Latest news with #MSMEDay
Hans India
12 hours ago
- Business
- Hans India
Robust MSME ecosystem key for sustainable growth: Prez
New Delhi: A robust micro, small, and medium enterprises (MSME) ecosystem is not only important but also essential for the country's sustainable economic development, President Droupadi Murmu said on Friday. Addressing the 'MSME Day' celebration in the national capital, she said that MSMEs are a strong pillar of the country's economy. 'They contribute significantly to GDP and promote innovation at the grassroots level. These enterprises generate more employment opportunities at a relatively low cost of capital. Most importantly, these enterprises generate employment in rural and backward areas,' Murmu told the gathering. She said that there is no doubt that the MSME sector is playing an important role in the progress of the country. 'However, this sector also faces many challenges, the major ones among them being the problem of finance, competition from big corporations, lack of latest technology, lack of raw material and skilled workforce, limited market and delayed payment,' the President emphasised.
Time of India
17 hours ago
- Business
- Time of India
Defence forces seek more MSME participation from eastern region
1 2 3 Kolkata: Defence forces are keen to enrol more micro, small and medium enterprises from the eastern region, including Bengal, and have sought the support of leading chambers to work as a bridge with local MSMEs for defence manufacturing. At the BCC&I Atmanirbhar Bharat Award & Conclave in the city on Friday, defence officials appealed to the MSME sector to come forward. Arjun Kumar, additional director of directorate of technology development fund of DRDO, said the organisation was pushing new projects for developing indigenous capabilities. According to him, the number of projects from the eastern region was fewer compared to the south, especially Hyderabad. "There are a few companies from Assam and Bengal involved in the projects. There are 80 projects under the fund but only 4-5 from the east," Kumar added. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata Arunava Bhattacharya, officer in charge, QAE (Naval), Kolkata, said Indian Navy was on a massive shipbuilding spree and needed indigenous manufacturers. "We want to increase our vendor base here. Once, Bengal MSMEs used to be a major supplier of components to the navy and other defence forces," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo Sushil Mohta, chairman of World Trade Center, NDITA, during his presentation, said it was facilitating Indian MSME participation at Oil & Gas Asia, Kuala Lumpur, Malaysia, for the first time. "WTC will play a catalytic role in promoting international trade opportunities for MSMEs here by leading a 20-member business delegation," he said. Meanwhile, FICCI West Bengal State Council organised the 6th edition of 'Empowering MSMEs for a Sustainable Future' on Friday. MSME secretary Rajesh Pandey said Bengal has over 93 lakh enterprises and the highest number of women-led enterprises in the country. The Merchant's Chamber of Commerce also organised a seminar on MSME Day.
India Today
a day ago
- Business
- India Today
Maharashtra partners with Nasscom foundation to boost micro-entrepreneurship
Aligned with MSME Day, Nasscom Foundation signed a flagship Memorandum of Understanding (MoU) with the Maharashtra Small Scale Industries Development Corporation Ltd. (MSSIDC), Government of Maharashtra. The collaboration aims to drive a large-scale capacity building program focused on strengthening the competitiveness and sustainability of 15,000 Udyam-registered micro and small entrepreneurs across the state with special focus on empowering women entrepreneurs. Nasscom Foundation will work closely with MSSIDC officials and the KPMG-led State Program Implementation Unit to strengthen the capacities of these micro initiative will be implemented under the Raising and Accelerating MSME Performance (RAMP) Programme, supported by the World Bank. It focuses on women entrepreneurs across key sectors such as energy efficiency, textiles, coir, handicrafts, renewable energy, manufacturing, waste management, and ODOP industries, enabling them with better access to digital tools, finance, and and training on the (Intellectual Property Rights) IPR Scheme for MSMEs, guidance on loans and digital loan application processes, and financial knowledge and managThrough this project, Nasscom Foundation will deliver a structured capacity-building program focused on three critical areas. ement. The initiative is designed not just to inform but to equip entrepreneurs with practical tools they need to formalize their businesses, access credit, and scale sustainably. Jyoti Sharma, CEO, Nasscom Foundation, emphasizing on the need for this initiative in today's business landscape commented, "Our MSMEs don't lack ideas, they often just lack access. This partnership with Maharashtra Small Scale Industries Development Corporation is about changing that. By offering targeted capacity building, we are not only supporting the entrepreneurs especially the women entrepreneurs, understand policies and processes but giving them the tools to build stronger, more resilient businesses. It's a step toward making India's MSME sector truly inclusive, digitally equipped, and globally competitive."advertisementPrashali Jadhav Dighavkar, Joint Managing Director, Maharashtra Small Scale Industries Development Corporation Ltd., said, "Strengthening MSMEs is central to driving Maharashtra's economic growth, and Intellectual Property Rights (IPRs) are a critical part of that journey. By building awareness about IPR across the state, we aim to equip small-scale industries with the knowledge and tools they need to protect their innovations and scale sustainably. These joint efforts are not just about legal awareness-they are about fostering innovation, encouraging ideation, and enabling the incubation of new businesses and entrepreneurial ventures that will shape the future of Maharashtra's MSME ecosystem."While MSMEs form the backbone of India's economy, they continue to face systemic challenges such as informal operations, limited access to credit, lack of awareness about government schemes, and weak digital adoption. This program addresses these challenges by offering entrepreneurs clarity, capability, and connection. By focusing on practical knowledge, scalable delivery, and strong government collaboration, this initiative aims to build a stronger, more future-ready MSME ecosystem in Maharashtra-and eventually, across Maharashtra Small Scale Industries Development Corporation Ltd., (MSSIDC), was established on October 19, 1962, with a view to giving a new orientation and strength to the development of Small Scale Industries (SSI) in the State of Maharashtra. The main objective of MSSIDC is to aid, counsel, assist, finance, protect and promote the interests of Small Industries. The Corporation renders assistance to approximately 30000 SSI units in the State. MSSIDC plays a vital role in revival, development, and growth of traditional handicrafts of Maharashtra by responding to the diversified needs of rural artisans and marketing their products in India as well as abroad.- Ends
Time of India
a day ago
- Business
- Time of India
Nasscom Foundation Signs MoU with Maharashtra Small Scale Industries Development Corporation Ltd.
Mumbai: Aligned with MSME Day , Nasscom Foundation signed a flagship Memorandum of Understanding (MoU) with the Maharashtra Small Scale Industries Development Corporation Ltd . (MSSIDC), Government of Maharashtra. The collaboration aims to drive a large-scale capacity building program focused on strengthening the competitiveness and sustainability of 15,000 Udyam-registered micro and small entrepreneurs across the state with special focus on empowering women entrepreneurs . Nasscom Foundation will work closely with MSSIDC officials and the KPMG-led State Program Implementation Unit to strengthen the capacities of these micro entrepreneurs. The initiative will be implemented under the Raising and Accelerating MSME Performance (RAMP) Programme, supported by the World Bank. It focuses on women entrepreneurs across key sectors such as energy efficiency, textiles, coir, handicrafts, renewable energy, manufacturing, waste management, and ODOP industries, enabling them with better access to digital tools, finance, and information. Through this project, Nasscom Foundation will deliver a structured capacity-building program focused on three critical areas. Awareness and training on the (Intellectual Property Rights) IPR Scheme for MSMEs, guidance on loans and digital loan application processes, and financial knowledge and management. The initiative is designed not just to inform but to equip entrepreneurs with practical tools they need to formalize their businesses, access credit, and scale sustainably. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo Jyoti Sharma, CEO, Nasscom Foundation, said, in a statement, 'Our MSMEs don't lack ideas, they often just lack access. This partnership with Maharashtra Small Scale Industries Development Corporation is about changing that. By offering targeted capacity building, we are not only supporting the entrepreneurs especially the women entrepreneurs, understand policies and processes but giving them the tools to build stronger, more resilient businesses. It's a step toward making India's MSME sector truly inclusive, digitally equipped, and globally competitive.' Prashali Jadhav Dighavkar, Joint Managing Director, Maharashtra Small Scale Industries Development Corporation Ltd., said, 'Strengthening MSMEs is central to driving Maharashtra's economic growth, and Intellectual Property Rights (IPRs) are a critical part of that journey. By building awareness about IPR across the state, we aim to equip small-scale industries with the knowledge and tools they need to protect their innovations and scale sustainably. These joint efforts are not just about legal awareness—they are about fostering innovation, encouraging ideation, and enabling the incubation of new businesses and entrepreneurial ventures that will shape the future of Maharashtra's MSME ecosystem.' Live Events While MSMEs form the backbone of India's economy, they continue to face systemic challenges such as informal operations, limited access to credit, lack of awareness about government schemes, and weak digital adoption. This program addresses these challenges by offering entrepreneurs clarity, capability, and connection. By focusing on practical knowledge, scalable delivery, and strong government collaboration, this initiative aims to build a stronger, more future-ready MSME ecosystem in Maharashtra—and eventually, across India.
Deccan Herald
a day ago
- Business
- Deccan Herald
Five mantras India's MSMEs must follow to scale up
As the world gears up to celebrate the MSME Day, the micro, small, and medium enterprises (MSMEs) in India stand at transformative from April 1, the classification limits for MSMEs have been raised dramatically: with the investment caps increased by 2.5 times and the turnover limits doubled. Micro enterprises can now have investments in plant and machinery or equipment up to ₹2.5 crore, and record turnover up to ₹10 crore, while small enterprises can go up to ₹25 crore and up to ₹10 crore respectively, and medium enterprises can scale up to ₹125 crore in investment and ₹500 crore in turnover. The move is a shot in the arm for MSMEs, helping them scale up without losing access to government sops for the sector. It also serves as a boost to job creation and capital growth ambitions are fuelled on the one side, the MSME sector is riddled with several challenges that continue to cast a long shadow over the sector's progress: the persistent problem of lower bargaining power vis-à-vis their bigger customers, resultant delayed payments and liquidity crises, inability to withstand competition from big players who can harness the benefits of economies of scale, unorganised and informal nature of operations, slower adoption of technology, relative inaccessibility of low-cost funding options, to name a considering scheme to help MSME exporters register goods in new markets: up brings new complexities and risks: larger operations, more employees, wider supply chains, and more exposure to market fluctuations. Hence, to scale up confidently, MSMEs must learn to straddle both resilience-building and growth resilience in MSMEs requires a comprehensive multi-pronged approach. The pandemic, for one, taught us that resilience is not a luxury but a Funding and Prudent Credit Management: To scale up, MSMEs need new funding. With enhanced credit guarantee schemes, roll out of credit card facilities for MSMEs, bill-discounting facilities, especially the TReDS platform (Trade Receivables Discounting System), and digital lending platforms, the sector now has more options than before. However, prudent financial management is keep the cost of capital minimum and to avoid mismatch of cash inflows and outflows, MSMEs should diversify funding sources and judiciously mix and match them. This also avoids over-reliance on any single funding channel. Maintaining healthy cash reserves and tracking receivables are evergreen essentials, especially given the challenge of delayed Transformation: Digital adoption is no longer optional. Implementing cloud-based accounting, ERP (Enterprise Resource Planning) and basic GRC (Governance, Risk and Compliance) systems, will help streamline operations, build better internal controls, and ring in good governance. It sure will entail initial cash outflows, but it will pay for itself many times over, by building reliable systems that infuse growth with for software-as-a-service or infrastructure-as-a-service models offers flexibility to scale up or down as needed, on demand and on the go. Embracing agentic AI and generative AI in various processes can simplify and strengthen processes, while AI-driven analytics can help MSMEs predict market trends and manage risks proactively. E-commerce platforms and digital marketing avenues can open new revenue streams, and reduce dependence on local markets, providing a buffer against the vagaries of local Chain and Market Diversification: As growth beckons, building resilient supply chains is indispensable. MSMEs must build relationships with multiple suppliers, explore local sourcing as well as imports, wherever appropriate, and leverage digital procurement tools to ensure seamless on-tap procurement. Similarly, on the downstream side of the supply chain, exploring new distribution channels, and tapping into export markets or diversifying into different regional customer bases can help spread risk while unlocking new growth and Compliance: As MSMEs scale, robust governance becomes critical. This is more so if MSMEs want to approach private equity or hit the public market through equity IPOs, which will give access to large capital without necessitating interest payments or mandatory repayments. Regular statutory and internal audits, tax and labour law compliance, robust accounting, and adherence to other legal and regulatory requirements demonstrate accountability, build investor confidence, and help prevent governance Adopting sustainable practices like energy efficiency, waste reduction, ethical sourcing and hiring practices, can have a multiplier effect on resilience. Not just that, sustainable practices are increasingly demanded by end customers and investors. Embracing sustainability and demonstrating it through sustainability reporting not only reduces operational risks but also enhances brand value and opens doors to new road ahead for MSMEs is lush with opportunities, while also being freckled with risks. It is all about dreaming with eyes open, while staying grounded, and keeping the business guarded against the known unknowns and the unknown unknowns. For now, it is time to celebrate India's entrepreneurial spirit with renewed fanfare and Ganapathy Subramanian is a Chennai-based practising company secretary, and Ranjith Krishnan is a Thane-based sustainability The views expressed above are the author's own. They do not necessarily reflect the views of DH.
