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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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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MSME Day 2024: Why celebrated? Know history, how it differs from Small Industry Day

According to the United Nations Conference on Trade and Development, formal and informal MSMEs make up over 90% of all companies worldwide, average of 70% of total employment and 50% of GDP. MSME Day 27th June 2024: World MSME Day is celebrated annually on June 27, designated by the United Nations General Assembly and dedicated to […]

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Centre To Launch Trade Marketing Scheme to help Small Enterprises to Join ONDC

The MSME Ministry has proposed the Trade Enablement & Marketing Scheme to help MSEs onboard ONDC. The MSEs will be provided subsidies via seller network participants to help cover costs for services like creating catalogues, managing accounts, packaging, and logistics. Earlier this year, ONDC also launched the Digi Ready Certifications (DRC) portal for the MSME […]

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Govt. plans telecom PLI scheme revamp, may focus on MSMEs and exports

The Government is planning to revamp the production-linked incentive (PLI) scheme for the telecom sector in a bid to quickly boost exports and incorporate more micro and small units into the manufacturing ecosystem. Funding for the expanded scheme may not be a challenge since the Department of Telecomm­unications (DoT) has surplus funds of more than […]

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SME IPO Fundraising in Early 2024 Reaches Rs 3,000 Cr

Record-Breaking Fundraising in First Half Since SME Platform Launch In the first half of 2024, fundraising through initial public offerings (IPOs) of small and medium enterprises (SMEs) has achieved a significant milestone, reaching Rs 3,095 crore by June 13. This amount is approximately two-thirds of the total Rs 4,686 crore raised throughout 2023, marking the […]

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INTERACTIVE MEETING WITH UNION MINISTER OF MSME

Mr. Chandrakant Salunkhe, Founder & President, SME Chamber of India & Federation of Indian SME Associations felicitated Mr. Jiten Ram Majhi, Union Minister for MSMEs on his appointment as a Minister. Mr. Salunkhe had briefed about the current economic scenarios of MSME sectors, their issues, hurdles for further growth, various initiatives to be taken to […]

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India’s Industrial Production Growth Slows to 4.9% in March 2024

India’s industrial production growth rate dipped to 4.9% in March 2024, down from 5.7% in February. Whereas, the manufacturing sector saw a growth of 5.2%, slightly up from 5%. Key contributors to this growth included the manufacturing of basic metals, pharmaceuticals and medicinal products and other transport equipment. Notable growth is Manufacture of basic metals, […]

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MSME jobs in India cross 19-crore mark: Govt data

This included 4.27 crore women employees and 2.15 crore employees in enterprises not covered under the Goods and Services Tax (GST) regime or exempted from the CGST Act, 2017 and the job count has grown 6.8 times. The revision in the definition of MSMEs provided ease in doing business and promoted investment and employment. Moreover, […]

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