Category: MSME

 Whole-time Member of the Securities and Exchange Board of India (SEBI), Ashwani Bhatia on Friday sounded a cautionary note on listings and fundraising by small and medium enterprises (SMEs), amid instances of manipulation and fraudulent practices. Speaking at a conference held by the Institute of Chartered Accountants of India (ICAI), Bhatia stressed that such cases […]

Gujarat crossed the 20 lakhs Udyam MSME registration mark on Friday, making it the fifth in the country in terms of total registrations. Maharashtra, Tamil Nadu, Uttar Pradesh and Rajasthan are ahead of Gujarat. Out of 20 lakhs, Gujarat has 19.10 lakhs micro, 81,841 small and 8,460 medium units. Gujarat is ranked second after Maharashtra […]

Small and medium-sized enterprises (SMEs) in South Africa continue to face a business landscape that is simultaneously full of challenges and brimming with opportunities. A still-struggling economy, rising costs, high unemployment figures and an uncertain political future have created a business backdrop against which only the most resilient and innovative businesses will thrive. At the […]

The Bombay High Court observed that the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 (MSMED Act) has an overriding effect over Arbitration and Conciliation Act, 1996 (A&C Act) only when the disputes between MSMEs are covered under Section 17 of the MSMED Act. The Court clarified that the dispute between the parties was […]

Jaya Vaidhyanathan, CEO, BCT Digital. Budget 2024 has introduced nine main priorities to boost the economy, including notable rewards for taxpayers who have opted for the new regime. From a banking and fintech perspective, it has tabled several positives: The emphasis on Digital Public Infrastructure for applications, including credit, is welcome. It will help formalize […]

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, Smt. 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 […]

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 […]

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 […]

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 […]

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 […]