Union MSME Minister Kalraj Mishra highlighted Scheme of Fund for Regeneration of Traditional Industries (SFURTI) during a press conference. He said 39 clusters under SFURTI would be approved with an approximate cost of Rs. 60 crores. It would be benefiting more than 10,000 artisans. The Scheme is…
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Indian MSME finance market expected to touch INR 46 trillion by FY 2020 | Ken Research
Ken Research announced its latest publication on “India MSME Finance Market Outlook to 2020 – Driven by Government’s Financial Inclusion Agenda and Newfound Profitability in Segment” which provides a comprehensive analysis of the MSME Finance Market in India. The future analysis of overall MSME m…
21 SMEs file IPO papers in 2016, target Rs 180 crore
To tap the upbeat investor sentiments, as many as 21 Small and Medium Enterprises (SMEs) have filed draft papers this year to raise funds totalling Rs 180 crore through their initial public offerings. The shares will be listed on the SME platforms of the BSE and National Stock Exchange (NSE). Sin…
Govt may form national hub for dalit MSME entrepreneurs | Minister Gehlot
Union Minister for Social Justice & Empowerment Thaawarchand Gehlot has said that this year being 125th Birth Anniversary of Dr. B R Ambedkar, it will also be the Year of Economic Empowerment for SC/ST entrepreneurs. In this regard, Rs 500 crore has been allotted in the budget for Stand Up In…
MSMEs battle obsolete technology, unskilled manpower, funding and Inspector Raj | QCI Report
In his August 2014 speech, PM Modi envisioned the ‘zero effect and zero defect’ (ZED) model and said ZED would primarily look at “making our product which has ‘zero defect’ so that it does not come back (get rejected) from the world market and ‘zero effectR…
Rs. 3000 crores for development of MSME sector | Kalraj Mishra
Union MSME Minister Kalraj Mishra has said that out of Rs. 3000 crore allocation to his Ministry, more than Rs. 1100 crore will be used for generating employment for more than 4,25,000 persons under Prime Minister Employment Generation Programme (PMEGP). He also stated that Rs. 130 crore has been…
Thomas Cook India partners with Western Union to assist SMEs
Thomas Cook (India) has announced a collaboration with Western Union Business Solutions to assist Small and Medium-sized Enterprises (SMEs) in India with their trade payments across borders. According to KPMG, SMEs have emerged as one of India’s largest growing sectors, with a significant G…
Fintechs are likely to disrupt the market by aggregating financial services for MSMEs
Financial technology companies have gain mileage over the last 5 years. Globally, the investment in online MSME finance market has grown by about 45% y-o-y and many billion dollars has been ploughed into startups in the online MSME finance market space in FY’2015 alone. With the influx of investm…
Engineering exports to 19 nations dip sharply | EEPC
Indicating the severity of global economic environment, engineering exports to as many as 19 out of India’s top 25 destinations have seen a sharp dip, with Malaysia alone recording a plunge of about 90 per cent. (A major portion of India’s engineering exports is on account of products…
Odisha govt plans to set up 38,000 MSME units | Naveen Patnaik
Announcing plans to set up 38,000 MSME units providing about one lakh jobs in Odisha, Chief Minister Naveen Patnaik on March 6 said industrialisation must be participatory and it should ensure inclusive growth of all sections of the society. “It is proposed to take up new initiatives for gr…