New Delhi: As many as 22 Public Sector Banks (PSBs) have reported enhancement of limits of 38,300 small and medium enterprises (SMEs), the Ministry of MSME has said. In a social media post, the Ministry said an enhancement of limits takes place upon renewal, revision or request by the borrower c…
News
Parliamentary Panel gives suggestions for MSME sector; To asses NPAs & impact of note-ban
A parliamentary panel has called for an assessment of the micro, small and medium enterprises to see whether the note ban has led to increase in NPAs for the sector. In its report, the Department Related Parliamentary Standing Committee on Industry said, “an assessment panel should be made …
Are 3 months enough for industry to prepare for GST, ask experts
The Finance Minister Arun Jaitley-headed GST council on March 16 cleared drafts of the State GST Bill and the UT GST Bill marking a big step forward in India’s plans for a countrywide rollout of Goods and Services Tax (GST) from July 1. The progress made towards rolling out the Goods and Service…
Venture Catalysts joins hands with TiECON 2017 as the investment partner for ‘The Pitch Room’
Giving wings to the entrepreneurial vision of innovators and business leaders of the future, Venture Catalysts, Indian seed investment and innovation platform, has tied up with the upcoming TiECON 2017 as its investment partner. Under the association, angel investors from VCats will participate i…
Start-ups can learn a lot from Infosys, Wipro: Nandan Nilekani
Infosys Co-Founder and Aadhaar architect Nandan Nilekani said the last few months have exposed various frailities of Indian startups and that it’s the responsibility of everyone in the ecosystem to see how entrepreneurs and companies can build better businesses from a leadership and value system …
Snapdeal makes way for Japanese SMEs; Partners with JETRO
As Snapdeal reels under heavy operational crisis, the company is now eyeing to expand its International brand portfolio. As a result of those ambitions, the company will now sell consumer products of various SME brands from Japan via a fresh partnership with Japan Trade Organization (JETRO). The…
India & Russia bat for SME cooperation
To reach their $30 billion bilateral trade target Moscow and New Delhi should promote cooperation between Small and Medium-scale Enterprises (SMEs) in Russian regions and Indian states, Russia’s Trade Minister Denis Manturov and India’s Minister of State for Commerce Nirmala Sitharama…
TEA welcomes Tamil Nadu’s tax free budget
Tiruppur Exporters’ Association (TEA) has welcomed the tax free Tamil Nadu Budget 2017-18, which has been presented in Tamil Nadu Assembly by D Jayakumar, the state’s minister of finance. The association said that the people will benefit from the schemes announced in the budget that i…
Power Grid Corporation & MSME-DI collaborate to organise National VDP
Public Procurement from MSMEs as a policy is aimed at promoting MSMEs and start-ups in the country. Under the Policy, every Central Government Ministries, Departments and Public Sector Undertakings (PSUs) is mandated to procure minimum of 20 per cent of their total annual value of goods or servi…
Govt approved only 10 start-ups for availing tax benefits under Startup India: Sitharaman
The government has approved only 10 startups for availing tax benefits since the launch of Startup India Standup India programme by Indian govt. in January 2016, Parliament was informed on March 15. As on March 9, the government received 1,835 applications for seeking recognition under the Startu…