The Chennai floods not only claimed more than 300 hundred lives across the state but has also sunk the businesses worth thousands of crores of rupees in the city, as per the economists. Losses of the MSMEs located in industrial estates could be around 1,800 crore. Chennai is well known for its IT…
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Informal sector to be under pension scheme | PFRDA Chairman
The government is working towards a pension scheme for the informal sector, which comprises 88 per cent of the workforce in the country, Pension Fund Regulatory and Development Authority Chairman Hemant G Contractor has said. Currently only 3-4 per cent employees in this sector have any kind of p…
SMEs produce 80% of defence components
Indian Small and Medium enterprises numbering about 6000 supply 80 per cent of components, aggregates and assemblies of complex defence weapons system and aircraft, an official statement said. These 6000 enterprises spread all over the country supply components including hi-tech and sub-assemblie…
Succession @ SMEs: Family business may not always be preferred
Big industrial magnates have the luxury to expect that their sons and daughters will join their companies at some point of time. But not so generally in case of SMEs owners. Offspring of small and medium scale industrial units seldom go to big colleges to earn their degrees, but rarely back to th…
Technology edge to enable SMEs compete with big boys
According to the study by Greyhound Research commissioned by technology firm EMC India, technology is helping start-ups deliver unique and personalised experiences compared to mid and large-sized enterprises. It also said, “Business agility is the key business attribute that is allowing sta…
Big corporate NPAs impacting credit to SMEs
Banks have squeezed their lending to micro, small and medium sector enterprises (MSMEs) as the spillover from the bad loans of large corporates continue to haunt their balance sheets. According to the monthly sectoral loan deployment data by the Reserve Bank of India, outstanding credit to medium…
IIT (Kharagpur) to hold global entrepreneurship summit
The Entrepreneurship Cell of Indian Institute of Technology (Kharagpur), one of the world top centres of engineering education and research and development (R&D), will hold Global Entrepreneurship Summit (GES)-2016 from January 8 to 10, 2016. It will be one of the world’s biggest platfo…
Give direct selling a push to benefit small entrepreneurs | DIPP Secy
Department of Industrial Policy and Promotion Secretary Amitabh Kant said that direct selling will have to be given a greater thrust as it empowers women, MSMEs and promotes manufacturing in India. At FICCI DIRECT 2015, an annual flagship event for Direct Selling (DS) industry. Kant said that the…
India’s first saffron park in J&K to be dedicated to its farmers by early 2016
The National Horticulture Board will dedicate its first Saffron Park at Pampore in Jammu & Kashmir to its farmers by early 2016 which will produce the saffron of the finest quality to cater to its domestic and even export requirements. At the inaugural session of National Conference on Cold C…
Need for grass root, frugal innovations for start-ups | Ashutosh Sharma | Science Secretary
Science and Technology Secretary Ashutosh Sharma said frugal innovations are critical for finding grass root solutions to the economic and societal problems. But frugal innovations had to maintain their functionality, quality and accessibility to promote sustainable development, he told a Global …