Latest news with #MSME
The Hindu
31 minutes ago
- Business
- The Hindu
Local MSMEs emerging as global contenders, says Minister
The Micro, Small and Medium Enterprises (MSMEs) from Andhra Pradesh are not just local champions but emerging global contenders, said Minister for MSME, SERP and NRI Empowerment and Relations Kondapalli Srinivas while addressing the participants at the International Reverse Buyer-Seller Meet (RBSM) in Tirupati on Saturday. He interacted with international buyers and hundreds of local entrepreneurs on the second day of the RBSM event. He emphasised the State government's unwavering commitment to strengthening the MSME ecosystem and connecting it with global markets. 'We are building a future where our MSMEs export with confidence, backed by quality, innovation and government support,' he said. Organised by the APMSME Development Corporation, in collaboration with the Federation of Indian Export Organisations (FIEO), the three-day meet brought together over 350 MSMEs and 30 international buyers from the U.S.A., U.K., Australia, G.C.C. (Gulf Cooperation Council) nations, Africa, and Southeast Asia. A major outcome of the event was the signing of 101 MoUs and business agreements, including contributions from 40 first-time exporters and 38 women entrepreneurs. These pacts are expected to unlock significant international trade opportunities for MSMEs, Farmer Producer Organisations (FPOs), artisans, and weaver societies across the State. MSME Development Corporation Chairman Tammireddy Siva Sankara Rao and CEO Vishwa M. addressed the gathering, highlighting the importance of such forums in enhancing A.P.'s global trade footprint. From agro-processing to engineering goods — MSMEs across a wide range of sectors showcased their products, received direct feedback from buyers, and explored potential exports. Entrepreneurs from Tirupati, Nellore, Kadapa, and Chittoor gained critical exposure to global standards, market expectations, and quality protocols. During the valedictory session, Sudarshan Babu, executive director of APMSME DC, and Unnikrishnan, joint director general of FIEO, underlined the importance of certification, sustained innovation, and preparedness to seize global opportunities. The Tirupati RBSM concluded on a high note, reinforcing A.P.'s growing reputation as a dynamic hub for export-ready MSMEs and setting the stage for stronger international trade partnerships.
The Hindu
2 hours ago
- Business
- The Hindu
Buoyed by BHEL's strong order book, new ancillary units spring up in Tiruchi and Pudukottai districts
At least 30 new ancillary industries of Bharat Heavy Electrical Ltd. (BHEL) have sprung up in Tiruchi and Pudukottai districts over the last one year mainly due to the high volume order book of BHEL. There were about 425 micro, small and medium enterprises (MSMEs) in Tiruchi district when the fabrication industry was functioning at its peak. Dwindling orders and its cascading impact severely hit the financial health of most MSMEs. At least 100 units turned out to be non-performing assets (NPA) and they eventually became sick and shut down their operations. Several others were facing severe strain on various aspects and they were only on record. According to industry sources, only about 120 units could manage to run the show by sourcing orders from various places and the BHEL. The piling up of orders for boilers with BHEL by various State owned electricity boards and companies has changed the tide in favour of ancillary units in Tiruchi. According to sources, at least 10 units, which closed down due to poor financial health, have restarted their operation. Similarly, 30 new companies have set up their units in Tiruchi and Pudukottai districts. With this, the number of ancillary units, which have received orders from the BHEL for producing various components of boilers, has gone up to at least 150. A senior official of BHEL, who spoke at MSME day celebration in Tiruchi on Friday, confirmed the number of new units. He stated that more companies are setting up their units. Some units that turned into non-performing assets are set to be revamped by injecting funds and engaging new partners and players. 'We continue to receive orders from the BHEL for various components of boilers. It is searching for competent vendors to produce various components. We understand that there will be no issue on orders front for the next 10 years. Hence, many players, who left for other ventures by closing their units due to poor orders, have evinced key interest to revive their units or launch new units in Tiruchi,' says R. Kanagasabapathy, former Chairman, Tiruchi Trade Centre.
New Indian Express
9 hours ago
- Business
- New Indian Express
11 new MSME parks to come up in Odisha
BHUBANESWAR: The Odisha government has commenced the process for the development of 11 new MSME parks and upgradation of the existing ones to promote modern multi-sector industrial parks at strategic locations. These parks will be equipped with comprehensive facilities that can be scaled according to operational needs, along with modern amenities. The government is also planning to develop MSME parks in every district. Additional chief secretary of Industries and MSME Hemant Sharma said the small and medium enterprises provide employment to around 40.9 lakh people in the state, positioning MSMEs as the largest employment-generating sector after agriculture in the state. Advances to MSMEs have increased from Rs 41,200 crore in 2019-120 to Rs 90,600 crore at a CAGR of 21.8 per cent. The share of micro-enterprises in MSME advances has risen to 10.3 pc as against the benchmark of 7.5 pc. 'The increase in advances is enabling the enterprises to expand, modernise and contribute more significantly to economic diversification and employment in the state,' Sharma said.
India Gazette
10 hours ago
- Business
- India Gazette
Uttar Pradesh CM Yogi Adityanath holds Janta Darshan at Gorakhnath Temple
Gorakhpur (Uttar Pradesh) [India], June 28 (ANI): Uttar Pradesh Chief Minister Yogi Adityanath on Saturday held a Janta Darshan at the Gorakhnath Temple, where he met people and listened to their grievances. He directed officials to take quick action to solve their issues. Earlier on Friday, Uttar Pradesh Chief Minister Yogi Adityanath inaugurated the 'Youth adda' and launched a mobile application 'CM Yuva' in an effort to promote entrepreneurship in the state and help the youth with employment on the occasion of International MSME Day. The Uttar Pradesh Chief Minister congratulated the small and big entrepreneurs of the state and more than 2 crore employees in the Mirco, Small and Medium Enterprises (MSME) across the state, while also highlighting that the state is moving towards the idea of 'One District One Product' which has helped various areas to develop products on their own. 'Perfume from Kannauj, hardware from Aliganj, Chikankari from Lucknow, Dholak of Amroha, Barsuri of Pilibhit, today people have got a chance to move forward everywhere, people have moved forward,' CM Yogi said during his speech at the program. 'If the government works without discrimination, then development comes fast in the state. We gave training and after training we are giving tool kits,' he added. Talking about the CM Yuva app, the Chief Minister mentioned that more than 90 lakh MSME units have been started under the Mukhyamantri Yuva Swarozgar Yojana (CM-Yuva), which also helps people get an interest-free loan upto Rs 5 lakh. According to the CM, more than 55,000 people have joined the scheme. '90 to 96 lakh MSME units have also been given security guarantee. We have started an app in the name of CM Yuva. If any youth wants to do business, then under this we are helping up to 5 lakhs without interest. Today 55 thousand youth are connected with it.' Highlighting the transformation the state has gone through, he said that prior to 2017, that is before the Bharatiya Janata Party-led government was formed, UP was known for mafia and goons, hitting out at the Opposition Samajwadi Party. (ANI)
Hans India
11 hours ago
- Business
- Hans India
MSME minister stresses on embracing new technologies
Tirupati: Minister for MSME Kondapalli Srinivas stressed the importance of embracing new technologies and seizing emerging opportunities for the accelerated growth of micro, small and medium enterprises (MSMEs). He was speaking at the World MSME Day 2025 celebrations held here on Friday. He stated that the government is offering various welfare schemes to MSMEs, including under the RAMP scheme, where Intellectual Property (IP) support, skill development, and business development services are being prioritized and are being extended to the district level. The minister said district collectors would play a key role in implementing MSME support services tailored to local needs. He outlined the government's vision to help micro enterprises evolve into small enterprises and small enterprises into medium ones. Srinivas emphasised that the Chief Minister is paying special attention to MSMEs and announced the government's decision to establish one MSME Park in each of the 175 Assembly constituencies. These parks, located close to rural areas, will help reduce workforce migration and operating costs. Some parks will be sector-specific, such as aerospace-related MSME parks near ISRO facilities. Both public and private players are encouraged to set up these parks, and landowners with large tracts of land are invited to collaborate with the government. District collector Dr S Venkateswar noted the presence of various MSME segments in the district, including auto components, engineering, agro-based and food processing industries, textiles and garments, handicrafts, traditional arts, electronics and electrical goods, packaging, printing, and service-based enterprises. In the employment generation programme for the financial year 2024–25, the district exceeded its target of 186 units by establishing 647 units. AP MSME Development Corporation chairman Tammireddy Siva Sankara Rao said that MSMEs provide 11 crore jobs through 6.8 crore enterprises in the country and added that during economic slowdowns and even the Covid-19 pandemic, MSMEs withstood pressures better than large industries. State government advisor S Somanath highlighted the government's proactive measures to support MSMEs, including provision of credit and infrastructure. He lauded the 'One Entrepreneur per Household' vision as a transformative idea. Tirupati MLA Arani Srinivasulu, Satyavedu MLA K Adimulam and Corporation CEO M Vishwa also spoke on the occasion which was attended by Joint Collector Shubham Bansal, AP Greenery and Beautification Corporation Chairperson M Sugunamma and others. As part of the celebrations, the Andhra Pradesh MSME Development Corporation signed MOUs with nine institutions and organisations – National Research Development Corporation (NRDC), MSME Technology Centre, Pudi, Visakhapatnam. National Institute for MSME (NI-MSME), Hyderabad, National Institute of Design (NID) in a tripartite agreement with SERP and APMSMEDC, National Productivity Council (NPC), Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE), Small Industries Development Bank of India (SIDBI), Federation of Indian Export Organisations (FIEO) and National Stock Exchange (NSE).
