Credit rating agency CRISIL, which pioneered ratings for MSMEs too in India, feels that the revised guidelines on the Performance and Credit Rating Scheme (PCRS) by the Union Ministry of Micro, Small and Medium Enterprises, will enhance the credibility of the ratings and increase its usage across…
Cabinet nod to capital goods policy to cut reliance on imported parts
The Cabinet has approved a first ever national capital goods policy that seeks to reduce reliance on imported equipment by incentivising domestic production and in the process creating crores of jobs The policy seeks to increase production of capital goods from Rs 2.3 lakh crore to 7.5 lakh cror…
State govts lend support to SME platforms
The Small and Medium Enterprises (SMEs) platforms started in early 2012 by the two national bourses, BSE and NSE, to enable smaller companies to list and raise money, have found support from some state governments. The Gujarat and Rajasthan governments have announced subsidies to pay for the expe…
GST legislation likely to be passed by Rajya Sabha in forthcoming session | Ajay Tyagi
May 25, 2016 | Additional Secretary, Ministry of Finance, Ajay Tyagi said that the government of the day was making all out efforts and trying its best to create consensus for the smooth passage of GST and hoped that the upper house of the Parliament would be able to pass the legislation in the f…
SMEs can now book and track LCVs on demand through Porter’s iOS app
Porter, pioneers in tech-enabled intra-city logistics, has launched the iOS version of the booking app, spurred by the success of the Android version which was launched in October last year. The app offers a simplified, hassle free booking experience to registered individuals and SMEs who can boo…
NASSCOM CoE-IoT organizes conclave to discover new start-ups in IoT space
NASSCOM CoE-IoT, a joint initiative of Government of India (Department of Electronics and Information Technology (DEITY)) and ERNET hosted its 1st edition of IoT ecosystem connect program-NASSCOM CoE-IoT Conclave in Mumbai on May 20, 2016. Organized in association with L&T Technology Services…
Thailand agricultural machinery market expected to cross USD 600 million benchmark by 2020 | Ken Research
The 2025 projection for GDP of Thailand is estimated to be USD 585.6 billion while the GDP (PPP) of the country is expected to reach USD 1,836.1 billion The future estimates indicate the contribution of the agriculture sector to further decline in 2016 to 9.3% and by 2020; the sector is estimated…
Saama capital raises $31 million for third venture capital fund
Saama Capital, a venture capital firm that has been an investor in unicorns such as and Snapdeal, has raised around $31 million for its third venture capital fund. “With the new fund we will be investing between $2 million to $5 million at a stretch in each company. We ideally look at a com…
Axis Bank incorporates subsidiary to operate TReDS
Private sector lender Axis Bank said it has incorporated a subsidiary A.Treds Ltd to operate Trade Receivables Discounting System (TReDS), which will help in improving flow of funds to SMEs. In November last year, the RBI had given in-principle approval to three entities to set up TReDs. The othe…
Askme Fin plans payment services for SMEs
E-commerce marketplace Askme Bazaar plans to help small and medium vendors who are transacting on its site by arranging credit and insurance products for them. These services will be provided via Askme Fin, the groups’ financial services platform. In the last 2-3 months, Askme Fin has helped abou…