Demonetisation has created an enormous opportunity to channelise public savings into productive assets, and consolidating data of SMEs and corporates can provide banks with the necessary information to assess the credit-worthiness of borrowers, Confederation of Indian Industry (CII) said on Decem…
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Gujarat: Over 42,500 MSME units reported ‘sick’ in 2016
Despite occupying a special realm in the biennial Vibrant Gujarat summits and being showered with financial sops through a new industrial policy, MSME units in Gujarat continue to report “sick” in large numbers. In 2016 alone, over 42,500 MSMEs units have reported “sick” in the state, which is th…
Govt to fund defence MSME work up to Rs 10 cr project cost
New Delhi: More than two years after announcing it, the government has finally kick started its defence technology fund scheme — a cornerstone of the Make in India initiative that will fund research by MSMEs on urgent military technology projects up to a value of Rs 10 crore. In the first r…
Govt to launch Lucky Grahak & Digi-Dhan Vyapar Yojana
The Government of India seeks to promote digital payment methods to encourage consumers and merchants to increasingly shift to these payment modes. To take this imitative forward, Lucky Grahak Yojana for Consumers and Digi-Dhan Vyapar Yojana for Merchants, will be launched on 25th December 2016 a…
Here’s why 2017 will be an interesting year for Indian start-ups
Even as 2016 comes to a close, startups are hopeful that the New Year will bring in some joy. The last two months of 2016, have been a dampener for the Indian startup ecosystem in hyper-local, food tech, software and investment domains. While grocery e-tailing and payment wallets have gained this…
Single-window clearance facility to entrepreneurs soon: UPSIDC MD
To ease the process of setting up and running businesses in the state, the Uttar Pradesh government will soon provide single-window clearance facilities to entrepreneurs, while projects pending approval at the Uttar Pradesh State Industrial Development Corporation (UPSIDC) head office are expecte…
Potential in technical textile sector yet to be tapped properly
Lack of awareness and lesser penetration in rural areas was the reason the vast potential in the technical textile sector could not be tapped properly,a senior Textile Commissioner official said, even as major textile associations extended support for the sector’s growth. Though the sector …
A stronger ecosystem for SMEs increasing Digital India footprint
Increasing access to the Internet even in smaller towns and the rate of smartphone-led connectivity spreading across the country meant India was prime ground for a campaign like Digital India. But end-users getting savvier and going online to be connected to services or making purchases isn’t the…
IAN invests close to $50 mn in start-ups during 2016
India’s largest angel association Indian Angel Network (IAN) invested close to Rs 340 crore in seed and early stage deals during 2016. The network invested in about 30 deals, averaging three deals a month, many of which were follow on rounds in existing portfolio startups. IAN has a members…
Textile industry to attract Rs. 1 lakh cr investments by 2025
The Indian textile industry is expected to attract Rs. 1 lakh crore investments in technical textiles by 2025, according to M. Senthil Kumar, Chairman of Southern India Mills’ Association. At a conference on technical textiles and non-wovens organised by Federation of Indian Chambers of Commerce …