Page 3 - Indian Micro News Today

Karnataka Bank and Clix Capital Form Co-Lending Partnership - Karnataka Bank (KBL), a prominent private sector bank, and Clix Capital, a rapidly expanding new-age Non-Banking Financial Company (NBFC), have...

Ethical consumerism is gaining ground across the world, and along with it comes regulation from the global North that seeks to ensure their businesses engage with suppliers observing better human rights and environmental practices.

Anil Bhardwaj, secretary general, Federation of Indian Micro and Small & Medium Enterprises (FISME), said that product-wise data will help industry gain concessions in Indias free trade agreement negotiations and help improve its market access, policy making and competitiveness. This assumes significance as many of Indias FTAs have separate chapters on MSMEs. "We will get state and cluster-wise data, which would also help formulate export promotion schemes," Bhardwaj said.

The Indian government is considering measures to boost MSMEs, including integrating them with international markets, digital support for global competitiveness, easing GST compliance, and providing low-cost credit. These measures are expected to be announced in the interim budget on February 1. The government aims to make MSMEs globally competitive and reduce the high cost of credit, which is a major obstacle to their growth. Details of the schemes may be unveiled in the full budget for 2024-25 ...

While insurance is key for MSMEs to increase their export competitiveness, companies also need to increase awareness about their products among small businesses.

The sluggish and ineffective legal system in India hampers entrepreneurial growth and adversely affects the MSME sector, FISME said.

The Moneycontrol Policy Next MSME Summit, on June 28, will explore what more can be done at the policy level to aid the over six-crore-strong MSME universe.

Technology advancements in the manufacturing sector are increasingly pushing MSMEs to embrace innovative manufacturing tools under the umbrella of Industry 4.0. However, MSMEs in India face an uphill battle in adopting industry 4.0 technologies. The key question remains: Can MSMEs keep up with the pace of technological advancements?

BW SME World presents its 5th Edition of Emerging Business Summit & Awards to celebrate and recognise the best-emerging businesses in India, , msmes

While the government has made e-invoicing mandatory for firms with turnover above Rs 5 crore, stakeholders say such firms would face challenges in implementing the technology.