The Chennai floods could put loans worth close to Rs 1-lakh crore, advanced to small businesses and the priority sector in Tamil Nadu, at risk. However, the bad loans are expected to show up only in the next fiscal as relaxations in repayment will obscure the stress for the initial period. Accord…
News
MSMEs still awaits GST to overcome taxation complexities
Indian Micro Small and Medium Enterprises are demanding adequate measures from the government to protect them from competition from the neighboring countries, especially China. The industrialists have been complaining since long about the complex tax structure in the country. To add to their prob…
Nadella seeks ideas from start-ups to connect rural India
Microsoft is interested in working with Indian entrepreneurs to connect rural areas with technology and new economy, Chief Executive Officer Satya Nadella said on Monday. Nadella, who was on a four-day personal visit to Hyderabad to attend a family function, visited T-Hub, an incubation facility …
Guarantees & counter guarantees for loans to be provided to MSMEs
The government must do away with the interest subvention scheme and p lough back the subsidy into a universal crop insurance scheme for small and marginal farmers, according to a recommendation from a panel constituted by the Reserve Bank of India (RBI). The move can transform the agriculture sec…
3-Day MSME Expo under way in Vishakhapatnam
A national vendor development programme-cum-MSME expo began at Autonagar, Gajuwaka at Visakhapatnam on December 28. The three-day exhibition has over 100 stalls and the participants explained to visitors about the specifications of their products. Organised jointly by the MSME-Development Institu…
SMEs need professional advice | RBI
To provide a leg-up to Micro, Small and Medium Enterprises (MSMEs), a Reserve Bank of India panel has made a series of recommendations, including establishing a system of professional credit intermediaries/ advisers, to help both the sector and banks in credit assessment and encouraging multiple …
SMEs backbone of economy | Bandaru Dattareya, Labour & Employment Minister
Small and Medium Industries (SMEs) are the backbone of the country’s manufacturing besides helping in generating employment to millions, Labour & Employment Minister Bandaru Dattareya said. Dattareya was speaking at the two-day National SME Conference GoNat where he lauded the efforts of SMEs…
Chennai floods wash out Rs 1,700 crore MSME business | SMERA Report
Of the estimated Rs 15,000 crore losses due to the recent devastating floods in Chennai, coastal Tamil Nadu and the neighboring Puducherry, MSMEs bore the maximum brunt of about Rs 1,700 crore, says a report. On a most conservative side, MSME sector has lost nearly Rs 1,700 crore to the calamity …
Mumbai to host ‘Make in India Week’ from Feb 13 | Will address issues pertaining to SMEs
Taking a cue from the biennial investor congregation — Vibrant Gujarat Summit — held every alternate year in Gujarat, the Center is organizing “Make in India Week” in Mumbai during February 13-18. The week-long event, being organised by the Department of Industrial Policy and Promotion (DIPP), Un…
‘Start-up India, Stand-up India’ | Boosting entrepreneurs at grass-root level
Prime Minister Narendra Modi said, on Sunday a full action plan of the ‘Start-up India, Stand-up India’ programme, aimed at providing fresh impetus to entrepreneurship at the grass-root level, will be announced on January 16. In his monthly ‘Mann ki Baat’ radio programme, Modi said, “A structure …