Prime Minister Narendra Modi will unveil on December 19, a clutch of skill development initiatives aimed at skilling unemployed youth and also lay the foundation stone of the Indian Institute of Skills here. “Apart from launching 31 Kaushal Kendras which will serve as skilling centres and t…
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Demonetisation Effect: Manufacturing sector gets no relief
About 30,000 units manufacturing auto mobile spare parts and about the same number of agro based industrial units have shut shop post-demonetisation with orders drying up. About 1.5 lakh MSME units (all segments) lined up along Jeedimetla, Balanagar, Shahpur, Maheswaram, Adibatla, Quthbullapur, D…
Greater Noida Plastic Molding MSMEs envisage greater collaboration for a better tomorrow
The Indian Plastic industry has grown and diversified rapidly. The industry spans the country and as per market estimates, the industry employs about 4 million people and comprises more than 30,000 processing units out of which about 85% are small and medium-sized enterprises. On December 17, as …
Accel creates programme to help portfolio firms in India get Valley talent
S T S Prasad had moved to the US in 1986 for a master’s degree in computer science, and then had several stints, including at Sybase, Junglee, Amazon, and WalmartLabs, the last of which he had helped launch. At some point during his WalmartLabs days, he felt the desire to stay closer to his paren…
Lendingkart expects to disburse Rs 1,600 cr loan for SMEs
Fintech startup Lendingkart Group expects an exponential rise in working capital loan demand from small businesses and estimates to disburse Rs 1,600 crore by 2017-end through its NBFC arm Lendingkart Finance, a company official said. The company, which caters to small businesses generating reven…
SMEs to create bulk of new jobs in state: Odisha Governor
Bhubaneswar: Small and Medium Enterprises (SMEs) are the biggest source of untapped trade growth and this sector is expected to generate a bulk of new jobs for employment-ready youths by 2030, said Odisha Governor SC Jamir. Inaugurating the Eastern India MSME conference organised by the Chamber o…
Virbhadra Singh launches ‘CM Startup Scheme’ for industries
Himachal Pradesh Chief Minister Virbhadra Singh on December 17 launched ‘CM’s Startup Scheme’, seeking to exempt the new units from inspection for upto three years. Chief Minister said that in order to promote new ideas, products and processes suitable for commercialization and industry, the Gove…
Relief for SMEs adopting digital payment mode: Ravi Shankar Prasad
Union Information Technology Minister Ravi Shankar Prasad on December 17 said that no inquiry or opening on their transactions pre-November 8 will be done if small shopkeepers and enterprises adopt digital payment mode. Prasad said that this observation was made by Prime Minister Narendra Modi du…
Manufacturers, Govt unsure of when benefits of textile package will kick in
The Rs 6,000-crore package announced by the government for the textile industry in July, and notified in September, would boost production and employment much later than it was estimated, textile manufacturers said. Textile Ministry officials, however, said there was no timeline for when the pack…
Indian IPO market gives blockbuster performance in 2016
After years of tepid performance, fund raising through Initial Public Offerings (IPO) route touched a six-year high this year as more than 20 companies raised over Rs 26,000 crore from investors. According to a report in Press Trust of India (PTI), 26 companies have raised more than Rs 26,000 cro…