Partnership with global SME partnerships is critical for the growth of Indian SMEs as well as for the success of the Prime Minister’s visionary ‘Make in India’ initiative, MSME Minister Kalraj Mishra told a CII Global SME Business Summit in New Delhi. The importance of SMEs has been s…
The S&P BSE SME index less prone to volatality
The BSE SME index on Tuesday retreated to 756.20 points a drop of 14.45 points from Monday’s close of 770.65 in tandem with the prevailing sentiments in the equity markets. Equity markets have been overwhelmed by uncertainty as evident from the nearly 220 basis points drop in the BSE sensitive in…
Faasos Raises Rs 200 Crore Funding
Pune-based food-tech startup, Faasos Food Service has raised Rs 200 crore from Russian internet-focused investment firm ru-Net. With the participation of existing investors including venture capital firms like Sequoia Capital and Lightbox Ventures, the online restaurant is now valued at Rs 870 cr…
MSME Ministry implements National Manufacturing Competitiveness Programme
Ministry of Micro, Small and Medium Enterprises (MSME) is implementing the National Manufacturing Competitiveness Programme (NMCP) to develop global competitiveness among Indian MSMEs. Speaking at the Lok Sabha, Minister of State, Micro, Small and Medium Enterprises, Shri Giriraj Singh said the t…
SMEs should improve efficiency and think big | Arvind Panagariya | Vice Chairman NITI AAYOG
Small and Medium industries, which are main sources of employment, can expand only if the improve efficiency not depend on merely tax sops, NITI AAYOG Vice Chairman Arvind Panagariya has said. For achieving transformational economic growth, the industry particularly small and medium enterprises …
Over Rs 50 crore worth application from MSMEs in biz bridge 2015
Loan applications worth over Rs 50 cr were received from MSMEs, both existing and prospective, in the east, particularly West Bengal, at the four-day Biz Bridge 2015, the largest manufacturing and engineering exhibition and conference in the East, which ended at Milan Mela on December 6. CII will…
Analytics startup Zenatix Solutions raises funding from Blume Ventures
Zenatix Solutions, an internet-of-things (IoT) driven energy-data analytics startup has raised an undisclosed amount of follow-on funding led by seed focused fund Blume Ventures. This comes about five months after the Gurgaon-based startup raised Rs 1.27 crore from angel investors including Googl…
MSMEs may find it easier to raise funds
To ease up financing requirements for the micro small and medium enterprises (MSMEs), lenders are looking at a proposal to attach moveable properties such as existing inventories too as collateral. At present only immovable assets such as real estate are taken as guarantee. If a proposal is accep…
Indonesia Telecom firm XL Axiata to invest in Digibiz SME platform
Indonesia telecom firm PT XL Axiata Tbk (EXCL) is setting up a business solutions platform, DigiBiz, to help small and medium enterprises (SMEs) to strengthen their marketing initiatives and grow their businesses. DigiBiz platform is a mobile app that aims to enable SMEs to share information abou…
Shriram Transport Finance to offer SME loans
Shriram Transport Finance has opened a new avenue for growth by financing smaller business needs of its old and loyal customers. It has entered into SME loans segment six months ago. The non banking finance company expects about 10 per cent of its existing customer base of two million to boost it…