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Recognizing India' s Micro, Small and Medium Enterprises that have excelled and raised the bar high.

ISSUE DATE: May 10, 2021 UPDATED: May 1, 2021 19:48 IST Workers at Matrix Clothing Factory in Gurugram, Haryana, in February 2021, by Chandradeep Kumar The concern in Prakash Padikkal’s voice is quite palpable. Padikkal, 65, owns Havistha Steel, a company in Navi Mumbai that makes equipment and storage tanks for the chemicals, food and pharmaceutical sectors. Classified as an essential business, Padikkal is allowed to keep work going, exempted from the restrictions in place in Maharashtra, which were just extended from May 1 until May 15. Nonetheless, he says he faces a financial squeeze, w...

Fintech solutions to small business credit woes ET Spotlight All the things I could do if I had a little money” goes a line from the song “Money, Money, Money” by the Swedish pop group ABBA in the 1970s, a humongous success in its time. It is a sentiment those running micro, small and medium enterprises (MSMEs) would heartily endorse. MSMEs are a vast and diverse category of nearly eight crore units contributing around 35 per cent of GDP, but almost all of them have one feature in common – they find it hard to raise finance. Unable to satisfy the rigorous lending criteria of banks and...

Stung by the second wave of the Covid-19 pandemic, small businesses have urged Finance Minister Nirmala Sitharaman to review classification norms for bad loans and rationalise import duty on key raw materials such as iron and steel. The Federation of Indian Micro, Small and Medium Enterprises (FISME) in its suggestions to the finance ministry has said that “more than the requirement of additional funds, the greatest need that has emerged is the flexibility in assigning non-performing assets (NPAs)”. The industry body has said the framework to classify accounts under Special Mention Accoun...

ISSUE DATE: May 3, 2021 UPDATED: April 24, 2021 12:33 IST Sadar Bazaar in Delhi wore a deserted look on April 20 Covid-19 has been compared to the Spanish Flu, which killed an estimated 50 million people between 1918 and 1920. A grim feature of the Flu was the devastating multiple waves of infections, similar to what is being seen with the coronavirus. In February this year, even as a massive second wave of Covid-19 cases arrived in Europe, India was in self-congratulatory mode, believing the virus had been controlled and that an economic recovery was underway following the recession in the f...