Gujarat Chief Minister Anandiben Patel said a separate ‘Vibrant Gujarat Global Summit’ for Micro, Small and Medium Enterprises (MSMEs) would be organised to attract investment in the sector. The announcement of organising such an event, which will be on the pattern of biennial ‘…
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IFC to invest Rs 134 crore in future consumer enterprise
Future Consumer Enterprise Limited (FCEL) July 2, 2016 said it would raise Rs 134 crore from the World Bank’s investment arm International Finance Corporation (IFC). FCEL, a part of Kishore-Biyani’s Future group, has entered into an agreement with IFC and as part of that it would issu…
Textiles, apparel exports likely to touch $50 bn in FY17
Helped by the government’s special package and marketing plans, India’s textiles and apparel exports are expected to touch $50 billion mark this fiscal from $38 billion in FY16, a senior official said July 2, 2016. The Union Cabinet last week approved a Rs 6,000-crore package for the …
Ludhiana to create 3 lakh skilled jobs by 2022
Ludhiana alone is estimated to create around 3-lakh job opportunities for skilled workforce by 2022, stated a survey conducted by Rockman Industries, India’s leading auto components manufacturer, and Ernst & Young (EY). The survey revealed that vocational training and skills training wo…
After SMEs, HDFC bank mulls digital services for big corporate
After launching comprehensive digital banking services for small and medium-sized enterprise (SME) clients on June 30, private sector lender HDFC Bank is now working on doing the same for its large corporate clients, country head – business banking — Aseem Dhru told. With the launch on June 30, t…
Competition among banks will cut SME borrowing cost: IMC President
The cost of funding for Micro, Small and Medium Enterprises (MSMEs) can be bought down substantially by unleashing competition among banks. Removing restrictions on foreign banks opening more branches will do the trick, said Deepak Premnarayen, President-elect, Indian Merchant Chamber, said . Dis…
Super SME Awards to felicitate the Shining stars of Indian SME Sector on July 09, 2016
The inaugural edition of the ‘SMEpost.com – WASME Super SME Awards 2016’ will be held on July 09, at the PHD House, New Delhi. These awards have been constituted to celebrate the Success Stories of Indian SME Sector who have scored big through innovative thinking, operational efficiency, fu…
Deposit norms relaxed to help startups raise funds
In order to make it easier for startups to secure funding, the government has exempted any advance of more than Rs 25 lakh to a startup from being treated as deposit provided that the person giving the money does it in the form of convertible note. According to the Companies Act of 2013, any comp…
MSME Secretary launches India’s first commonwealth SME Association
Ministry of MSME Secretary K K Jalan launched India’s Commonwealth SME Association to focus on linking Indian exporters to the suppliers from LDCs. The Commonwealth SME Association, a joint initiative of industry body FISME and Commonwealth Secretariat, London, would provide a sustainable platfor…
RBI empowered committee reviews MSME credit aims to offer solutions to its woes
In a forum to review the credits of select start-ups, Reserve Bank of India (RBI) at its Empowered Committee meet on Medium Small and Micro Enterprises (MSME) here on Wednesday had invited a clean energy start-up Avant Garde Innovations being the first in the UN campaign for environmental sustain…