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GST Bill likely to pass in Monsoon session; SMEs bullish on the turn around

With the Monsoon Session kicking off, small and medium business players seem enthused by the likeness of Goods and Services Tax (GST) Bill being passed by the Parliament. The NDA government has sought an all-party support in the passage of this long-pending bill, which seeks to create a uniform i…

Commerce Ministry launches portal for e-Procurement

The Commerce Ministry has launched an e-marketplace for online purchase of goods and services by various central government ministries and departments. The move is aimed at bringing in more transparency and streamlining the government procurement of goods and services. The Directorate General of …

CCI to sell cotton stock to spinning mills in MSME category only

The recent spurt in cotton prices has resulted in higher input costs for the spinning sector in India. In view of this situation, the Government reviewed the situation and decided the following: Cotton Corporation of India will sell its existing stock, purchased under MSP, to spinning mills in th…

KVIC to supply 23,500 silk jackets worth Rs 5.34 crore to NTPC

Khadi and Village Industries Commission, which has been on an aggressive campaign to promote the Khadi brand in the country and abroad from the past 8 months has bagged an order of supplying silk jackets to the National Thermal Power Corporation (NTPC). The power major has placed an order for wor…

Centre launches 15 International Skill Centers across country

The Ministry of Skill Development And Entrepreneurship has made a major announcement that the government is going to set up India International Skill Centers across the country to support youth getting foreign placement. While Skill India celebrates its anniversary with huge fanfare and more than…

India’s Coir export increase by 17 per cent | Kalraj Mishra

Coimbatore, July 16: Union MSME Minister Kalraj Mishra inaugurated India International Coir Fair (IICF-2016) showcasing a wide range of coir products. This expo is believed to be the largest coir confluence in the world. Organised by the Coir Board, under ministry of micro, small and medium enter…

Consumer, SME loan market to reach $3 trillion in 10 years: Report

With the government taking various initiatives for hassle-free and cashless financial transactions, the consumer and SME loan market is expected to grow to $3,020 billion over the next decade, says a Credit Suisse report. As per the report by the Swiss brokerage, the domestic financial landscape …

Country’s first ‘Women’s Entrepreneurs Park’ launched at FLO meet

NEW DELHI, 15 July 2016:  Harish Rawat, Chief Minister of Uttarakhand, launched the ‘Women’s Entrepreneurs Park’ of Uttarakhand, at a meeting organized by FICCI Ladies Organisation (FLO) at Federation House. The first industrial park in the country, exclusively for women entrepreneurs, will be lo…

Government redefines SME status for small jewellers

In a relief to SME jewellers, the government increased excise duty exemption limit for small and medium enterprise (SME) sector to Rs 10 crore from Rs 6 crore, waived the levy on sale of traded goods and relaxed various procedural norms, reports media. Accepting the recommendations of a panel, th…