National
Govt okays Rs 420 cr Cluster Development Schemes
The government today approved the comprehensive powerloom,
handloom and handicraft cluster development schemes worth
Rs 420 crore in five states-Maharashtra, Tamil Nadu, Uttar
Pradesh, Assam and Andhra Pradesh. The Cabinet Committee on
Economic Affairs (CCEA) gave its approval to the implementation
of the powerloom cluster development scheme at Bhiwandi in
Maharashtra and Erode in Tamil Nadu with a budget provision
of Rs 70 crore for each cluster during the 11th five year
plan. The aim is to assist the entrepreneurs to set up world-class
units with modern infrastructure, latest technology, and adequate
training
More…
India's Premier MSME Business Plan Challenge- Sankalp 2009 Launched
India Development
Gateway (IDG), an innovative online portal, announced the
launch of its first nationwide MSME (micro, small and medium
enterprise) business plan challenge- Sankalp 2009 (www.indiadevelopmentgateway.com)
on Nov 11th 2008. The competition running on IDG's online
platform aims to increase investments in, and build the capacity
of socially relevant MSMEs in India's fast growing social
and environmental sectors. IDG is an initiative housed within
Intellecap, a leading social investment advisory firm in India. Sankalp 2009 is a serious attempt at identifying social enterprise investment opportunities within the Indian MSME space.
More…
SIDBI signs pact with JICA for 30 billion yen
Chennai : Small
Industries Development Bank of India (SIDBI) has signed a
loan agreement with Japan International Cooperative Agency
(JICA) for 30 billion yen (Rs.1, 500 crore). The loan agreement
was signed in Tokyo on Friday. This is part of the Rs. 4,555
crore soft loan package that the Government of Japan agreed
to extend to India when the Prime Minister Manmohan Singh
recently visited Japan. The other projects include Chennai
Metro project, Hyderabad outer ring road project (phase 2)
and Capacity development for forest management and personnel
training project. The loan will be used by SIDBI for financing More…
Banks to set up Entrepreneurship Development Institutes
November 20, 2008,
The banks having more than 15 branches in the state should set up the Entrepreneurship Development Institutes (EDIS) in line with the Rural Development and Self Employment Training Institute ( RUDSET Institute).
While State Bank of India (SBI), Uco Bank, Andhra Bank, Canara Bank and Syndicate Bank have set up such institutes, Union Bank of India has started the process of setting up a similar institute in the state.
Since the state government is focusing on the self employment of the youth and most of the banks have not opened their EDIs, they have been asked to expedite the process, official sources said.
More…
Minister for MSMEs writes to FM seeking 10 pc bank credit for MSMEs
New Delhi (PTI): Expressing fears that the ongoing liquidity crunch could dry up funding sources for small units, Minister for Micro, Small and Medium Enterprises Mahavir Prasad has demanded earmarking of at least 10 per cent of banks credit for the MSME sector.
"While the Reserve Bank has taken required measures to improve liquidity position, there are apprehensions that these measures may not help in enhancing credit availability to this sector (MSME) due to high risk perception of banks towards this sector," he said in a letter to Finance Minister P Chidambaram. Prasad added that there is a general feeling among the MSME sector
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Third Tri-Nations Summit for Small Business Development Inaugurated
November 19,
2008: With the aim of enhancing co-operation between India,
Brazil and South Africa in the field of Small Industries,
the Third Tri-nation Summit for Small Business Development
began in Faridabad. Inaugurating the Summit the Union Minister
of Micro, Small and Medium Enterprises Shri Mahabir Prasad
raised hope that the summit will help the small industries
of IBSA countries to meet global challenges. The Minister
said that in order to achieve this objective, it is essential
to have synergy between the complimentary strengths of MSMEs
of these three countries. This synergy will not only improve
the competitiveness of small
More…
RBI expected to announce financing package for MSME sector soon
New Delhi,
Nov.25 (ANI): The Reserve Bank of India (RBI) is expected
to announce a financing package for the Micro, Small and Medium
Enterprises (MSMEs), as the sector has been facing credit
crunch due to delay in payments and unwillingness on the part
of Banks towards offering loans in the backdrop of current
global financial scenario, said Dinesh Rai, Secretary, Ministry
of MSME, Government of India. He was speaking at the India
Global Summit on MSMEs 2008, jointly organized here today
by the Ministry of Micro, Small & Medium Enterprises, Government
of India & Confederation of Indian Industry (CII).
More…
Agra footwear traders going belly up
November 13,
2008: The pall of gloom is unmistakable at Hing Ki Mandi,
home to some 80 footwear traders. They procure their stock
from the 400-odd manufacturing units spread in and around
the city. Over half of the shoes, slippers and sandals sold
in the country are supplied from here. In the last few weeks,
at least 15 of these traders have declared themselves bankrupt
and have created a hole of around Rs 10 crore in the trade.
Another dozen or so are expected to follow. They are expected
to suck out another Rs 5 crore. Business is down sharply.
Market sources believe that compared to the Rs 750-800 crore
business More…
INTERNATIONAL
SME product showcase set November 10-16
Iloilo City
(5 November) -- Hand-woven fabrics, fashion accessories, home
decors, gift items, furniture and furnishings, and ornamental
plants will be showcased at the Event Center, SM City Iloilo
on November 10-16, 2008. Provincial Director Diosdado P. Cadena,
Jr. of the Department of Trade and Industry-Aklan said the
activity is Sixth Aklan Product Showcase. "This is a joint
project of the Hugod Aklanon Producers Association, Inc. and
the DTI, in coordination with the Aklan provincial government.
Cadena said that during the said event, distinctively Aklan
meat products and delicacies will also be exhibited together
More…
Small traders shown importance of patent
Cebu City,
Philippines 11/18/2008 - Micro, small and medium enterprises
in Cebu and the country are urged to maximize the use of the
intellectual property (IP) system, such as trademarks and
patents, to protect innovation and encourage creativity. Having
a trademark or patent gives more value to an innovation, apart
from allowing the entrepreneur to gain profit from his or
her creativity, said lawyer Adrian S. Cristobal Jr., director
general of Intellectual Property Office of the Philippines
(IP Philippines). "By granting a patent to an inventor of
a new product or technology the exclusive rights for 20 years,
the inventor can continue More…
SMEs are job generators, says gov't official at SM City-Iloilo
Iloilo City
(13 November) -- The Small and Medium Enterprises (SMEs) in
the region are considered job generators. This was emphasized
by Director Diosdado Cadena, Jr. of the Department of Trade
and Industry-Aklan provincial office in an interview with
Iloilo media during the opening of the 6th Aklan product showcase
at SM City-Iloilo. "It is labor intensive and it provides
employment in the countryside," said Director Cadena citing
handcrafted into furniture's which he said it likewise requires
skillful hands to create distinctly unique products that would
catch attention not only in the domestic trade but also in
the international market. More…
DOST provides technical assistance to thousands
of MSMEs in WV
ILOILO CITY,
Nov. 24 - Thousands of micro, small and medium enterprises
(MSMEs) from Western Visayas have availed of technical assistance
from the Department of Science and Technology (DOST) since
the start of the program in 2003. DOST has a major program
known as Small Enterprises Technology Upgrading Program (SET
UP) that covers services like technology transfer, technology
training and consultancy services ranging from productivity
management, food safety and clean production. The latest technology
that will be made available not only to MSMEs, but also to
establishments on energy audit and efficiency. More…
ARTICLES
Economic slowdown -
best time to promote one's brand
Even though
the government is working on a package for the export community,
I feel it would be intelligent enough if we look into our
operating module and make certain adjustments in order to
stay in business with profit margins intact. At a time when
several SME exporters are unable to take the pressures of
shrinking overseas markets and are thus closing shop, e-commerce
can be the best option to cut down costs of operation and
also to get enquiries. This is the time to make new clients
as the older clients are going into their shells and Internet-enabled
tools like B2B can help to explore newer markets and thus
come in touch More…
What Industry Wants
Small and medium enterprises
(SMEs) are the engines of state's economy and an essential
employment-generating sector. Punjab, which is facing stagnancy
in growth of the industrial sector for the past many years,
needs to reshape this sector so that the global financial
crisis does not give it a death blow. The government needs
to address issues of inadequate access to finances, poor infrastructure
and bureaucratic hurdles, The SME sector of the state is largely
dominated by machine tools, hand tools, auto parts, sports
goods, knitwear and textiles industry, besides casting and
food processing units. More…
Company promotes lending method to benefit MSMEs
SMALL entrepreneurs who are
thinking of growing their businesses but lack the finances
do so can now apply for a bank loan without having to worry
about collateral. This, as the Small Business (SB) Corp. introduced
last Wednesday risk-based lending (RBL) in the Visayas. RBL
calls for the modernization of methods used by financial institutions
(FI), including banks, to evaluate small business loan applications.
SB Corp. chairman and chief executive officer Virgilio Angelo
said it aims to increase access of micro, small and medium
enterprises (MSMEs) to financing through the implementation
of RBL, a credit assessment model that focuses More…
The case for ministry to handle small businesses
Written by Kimani Benson November
25, 2008: As we close the Global Enterprise Week and with
a cabinet reorganisation in the cards, it's time to consider
the establishment of The Ministry For Entrepreneurship Development
(MED) in Kenya to focus on the development of micro, small
and even medium enterprises (MSMEs). Mr Barack Obama is now
president elect of, arguably the greatest power in the world,
the US. If there is one great lesson to learn from his journey
to the presidency, it is the supremacy of bottom-up over the
trickle-down approach in achieving any agenda. By mobilising
the bottom of the society's pyramid, More…
EVENTS
Milagrow (Business consulting firm) to organize World SME Conference in December
Date: December
12-13, 2008.
Venue: New
Delhi
Event : The
conference is positioned as a platform for bringing together
specialist organization in the field of Micro, Small and Medium
Enterprises.
Speakers:
Mahabir Prasad, Cabinet Minister, Ministry of MSME; Dinesh
Rai, IAS, Secretary, Ministry of MSME; Jawhar Sircar, Secretary,
Ministry of Culture, Former Special Secretary & Development
Commissioner - MSME; Mr. HP Kumar, Chairman and Managing Director,
NSIC; Ms. Sudha Pillai, IAS, Secretary, Ministry of Labour
& Employmen More…
The World SME Expo in Hong Kong
Date:
10 -12 Dec 2008
Venue
: Hong Kong Convention and Exhibition Center
Event
: An annual exhibition to help SMEs explore international
market opportunities - The 8th HKTDC World SME Expo. The event
is a platform for SME service providers to showcase their
services and business solutions for the unique needs of SMEs.
It is also an international SME marketplace for networking,
business matching, and exchange of ideas and inspiration.
Participant : Overseas and mainland private
enterprises and public bodies are invited to exhibit at the
event. Trade promotion organizations, consulates, trade commissions,
international chambers and world trade organizations. More…
One Day Seminar On Barcoding & Export Procedure
Golden
opportunity for micro, small units to adopt barcoding and
avail government subsidy! latest on export registration procedures
and export potentails.
Date
: 17th December 2008.
Venue:
Hotel white city, North paravoor, Ernakulam
Fee
: Rs.100/- Per Participant.
Register : By post / E-mail / Phone.
Contact
: V.R.Vinod, Asst Director, Ph: 9446100357(M).
E-mail : msmedithrissur@gmail.com
Organizer
: Government of India Development Commissioner (MSME)Ministry
of Micro, Small & Medium Enterprises MSME Development
Institute Thrissur More…
International conclave on SME industry
Time
: December 12th – 13th ,2008
Venue:
Delhi
Event:
First time in India, the event in all its communication
& promotional exercises leading to the event. -The Indian
SMEs are on the threshold of becoming the global leaders in
the near future. The event with the theme of 'Get, Set, Grow'
will help the MSMEs to tap the global knowledge pool and adopt
world's best practices. Exploring and addressing the common
issues faced by Micro, Small & Medium Enterprises to build
a common global platform for growth. -Government machinery
alone not sufficient to bring about the all important changes
in the SME sector. More…
Organizer:
The international conclave of SME industry
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