Latest news with #MSMEs
Times of Oman
2 hours ago
- Business
- Times of Oman
Govt revises biomass guidelines to boost bio energy and ease of doing business
New Delhi: The Centre has revised guidelines for the Biomass Programme under Phase-I of the National Bioenergy Programme to promote cleaner energy solutions, ease of doing business, and accelerate the adoption of biomass technologies across the country, according to a statement. "The Ministry of New and Renewable Energy (MNRE) has issued revised guidelines for the Biomass Programme under Phase-I of the National Bioenergy Programme, applicable for the period FY 2021-22 to 2025-26. These amendments aim to promote cleaner energy solutions, ease of doing business, and accelerate the adoption of biomass technologies across India," the statement said. Under the new framework, Ministry has simplified several processes, such as cutting down on paperwork and easing approval requirements, which will enable the industry especially MSMEs to enhance their production. These changes align well with improvement of stubble management and India's broader goal of reaching net-zero emissions by 2070, the statement added. One of the major highlights of the revision is technological integration by enabling the use of IoT-based monitoring solutions or quarterly data submissions instead of expensive and high-tech systems like SCADA. This cost-effective step promotes digital monitoring and accountability, especially for smaller business operators. The guidelines also encourage significant simplification of documentation requirements. Developers of briquette and pellet manufacturing plants will no longer be required to submit a number of documents related to clearance matters. This change will save time, and promote ease of doing business. In a move to enhance operational flexibility, the earlier requirement for a two-year briquette or pellet sale contract has been replaced with a general sale agreement. This change will allow project developers to respond more dynamically to market conditions without being constrained by long-term contracts, as per the Ministry's statement. The amended guidelines allow flexible selling of biomass products, meaning businesses no longer need long-term contracts to get started. Furthermore, the subsidy disbursement mechanism under the Central Financial Assistance (CFA) component has been made performance-based and transparent. Projects that run efficiently, above 80%, will receive full financial assistance, while below 80 percent will receive on pro-rata basis. The performance inspection period has been simplified. Earlier, it has to be done within a period of 18 months from the date of commissioning, but now, it can be carried out within 18 months period either from the commissioning date or from the date of In-principle approval, whichever is later. Additionally, to cater on-ground operational challenges of developers, Secretary, MNRE may extend the time period, the Ministry added. During inspection, a performance report was made on the basis of Operation Plant at an average of 80 per cent of rated capacity measured over a period of three consecutive days, taking average 16 Hrs per day. However, now it has been reduced to just 10 hours as the inspection process primarily aims to verify the claimed and operational capacities and inspection for 10 hours of continuous operation would suffice for this purpose. Recognising the urgent need to address air pollution, especially from stubble burning in northern India, the new guidelines include a provision allowing biomass pellet producers in Delhi, Punjab, Haryana, and NCR districts of Rajasthan and Uttar Pradesh to choose the most beneficial support scheme, either from MNRE or CPCB. These revisions will not only support the smooth implementation of the biomass programme and timely delivery of approved financial support to commissioned plants, but also encourage the sector to establish more biomass-based plants. This would ultimately help in addressing the menace of crop residue burning and ensure sustainable management of agricultural waste. Overall, the updated guidelines will make it easier for businesses to adopt biomass technologies, provide financial incentives for efficient operations, and support India's clean energy efforts, all while promoting practical, business-friendly solutions to waste management and pollution reduction.
Malay Mail
2 hours ago
- Business
- Malay Mail
Analyst: Asean integration fuels push for independent regional financial system
KUALA LUMPUR, June 28 — Greater economic integration among the members of the Association of Southeast Asian Nations (Asean) is accelerating efforts to build an independent and resilient regional financial system, aimed at reducing reliance on external currencies and enhancing monetary stability across Southeast Asia, according to a Malaysian analyst. These moves are not meant to target any specific country but rather reflect a desire to move away from external financial volatility and facilitate transactions using local currencies for intra-Asean trade, which will enable seamless cross-border transactions, provide greater market access for micro, small and medium enterprises (MSMEs), as well as boost regional tourism, Lee Pei May, a political expert at the International Islamic University Malaysia, said in an interview with Xinhua. 'The push for the use of local currencies has been ongoing for some time, as it helps strengthen the economic integration of Asean member states—an important goal that Asean seeks to pursue. In fact, other regions are also moving away from relying too heavily on a single foreign currency, such as the US dollar, as external interest rates and shifting government policies may cause significant volatility in currency exchange,' she explained, adding that volatility is undesirable in any business. 'Apart from the benefits of easier and faster transactions between businesses and banks of Asean countries through the use of local currencies, cross-border payments in local currencies can also help to avoid volatility from outside the area,' she said. Lee also said that allowing cross-border settlements in local currencies would be faster and cheaper, and singled out the tourism sector as a big winner, as tourists in the region will not need to go through the hassle of changing physical money when visiting other Asean states. 'The Regional Payment Connectivity (RPC) initiative was first established to strengthen payment connectivity among the five Asean members, notably Malaysia, Thailand, Singapore, Indonesia and the Philippines. To date, the initiative has expanded to include central banks of Vietnam, Laos, Brunei and Cambodia,' she said. 'The participation would bring about seamless cross-border transactions and boost tourism in the region. Under the local currency settlement framework, many national payment systems have been linked, such as between Malaysia and Indonesia,' Lee stated. She also noted that the Asean push for local currencies and reduced dependency on external monetary systems has gained momentum amid growing awareness of the risks posed by relying on the US dollar. 'In the past, certain currencies were viewed as stable, but due to increasingly unpredictable global developments, this perception is shifting,' Lee said, adding that if economic tools were to be used to exert pressure on policy differences, it could have negative implications. 'Such risks, even if unlikely, remind us why building regional financial resilience is critical.' — Bernama-Xinhua
Time of India
3 hours ago
- Business
- Time of India
Infra push for MSMEs: Plug-and-play industrial parks key to boosting manufacturing, says Cushman & Wakefield report
Accelerating the rollout of plug-and-play industrial parks, improving logistics infrastructure, and targeted skilling are essential for boosting India's manufacturing output and self-reliance, according to real estate consultancy Cushman & Wakefield. In its latest report, Elevating India's Manufacturing Resilience: Charting the Path to Self-Reliance, based on responses from 94 senior decision-makers across India's manufacturing and logistics sectors, the consultancy outlines how industry and policy alignment is unlocking capacity, especially for MSMEs. 'India's manufacturing sector is undergoing a structural shift. Our findings indicate a strong alignment between infrastructure investment, policy clarity, and industry intent,' said Gautam Saraf, Executive Managing Director, Mumbai & New Business at Cushman & Wakefield, PTI quoted. Saraf said 88% of manufacturers surveyed are scaling up due to improved infrastructure, and 95% cite better logistics access thanks to government-backed initiatives. However, sustaining this momentum will require 'addressing deep-rooted cost and capacity gaps, especially in logistics, integrated facilities, and MSME productivity.' The report flags four core challenges: high logistics cost, warehousing capacity shortfall, low value addition, and skill gaps. It recommends a five-pronged strategy—accelerating plug-and-play industrial parks, redefining MSME thresholds to foster scale, fast-tracking multimodal logistics parks, boosting skill development, and digitising MSME export support. 'Plug-and-play industrial parks, multimodal logistics networks, and improved land aggregation frameworks are not just enablers, they are essential levers for converting policy momentum into production-ready outcomes,' Saraf said. Abhishek Bhutani, Managing Director, Logistics & Industrial Services India and Head – Gujarat, Cushman & Wakefield said, 'Pre-approved, infrastructure-ready zones are helping reduce time-to-market, lower upfront capex, and mitigate operational risks—especially for MSMEs looking to scale.' He added that success for companies expanding into new regions will depend on access to integrated ecosystems combining logistics, skilled labour, and multimodal connectivity, PTI reported. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hans India
3 hours ago
- Business
- Hans India
Over 10 lakh micro and small enterprises join Government e-Marketplace
New Delhi: More than 10 lakh micro and small enterprises (MSEs) have joined the Government e-Marketplace (GeM) portal and total transaction value on GeM has reached around Rs 5.40 lakh crore in FY2024-25, a top government official said on Saturday. Ajit B Chavan, Additional CEO, GeM, said the platform is a window for the MSMEs for supplying to government departments. Addressing at a PHDCCI event on the occasion of the 'World MSME Day,' he shared about the transparency of the GeM portal and opportunity it offers to the MSMEs for supplying goods to various departments. Chavan further highlighted about the GeM Sahay, which brings a complete financing solution for small businesses on GeM. The app assists in availing instant financing to serve the Government orders without any hassle. DP Goel, Co-Chair, MSME Committee, PHDCCI, stressed upon the need for rural entrepreneurship development to promote businesses and employment in the remote areas for their growth and development. Dr HP Kumar, former CMD, NSIC and advisor, PHDCCI mentioned that MSMEs are increasingly seen as a model for other countries due to their significant contributions to economic growth, job creation and innovation, particularly in developing nations. 'Their agility, adaptability, and ability to foster entrepreneurship make them attractive examples for other economies to emulate. He also stressed on the need for new enterprise creation while promoting the existing ones for their capacity building and growth,' he highlighted. V.K. Jain, Senior Manager, National Research Development Corporation (NRDC), highlighted that NRDC is India's leading technology transfer organisation with seven geographical footprints all over India to cater to the different technology requirements of MSMEs and startups. He also shared some examples of success stories of NRDC in commercialising the technologies, urging the participants to reach out to NRDC for any technology or IPR support required by the MSMEs and start-ups.
Hans India
3 hours ago
- Business
- Hans India
Govt building e-commerce export hubs to empower MSMEs
New Delhi: The government is laying the foundation for a next-generation export ecosystem -- one that is digital-first, logistics-enabled and MSME-inclusive, Moin Afaque, Joint Director General of Foreign Trade (DGFT), said on Saturday. Addressing the India SME Forum's 'MSME Day Conclave 2025' here on creating a robust ecosystem for MSME e-commerce exports, he said that upcoming e-commerce export hubs are inspired by global best practices and will function as single-window zones for logistics, certification and regulatory support. 'With five pilot hubs already approved and more in the pipeline, we aim to scale this model across the country,' he told the gathering. The event underscored the urgent need for digital transformation, enhanced export readiness, and robust trade facilitation to unlock the true potential of Indian small businesses on the world stage, while closing market access gaps for Indian MSMEs to scale globally. 'Global supply chains are shifting, and India is emerging as the trusted alternative. This opens a huge opportunity for MSMEs to go global, especially through e-commerce,' said Vinod Kumar, President, India SME Forum. 'Buyers are choosing Indian products even at 5–7 per cent higher prices because of the trust and reliability we offer. With over 45 countries easing market access, e-commerce exports are fast becoming a powerful growth engine. This is India's moment, and MSMEs are leading the way,' he noted. The highlight of the conclave was the National MSME Impact Awards 2025, that recognised exceptional work by state governments, financial institutions, and solution and service providers who have gone beyond conventional mandates to catalyse systemic change and build inclusive support frameworks for MSMEs. Winners included Bank of Baroda for Public Sector Bank and HDFC Bank for Private Sector Bank. Amazon won gold in the Best Exports Platform and Best E-Marketplace categories, while Microsoft led the Technology Providers category and Google led the Digital Solutions category. DHL topped the Logistics Solutions category and New India Assurance won the Best Insurance Provider award, according to India SME Forum.
