Finance Minister Arun Jaitley presented his third and full time second Union Budget. With a demand of supporting “Make in India” campaign and small and medium businesses, he announced a slew of schemes and tax exemptions. The Union budget has focused on farmers, rural infrastructure, agriculture,…
Tag: MSMEs
RBI had constituted a working group on rehabilitation of sick SMEs
The Reserve Bank of India had constituted a Working Group on rehabilitation of sick SMEs, under the Chairmanship of Dr. K. C. Chakrabarty, the then Chairman & Managing Director, Punjab National Bank, to look into the problems faced by new as well as sick SMEs and suggest remedial measures. Th…
IndiaMART raises series-c funding to help Indian MSMEs
IndiaMART announced fund raises by Amadeus Capital with participation from Westbridge Capital, the Accion Frontier Inclusion Fund, managed by Quona Capital in addition to Intel Capital, the existing investor in the Company. India’s largest online marketplace will use the funds raised to further s…
National Manufacturing Competitiveness Programme to enable & empower SMEs
In a press conference held at New Delhi on March 8th 2016, Ministry of Micro, Small and Medium Enterprises briefed that Rs. 52 crore will be allocated under National Manufacturing Competitiveness Programme (NMCP) during the financial year 2016-17. Union Minister Kalraj Mishra sought for a develop…
Egypt to provide duty free access for Indian companies
Egypt, often viewed India’s gateway in North Africa, is now providing duty free access to European Union, North America, Arab and African markets for the Indian companies. Addressing a business meet in Kolkata last month Egyptian Ambassador to India Hatem Tageldin said that 52 Indian compan…
Vermillion sets Rs 100 Crore loan disbursal target
Vermillion Finalytics, which runs the online portal LoanXpress, has set itself a loan disbursal target of Rs 100 crore for the current fiscal. The Mumbai-based company has sanctioned a dozen loans amounting to Rs 32 crore since its launch in November 2015, its Founder Pratapsingh Nathani told. &#…
Govt keen to fulfill PSUs’ purchase target from MSMEs
The Union ministry of Micro, Small and Medium Enterprises (MSME) is working for Public Sector Enterprises to achieve the target of 20% procurement of their annual purchase from Micro and Small Enterprises (MSE). Inaugurating the three-day Vibrant SME 2016 Industrial Expo and Growth Forum in Chinc…
A new hope eMERG(es) for women entrepreneurs
eMERG (Engineering Manufacturer Entrepreneurs Resource Group) was established in 2006, when seven women from the fields of electronics, mechanical engineering, and manufacturing came together to equip women with skill capabilities that would help them join the industrial workforce. Of the seven f…
Expert sees bright scope for startups in pre, post-harvest technologies
Increased allocation to agriculture by 84 per cent and resolve to double income in five years will see lot of opportunities by technocrats and management graduates in startups in pre and post-harvesting technologies, says Executive Vice Chairman of Vizianagaram-based Vijaynagar Biotech Ltd and no…
MSMEs need to tap procurement policy
The number of micro, small and medium enterprises in Rajasthan enrolled with the National Small Industries Corporation to participate in tenders floated by various government departments and PSUs is small even though the public procurement policy offers them opportunities to get bulk orders, a to…