The Chennai floods have had a devastating impact on small scale industrial units that supply mostly to auto makers like Hyundai, TVS and Ashok Leyland. Small and tiny sector businesses are estimated to have suffered over Rs 1000 crore damage to machinery and materials. Muthusami C., President, TA…
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Shriram Transport Finance to offer SME loans
Shriram Transport Finance has opened a new avenue for growth by financing smaller business needs of its old and loyal customers. It has entered into SME loans segment six months ago. The non banking finance company expects about 10 per cent of its existing customer base of two million to boost it…
Govt protection to steel cost SMEs dearly | EEPC India
Massive price protection to the mega steel corporations through 20 per cent safeguard duty has dealt a severe blow to a large number of small and medium enterprises in a host of user industries which are forced to pay much higher price for the basic raw material and have become un-competitive in …
Haryana MSMEs win most national awards
Industrial units of Haryana have bagged maximum national awards in the categories of micro, small and medium (MSME) enterprises announced by the Central government. State industries minister Capt. Abhimanyu said that it is a big achievement for Haryana as out of the total 37 national awards annou…
NITI AAYOG for easier start-up norms
The NITI Aayog has called upon the government to further improve the ease of doing business, to boost the culture of start-ups in the country. It also released the report of an Expert Committee on Innovation and Entrepreneurship. The report said the government should digitise all its departments …
‘Make in India’ should be ‘Made by India’
The Next Wave’, Make in India provided the right platform for SMEs in the country to foster indigenous manufacturing in a bid to boost economic growth, Lord Kumar Bhattacharya, Chairman, Warwick Manufacturing Group, said at a CII conclave. India’s future should be to lead global innovation and it…
AskmePay offers financing options to SMEs
AskmePay, the payment initiative by AskMe group, has announced the rollout of a wide portfolio of financing options to the SMEs with the launch of its new programme ‘AskmeFin’. This is in line with the group’s ‘Grow with Us’ campaign launched earlier this month and i…
Facebook sets up SME Council in India
Social media giant Facebook, which has over two million Indian small and medium businesses (SMBs) on its platform, has set up a SME Council to h#elp small ventures from various industries share feedback and discuss ideas around leveraging technology to grow their enterprise. This is the second SM…
NALCO to boost domestic MSMEs in Orissa
Aluminium major Nalco on Tuesday stated that it would soon bring out a focused MSME procurement policy directed at giving a boost to domestic medium and small scale enterprise in Odisha. The Central PSU procures more than 400 crore worth of goods and services from MSMEs. A focused policy with em…
Over 5 lakh sick units in MSME sector as of March 2015 | Giriraj Singh
As per provisional data compiled by the Reserve Bank of India (RBI) the number of sick micro, small and medium enterprises (MSMEs) in March, 2015 was 5, 37, 286. This was informed by the Minister of State, Micro, Small and Medium Enterprises, Giriraj Singh in a written reply to a question in Lok …