by Rajen KumarIndia's Manufacturing Muddle
What holds Indias manufacturing sector at the back foot? Why the sector has failed to emerge from the shadow of a strong service sector which has recorded a creditable growth in the...
Special ReportsMar 2014
When you have just decided to go ahead and chase your dream of higher studies, the one you had sidelined for quite some time now, you realize the road ahead is not so...
Quality as a Culture
When I was in school, my father would always insist that I write in a good handwriting and keep the notebooks and answer sheets clean and tidy, labeled, highlighted fundamentally well organized. My retort would be to focus on the contents and the answers not the cosmetic appearance.
How can SMEs Leverage Social Media to their Advantage
People are increasingly being empowered by technology and information that are easily accessible to them today. Customers, both geographically dispersed or in your locality would learn about any product or service from the internet first. Thus, the sellers have to be present there, where their customers are i.e. online. Customers are also increasingly expecting companies to come up with new and innovative features, products, and services that can excite them.
SMEs need an “Operating System”
The sudden death of TATA Motors Managing Director Karl Slym was in the news on Jan 27th 2014. He died on 26th Jan in a Bangkok hotel while attending some work engagement. Immediately the papers started reporting who will be taking over at least for the short term.
“Education sans Frontiers” Rise of MOOC?
Skills shortage or inadequacy of workforce is a global phenomenon. Today, we people need specialized skills for particular job profiles one that requires generalized ability as well as pointedly specific skills to execute the current job function. A sizeable portion of our middle and top management comprise of people who were predominantly educated during the 70s and 80s. A lot has changed in the world since then. It is a serious feeling that for a diverse set of reasons the growing work force will need to be rapidly re skilled.
How China crisis will fail Indian SMEs!
28th August 1998, millions of ordinary people across a country woke up with frozen Savings accounts, ceased debit cards, insolvent banks, and fumed pensions. Out of them, turned,11.3 million people jobless and the rest down to one third of wages from 160 to 55 per month. 40 percent of the population by teatime discovered themselves below the poverty line. Faster than ever, left the shelf off, all necessity staples items as if were the last one of its own kind. The nations deposits value plunged from 27 billion to 12 billions the only thing whooping on charts was inflation, and at 84 percent. All this had happened with Russians as an economic collapse merely known. Toprotect finally and slightly Ruble, it took a cost of 40 percent of nations revenue as an interest to IMF loan, which later as expected defaulted by Russian.
His Model of Economizing Healthcare Became Case Study for Harvard and Wall Street Journal
A cardiac surgeon of repute, a successful entrepreneur, Dr. Devi Prasad Shetty heads Narayana Hrudayalaya Hospitals. Dr. Shetty is a highly respected luminary for his ingenious ideas for reforms in healthcare sector. His visionary leadership to make quality healthcare accessible for all has drawn global recognition.
India's First Ayurvedic CARDIAC Rehabilitation – Sane Care Group
Until now it was believed that alternative forms of medicines do not work well on critical diseases like heart ailments and strokes. Heart attacks are a major killer in India and globally chronic problem. A young dynamic, 35 year old Ayurvedic doctor however believed it otherwise and did intense research on the subject. After years of hard work and research, he came up with a treatment that not only helps cure serious heart ailments but also prevent heart attacks.
SMEs can Play Key Role in Ensuring Food Security
SMEs, as major drivers of growth engine, are destined to play pivotal role in ensuring food security. SMEs with a fund of infrastructure can provide adequate storage facilities in towns adjacent to agriculture-rich areas, open retail distribution outlets for quality seeds and fertilizers for the farmers in cooperation with local banks and cooperatives and also provide transportation facilities for the movement of food grains and other edibles. SMEs sector has a great potential for translating the national agenda of securing safety for the hungry into practice. Besides, SMEs are also potent instrument for being a catalyst for water-energy-food nexus approach.
Eternal, Sustainable and Clean Energy
Indian economy has grown by 5% in the year 2012,13. The scenario is extremely bleak. There is pronounced slowdown in the industry across the country. The energy sector is one of the most sluggish one and there is very little ray of hope. Power projects have been greatly delayed or held up. Many of the existing ones are operating way below their potential. Financial condition of state distribution companies are in shambles.
Creating a difference in the Indian E-commerce Space
American Swan, is a premium international Fashion & Lifestyle brand that offers a range of authentic, smart Casualwear. With its distinctive range of Men and Women apparel, accessories, footwear, beauty & fragrance and home products, American Swan is aimed at people who seek an aspirational, glamorous and international brand. The styling is enduring, yet modern and chic, with an emphasis on sophistication, innovation and top quality. Simply put, American Swan delivers a distinctive connection between the old and new, epitomizing a dynamism that is born of a passion for setting trends. The brand combines classic, iconic Americana style with a quintessential European Fashion: its refinement, tailoring & sensibility.
Concept for Redefining MSMEs
We have been constantly voicing the fact that the definition of MSME in India is in great need for a conceptual and structural reform. It is serious feeling that for a diverse set of reasons, there is a grave amount of apathy towards this segment. We lack detailed data for analysis and a fair amount of discussion and debate on how to make the definition more inclusive and relevant in the current context.
Why we should discharge Corporate Social Responsibility?
A recent significant change in India\'s “Companies Bill” is the inclusion of Mandatory CSR for companies beyond a threshold limit. Immediately, there has been lot of gripe and grouse about the Government\'s “dictatorial” move which challenges the basic tenets of free and fair trade.
Abridged White Paper by SME WORLD Powering the “ENGINE” of Growth
The micro, small and medium enterprises sector in India is dominant in employment generation due to its sheer number of units and establishments though suffering from lower productivity and sometimes insolvency owing to unfriendly business environment.
Online Design Emporia by Delhi Couple: Adding a ‘Touch of India’ to Design
At a time when the world is admiring the heritage-rich 'India ethnic', Indian design is claiming a center-stage in the world of design and fashion, New Delhi's Surbhi Gupta Tanga, an Architectural Historian, armed with a degree from CEPT University, Ahmedabad is slowly bringing about a revolution opening the floodgates of Indian design by creating an online marketplace for the world to taste India never before.
A New Model for Indian MSMEs to End Their Woes
Of late, the MSMEs sector in India has acquired greater importance due to their inherent advantages like capital saving nature, large scale of employment creation, higher share of exports etc. However, the sector has been facing several problems like, scarcity of finance, non-availability of skilled man power, shortage of raw material, sickness etc.
Hamriyah Attracts 5700 Investors from 140 Countries
With the fast changing global economic scenario, a new business ecosystem has emerged worldwide over the years. Entrepreneurs all over the world are reaching out to new business destinations creating an environment devoid of any trade barriers where productivity and progress are the buzz word.
Bringing Social Change through Entrepreneurship
We routinely hear, read and write about entrepreneurs who have come up with remarkable innovation with respect to products, technology, service delivery etc, creating a “paradigm shift” and many of whom have made remarkable progress in a short time, achieved VC funding and might soon get listed or have become an attractive proposition for high value acquisition.
AGRO AND FOOD PROCESSING- PPORTUNITIES FOR PARTNERSHIP OF INDIA-ASEAN TRADE
Though agriculture contributes only 1/4 of the Indian GDP, it sustains approximately 2/3 of the population and continues to determine the growth rate of the national economy. Moreover, India has natural comparative advantage in agriculture with 161 million hectares of arable land and widely diverse agro-climatic zones. Indian agriculture, therefore, can be easily diversified to meet diverse demands of both domestic and overseas customers.
Entrepreneur Development Initiatives
Industrial associations are veritable pool of knowledge, experience, talent and intellect. The members comprising these associations are mostly industrialist, businessmen, entrepreneurs who have carved a niche for themselves and are capable of nurturing many more upcoming entrepreneurs. There are various ways by which industrial associations can aid in entrepreneur development initiatives.
Boosting Regional Economic Clusters
We have been brought up with many fables with moral. The most relevant one today is the moral – “Union gives Strength” from the traditional story of a bundle of sticks. This is specifically pertinent for creating competitive advantage amongst SMEs and is vital in the ever evolving globalized world.
Dr. Rashid Urges Entrepreneurs to Work Towards Inclusive Growth
The Congress sent out a strong message across to the thought leaders and entrepreneurs that the ultimate aim of growth and prosperity is to achieve inclusive growth. Development with sustainability should basically aim to connect people and meet the needs without compromising the ability of future generations. It must contain within it two key concepts of needs and limitations.
Why IT Adoption is no longer a CHOICE but NECESSITY for MSMEs
IT is now becoming an inherent part of the overall long term corporate strategy and planned budget provisions are being made for continuous technology upgradation and newer acquisitions. They help in maintaining the systems and procedures in enterprises for human resource to operate. And they bring in a collection of best practices from various industries.
Tragedies of Budgetary Show
As Finance Minister of Union Cabinet, Mr. Pranab Mukherjee forgot to elaborate the much awaited 12th Five Year Plan during his budget speech in parliament, which aimed to strive for “more financial inclusion”. Instead, he chose a horrific quote from Shakespeare's “Hamlet” stating “being cruel to be kind” in a quite dramatic fashion. Moreover, his exuberant declamation of Indian cinema's centenary year with service tax holiday for a year was among the height of deviant financial planning of the economy that was waiting for a slew of measures for retrieving its desired tune! Unfortunately that remained complete amiss and further counterpoints overshadowed the all prominent expectations that were attached to this budget.
Khulke Khushi Lutao ... Pranabda
On the eve of India's Union Budget, I would like to dedicate few lines of a jingle to Pranabda on behalf of all entrepreneurs. Tum dil se agar puchhoge, Woh khush rehna hi chahe Toh khul ke khushi lutaao, Ye kya aadha-aadha Umeedon wali dhoop, Sunshine Wali asha! This recent jingle of Coca Cola truly captures the desires of all entrepreneurs from this Budget.
Crafting a Sustainable Secure Future through Strengthening the Food Processing Sector
Importance of Agriculture in India's economy is evident since Independence. It is the source of livelihood and sustenance for more than half of India's population especially for people living in the rural areas. But unfortunately, the growth rate in this sector and the level of development is far from its true potential. The domestic food market in India is supposed to reach ~ USD 260 by the year 2015 based on the current trends according to various reports. During the period, the share of processed food in terms of value is expected to increase from ~ 40 per cent to 50 – 53 per cent.
MSMEs Sector's Growth at 11% A Challenge for Policy Makers : SIDBI Chief Sushil Muhnot
MSMEs are witnessing a paradigm shift from comparative to competitive era. Time is ripe for entrepreneurs in Indian MSME sector to embrace management-oriented business strategies for overall growth, said S. Muhnot, Chairman & Managing Director, Small Industries Development Bank of India (SIDBI). In an interview with SME WORLD, the SIDBI Chief divulged on the bank's strategic plans for the MSME sector with thrust on inclusive growth.
Back to Basics : The Organic Way
Agriculture is without doubt the mainstay of human beings on this planet. Food security ranks first in any nation's agenda. It is the means of our survival. Due to its immense importance, countries have spent vast resources, employed scientific know-how and technology to improve agricultural yield. The fall out has been depletion in soil nutrients, productivity and chemical buildup in soil and water. This has steadily seeped into agri-products and ingestion of which has lead of accumulation of these harmful materials in animals and human beings alike.
MSMEs in 2012 and Beyond: The Sectors That Hold Promise
The year 2011 started off quite well for me. There were some personal accomplishments, new professional alliances, projects and work to look forward to. But half way down the year, I lost my father suddenly. It was a bolt from the blue, absolutely unexpected. Not that I do not believe in life and death but it was too abrupt and I was totally unprepared, never saw it coming so soon. I felt the earth shifting beneath my feet and everything seemed extremely challenging and tough. A remarkable inner revelation occurred while I was grappling with this tragedy. I realized that since now my protective shield is down, I have only two choices – to remain exposed and get hit or consolidate my position, take stock of what strengths and assets I have and rebuild everything. I realized that I still have rest of my family around, my education, experience, network of acquaintances, friends and well-wishers to bank upon. When our life hits rock bottom, the only way out is towards the top. Pushed in a corner by any kind of adversity, either we have to fight back or we can choose to perish. It is the choices and our attitude which guide the future course of our lives.
Social Media Networks and Their Impact on SMEs
There were days when Small and Medium Enterprises were by and large restricted to local regions for their customers. Primary reason behind this was their inability to spend huge amounts on marketing and advertising – a move which could connect them to wider and more diverse client base, and across geographies. This was a major point of differentiation between such small enterprises and the large companies. However, the meteoric rise of social media has changed this trend.
How to leverage existing customer base to increase business?
Education - The Emerging Sector : Catch the wind in your sails
The School level segment includes a whole range of products and services for students forming part of toddler and play ground programs, pre-primary, primary and secondary sections, individual schools, tutorial classes and academicians. The same extends to the university level for undergraduate, graduate and doctoral courses. The market spreads wider in the professional segment which also includes corporate training, skill development and upgradation as well as mentoring systems.
Ambiguity Looms Large
The economic trends around the world these days are fickle and worrisome. It is extremely challenging for common man to gather how things will shape up in the future. The investment plan assumptions of individuals are going awry and people are trying to grapple with the growing uncertainty. Businesses are also not remaining insulated from this ambiguity.
GKN to acquire Getrag’s Driveline Products Business
Recognising the potential growth of the Indian automotive market in the early 1980s, GKN Drivline was the first company in India to manufacture sideshafts for front-wheel-drive vehicles. The company currently employs 800 people at three factories in India: Faridabad and Dharuhera, near Delhi in the north and Oragadam, near Chennai, in the south.
India MSME Report 2011 Twelfth Plan Needs an Aggressive Approach
The Twelfth Plan has a logical strategy for the MSME sector. But the implementation needs to be made more realistic and aggressive. Often, MSME programmes are considered as a stop-gap arrangement. The effectiveness of policy depend upon the different phases of the enterprise development cycle.
Global IT Security Risks' Survey Report
Only 70% of companies have implemented anti-malware protection fully across their businesses; 3% have no protection at all. The level of anti-malware implementation varies from country to country: in emerging markets 65% of companies have adopted it, while in the UK and US levels of implementation stood at 92% and 82% respectively.
Dell Introduces Ultra-Powerful & Thinnest Laptop
The XPS 15z includes 2nd generation Intel Core i5 or i7 processors, a brilliant 15.6-inch WLED display with a Full HD option that has almost two times the HD resolution of standard HD displays, NVIDIA graphics with 3DTVplay capabilities, built-in WiFi, Bluetooth 3.0, USB 3.0 and a backlit keyboard.
Network Storage Devices: Iomega Launches Affordable PX Series for SMEs
Easy to set up, simple to manage, affordable to own, Iomega's new StorCenter PX Series of network storage devices range from diskless with no included storage up to 18TB* of storage capacity. The PX Series also includes award-winning Iomega Personal Cloud technology, empowering users to protect and share data from virtually anywhere without any incremental costs.
India International Furniture Fair (IIFF) Debuts in Mumbai
The event is expected to witness 5000 visitors and 60% of the exhibitors at the country pavilions from Singapore, Malaysia, Thailand, Turkey, Italy, the Philippines, Vietnam, China, Indonesia and the United States from overseas.
Infor's Partner Network to reach more SMEs
As a part of PM Delegation: NSIC signs MoU with Tanzania, Ethiopia
Globally, NSIC experience with other developing countries is in great demand and recently NSIC was invited to be a part of Prime Ministerial delegation to Ethiopia and Tanzania to lend its expertise in the development of MSME policies and institutional framework for MSME development in their countries.
SIDBI and RUDSETI Proud Partners in Entrepreneurship Development Programme
RUDSETI along with SIDBI is implementing Rural Industries Programme (RIP) in Udupi District in Karnataka and Shivaganga District in Tamil Nadu to promote viable rural enterprises, to motivate the public to exploit the local resources, to generate employment opportunities, to educate, guide and train the people to setup enterprises and to make continued efforts for arranging credit.
Print Pack sign photo Expo 2011: Xerox Demonstrates Applications for Commercial Printers in North East
Xerox showcased its latest range of digital and office printers with innovative through live demonstrations of its portfolio of colour products from office to production range, the event created awareness about the benefits of digital printing and educated partners on Xerox products and solutions.
SME WORLD Partner in Mega Exhibition in Mumbai - Golden Maharashtra
The GOLDEN MAHARASHTRA is being supported by major Trade Bodies, Associations, and International Diplomatic Offices. A 360 degree communication plan shall help bring visitors from across all stakeholders such as Policy Makers, leaders from National and International Corporate houses, Government Officials, Diplomats, and General Public from India and Abroad.
NSIC set to take a Leap, signs MoU with the Ministry
National Small Industries Corporation (NSIC), recentl signed an MOU with Ministry of Micro, Small and Medium Enterprises. The Memorandum of Understanding ( MOU ) for the year 2011-12 was signed in the presence of Shri Virbhadra Singh, Hon’ble Minister, MSME between Shri Uday Kumar Varma ,Secretary, MSME, Government of India and Dr. H.P Kumar, CMD, NSIC. The MOU also carries the approval of the Task force established by Department of Public Enterprise (DPE),Ministry of Heavy Industries & Public Enterprises.
MSME Summit cum Exhibition 2011: Knowledge Event by IED Lucknow
The event promises to provide a great platform to all stake holders of SMEs sector in India and particularly those operating in the state of Uttar Pradesh. The government institutions, organizations and industrial units are going to participate as exhibitors.
Corruption making life miserable for SMEs: survey
What many SMEs see as a way to get things done, every year, crores of rupees are paid in bribes with devastating consequences. SMEs across the country are increasingly concerned about the problem of bribery and corruption in various government circles.
Rajen Kumar nominated Co-Chairman On ASSOCHAM National Council (SMEs)
SME WORLD Chief Editor Rajen Kumar has been nominated Co-Chairman of the ASSOCHAM National Council for SMEs. His nomination stems from his singular services for the promotion of the Indian MSMEs sector and the growing influence of SME WORLD amongst the small and medium industrial verticals.
International Women's Day - 8 March: FIWE to Deliberate on ‘Women in Entrepreneurship’
Budget 2011-12: Wish List for the SMEs
Government Schemes must be entrepreneur-friendly and they must be polularised.Government must take action for maximum adaptability of the Information and Communication Technology (ICT) solutions and new-age marketing ways.
‘Consultants' Clinic’ Adds Value to SMEs
In an endevour to help the SMEs though their expert consultants Bombay Industries Association (BIA) under the leadership of Rohitt D Mistry organised a first of its kind "Consultants Clinic" for Small & Medium Enterprises (SMEs) in Mumbai recently.
'Connecting More People Means Bring in Huge Dividends' - Dr. Sam Pitroda
The banks are willing to extend all possible financial assistance at the shortest possible time provided the SMEs gain the confidence of their bankers through transparency of their business dealings and fulfilling their obligations and commitments.
Godfrey Phillips Bravery National Awards: Dr. Jaya Arunachalam Decorated with Social Lifetime Achievement Award
WWF (India) is today an activist commitment to facilitate women in extreme poverty, in terms of organized platform, access to credit, education, healthcare, training/orientation towards promoting social and financial independence to fight poverty, matching the objectives of millennium development goals of the United Nations.
Awards Galore for SME Entrepreneurs
“The vision of these awards was to incentivize innovation and improved management & organizational capabilities in not only the winners, but across the MSME sector. It is an effort to reward those companies who have challenged the established paradigm in their industry domains in the spirit to grow with innovation while enhancing the value which is being offered to their consumers.”
Argentina for better ties with India says Consul General
“Economic cooperation between the two countries so far had been modest. Several agreements for cooperation in diverse sectors have been signed between the two countries in an effort to contribute towards economic development in both countries and share mutual complementarities.”
ASSOCHAM Now on an Inclusive Plank
Modi, the youngest President of the Chamber, who takes over the mantle from Mrs Swati Piramal, the only women President of the Chamber, has also set in motion the process of setting up new offices in India and expand its operations abroad, the latter being a new initiative.
Google's Adwords to Help SMEs to Go Global
"With over 35 million SMBs in the country, India is a strategic market for Google. We are looking to significantly invest in our efforts to maximize our reach and educate the Indian SMBs to gain from the benefits of online advertising.
'SMEs have potential to drive substantial employment growth and wealth creation'
“We are proud to be associated with the 'Emerging India awards since its inception in 2005. Evaluating more than half a million SMEs as a part of this process has been a gratifying experience. More importantly, we have been witness to the sense of recognition and pride amongst the winners, and it has been fascinating to see several of the winners grow from strength to strength and become industry leaders in their own right.
Update Your Customers with Intuit GoConnect
Understanding such problems and with objectives to enable the SMEs to stay in touch with their customers, Nokia, a leader of telecom, and Intuit Inc., a leading provider of business and financial management solutions, launched a very innovative service – Intuit GoConnect, a the unique service that can help small businesses strengthen relationships with customers and increase repeat traffic to their business.
GEA Appeals for Saving Garments Exporters
GEA president informed that the recent Government decision to allow cotton exports was resulted in steep hike in the prices of Cotton, Cotton Yarn and Fabric. The textile industry has been making repeated representations to the Ministry of Textiles requesting the Government to allow for only calibrated cotton exports.
Hannover presents unique B2B events
Starting Dec 15 through 18, 2010, HMFI will present five international trade fairs which will be a unique B2B event for domestic and international companies to reach out to diverse user industries in India through a single platform. With more than 300 exhibitors, of which one third from 19 overseas countries, visitors will have a unique opportunity to get an overview of new technology trends in diverse industrial sectors.
MSMEs employ almost Six Crore Manpower- Employment in SMEs Sector
Number of SMEs in India
As per the 'Quick Results: Fourth All India Census of Micro, Small & Medium Enterprises 2006-2007', the number of registered and unregistered Micro, Small and Medium Enterprises in the country is 26100797.
‘Alifest 2010' Displays the Power of e-Commerce
AliFest is an offline extension of Alibaba Group's e-commerce communities, which comprise millions of small businesses worldwide who regularly meet, chat, search for products and do business on the internet.
Banks Need a Pragmatic Approach; Credit is the Base of all Challenges for SMEs: Varma
“I suspect the administrative work involved in sanctioning the loans to SMEs is so much high that there are inbuilt disincentives for the bank managers to go enthusiastically to sanction loans. I don't think banks per se are resistant to give credit to small entrepreneurs but things become difficult for them when they find the same efforts going into funding a large corporate and the small unit. We need to look at this from a different perspective...."
Uday Kumar Varma New MSME Secretary
Uday Kumar Varma a 1976 batch IAS of the Madhya Pradesh Cadre has taken over the charge of the post of Secretary, Ministry of MSME. He has succeeded Shri Dinesh Rai, a UP Cadre IAS officer of 1974 Batch, who had superannuated on 31st August 2010.
Developing and Sharpening Entrepreneurial Skills
Since its establishment the institute has carved a special niche for the promotion of small and medium enterprises, achieving recognition both nationally and internationally and providing industrial training in varied industrial segments. Besides training, the institute also offers research, consultancy, information and extension services not only to enterprises but to the concerned development agencies.
Alibaba.com Launches Customer Service Operations in India
With a service office in Mumbai, Alibaba.com will primarily focus on providing dedicated customer service to its Indian Gold Supplier members during a crucial time of growth for the small business community here.
SEBI Chairman Bhave Confers Award on SME WORLD for promoting SMEs Sector
The awardees included now a well established journal entitled 'SME WORLD'. The award was received by Founder Editor of the magazine Rajen Kumar. Mr Bhave spoke about the contribution of the SME sector to the development of the Indian economy and the role that innovation can play in propelling this sector.
Hit by Adversities Garment Exporters Face Rough Weather
Global meltdown has increased international competition and reduced the demand of garments due to slowdown in the world economy, including formidable problems being faced by the United States, the European Union and Japan, which account for almost 80 per cent of India's exports
MSMEs Call Centre Opens
Udyami Helpline would provide information to first generation entrepreneurs regarding project profiles available in the website of Ministry of MSME/ KVIC and other Ministries, other formalities required in setting up of an enterprise, formalities required for getting loans from banks, availability of subsidy under various schemes of the Ministry e.g. Prime Minister's Employment Generation Programme, name and address of Udyami Mitra who can provide him necessary guidance under Rajiv Gandhi Udyami Mitra Yojna.
Kaspersky Mobile Security 9.0
The new version of Kaspersky Mobile Security also includes enhancements to the anti-theft feature that a smartphone user can use to block the device if it is lost or stolen, wipe its memory, locate it via GPS as well as receive notification of the new number if the SIM is changed. After it has blocked remotely, the smartphone can display a prearranged message allowing any law-abiding citizen to return it to its rightful owner.
Self-Employment to Disabled, SCs/STs Etc. by KVIC
In this scheme the margin money assistance is provided to the interested persons, including those belonging to the categories of disabled, SC, ST, OBC, North-Eastern Region (NER) also. Substantial credit is extended by banks depending upon the project cost and location/category of the beneficiary.
SME Chamber Celebrates 10th Foundation Day
Addressing a large gathering of entrepreneurs and foreign dignitaries, Chamber President Chandrakant Salunkhe thanked the large number of Chambers members for their role in helping the Chamber an important milestrone. “We have yet a huge task ahead of us and we wish cover many more milestones,” Salunkhe said.
Mid Term Appraisal for MSMEs: The Unspent Billions
Lesser Known Story of CSR: MSMEs Impact on Society, Environment
The study notes that Corporate Social Responsibility (CSR) is a term that was created ''primarily by and for larger companies'' and, therefore, is not necessarily well adapted to the world of SMEs. It, however, says that CSR in SMEs is ''less formal and more intuitive'' than in larger enterprises, ''but that does not make it less valuable''.
Social Credits for CSR: Will Corporate Social Responsibility Become Mandatory in Future?
''The Ministry of Corporate Affairs has issued guidelines with regard to CSR activities. We will make a review of these after a year. After this the government may consider whether some standards can be made enforceable,'' Mr Kurshid said while inaugurating a workshop here on 'Corporate Social Responsibility by Small and Medium Enterprises.'
Reforms in IPR Laws Coming
On the occasion of the 10th Anniversary of World Intellectual Property Day, ASSOCHAM has taken an initiative to assess the economic importance of the country's IP assets and maximizing the fruits of the new innovations by organising a conference on IPR in New Delhi recently.
Inspired by Vedas they produce Patriotic Energy
IPRs as a Tool for Empowerment of Small Entrepreneurs, Artisans & Craftsmen
Intellectual Property Rights (IPR) as a tool for poverty alleviation and achieving competitive edge in terms of technological gains for sound economic growth is yet a far cry especially in the SMEs sector in India.
MSME Task Force recommendations in implementation mode, says Dinsha Patel
The Minister appreciated the important necessity of adequate credit delivery to MSMEs for their success, especially in the existing economic scenario and informed that Public Sector Banks enhanced the 20 per cent finance to MSME sector as per the policy package for stepping up credit to Small and Medium Enterprises which was formulated to double the flow of credit to the sector in five years.
Lean Manufacturing Comtitiveness Programme Launched in Faridabad Cluster
Marching ahead in this campaign, another LMC program has been launched at Faridabad Auto Cluster. To avail the benefits of the programme, 13 units of Faridabad Industries Association (FIA) have formed a Special Purpose Vehicle (SPV), a mandatory measure, under the name of Faridabad Lean Manufacturing Industries Co-operative Society.
ASEAN Trade Agreements and Opportunities for SME's
In India SMEs contribute almost 43 per cent to the industrial output and provides employment to approximately 42 million people in the country. Despite it Indian government, Venkataraman highlighted, some incidents indicate the lack of support and cooperation by the towards the Indian SME sector.
AIMA - Indian Marketing Congress 2010: 'Next 15 years is going to be Ramrajya for Consumers'
Marketing is an area where all the companies apply all the fundas. Gopalakrishnan also suggests 4 C's of marketing relevant to India where Jugaad is a way of Life. He said that 'Challenge, Chaos, Creativity, and Communication' are the unique features for India.
Banks to Extend Loans at Base Rate from April 2010 : Gokarn
Under the existing BPLR system, banks use their negotiating power for extension of borrowings to lenders and based on the bargaining between concerned banks and their borrowers, the rates for lendings are decided which means that for different consumers banks charge different interest rates.
National Conference to discuss Capital markets for SMEs
Raising capital is a strategic priority across India and role of Capital Markets has assumed far greater importance and urgency. The frontiers of global markets are not only increasing but also moving towards process of convergence.
Make us Competitive and Profitable: Garment Exporters
Now A PC for Your Car
The size of the PC makes it easy for car manufacturers and those providing cab services to incorporate seamlessly into the vehicle, without any alteration to the design. The PC runs at 1.1 or 1.6 GHz speed using sub 10 watts of power, one sixth of the power required to run normal Pcs.
Dubai Debt Meltdown – Another financial crisis?
Economic Upturn for MSMEs
The second quarter of the year 2009 - 2010 may be the upturn point for the Indian Micro, Small and Medium Enterprises (MSMEs), according to the MSME outlook survey, conducted by the Confederation of Indian Industry (CII).
Indians recognized Technology Pioneers in 2010
Technology Pioneers are chosen on the basis of six criteria: Innovation; Potential impact; Growth and sustainability; Proof of concept; Leadership; and the company must not currently be a Member of the World Economic Forum, according to Rediff.com.
Northwest Regional Development Agency (NWDA) Targeting Indian
The Agency is providing free and confidential essential market intelligence, advice and support on statistical, legal, tax, property and recruitment issues for any company looking to locate in England's NW with relevant advisory services on availability and costs of sites and premises, financial assistance and grants, networking opportunities with potential supply-chain partners and introduction to other business professionals and organise 'briefing' visits for key business professionals amongst others.
Accessing of ATMs of other banks will not be Free
The free access to automated teller machines (ATMs) of any bank will be closed from October 15 as the third-party ATM usage would carry a cap on the withdrawal amount and the number of transactions each month.
Ras Al Khaimah Free Trade Zone - A haven for Indian SMEs
China Fair to be the largest Platform for SMEs
The 6th CISMEF, spread over 100,000 sq m, expects to attract over 4,000 Chinese and overseas exhibitors. The Chinese exhibitors shall represent their markets from 34 provinces in the Chinese mainland, Hong Kong, Macao and Taiwan.
Fresh Policies for MSME sector on the way
Small and Medium Enterprises (SME) sector in India is the key driver of the nation's economic growth with a contribution of over 40 per cent to the country's industrial output and around 35 per cent to direct exports.
Ghaziabad Industrial Hub is Land-Starved
The Ghaziabad economy is heavily dependent on the industries mainly SMEs, which are the real assets of the city. The many industries account for the economic growth of the Uttar Pradesh State. Also, these industries are the reason behind Ghaziabad drawing the huge number of skilled laborers for employment.
Record growth of Telecom Subscribers
The total Broadband subscriber base in India increased to 6.62 million from 6.4 million thereby showing a growth rate of 3.4 percent. Subscription levels are currently witnessing higher growth rates in the so far under-served 'C' category circles.
Women Entrepreneurs Making Strides in Turkey
The success of women entrepreneurs in Turkey goes beyond their individual achievements and even beyond the contribution they are making to the Turkish economy. Their success has empowered other women too.
New Companies Bill Coming: Khursheed
The new Companies Bill 2009, with stricter disclosure norms and provision for one-person corporate entity, will be tabled in the ongoing budget session of parliament, Corporate Affairs Minister Salman Khursheed said recently.
Relief for MSMEs on the Anvil?
Anguished at the step motherly treatment meted out to the MSMEs in the union budget proposals, Patel informed us that the Prime Minister felt 'seriously concerned' about the millions of micro, small and medium enterprises reeling under tough times with no relief in sight.
FICCI Business Delegation to Dhaka – Bangladesh
FICCI is mounting a high-powered business delegation to Dhaka from July 19-21, 2009. The delegation is important in view of the formation of new Government in Bangladesh and recent agreement on bilateral investment promotion and protection between India and Bangladesh and renewal of India-Bangladesh Trade Agreement.
FICCI SMEs Summit to Attract Global Attention
FICCI The largest & oldest apex organization of Indian business & industry is the rallying point for free enterprises in India. With a nationwide membership of over 1500 corporate and over 500 chambers of commerce and business associations, FICCI speaks directly and indirectly for over 2,50,000 business units. FICCI organize a large number of events including Exhibitions.
Indian SMEs Taking the Lead in Latvia
India and Latvia share cordial trade relations. In 2007-08, the total trade between the two countries stood at $100.63 million. The major items exported by India to Latvia include metal products, chemicals, rawhides, transport equipment and agriculture equipment to India.
Global SME Summit Business Partnership Meet ‘09
Summit will highlight and discuss the emerging issues related to the sector in sessions: Policy Reforms & Regulatory Framework, Economic Stimulus: Additional Measures to boost SMEs growth, Opportunities and Challenges for SMEs in Global Meltdown
Singapore: Government Efforts to Boost SMEs
2nd International Horti Expo 2009
The 2nd International Horti Expo 2009, an exhibition encompassing incredibly diverse fields relating to horticulture, food and other allied sectors, aims to showcase a spectacularly vast array of products, and thus, gives one a unique opportunity to soak up relevant information.
India's Pharmaceutical sector all set for a great stride
The Indian pharmaceutical industry carries the distinction of being immune to the global recession and the so called downturn in India. The industry has been consistently growing at the rate of 8% per annum. At present, less than 40% of India's population has access to proper healthcare.
Small business lack online presence
The report indicates that although 63 percent of small business owners turn to the internet first for information, only 44 percent have a website, and half spend less than 10 percent of their marketing budget online.
Allocation of Rs 15,000 cr to help SMEs
The downturn in economy has some hope for SMEs in India. The Rs 15,000-crore fund announced by the finance minister in the Union Budget for skill development has opened a plethora of opportunities for SMEs.
Over 5 million Jobs May be Lost in Next Six Months
the government takes special measures to prevent massive layoffs occurring due to the downturn in the economy for otherwise lakhs of people would be jobless. Such were the concerns expressed in the national conference of MSMEs on Employment, Skill development and Economic slowdown in Delhi recently.
Indo-Polish Trade Crosses US$ One Billion
Urban Retailers down shutters as cost-cutting measures
Retailers are likely to focus on cost reduction by closing unprofitable stores, moving to tier II, tier III cities with low rentals, and offering heavy discounts on products to overcome the slowdown,” KPMG said in an industry report recently
America Leads in Entrepreneurialism
America still remains the world leader as far as entrepreneurship is concerned. America was the first country in the late 1970s to embrace capitalism which was supported by the tenets of entrepreneurship.
Global Employment Trends for Women
The International Labour Organisation (ILO) has warned that the deepening recession is expected to increase the number of unemployed women by upto 22 million as the global job crisis could worsen sharply this year.
Industrial Production Fails to Ramp Up
According to the latest CSO report, the monthly index of industrial production (IIP) contracted by 0.5% in January compared with the growth of 6.2% a year earlier. Industrial output accounts for a fifth the GDP which grew at 5.3% in the third quarter of the previous year.
Time to Gear up for the Next Fiscal
The business plan for this fiscal has to be practically feasible flexible and dynamic. Make sure that you set reasonable, attainable and time-bound targets. If you credit, remember that banks will not be willing to lend unless you come up with a very feasible project which banks cannot deny financing.
CAPACITY UTILISATION OF SMEs FALLS TO RECORD LOW IN SOUTH KOREA
Global Meltdown Affects Indian Economy
Increase in Natural Gas Prices Irks Industrialists
Natural gas is a bi-product during the extraction of crude oil. Hence it is largely produced indigenously. This fact provides for little justification to increase the price of natural gas by about 46% from Rs. 9.30 to Rs. 13.54 per standard cubic meter in the period of last one year.
Korean Economy Badly Hit
In 2005, the GDP growth rate of Korea was lower than in 2004, due to the weak domestic consumption, and the slackening of the foreign trade. GDP growth rate was 3.1% in 2003, 4.6% en 2004 and 3.8% in 2005.
CII MSME Council Proposes - 10-Point Agenda for SMEs
Assocham seeks 30-year tax exemption for solid waste plants
The Associated Chambers of Commerce and Industry (Assocham) urged the government to extend income-tax exemption for all solid waste processing projects to 30 years from the current 10 years to encourage corporate sector to invest in waste recycling technologies.
India slips down in the Global Innovation Index
A study conducted by Confederation of Indian Industries (CII) and the business school, INSEAD reveals that India has slipped to the 41st position from the 23rd position (as it was last year) in the Global Innovation Index 2008-2009.
IT SMEs in Kerala to Get a Big Boost
Meltdown dominates World SME conference
Small entrepreneurs are trying to stay afloat and not be wiped away by a crisis that is engulfing the entire economy. Such is the enormity of the present financial turmoil that surviving it became the chief concern with those present at the World SME Conference.
Special Issue on Pharma & Allied Industry
The Indian Pharma industry stands at the vanguard of India's science-based industries. Today the industry boasts of international standards in manufacturing bulk drugs and formulations. The Indian Pharma industry is highly organized and is growing impressively at 8 to 9% annually.
Indiamart Wins “Red Herring 100 Asia” Award
The coveted Red Herring 100 Asia award has been bagged by India MART.com, India's largest online B2B marketplace. The prestigious award was recognition of the company's role in transforming online B2B landscape in India. Mr. Dinesh Agarwal attributes the success story behind this award to their buyers and suppliers for their expertise in using the online B2B online marketplace to connect with business partners worldwide.
Japanese to develop industrial park in Haryana
'This project is likely to attract Japanese investment to the tune of the $1 billion and will create an employment for about 10,000 people directly and indirectly in the core and allied activities,' he said. This project is in line with the joint declaration made by both countries during Indian Prime Minister Manmohan Singh's visit to Japan in October 2008
India needs entrepreneurs for economic growth
Indian economy is fast growing and it is set to lead the world economy within your lifetime only. “Be perfect, set your goals, be optimistic, acquire the best of skills in your respective areas and make yourselves infused with confidence. You will always win.”
Indian retailers caught up in bad weather
A number of stores of Indian retail giants have started closing their shutters. According to industry sources, while Foodland Fresh, the neighbourhood convenience store of the Rs 500 crore RK Group, has closed down several stores in the last few months, Spinach, an easy-to-shop-in local store, owned by the Delhi-based Wadhawan Group, is also contemplating putting their expansion plans on hold for the time being.
New couples-Are new hopes for retailers
A few months from now, thousands of couples will begin a new life and so will our retailers. With the wedding season on with as many as 19 auspicious (read wedding) days, the retails outlets, badly hit by the ongoing recession period, are waiting to welcome the newly weds with fat pockets.
SME Sector pivotal in ING Vysya Bank growth
'This year (2008-09), our focus areas of activity would be retail banking, expansion of our reach through a bigger branch network, increasing our exposure to the SME sector and also strengthening our presence in the private banking space where we entered two years back,' the CEO added.
SMEDA had created 8,500 new job by bringing investment of Rs 9.5 billion
The Urban Transport Strategy of SMEDA had created 8,500 new jobs by bringing an investment of Rs. 9.5 billion and developing urban transport city network in seven cities i.e. Lahore , Karachi , Faisalabad , Rawalpindi/Islamabad, Sargodha , Multan and Gujranwala
SMEs weather recessionary pressures
For those saturated with recession, financial crisis and job losses, there is some good news. The sector's contribution to GDP as of now is around 17 percent. According to an ASSOCHAM report its share in GDP is expected to grow by a minimum of five percent to grab up to 22 percent share in GDP by 2012. This will be on the back of aggressive upgradation by the enterprises to reduce their input costs, improve productivity and thus increase their exports.
Auto Component Industry Needs relief
The Indian Auto-component industry in line with AMP was expanding from last 2/3 years and adding capacities. Suddenly, as an impact of banking finance un-availability, high interest rates in India and recession in US/ Europe markets, the Auto-component industry has landed into a most difficult situation ever faced.
Breather for SMEs
The news of recession spilled over from the US to the rest of the world, the small and medium enterprises have the worst hit. Slackening domestic demand and a severe crunch in export orders from countries abroad have made matters difficult for the SMEs.
Business friendly environ on the anvil
A recent report in a daily cried, “India may be one of the world's fastest growing economies but in terms of ease of doing business it ranks pathetically, even below Pakistan”. This is attributed to our antiquated laws, unnecessary regulations, and red tapism. The corporate world for long had been pining for a new set of regulations which can match up to the requirements of the current global, liberalised economic scenario.
Tea maker Duncan to make post offices its selling outlets
The strange stink of paper and stamps may not greet you when you go to your post office next time. A steaming hot cup of tea may welcome you. Yes, our neighborhood post offices will now sell hot tea to stay you cool with the usual stubborn post office staff.
Exports to South Korea rise four-fold. China lags
Indian Retail Market Slated to Touch the Sky - Rs.18 lakh Crore retail Industry by 2010
SMEs to face heat of global financial meltdown
The recent developments - the collapse of the US investment bank Merrill Lynch, Lehman Brothers going bankrupt and the insurance giant AIG being bailed out by a $ 85 billion package by the US Fed will change the global financial scheme forever. Doubts are now being raised over the financial policies of the world's most powerful nation.
South Korean SMEs to Slash Capital Spending, not Workers
India is viewed by the world as a vibrant economy set to achieve a double digit growth in not too distant future, SMEs in the highly industrialized South Korea feel pessimistic about their future prospects
Indian torch industry switched off?
The major players are Eveready (market share 70%), Geep, Nippo and Novino. The organized sector produces about 15 million torches. The unorganized sector, with over two dozen manufacturers, produces six million pieces worth Rs. 25-30 crore.
GEA to have modern Fabric testing facilities
The Garments Exporters' Association (GEA) proposes to set up a state-of-the-art Fabric Testing Laboratory and research Centre in Delhi. The R & D facility is most crucial for the garments exporters to maintain and improve upon the high quality standards required in this highly competitive international trade.
IIMs to vouch for separate RFQs for small companies
The government has roped in experts from the IIMs to examine whether public-private-partnership projects in roads, ports, and power and railway sectors would require separate request for qualification (RFQ) documents.
Government announces measures India will have 500 Million Skilled Technicians by 2020
The Prime Minister Manmohan Singh has written to all the Chief Ministers to consider opening up public education infrastructure, after class hours, for skill development. This can lead to a dramatic scaling up of skill development where skill developers in the private sector would be able to provide training at cheaper costs and spread skill development to all parts of the country.
- Winner of appreciation award for promoting SMEs in India.
- 1st ever Indian magazine to penetrate tier II, III cities & the rural belt.
- Industry Partnerships include CII, FICCI, ASSOCHAM, PHDCC, AIMA, ITPO, SME Network, Federation of Indian Micro Small Enterprises (FISME)
- Official Magazine Partners for several national & international MSME events.
The Last Word
January every year used to be the Great Film Month in Delhi. International Film Festival of India, IFFI used to take place a great get together of film buffs. Youngsters with a taste for the...
We are looking for writers and experts to contribute original stories and articles. Send an email to email@example.com with your story idea and lets get talking.