Textile mills are pinning their hopes on the fourth quarter to ride over the third quarter impact of demonetisation. For this, industry is banking on the textile ministry’s move to allow mills to pay only 10 per cent of procurement money that has come as a breather. According to industry, t…
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MSME-DI Agra to organise National Vendor Development Programme to promote self-employment
Mathura: In order to attract unemployed youth towards self employment, MSME (Ministry of Micro, Small & Medium Enterprises) Development Institute, Agra is organising two day National Vendor Development Programme (NVDP) cum Industrial Exhibition from January 7. “The purpose of the exhibi…
Nepal wants India to roll back duty on imported jute products
The heavily export-dependent jute mill industry in Nepal wants India to withdraw the recently imposed countervailing duty (CVD) of 12.5% on sacking bags and hessian cloth imports. Both the country’s Foreign Trade Association and Nepal Jute Mills Association (NJMA) say the duty goes against the sp…
Start-ups serve India’s defence & profitably
Bengaluru: Last January, when Pathankot district in Punjab came under crossborder firing, the Indian army depended heavily on unmanned aerial vehicles (UAVs). The soldiers used them for border surveillance. Those UAVs were built by IdeaForge, a 100-people, Mumbai-based venture that was started in…
PM’s new steps extremely positive for economy: ASSOCHAM
The Associated Chambers of Commerce & Industry of India (ASSOCHAM) said that the steps announced by Prime Minister Narendra Modi in his address to the nation on New Year’s Eve are extremely positive for the Indian economy. The apex industry body also said that the focus should now be on effec…
MSEs with credit rating increase debt by 70%
CRISIL’s analysis of 1,600 Micro and Small Enterprises (MSEs) which sought re-rating for four consecutive years or more shows 35 per cent of them saw at least one rating upgrade. An equal number saw no change in rating, while 14 per cent were downgraded. The rest experienced multi-directional rat…
Retrospect 2016 | Key initiatives by the MSME Ministry to enable & empower MSME sector
Here are some initiatives taken by the Ministry of Micro, Small and Medium Enterprises during 2016 to boost the MSME space in the country. PM ANNOUNCES SCHEMES AT NATIONAL MSME AWARDS IN LUDHIANA: It was for the first time that Prime Minister launched new Schemes of the Ministry at a function at…
Budget 2017 may spring sweet surprises for start-ups
Prime Minister Narendra Modi’s flagship project, Startup India, might get a push in upcoming Union Budget. According to some media reports, to guarantee the success of the key program, the Department of Industrial Policy and Promotion (DIPP) is designing a new set of tax concessions on empl…
Helpline for weavers ‘Bunkar Mitra’ starts functioning
“BunkarMitra”, the Government of India’s Helpline for Handloom Weavers, went live on December 4. The helpline was launched by the Union Textiles Minister Smriti Irani on December 25, 2016 on the occasion of “Good Governance Day”. Interacting with an official of the c…
Ease of doing biz: DIPP plans to appoint consulting agency
The Commerce Ministry is planning to appoint a consulting agency for assistance in improving India’s business climate and bettering its ranking in World Bank’s ease of doing business index. The Department of Industrial Policy and Promotion (DIPP), under the Ministry, said the governme…