The Centre has sanctioned Rs200 crores for Tirupur’s dyeing industry that was on the verge of closure due to severe financial crisis after making huge investments in the country’s first Zero Liquid Discharge projects for effluents. Tirupur is a hub of the textile processing and knitting industry …
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Demonetisation: MSMEs braced for more challenges ahead
Cash-dependent Micro, Small and Medium Enterprises (MSMEs) across the country have borne the brunt of the ongoing demonetisation exercise. With about 86 per cent of the currency (high denomination Rs. 500 and Rs. 1,000 bank notes) in circulation being scrapped with effect from November 9, and the…
Mudra loan disbursement, solar charkha demonstration in Port Blair encourage SMEs
Port Blair: A Mudra loan distribution and solar charkha demonstration function was held in the Dr. BR Ambedkar auditorium in Port Blair. The Minister of State for Micro Small and Medium Enterprises, GoI, Giriraj Singh, currently on visit to the Islands distributed financial assistance under Mudra…
Start-ups in India set to get Narendra Modi govt tax holiday booster shot
The government is considering a proposal to raise the tax holiday for start-ups from the current three years, aimed at further boosting an eco-system for budding entrepreneurs and job seekers, which could be announced in the coming Budget. Although the Department of Industrial Policy and Promotio…
VCs go back to basics, start-ups told to improve unit economics
After vying with each other to invest in start-ups at high valuations in the past few years, investors spent much of 2016 in cleaning up their portfolios, asking start-ups to reduce their cash burn, improve unit economics, and extend their runways (life). Several start-ups, which had no future, s…
Textile industry welcomes move on cotton purchase
The cotton textile industry in southern India has hailed Textile Minister Smriti Irani for announcing unique terms and conditions for procuring cotton from Cotton Corporation of India for the benefit of MSME textile units. Under the new terms and conditions for fully pressed bales of CCI facilita…
Kalraj Mishra allays fears of cash curb hitting MSMEs
Economic activities in the cash-driven informal sector may have been adversely affected by demonetisation, but the government does not foresee any major shrinkage in the overall production for FY17. “There might be some short-term contraction in production but as per the information given b…
Google India to announce good news for SMBs & start-ups
As you all are aware that Google CEO, Sunder Pichai is in India on a private holiday. What we are surprised to know is that he planned to announce good news for small businesses and startups on an event held by Google India on 4th January. According to sources, the event is confirmed and it will …
At Niti Aayog meet, PM Modi analyzes budget, skills, tourism
Prime Minister Narendra Modi, for the first time, attended an interaction with a set of noted economists and experts today, in which he called for innovative approaches to budget-making, and a special focus on skill development and tourism. The meet was organised by Niti Aayog. Attending the sess…
Two SME IPOs open offer; expect to raise Rs 18 cr
To tap upbeat investor sentiment, two Small and Medium Enterprises (SME) on December 27 launched their initial public offerings (IPOs) to raise nearly Rs 18 crore. The companies, Libas Designs and Prolife Industries, will get listed on NSE’s Small and Medium Enterprises platform, Emerge. Th…