MSME Day 2024: Commemorating the MSME Day 2024 on Thursday, MSME Minister Jitan Ram Manjhi launched a new Trade Enablement & Marketing (TEAM) scheme with an outlay of Rs 277.35 crore for three years (2024-27) to boost e-commerce access for MSEs (micro and small enterprises) via the government’s open e-commerce network Open Network for Digital […]
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According to the United Nations Conference on Trade and Development, formal and informal MSMEs make up over 90% of all companies worldwide, average of 70% of total employment and 50% of GDP. MSME Day 27th June 2024: World MSME Day is celebrated annually on June 27, designated by the United Nations General Assembly and dedicated to […]
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The MSME Ministry has proposed the Trade Enablement & Marketing Scheme to help MSEs onboard ONDC. The MSEs will be provided subsidies via seller network participants to help cover costs for services like creating catalogues, managing accounts, packaging, and logistics. Earlier this year, ONDC also launched the Digi Ready Certifications (DRC) portal for the MSME […]
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The Government is planning to revamp the production-linked incentive (PLI) scheme for the telecom sector in a bid to quickly boost exports and incorporate more micro and small units into the manufacturing ecosystem. Funding for the expanded scheme may not be a challenge since the Department of Telecommunications (DoT) has surplus funds of more than […]
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Record-Breaking Fundraising in First Half Since SME Platform Launch In the first half of 2024, fundraising through initial public offerings (IPOs) of small and medium enterprises (SMEs) has achieved a significant milestone, reaching Rs 3,095 crore by June 13. This amount is approximately two-thirds of the total Rs 4,686 crore raised throughout 2023, marking the […]
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Mr. Chandrakant Salunkhe, Founder & President, SME Chamber of India & Federation of Indian SME Associations felicitated Mr. Jiten Ram Majhi, Union Minister for MSMEs on his appointment as a Minister. Mr. Salunkhe had briefed about the current economic scenarios of MSME sectors, their issues, hurdles for further growth, various initiatives to be taken to […]
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According to estimates a whopping Rs 10.7 lakh crores – is locked up in delayed payments from buyers to suppliers in the Indian economy – an estimated 7.8 per cent of the GDP, with 80 per cent of this estimated amount owed to micro and small enterprises, totalling Rs 8.55 lakh crore. The government and […]
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India’s industrial production growth rate dipped to 4.9% in March 2024, down from 5.7% in February. Despite this, the Index of Industrial Production (IIP) for FY24 recorded a modest increase to 5.8%. India’s industrial production growth rate decelerated to 4.9% in March 2024 compared to 5.7% in February, as per data from the Ministry of Statistics and Programme Implementation. […]
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Mumbai : Micro, medium and small enterprises and their workforce in the state have threatened to opt for NOTA this election as a mark of protest for ignoring their demand for a separate MSME secretariat to coordinate and resolve issues of poor promotional and infrastructural support to them. Maharashtra has the highest number of small […]
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The Union Minister for Micro, Small and Medium Enterprises, Shri Narayan Rane laid the foundation stone of MSME-Technology Centre, Sindhudurg, Maharashtra today. Sindhudurg Audyogik Mahotsav and Self Employment Conclave were also inaugurated by the Minister on this occasion. Additional Secretary and Development Commissioner, AS&DC (MSME), Dr Rajneesh and other senior officers of the Ministry and […]
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