Exports grow for 3rd month in a row, trade deficit rises

India’s exports grew for the third straight month, rising 2.6% to $35.2 billion, while imports increased 5% $56.2 billion. As a result, trade deficit rose to $21 billion, compared with $19.2 billion a year ago. The engineering goods, whose exports rose over 10% to $9.4 billion in June and electronics (16.9% to $2.8 billion), were […]

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Industry body urges FM to continue 45-days MSME payment rule for buyers

SME Chamber of India argues that provision serves as incentive for companies to adhere to payment timelines, thereby supporting MSMEs’ financial health. The Chamber has urged Finance Minister, mt. Nirmala Sitharaman to continue the 45-days MSME payment rule for corporates and other buyers. According to Section 43B(h) of the Income Tax Act, introduced through the […]

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MSMEs urge RBI for a liberalised NPA classification policy for banks

The sector has been struggling for financial support and deriving the advantages of facilities offered by financial institutions. As a part of their pre-budget meeting with Reserve Bank of India (RBI) mandarins, MSMES sought the central bank to amend its NPA classification policy. The Union Budget will be presented by the Finance Minister, Nirmala Sitharaman […]

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SBI launches new 15-minute facility for MSMEs to avail loan against sales invoices

MSME Sahaj will help MSMEs to avail credit against their Goods and Services Tax (GST) registered sales invoices of up to Rs.1 lakh in less than 15 minutes. Public sector lender State Bank of India (SBI) on Monday announced MSME Sahaj, an online business loan solution for MSMEs to avail credit against their Goods and […]

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With geo-political concerns, engineering firms nudge suppliers to ‘Make in India’

In a bid to find a long-term fix to unrelenting geo-political concerns, Indian engineering and capital goods firms are looking to ditch foreign suppliers and plan to collaborate with Indian entities instead. Executives from these companies termed it an attempt to secure supply chains and cut down the transit time. If it works, one need […]

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4.05 lakh businesses based in State closed since GST rollout

Ahmedabad: While the goods and services tax regime aimed at improving business ease and simplifying taxes, some 4.05 lakh businesses closed after the new regime was rolled out. According to data from the State Commercial Tax Department, 4.05 lakh GST identification numbers (GSTINs) have been cancelled so far, implying that these many businesses either shut […]

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SME BUSINESS FORUM

Mr. S. Maheshkumar, Director – SME Chamber of India and SME Business Forum delivering the closing remarks Mr. Vinay Pandya, Managing Partner, Mantraa Advisory addressing the delegates on Alternate Funding options available for SME’s (IPO & Equity Funding) Mr. Stanley Dubier, Managing Director, Stanesh Semiconductor Pvt. ltd. addressing the delegates on SME and Electronic Components […]

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INTERACTIVE MEETING WITH MINISTER OF STATE FOR SOCIAL JUSTICE & EMPOWERMENT

Shri Chandrakant Salunkhe, Founder & President of the SME Chamber of India and Maharashtra Industry Development Association, felicitates Shri Ramdas Athawale with flowers on his appointment as Minister of State for Social Justice & Empowerment, Government of India on 28th June 2024 at New Delhi

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MSME Day 2024: Govt launches Rs 277 cr scheme to help MSMEs get on ONDC; Yashasvini campaign for women-led units

MSME Day 2024: Commemorating the MSME Day 2024 on Thursday, MSME Minister Jitan Ram Manjhi launched a new Trade Enablement & Marketing (TEAM) scheme with an outlay of Rs 277.35 crore for three years (2024-27) to boost e-commerce access for MSEs (micro and small enterprises) via the government’s open e-commerce network Open Network for Digital […]

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