NATIONAL
UNIDO asks India to Insert CSR in Cluster Development Schemes
A UN body has asked India to modify a Rs 6,000-crore cluster development scheme for micro, small and medium enterprises, making them shoulder the corporate social responsibilities, including environment-related issues. The United Nations Industrial Development Organisation (UNIDO) suggested the government that it should, "suitably modify the existing cluster development schemes by various ministries to include socially and environmentally relevant activities, thus fostering inclusive growth.The government has made a provision of Rs 6,000 crore during the Eleventh Five Year Plan for improving infrastructure in different clusters of Micro"
More…
State Bank of India Hopes to Raise Bengal SME Loans
Despite the global downturn, the Bengal circle of State Bank of India (SBI) has set a target of Rs 2600 crore of disbursals to small and medium sector enterprises (SMEs) this financial year. In the Bengal circle, SBI had advanced Rs 8270 crore to the SME s ector as on October 31, 2008, up from Rs 7200 crore achieved in the corresponding period last year.
According to Jayanta K Sinha, chief general manger of SBI - Bengal Circle, the bank has already disbursed Rs 1,000 crore for SMEs this year, and is confident of disbursing the remaining Rs 1600 crore by March 2009. "We will continue to focus on lending to the small and medium
More…
New Refinancing Window a Boon for SME Sector
The new Rs 7,000 crore refinance window opened by RBI(Reserve bank of india) has come as a ray of hope to the beleaguered and cash-starved micro and small enterprises (MSEs) sector, which account for 39% of India's manufacturing output. The Small Industries Development Bank of India (Sidbi) on Saturday said it will soon put into motion the refinance window soon after its board meets next week to work out the operational modalities. The facility would be available for incremental loans, which will be computed on the basis of outstanding as on September 30, 2008, the RBI said. The RBI decision would definitely increase loans
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Medium, Small and Micro Enterprises Feel Small
The medium, small and micro enterprises (MSMEs), which account for over 40 per cent of India's industrial production, are unhappy over the fiscal measures that were announced today. Industry representatives from these sectors are likely to meet Prime Minister Manmohan Singh on Monday to present their unmet demands. "The measures may be incremental but inconsequential," said Anil Bharadwaj, secretary general, Federation of Indian Micro and Small and Medium Enterprises. The MSME sector employs 31 million people in about 10 million units spread across the country.The sector has been hit hard by the liquidity More…
Fiscal Package Welcome; 4% Cut in Excise Duty
Welcoming the fiscal stimulus package announced by the government
today, the CII (Confederation of Indian Industry) President,
Mr K V Kamath said that "with the fiscal package and the monetary
policy announcements made by RBI yesterday, the authorities
are sending a clear message from the government and the regulators
that a multi pronged approach is being adopted to ensure that
the impact of the global slowdown on India is managed in an
orderly way and India continues to record reasonable growth
rates. This package is welcome" Mr Kamath went on to say "This
package does address the issues of the MSMEs More…
Govt Bets on Tax Cuts, Spending for Growth
The government
today slashed Central value added tax (Cenvat) by four percentage
points across the board to boost demand and announced Rs 20,000
crore additional non-plan expenditure as part of a much-anticipated
package to stimulate the economy hit hard by the global financial
crisis. The 10-point package - part of a coordinated effort
involving the Reserve Bank of India that slashed key lending
rates yesterday - targets infrastructure, exports, housing,
auto and small and medium industries through at least Rs 30,000
crore worth of additional funding, duty cuts and guarantees.
The cut in excise duties will mean
More…
Prime Minister Assures Small and Medium Industry of Continued
Support
Prime Minister Manmohan Singh Monday assured micro, small and medium enterprises (MSMEs) of the government's support to weather the global financial crisis. Addressing the members of the All India Confederation of Micro, Small and Medium Industries Associations, who called on him, the prime minister, said a committee of officers, set up under the cabinet secretary, will look into the issues raised by MSMEs, and submit its recommendations to the government within a fortnight.
He added that the government was committed to inclusive growth and would continue extending support to the MSME sector
More…
Guarantee Limit for MSMEs Raised to Rs 1 cr
The government
on Sunday raised the guarantee limit that could be availed
by the fund-starved micro and small enterprises from Rs 50
lakh at present to Rs 1 crore, seeking to boost bank credit
to the sector. The guarantee cover for the amount up to Rs
50 lakh would continue to be 75% of the loan. For loans of
more than Rs 50 lakh and up to Rs 1 crore, the guarantee will
be 50%. In another move to encourage banks to increase their
exposure to the sector, the government has reduced the lock
in period for loans under existing credit guarantee scheme
from 24 months at present to 18 months. More…
Local
Manufacturers now Eye Global Market Share
Even as Cuttack moves ahead on the path of developing into
the 'spice products' capital of the country within the next
few years, manufacturers here have begun to train their eyes
on the global market. Serious efforts are underway to not
only improve quality and packaging, but also designing products
on specific formulations suited to the tastes and culinary
styles of various countries. In the first phase, the 'spice
cluster,' promoted by the Union Micro Small and Medium Industries
Ministry and involving all the spices manufacturers in and
around the city is set to establish a qualitytesting laboratory,
cold-storage, a modern More…
Committee
of Secretaries to Look into MSMEs' Demands
A day after
the stimulus package was announced, Prime Minister Manmohan
Singh today directed the Committee of Secretaries (CoS) to
consider helping the micro, small and medium enterprises (MSMEs),
which employ over 42 million people and are vulnerable to
the global slowdown.After a meeting with the MSME associations,
the PM asked the CoS chaired by Cabinet Secretary K M Chandrasekhar
to submit its recommendations to the PMO within a fortnight.
The PM assured the associations that the government would
go into the merit of each of their demands and do whatever
possible within the existing framework. More…
United
Bank of India to Restructure SME, MSME Accounts
United Bank of India (UBI) would restructure Small and Medium Enterprises (SMEs) and Micro Small and Medium Enterprises (MSMEs) accounts, hit hard by the present global meltdown, from turning into non profitable assets. UBI Chairman and Managing Director, Mr S C Gupta on Saturday said that the bank would set up a separate cell for this which would be headed by a general manager and two AGMs.
He said that UBI plans to help these accounts either by additional dose of finance or reduction in margins, so that they were not unduly affected by the present turmoil. Mr Gupta told a session at Merchants' Chamber More…
SME
Cluster Programme Being Redrawn with United Nations Industrial
Development Organisation (UNIDO) Help
The contours
of cluster development programme for small and medium enterprises
(SMEs) look set to be redrawn under joint programme of the
department of industrial production and promotion (DIPP) and
the United Nations Industrial Development Organisation (Unido).
Eight clusters have been identified and an action plan for
integrated development of these as model clusters would be
announced soon. The Integrated Cluster Development Programme
(ICDP) would have clear actionable and deliverable agenda
with timelines for achieving them. It is intended that the
implementation of the action More…
World
SME Conference Receives Rousing Reception December 13, 2008
(India)
The first Milagrow
World SME Conference opened today to a massive reception.
The session opened with the release of the Milagrow Knowledge
Cluster Study involving 3000 MSMEs in 11 clusters conducted
across 4 states. Two other research studies were also released
at the conference - Milagrow Knowledge Efficacy of Govt. Backed
Initiatives study and the Milagrow Knowledge Women Entrepreneurs
in Hyderabad Cluster study. Shri. Jairam Ramesh, Minister
of State for Power & Industries and Commerce graced the occasion
and enthralled the audience with his insight into the present
condition of the MSME sector in India. More…
INTERNATIONAL
Research
and Markets: This SME Monitor 2008
Research and
Markets (http://www.researchandmarkets.com)
has announced the addition of the "SME Monitor 2008" report
to their offering. The SME Monitor is a syndicated survey
among Key Decision Makers at Small and Medium Business Enterprises
(SMEs). Today SMEs are among the fastest growing industrial
sectors in the country and account for 40% of India's industrial
output. We foresee that with rapid expansion, the SMEs will
look towards professionalization, expansion and establishing
their presence. Keeping this in mind Nielsen has brought out
the SME Monitor study.The report represents the views of 1520
Key Decision More…
Jamaica Gov't Looking to Merge Agencies that Offer Small
Business Loans
The Government
is looking at merging some of the agencies that offer loans
to small businesses in its bid to continue to promote entrepreneurial
development in Jamaica. This is according to State Minister
in the Ministry of Industry, Investment and Commerce, Michael
Stern, who was speaking at the Technology Innovation Centre's
(TIC) annual Client Company Awards Ceremony, at the University
of Technology (UTech) campus yesterday (Dec. 8). "We are now
doing that assessment to cut out some of the bureaucracy,
so instead of you going to several agencies for different
loans, it will be offered under one umbrella, More…
The Department of Trade and Industry of
Philippine Awarded Outstanding Local MSMEs
The Department
of Trade and Industry (DTI)-Samar awarded Charito's Delights,
makers of traditional Samar delicacies and Mom's Grocery as
Outstanding (Micro-Small and Medium Enterprises (MSME)s in
Samar. Charito's Delights also garnered the regional nomination
to the national awards as an outstanding MSME. Their certificate
was signed by DTI Secretary Peter Favila. The awarding rites
coincided with the First MSME Congress held today, at the
Cocina de Cabral, Catbalogan City, attended by the whole DTI
family with OIC Regional Director Desiderio Belas and fomer
Regional Director now the Presidential Assistant More…
New Firms in Malaysia to Increase by 10%
A media and entertainment
company (Sdn Bhd) expects a 10% increase in the number of
companies housed at Cyberjaya next year, its managing director
Redza Rafiq said. Cyberview, a government-linked company,
was formed to undertake the development of Cyberjaya as a
global Information Communication Technology (ICT), multimedia
and services hub. Redza said that despite the current uncertainty
in the global economic market, he was confident of achieving
this target based on the excellent infrastructure and eco-system
support offered by Cyberview. Cyberjaya, at the center of
the Multimedia Super Corridor (MSC) Malaysia, More…
Federal Government of Nigeria Reiterates Faith in Industrial Cluster Concept
The Federal Government yesterday
said it had adopted the cluster concept as the nation's industrial
development strategy. There had been fear that the concept,
which was introduced by immediate past minister, Mr. Charles
Ugwu, would be changed when he left office two months ago.
But the supervisory minister for the ministry. Dr. Aliyu Idi
Hong, said yesterday in Abuja (Nigeria) that the concept had
been adopted by the Federal Executive Council (FEC) and would
remain. The concept is based on the logic of developing industries
around pooled infrastructure, including roads, electricity,
water supply and sewage treatment, More…
ARTICLES
Indian Exporters Seek Stimulus Package
Expressing
concern over global economic slowdown that has started affecting
Indian industry and the economy, exporters on Friday urged
the Centre to announce a stimulus package to boost the economy,
particularly the export-oriented sector. Hoping that the Government
would soon announce a package to pump in money into the economy,
Federation of Indian Export Organisations (FIEO) President
G. K. Gupta said that in the present circumstances, micro,
small and medium enterprises (MSMEs) were badly hit due to
higher interest and lending rates, particularly those engaged
in the export sector. More…
SIDBI Will Ensure
that Banks Pass on Benefits to Borrowers
With the Rs 7,000-crore refinance
window, micro, small and medium enterprises (MSMEs) will not
face any fund crunch, says Sidbi Chairman and Manging Director
R M Malla. In an interview to Sidhartha, the Sidbi chief tells
how demand will also rise after the recent government-RBi
stimulus package. Excerpts: How will the refinance scheme
work? The RBI support will go a long way in providing low-cost
funds to Sidbi and help in augmenting credit flow to micro
and small enterprises. We will use the funds for our direct
lending and also for refinance to commercial banks, state
finance corporations (SFCs) and non-banking finance companies
More…
Minimise the Risk of Unexpected
Shocks
What
classifies as a disaster for one company can be very different
to another. Small businesses make up 99% of all businesses
in the UK, yet it is widely accepted that fewer than half
of these organisations have a plan in place should disaster
strike. In the past high profile incidents such as the Buncefield
oil depot explosion and the London bombings have brought sharply
into focus the importance of business continuity plans to
all sizes of business. However, it is the more mundane incidents
such as power outage, flood, fire, or computer virus which
are far more likely to affect small businesses.What classifies
as a disaster More…
Government Announces Measures
for Stimulating the Economy
The Government has been concerned about the impact of the global financial crisis on the Indian economy and a number of steps have been taken to deal with this problem.
The first priority was to re-assure the people of the stability of the financial system in general and of the safety of bank deposits in particular. To this end, steps were taken to infuse liquidity into the banking system and also to address problems being faced by various non-bank financing companies. These steps have ensured that the financial system is functioning effectively without suffering the kind of loss of confidence experienced in the industrialised world. More…
Towards a New Industrial Policy
Bangladesh
has enjoyed high single-digit industrial growth in manufacturing
and service sectors during the past decade, with the private
sector contributing increasingly to the manufacturing value
added, relative to the public sector. The manufacturing and
service sectors contributed approx. 26% and 52% respectively
to GDP in fiscal 2007-08. Structural adjustment reforms such
as privatisation, outward-orientation, and deregulation have
enabled an improved business climate. The fundamental steps
of the economic transformation have been taken. We have come
a long way from the nationalisation of private industry More…
EVENTS
National Level Vendor Development Program-Cum-Exihibition
Date: 30th December, 2008
Venue: Auditorium of IITF, Milan Mela (opp. Science City, E.M. Bypass)
Objective:
(1) To promote Micro, SSI & Medium units as Vendors of Large
Scale Units/PSUs
(2) Highlighting the purchase procedure of Buyers.
(3) Interaction between buyers & Sellers
Organizer:
Micro Small & Medium Enterprises Development Institute, Kolkata
in association with Bengal National Chamber of Commerce &
Industry, Kolkata
Source: http://sisikolkata.gov.in
Entrepreneurship Skill Development Programme
Date:
26.12.2008
Venue
: Kollam
Objective:
Inputs and Guidance to start on Micro/Small Enterprise
and Skill Development
Organizer:
MSME Development Institute, Thrissur
Source:
http://www.msmedithrissur.gov.in
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