Past Events

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 of UK Sinha committee to strengthen micro, small and medium enterprises sector, Union Minister Nitin Gadkari said on September 5.

The committee set up by the RBI under the former SEBI chief among other things had recommended creation of distressed asset fund with a corpus of Rs 5,000 crore, insurance coverage to employees of MSMEs on the lines of Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) schemes, and cash flow-based lending.

Speaking at the ‘National Workshop on Credit Linked Capital Subsidy’ and ‘Discussion on Delayed Payment for MSMEs’, Gadkari also stressed that to make India a USD 5 trillion economy in the coming years, MSMEs will have to raise their contribution to GDP from the current 29 percent to 50 percent, in addition to increasing exports from the sector to 50 percent from 40 percent at present.

Referring to instances where goods are supplied by micro, small and medium enterprises (MSMEs) but a particular person or entity does not make payment after taking their delivery on multiple occasions, Gadkari said stringent action needs to be taken against such habitual offenders and the government will certainly take remedial measures in this regard.

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 Sinha Committee appointed by the Reserve Bank has given its suggestions. I have spoken to the Finance Minister today and we have decided that Finance Secretary and our (MSME) Secretary will sit together and submit a final report on the Sinha Committee recommendations after consulting stakeholders, so that we can implement it in the 15 days thereafter,” said MSME Minister Gadkari, who also holds the portfolio of the Road Transport and Highways Ministry.

The committee was set up to review the framework for MSMEs, and suggest long-term solutions for economic and financial sustainability for the sector, study the impact of recent economic reforms, and identify the structural problems impacting its growth.

Addressing the workshop, Gadkari said delay in payments to MSMEs leads to erosion of their working capital and he has spoken with the finance minister to address the issue.

He said there was a need to strengthen the MSME sector to add five crore jobs to the 11 crore created till now.

Besides, Development Commissioner (MSME) Ram Mohan Mishra said last week there was a meeting of CPSEs called by the finance ministry and they have been instructed to clear all pending dues owed to micro and small enterprises.

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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 that he was trying to find a solution to this issue.

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.

“The small scale industry producer never gets payments on time. And this tires and finishes him. I am seriously thinking, whether it is private or public sector or government, the payment of MSME should get released in 45 days, and I am trying to take some concrete decision on this,” he said.

MSME play important role in creation of employment, he said.

“So far, MSME have given jobs to 11.50 crore youths, and in these five years I am aiming to add five crore more employment opportunities,” Gadkari, who took charge of MSME portfolio in the second term of Modi-led NDA government, said.

Expressing concern about the agrarian crisis, he said the MSME ministry was also focusing on handloom, handicrafts and agro processing industries.

Talking about the pollution in Delhi, Gadkari said, “I want to tell you that (with) the works we have undertaken in these five years, Delhi will be completely free of air and water pollution before we complete our five years.”

Promoting entrepreneurship was an important mission of the government, as without it “we cannot become 5 trillion dollar economy”, he said.

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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. Big corporations “cannot do justice” to entrepreneurship which can provide such self-sufficiency, he said, addressing all-India convention of `Laghu Udyog Bharti’ here.

Laghu Udyog Bharti is an RSS-linked organisation which works in the small and medium enterprises (SME) sector. “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.

“And it is entrepreneurship which can make more and more people financially self-sufficient. Big corporations cannot do justice to such entrepreneurship but small and medium scale industry can give impetus to financial self-sufficiency,” the RSS chief said.

“The more the small and medium scale industries grow, people will become more financially independent,” he said. Across the world, the wealth is distributed among few big corporations and 24-25 persons (who own them), Bhagwat said.

The present trend in the industry is reduction of manpower due to automation, but the entrepreneurs related to the Laghu Udyog Bharti do not resort to retrenchments as they consider workers as family, he said.

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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 presence of CEO NITI Aayog, Mr. Amitabh Kant, senior government officials and partners of Women Entrepreneurship Platform (WEP).

The applications for the awards are now live, and nominations can be filed on behalf of individuals or by the individual themselves at https://wep.gov.in.

The WTI Awards, since its inception in 2016, has been recognising and celebrating stories of exemplary women from across India.

The theme for WTI Awards 2019 is “Women and Entrepreneurship”, in continuation with last edition’s theme that recognizes women entrepreneurs who are breaking the glass ceiling and challenging stereotypes, through businesses and enterprises and are providing innovative developmental solutions to building a dynamic New India.

Whatsapp has collaborated with the WEP for the WTI Awards of 2019, and will be providing support equivalent toUS$100,000 to the winners.

The campaign builds on the success of the WTI Awards for the past three years. WTI Awards 2018 received more than 2,300 nominations.

Through a highly objective and rigorous selection process, 15 women entrepreneurs doing inspirational work from diverse sectors viz. Renewable Energy, Education, Sanitation, Art and Culture, Social Innovation and Impact, were recognised.

The first two editions of the WTI Awards felicitated 12 phenomenal stories each of women undertaking phenomenal work to transform societies across India’s cities, towns and villages; and empowering themselves and their communities.

Addressing on the occasion, Amitabh Kant CEO NITI Aayog said, “For the past three years, we have been celebrating the power of women and recognising their efforts in championing the cause of their societies. The next wave of disruption in India’s start-up ecosystem would be led by women-led enterprises”.

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Empowering India’s hardware startups: Qualcomm signs a technical bilateral cooperation agreement with MeitY

As Prime Minister Narendra Modi’s vision to transform India into a digitally empowered society continues to unfold, Qualcomm is glad to support the country’s technology ecosystem. In keeping with its aim to align with Digital India’s objectives, Qualcomm India, on Thursday, announced that it has signed a technical bilateral cooperation agreement with the Ministry of Electronics and Information Technology’s MeitY Startup Hub (MSH). The collaboration aims to accelerate startup growth in the country, particularly MSH-supported startups.

From Left to Right: Parag Kar, VP Government Affairs, Qualcomm India & SA, Rajen Vagadia, VP and President, Qualcomm India and SAARC, Dr. A. K. Garg, Director, MeitY and Ajay Sawhney, Secretary of MeitY

From Left to Right: Parag Kar, VP Government Affairs, Qualcomm India & SA, Rajen Vagadia, VP and President, Qualcomm India and SAARC, Dr. A. K. Garg, Director, MeitY and Ajay Sawhney, Secretary of MeitY

The scope of the agreement

The agreement aims to provide benefits of the Qualcomm Design in India Challenge (QDIC) programme to MSH-supported startups, with the broad objectives of promoting entrepreneurship, IP-driven innovation and product development requiring low power computing or wireless connectivity. The partnership will lead to the creation of platforms and forums that give startups with high growth potential and disruptive innovations to opportunities to develop and re-shape digital supply chains in the future. Selected startups will get to interact with international domain experts, investors, accelerators, incubators, industry associations and large companies that will help them scale up their solutions. The scope of the agreement also includes IP creation and educational workshops by MSH and Qualcomm, in addition to roadshows and startup screenings at MSH incubation centres.

Speaking about the agreement, Rajen Vagadia, VP and President, Qualcomm India and SAARC, said, “Over the last three years, Qualcomm India has been encouraging and fostering hardware and internet of things (IoT) startups through our own Qualcomm Design in India Challenge. We look forward to expanding our reach through this collaboration and sharing our learnings, domain expertise and best practices with a larger set of startups.”

Ajay Sawhney, Secretary of MeitY said that the organisation’s vision is to build a conducive innovation and startup ecosystem by bringing together various technology stakeholders. “Qualcomm’s expertise in the area, ability to provide access to relevant stakeholders and a dedicated lab with state-of-the-art equipment to startups selected to be part of Qualcomm Design in India Challenge makes it an ideal partner of choice for this collaboration,” he added.

Empowering India’s hardware ecosystem

As India’s longest-running wireless hardware startup incubation programme, QDIC is one of four initiatives that are part of the larger Qualcomm Design in India Program – Design Services via the Qualcomm Innovation Lab, Accelerated Design Program (engagement with its licensed customers) and Qualcomm Innovation Fellowship (engagement with academic research community).

In its fourth edition, with this design challenge, the initiative continues to empower the domestic hardware ecosystem which will positively impact the product ecosystem of design and enhance the manufacturing facilities in India.

Presenting the fifth cohort of Qualcomm Design in India Challenge

The fifth cohort of the Qualcomm Design in India Challenge program at an exclusive event held in New Delhi
The fifth cohort of the Qualcomm Design in India Challenge program at an exclusive event held in New Delhi

On July 4, 2019, Qualcomm also revealed the 10 startups that made it to the fifth cohort of Qualcomm Design in India (QDIC) Challenge at an exclusive event held in New Delhi. Over six months of incubation, Qualcomm will help these 10 startups extend their design capabilities by giving them access to the Qualcomm Innovation Lab, evaluation kits and development boards, along with tools to optimise camera, audio and display features. In addition, the startups also have a chance to win anywhere between $50,000 to $100,000 at the grand finale later this year.

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