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Union Minister for Micro, Small & Medium Enterprises Nitin Gadkari attended a virtual summit on March 05 and said, “Our village industry turnover is Rs 88,000 crores, my highest priority is to take it to Rs 5 lakh crores within five years. It is an important mission for me.”
Private banks and public sector banks (PSB) have seen a surge in growth in the June and September quarters, while non-bank financial companies (NBFCs) show a muted growth, the report said.
The digital fintech company saw a much higher adoption of digital payments in Tier 2 and Tier 3 cities in the aftermath of the virus outbreak.
Atal Innovation Mission boasts of several unique measures to spur innovation across India’s hinterlands and help MSMEs.
With the establishment of 2.5 acre 'Bot-Valley', Addverb aims to make India the capital of global robotics in the World -- a place where ‘robots build robots’.
Piyush Goyal proposes uniform rate card for testing facilities for industry, TUFS like scheme for MSMEs
The minister, who holds the charge of ministries of commerce, railways and consumer affairs, also asked the Department for Promotion of Industry and Internal Trade (DPIIT) to consider for the micro, small and medium enterprises a Technology Upgradation Fund Scheme (TUFS) kind of scheme that textiles sector has, to help MSMEs upgrade their quality.
This partnership will provide technical assistance such as business advisory, capacity building, digital skills, and market linkages, in addition to ensuring better and equal access to social protection systems for the informal sector workers.
Thrift shop: From furniture to cars, India’s second-hand market found its shining moment in the pandemic
The transition of pre-owned goods market from the unorganized to the organised sector in India appears to have had fruitful results last year.
The entities signed a memorandum of understanding (MoU) for co-operation in various ongoing micro, small and medium enterprises (MSMEs)-related initiatives of the two institutions, the NSE said in a statement.
Businesses partnering with Cashfree can activate One Touch payments that would let their customers stay logged in and check out with a couple of clicks.
In his over 17 years of experience, Amit Gupta worked with large multinational & domestic banks, global real estate consultancy and marquee real estate fund.
The minister said the government's initiatives such as collateral-free automatic loans for business, including MSMEs, and Rs 50,000 crore-equity infusion through MSME Fund of Funds, which benefits companies with higher credit ratings, will generate tremendous business opportunities.
Compared to international markets, MSMEs in India, due to the lack of access, have relied more on informal sources of credit.
The latest MCCIA survey of industries in Pune indicated that 51% companies had reached production at pre-Covid levels and 20% more were set to achieve it by May.
There is a dark chocolate movement brewing and the craft chocolate brands across the country are coming up with some innovative products.
"Toy manufacturing clusters should be developed by State Governments to attract international players to set up their manufacturing base in India," Commerce Secretary Anup Wadhawan said. The Secretary also emphasised on the promotion of toy-based tourism, local toy banks and libraries.
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