Economic activities in the cash-driven informal sector may have been adversely affected by demonetisation, but the government does not foresee any major shrinkage in the overall production for FY17. “There might be some short-term contraction in production but as per the information given b…
Tag: MSME
Digital Transformation enabling credit facilitation for the small borrower| Sameer Segal, Co-Founder & CEO, Artoo
Micro, Small and Medium Enterprises (MSMEs) is a heterogeneous segment, where 96% lack access to formal finance. They operate entirely in cash, resulting in an almost non-existent digital footprint. Most borrowers in this segment are first-time loan applicants with limited financial literacy. Lac…
Demonetisation could be a blessing in disguise for SMEs
According to Ministry of Micro, Small and Medium Enterprises, SME sector contributes 45% of the country’s industrial output, 40% of India’s exports, employs 60 million people, creates 1.3 million jobs annually and produces high quality products for the Indian and international markets…
An anti-volatility shield for small players to manage risk
Amidst all policy efforts came one of the results of a litmus test, which showed India jumping 16 ranks to occupy the 39th rank on the World Economic Forum’s (WEF) Global Competitiveness Index 2016-17, becoming the second most competitive BRICS economy. One of the factors on which countries were …
Gujarat: Over 42,500 MSME units reported ‘sick’ in 2016
Despite occupying a special realm in the biennial Vibrant Gujarat summits and being showered with financial sops through a new industrial policy, MSME units in Gujarat continue to report “sick” in large numbers. In 2016 alone, over 42,500 MSMEs units have reported “sick” in the state, which is th…
Single-window clearance facility to entrepreneurs soon: UPSIDC MD
To ease the process of setting up and running businesses in the state, the Uttar Pradesh government will soon provide single-window clearance facilities to entrepreneurs, while projects pending approval at the Uttar Pradesh State Industrial Development Corporation (UPSIDC) head office are expecte…
Digital India: Cabinet okays ordinance to modify the way workers are paid
In a move to promote cashless transaction, the Narendra Modi government decided to bring in an ordinance to amend the Payment of Wages Act for allowing business and industrial establishments to pay salaries through cheques or electronically. According to a report, employers will also have the opt…
Gujarat gets ready to be defence hub, to provide cash subsidy to MSMEs
Aiming to encourage development of aerospace and defence industry in the state, Gujarat government on December 21 announced an investor-friendly Aerospace and Defence Policy 2016. The new policy offers incentives and tax sops with regard to land allotment, stamp duty, registration charges and ele…
WB seeks review of measures to boost entrepreneurship
Kolkata: Starting an outcome audit of sorts, West Bengal Chief Minister Mamata Banerjee has begun to question the impact of initiatives taken by her government to promote the state as business-friendly. She has asked the micro, small and medium enterprises (MSME) department to explain how …
Demonetisation will convert informal economy into organised sector: Assocham President
Prime Minister Narendra Modi’s drive to take the economy into a ‘less cash’ mode through a multipronged strategy would not only check the menace of black money and corruption, but would also convert a large part of the informal economy into the organised sector, according to Assocham President Su…