The commerce department wants to create a fund aimed at boosting India’s shrinking exports, proposing a financing mechanism that would discourage exports of raw material and help local value addition. (MSMEs account for nearly 45 per cent of India’s exports). The Ministry of Commerce & …
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Odisha Govt. to come up with a new Entrepreneurship Policy in Feb 2016
The Odisha Government would soon come up with a new Entrepreneurship Development Policy in February with an aim to help out the entrepreneurs in the State. The Micro, Small and Medium Enterprise (MSME) Department is in process of finalizing the policy, Industry sources said. Chief Secretary Adity…
Centre creating rehabilitation framework for MSMEs featuring as NPAs of banks
The Center has created a framework for revival and rehabilitation of MSMEs, which account for nearly half of the non-performing assets (NPAs) of banks from the industry sector, MSME Minister Kalraj Mishra has said. The MSME Ministry would immediately take steps to set up a “design studio” as a “c…
Gems & Jewellery body opposes move to make PAN card mandatory for gold buying
The All India Gems and Jewellery Trade Federation (GJF), the national trade federation for the promotion and growth of trade in Gems and Jewellery (G&J) sector across India, has expressed disappointment over imposition of requirement of PAN Card on any transaction of Rs 2 lakhs and above. GJF…
US Law to hit Indian textiles | FICCI
India’s textile exports is hit due to US legislation for federal procurement stipulating sourcing of raw materials from the designated countries only or US domestic suppliers. Voicing concern, FICCI has asked Indian Government to take up the issue either bilaterally with US or multilaterally incl…
MSME Year-ender for UP
The economic slowdown over the last few years cast a shadow over the Micro, Small and Medium Enterprises (MSMEs) in Uttar Pradesh during 2015. In terms of sick units, Uttar Pradesh brought the curtain down on year just ended with 84,063 such units as per RBI data cited in Parliament by Minister o…
Auto component SMEs adversely hit by Chennai floods
Small scale industries hit by the floods earlier this month face long-term business losses as customers look to alternative sources for components. Over 20,000 micro, small scale and medium enterprises were damaged in the heavy rains and the ensuing floods in Chennai and neighbouring districts ea…
MSMEs in J&K playing vital role in employment generation | RBI
The 32nd Empowered Committee (EC) meeting on Micro Small and Medium Enterprises (MSMEs) in Jammu & Kashmir was held here on Thursday. The meeting was chaired by D Sethy, Regional Director, Reserve Bank of India, Jammu and Kashmir. In his address, he stated that the main purpose of holding th…
MSME body opposes Bonus Amendment Bill
The Micro, Small and Medium Enterprises (MSME) industry in Uttar Pradesh has strongly opposed the retrospective implementation of the Payment of Bonus Amendment Bill 2015. On December 23, the Parliament had passed the Bill amending the Payment of Bonus Act, by which more employees have become eli…
‘Woolen of India’ | To promote Handloom & Handicraft products
To promote handloom and handicraft products of good quality, the government is holding “Woolen of India”, a National Level Special Handloom Expo from 30th December, 2015 to 12th January, 2016. It was inaugurated by Textiles Secretary, Dr. S.K.Panda. It is an Exhibition cum sale at the newly renov…