MSMEs contribute 45% of the total industrial output constituting 40% of the country’s total exports. The sector employ about 60 million people and create 1.3 million jobs every year. No wonder the Government has launched so many initiatives like Mudra Bank, Stand Up India, Start Up India, Pradhan…
Tag: MSME Ministry
Policy changes to bring more startups in medium industry
The government is considering policy changes to broaden and energise one of PM Narendra Modi’s pet initiatives, Startup India, to include a bigger number of startups under the ‘medium industry’ category that would be eligible for public procurement incentive and preferential ben…
Need for tweaking laws and rules for preventing NPAs in MSMEs
The Micro, Small and Medium Enterprises (MSMEs) are the largest vendors for the Union and State governments in defence, aeronautics, electronics, safe drinking water equipment and services, medical and pharmaceuticals, solar equipment and servicing. The MSME Development Act (MSMED) also provided …
Set up panels to identify credit-worthy MSMEs | Bank of Maharashtra
As stressed assets mount and banks increasingly face questions about lending to sick units, credit challenges facing the MSME sector could mount. As it is, the sector accounts for 45 per cent of Non-Performing Assets (NPAs). At an Assocham event on ‘Financial Clinics for MSMEs’ here recently, Kal…
Digital thrust to MSME sector to speed up its growth | MSME Secretary KK Jalan
The NDA Government at the Centre has given a major thrust to the Ministry of Micro, Small and Medium Enterprises (MSME). This is one of the core areas for “Make in India” programme launched by the Prime Minister Narendra Modi. KK Jalan, Secretary of the Ministry has been piloting vari…
Engineering college sets up business incubation centre
S.A. Engineering College, Chennai, has set up an incubation centre for entrepreneurship development on its premises. The centre functions in association with the Ministry of Micro, Small Medium Enterprises, the Bharatiya Yuva Shakti Trust, the Confederation of Indian Industry, ITCOT, EDI, SIDCO a…
Ratings are good but not mandatory for majority of MSMEs | K K Jalan, MSME Secretary
SMEPost Exclusive “Evidence says procurement for SMEs is on course & will only get better” Barely about three months into the new job, K K Jalan, Secretary, MSME Ministry is pretty comfortable articulating his stance on all complex issues facing the sector. Buoyed by the potential of his univ…
Leverage technology to enable good governance and employment generation: MSME Ministry
The MSME Ministry has emphasized on the need for using information technology for good governance and employment generation in the sector. Addressing a meeting of senior officers of The Ministry, Micro, Small & Medium Enterprises (MSMEs) Kalraj Mishra expressed satisfaction that Udyog Aadhaar…
Rs. 200 crore for Performance & Credit Rating Scheme to enable MSME credit access
Union MSME Minister Kalraj Mishra addressed a post-Budget press conference on March 08, 2016 in New Delhi and announced an all-time high budget of Rs. 200 crore for Performance and Credit Rating Scheme for financial year 2016-17. The allocation would enable units to be ready for accessing credit.…
MSME Ministry targets jobs for 4,25,000 persons under PMEGP scheme
Revealing the plans of his Ministry for financial year 2016-17, Union MSME Minister Kalraj Mishra in a press conference held in New Delhi on March 08, 2016 said that Rs. 1,139 crore has been allocated under the Prime Minister’s Employment Generation Programme (PMEGP). This is expected to generat…