In a bid to boost the state’s small scale industries sector, the Odisha government has decided to make the processes at the Department of Micro, Small and Medium Enterprises (MSME) go online within the next year, said the MSME Department Secretary Panchanan Dash.
Indian SMEs are diverse and full of potential. However, the issues and challenges that this segment is facing are equally diverse. In order to deal with these challenges great level of advocacy is needed. The Small and Medium Business Development Chamber of India is an industry association which has taken over this responsibility of developing the SME Sector, as well as raising their issues to appropriate authorities on time to time.
Following the footsteps of Maharashtra and Gujarat, the West Bengal government has unveiled its draft industrial policy after a long wait on May 18, to woo entrepreneurs by showcasing the state as an attractive investment destination. The policy stressed on sustainable development of labour-intensive micro, small and medium enterprises (MSMEs), with special emphasis on food processing and agro, textiles and apparel, leather and handicrafts.
The Small Industries Development Bank of India (SIDBI), the apex body for the development of MSME sector, has identified four major gaps in financing MSME sector in India that impacted the viability and sustainability of the sector. The four areas are risk capital/equity, receivable financing/factoring, service sector and sustainable financing for cleaner technology and energy efficiency.
The Cluster Development Programme by the MSME ministry has facilitated growth and promotion of MSMEs in Uttar Pradesh under various trades, said the Minister of State (Independent Charge) for Micro, Small and Medium Enterprises, K. H. Muniyappa in a written reply to a question in the Rajya Sabha on May 6.
The National Innovation Council, in collaboration with Ministry of Micro, Small and Medium Enterprises (MSME) has proposed to set up a dedicated fund in the name of ‘India Inclusive Innovation Fund’ for promoting grass root innovations with social returns as well as modest economic returns, said the Minister of State for Finance, Namo Narain Meena in the Lok Sabha recently.
K. H. Muniyappa, Minister of State (Independent Charge) for Micro, Small and Medium Enterprises (MSMEs) has informed Rajya Sabha via a written reply to a question on Monday that, the government has proposed to continue ‘Assistance to Training Institutions’ (ATI) scheme in the 12th Five Year Plan and a proposal for that has already been sent to Ministry of Finance.
India’s apex trade body, the Federation of Indian Chambers of Commerce and Industry (FICCI) has welcomed the approval of the Defence Procurement Procedure (DPP) 2013 unveiled by the Ministry of Defence (MoD) last week and said that the move is a “a major step forward” to boost domestic industries.
Business ties between the MSMEs in India and Bangladesh are all set to improve.
The proposed Rs 5,500-crore India Inclusive Innovation Fund, being developed by the Ministry of Micro, Small and Medium Enterprises (MSME) to enable Indian enterprises to build innovative solutions for developmental challenges, is expected to be functional by June, an MSME official said.