India plans to establish a high-level, inter-ministerial panel that will act as the fulcrum of the Modi government’s plan to create an ecosystem to nurture innovation. The panel will evaluate startup proposals to see if they qualify for incentives. Modi is planning a big-bang announcement d…
MSMEs still awaits GST to overcome taxation complexities
Indian Micro Small and Medium Enterprises are demanding adequate measures from the government to protect them from competition from the neighboring countries, especially China. The industrialists have been complaining since long about the complex tax structure in the country. To add to their prob…
Start ups offering competitive packages for placement at IIIT-H
The ongoing placement process at the International Institute of Information Technology, Hyderabad (IIIT-H), is marked by the increased presence of start-ups, which are willing to offer competitive packages as compared to big recruiters. This comes on the heels of a growing interest in campus plac…
Nadella seeks ideas from start-ups to connect rural India
Microsoft is interested in working with Indian entrepreneurs to connect rural areas with technology and new economy, Chief Executive Officer Satya Nadella said on Monday. Nadella, who was on a four-day personal visit to Hyderabad to attend a family function, visited T-Hub, an incubation facility …
Guarantees & counter guarantees for loans to be provided to MSMEs
The government must do away with the interest subvention scheme and p lough back the subsidy into a universal crop insurance scheme for small and marginal farmers, according to a recommendation from a panel constituted by the Reserve Bank of India (RBI). The move can transform the agriculture sec…
3-Day MSME Expo under way in Vishakhapatnam
A national vendor development programme-cum-MSME expo began at Autonagar, Gajuwaka at Visakhapatnam on December 28. The three-day exhibition has over 100 stalls and the participants explained to visitors about the specifications of their products. Organised jointly by the MSME-Development Institu…
SMEs need professional advice | RBI
To provide a leg-up to Micro, Small and Medium Enterprises (MSMEs), a Reserve Bank of India panel has made a series of recommendations, including establishing a system of professional credit intermediaries/ advisers, to help both the sector and banks in credit assessment and encouraging multiple …
SMEs backbone of economy | Bandaru Dattareya, Labour & Employment Minister
Small and Medium Industries (SMEs) are the backbone of the country’s manufacturing besides helping in generating employment to millions, Labour & Employment Minister Bandaru Dattareya said. Dattareya was speaking at the two-day National SME Conference GoNat where he lauded the efforts of SMEs…
Start-ups to rely on bridge rounds to tide over fund crunch
When the founders of angel-funded healthcare start-up Medd set out to raise institutional capital from Venture Capital (VC) funds in June, the tide had turned. The start-up ecosystem was showing signs of trouble, with large start-ups such as Housing, TinyOwl and others laying off employees and st…
Chennai floods wash out Rs 1,700 crore MSME business | SMERA Report
Of the estimated Rs 15,000 crore losses due to the recent devastating floods in Chennai, coastal Tamil Nadu and the neighboring Puducherry, MSMEs bore the maximum brunt of about Rs 1,700 crore, says a report. On a most conservative side, MSME sector has lost nearly Rs 1,700 crore to the calamity …