurship and skill training for disabled persons. While speaking at the inauguration of “EKAM Fest”, on Monday, Gadkari said, “I assure you…
70,000 firms ready to deal with virus crisis
NEW DELHI : More than 70,000 companies on Monday told the ministry of corporate affairs (MCA) that they have implemented the work-from-home policy and are prepared to deal with the Covid-19 crisis. The companies, which have filled a compliance form issued by the ministry, include most large corporations, said a government…
NHRCL distributes Sewing Machines to 23 Women on the eve of Women’s Day
On March 8, 2020, on the occasion of International Women’s Day, NHSRCL distributed sewing machines among 23 women from Chenpur and Ropda villages in Ahmedabad who successfully completed the Sewing and Tailoring training programme under the Income Restoration Plan. Over 100 beneficiaries and their families were a part of the…
MSME Ministry creates awareness about “Build the Enterprise of Your Dreams” in Arunachal Pradesh
Itanagar, Feb 26 (KNN) Ministry of Micro Small and Medium Enterprises (MSMEs) has organised a day-long awareness programme on “Build the Enterprise of Your Dreams” at North East Regional Institute of Science and Technology (NERIST). The objectives of the programme was to promote and support untapped creativity of individual and to…
PMI: India’s services sector growth hits 7-year high of 57.5 in February
The services sector continued to ring in the good times in February as an uptick in exports and rising new orders resulted in growth touching a seven-year high, according to a monthly survey released on Wednesday. The widely tracked Nikkei India Services Purchasing Managers Index (PMI) stood at 57.5 in February,…
Be job makers instead of seekers: MSME officials
The entrepreneurship cell of the PCTE Group of Industries organised a national-level awareness programme (NLAP 2020) with the aim to motivate the youth for entrepreneurship and make them ‘job providers instead of job seekers’. The programme was conducted by the officials of the Ministry of Micro, Small and Medium Enterprises…
MSME sector has helped boost Chhattisgarh and generated employment
Apart from contributing to India’s Gross Domestic Product (GDP), the Micro Small and Medium Enterprises (MSMEs) are also flourishing states like Chhattisgarh by generating a large number of employment opportunities. According to the National Sample Survey conducted by Government of India’s MSME Ministry, the state presently has nearly 8.48 lakh…
CSC e-Governance to take MSME Ministry schemes to rural India
The MSME Ministry and e-governance services delivery arm CSC SPV have signed an agreement to promote schemes run by the ministry in rural areas. “Only CSC has potential to create grassroot entrepreneurs. Our CSCs are itself small enterprises. Like other government programmes and schemes, we will help MSME Ministry in…
RBI extends one-time restructuring scheme for MSME loans
After Finance Minister Nirmala Sitharaman, while presenting Union Budget 2020 on 1st February, said the government has asked the Reserve Bank of India (RBI) to extend the debt restructuring window by another year ending March 31, 2021, RBI in its Monetary Policy Review Meeting today said that it would be extending the…
RBI manna for MSME sector can spur demand, says CRISIL SME Tracker
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) at its February 6 meeting made several announcements to spur credit flow to the micro, small and medium enterprise (MSME) sector. First, the Union Budget for 2020-21 had extended the option of one-time restructuring of MSME loan accounts without classifying…
Govt cuts corporate tax rate to 22%, relief on buyback tax
The finance ministry lowered the corporate tax rate to 22% for firms that do not avail tax incentives. New manufacturing companies will have to pay an even lower corporate tax rate of 15% Listed companies announcing share buybacks before 5 July to be exempt from buyback tax New Delhi: The…
MSMEs need not use IBC to recover dues
Taking the route the MSMED Act provides is faster, easier and can be enforced through decree One of the most talked of laws in recent years has been the introduction of the Insolvency and Bankruptcy Code, 2016, which has given stakeholders the power to take a defaulter (company/LLP) to the…
Govt to soon decide on Sinha panel report on MSME sector: Nitin Gadkari
On UK Sinha panel report, the minister said he has spoken to the finance minister and it has been decided that finance secretary and his MSME counterpart will prepare a final report on the recommendations in the next eight days. The government will soon take a call on the recommendations…
MSME Sector Needs Out-Of-The-Box Thinking, Says Gadkari About Bharat Craft Platform
Bharat Craft is the government’s ecommerce platform modelled around the e-marketplace Nitin Gadkari earlier said the portal can bring about INR 10 Lakh Cr. turnover to MSME sector Amazon and Flipkart has also launched dedicated portals to sell Indian handicrafts India’s minister of micro, small and medium enterprises (MSMEs), Nitin…
Nitin Gadkari promises ‘concrete decision’ for timely payments to MSME
Speaking at a convention of ‘Laghu Udyog Bharti’, an RSS-linked outfit which works in MSME sector, he also promised to rid the national capital of pollution in five years. Delayed payments is a major headache for Micro, Small and Medium Enterprises, Union MSME minister Nitin Gadkari said on Saturday, adding…
Mohan Bhagwat bats for small and medium scale industries, financial freedom
“The first condition for attaining financial freedom for all is that every person should become self-sufficient. Those who are not self-sufficient do not have freedom,” he said. Small and medium scale industries can make people financial independent and not the big corporations, RSS supremo Mohan Bhagwat said here on Friday….
NITI Aayog invites nominations for Women Transforming India Awards
NITI Aayog, the premier think tank of the Government of India, has launched the Fourth Edition of Women Transforming India (WTI) Awards, in collaboration with the United Nations in New Delhi today. UN Resident Coordinator in India, Ms. Renata Lok-Dessallien, opened the nomination process for WTI Awards 2019, in the…
Gadkari, MSMEs complain of poor disbursal under 59-minute loan scheme
NEW DELHI: Micro, small and medium enterprises (MSME) minister Nitin Gadkari and small businesses on Tuesday complained about the 59-minute loan scheme being slow in disbursing loan, while asking FM Nirmala Sitharaman to ensure that their dues from the government are cleared expeditiously. Gadkari flagged both the concerns during a meeting convened by FM…
Hedge funds make a comeback in India; bet on 25 start-ups this year
Deal volumes similar to 2014, half of 2015, and thrice the deal volume in 2016 and 2018 Hedge funds, which led the start-up funding boom in 2015, are making a comeback, after taking a pause for a few years. And, it is not just Tiger Global, which has invested in…
24×7 Neft transfer from Dec ember to boost digital play
New Delhi: Taking a series of steps to boost the adoption of digital payments, RBI on Wednesday said the National Electronic Funds Transfer (NEFT) facility will be available 24×7, the scope of utility bill payments will be expanded, and more players will be encouraged in the retail payment space. Beginning December, online payments…
स्टीलबर्ड कंपनी काश्मीरमध्ये फॅक्ट्री उघडणार
नवी दल्लीः जम्मू-काश्मीरला विशेष राज्याचा दर्जा देणारे कलम ३७० रद्द करण्याचा निर्णय केंद्र सरकारने घेतल्यानंतर देशभरातून या निर्णयाचे स्वागत करण्यात येत आहे. या निर्णयानंतर जम्मू-काश्मीरमध्ये जमीन खरेदी करण्याला, व्यापार करण्याला इतर राज्यातील लोकांना परवानगी मिळणार आहे. आशियातील सर्वात मोठी हेल्मेट कंपनी स्टीलबर्ड हायटेकने जम्मू-काश्मीरमध्ये कारखाना उघडण्याची इच्छा बोलून दाखवली आहे. स्टीलबर्ड…
काश्मीरमध्ये मिळणार गुंतवणुकीची संधी, बांधकाम व्यवसायिक उत्सूक
जम्मू काश्मीरला विशेष राज्याचा दर्जा देणारे कलम ‘३५ ए’ आणि ‘३७०’ हटविल्यानंतर बांधकाम क्षेत्रातील कंपन्या आता तेथे गुंतवणुकीसाठी संधी शोधत आहेत. त्याचमुळे देशातील रिअल इस्टेट क्षेत्रात कमालीचे उत्साहाचे वातावरण पसरले आहे जम्मू काश्मीरला विशेष राज्याचा दर्जा देणारे कलम ‘३५ ए’ आणि ‘३७०’ हटविल्यानंतर बांधकाम क्षेत्रातील कंपन्या आता तेथे गुंतवणुकीसाठी संधी…
कर्ज घोटाळ्यात ईडीच्या धाडी; ४८१ कोटींच्या मालमत्ता जप्त
नवी दिल्ली : कोट्यवधी रुपयांच्या कर्ज घोटाळ्याप्रकरणी अंमलबजावणी संचालनालयाने (ईडी) गुरुवारी बासमती तांदूळ प्रक्रिया उद्योगातील आघाडीची कंपनी आरईआय अॅग्रो लिमिटेडच्या तळांवर छापे मारले. या छाप्यांत कंपनीच्या ४८१ कोटी रुपयांपेक्षा जास्त किमतीच्या मालमत्ता ईडीने जप्त केल्या आहेत. ईडीने कंपनीविरुद्ध मनी लाँड्रिंग प्रतिबंधक कायद्यान्वये हंगामी जप्ती आदेश काढला होता. त्यानुसार, ही कारवाई करण्यात आल्याचे…
Nirmala Sitharaman to meet stakeholders for actions proposed by U.K. Sinha Committee to boost MSMEs
Finance Minister Nirmala Sitharaman will meet with the concerned stakeholders within the next week to finalise decisions to be taken and timelines for action required with respect to the Expert Committee on MSMEs Finance Minister Nirmala Sitharaman will meet with the concerned stakeholders within the next week to finalise decisions…
Govt softens stance on time frame for transition to electric vehicles
The change in stance follows a strong opposition by automakers of the proposed government plan to ban two-wheelers (below 150cc) and three-wheelers by 2023 and 2025, respectively The government seems to have softened its stance on the time frame for transition to electric vehicles (EVs). The Ministry of Heavy Industries,…
India readies plan for $4 billion Tesla-scale battery storage plants
India will need 6 gigawatt-scale plants of 10GWh each by 2025 and 12 by 2030 Apart from EVs, such battery storages will cater to the consumer electronics industry and electricity grids, given the intermittent nature of electricity from clean energy sources New Delhi: India is putting the final shape on…
Cash-strapped developers offer barter deals to construction firms
Builders offer unfinished apartments instead of cash to contractors as liquidity crunch hurts both parties Paradigm Realty has accepted 160 flats instead of cash in Zenith Residences project, Thane MUMBAI: Barter is back in fashion in real estate as cash-strapped developers offer unfinished apartments instead of cash payment to their…
Postal dept decides to convert India Post Payments Bank to a SFB
India Post will partner with Common Service Centre to provide a suite of citizen centric services such as banking, remittance, insurance, DBT, bill and tax payments etc at post offices The postal department said it has decided to convert the India Post Payments Bank into a small finance bank, enabling…
All parameters of Chandrayaan-2 for landing rover in lunar south pole normal: ISRO
In a giant leap for the country’s ambitious low-cost space programme, ISRO’s most powerful three-stage rocket GSLV-MkIII-M1 had launched the spacecraft into the Earth’s orbit on July 22 from the spaceport in Andhra Pradesh’s Sriharikota. Spacecraft parameters of India’s second moon mission Chandrayaan-2 aimed at landing a rover on the…