The Centre would shortly launch an exclusive scheme for women entrepreneurs, a senior official in the Ministry of Micro, Small and Medium Enterprises (MSME) said. “It will be an exclusive scheme for women entrepreneurs. We have not yet finalised the contours (of the scheme). Hopefully, we will la…
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Demonetisation: KVIC sales grow 9.25% in Dec in spite of cash ban
Sales of khadi and village industry products grew 9.25 per cent in December despite the demonetisation drive, KVIC said. The Khadi and Village Industries Commission (KVIC) sells these through more than 7,100 sales outlets across the country. Chairman V K Saxena said the decision to demonetise Rs …
Centre, state go all out to make Vibrant Gujarat Summit a success
Ahmedabad: The Centre is leaving no stone unturned to make the biennial Vibrant Gujarat Global Summit a success. The five-day event is scheduled to kick off at Mahatma Mandir in Gandhinagar. Prime Minister Narendra Modi, it is learnt, is personally monitoring arrangements for the summit. This apa…
Demonetisation: 35% jobs losses in first 34 days, SMEs worst hit
Cash-ban a boon or bane? – To many it may seem like a bold move by a confident Prime Minister, but to others, it spelt nothing but doom. A study by the All India Manufacturers’ Organisation (AIMO) reveals that micro-small scale industries suffered 35 per cent jobs losses and a 50 per cent d…
Odisha’s new Apparel Policy to attract investors
The Odisha Apparel Policy recently introduced by the state is a welcome gesture to attract textile investors from various clusters like Tiruppur for setting up industries in the state, said a top official from the Odisha Cooperative Spinning Mills Federation Limited (Spinfed Odisha). Companies in…
GST rate: In surprise move, polyester makers seek higher imposts
It’s not that a tax waiver or a low rate of tax is everyone’s choice. The input tax credit (ITC) facility, which will be the hallmark of the proposed goods and services tax (GST), has several industrial segments pitching against their potential exclusion from the tax regime while some other askin…
MUDRA loan disbursals take a hit due to demonetisation
Loan disbursals by Micro Units Development and Refinance Agency (MUDRA) slowed down in the third quarter of current financial year following the demonetisation of high-value currencies, an official said. “We have disbursed Rs 80,000 crore (from April 1 to December 31, 2016). There have been…
RBI pulls up Religare arm over lending norms
Mumbai: The RBI has pulled up Religare Finvest, the NBFC arm of Religare Enterprises, for outstanding loans of Rs 1,156 crore to entities which were given under the “influence of its promoters”, flouting lending guidelines and corporate governance norms. The Singh brothers, Malvinder …
Budget Wishlist: Knitwear Capital seeks tax breaks, upgraded tech & better infrastructure
The knitwear capital of India Tirupur has its pre-budget wish-list all set and demands for adequate infrastructure, R&D centre and incubation centre to empower textile clusters with world-class industry infrastructure facilities. Presently clusters like Tirupur are focused more on basic style…
Fourth edition of Maker Fest kicks off
Ahmedabad: Fourth edition of Indian version of ‘Maker Fest’, a fest launched in 2006 in USA showcasing community friendly products, was inaugurated. Called ‘Maker Fest’ in India, 150 makers and 25 start-ups would be displaying their innovations at the event, the organisers…