Year-Ender 2017: Major policy initiatives, achievements of MSME Ministry
SME Times News Bureau | 22 Dec, 2017 |
| The Ministry of Micro, Small & Medium Enterprises (MSME) envisions a vibrant MSME Sector by promoting growth and development of the MSME Sector, including Khadi, Village and Coir Industries, in cooperation with the concerned Ministries/Departments, State Governments and other Stakeholders, through providing support to existing enterprises and encouraging setting-up of new enterprises. |
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5 smart resolutions for the New Year
Patanjali Somayaji | 19 Dec, 2017 |
| More than half of December is gone, and this is a good time to not just make a to-do list for 2018 but also stick to it and complete it. Here are five smart resolutions to make for the coming year -- compiled by Patanjali Somayaji, Co-Founder of the Walnut App. |
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India losing comparative advantage in leading export sectors
Amit Kapoor & Chirag Yadav | 11 Dec, 2017 |
| In a massive relief to Indian exporters, the government announced liberal incentives of Rs 8,450 crore ($1.3 billion) in its mid-term review of the five-year foreign trade policy (FTP) that was rolled out in 2015 and aimed at increasing the export of goods and services to $900 billion by 2020. Exports, meanwhile, declined from $468 billion to $437 billion between 2014-15 and 2016-17. |
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If not now then when? Living the Great Indian Dream
Saket Suman | 01 Dec, 2017 |
| There's talk that the country has lost track and is headed in a direction not envisaged by those who fought for our independence from colonial rule. Those growing up today are faced with the unnerving challenge to thrive against all future obstacles -- increasing population, decreasing jobs and unmatched inflation -- that, they are told, awaits them. Yet we are doing fine. |
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GES 2017: Put Indian women entrepreneurs first
Frank F. Islam | 27 Nov, 2017 |
| On November 28-30 in Hyderabad, India and the US will jointly host the Global Entrepreneurship Summit. This is the eighth annual summit which was the brainchild of former US President Barack Obama. It has been held in other locations such as Istanbul, Dubai and Silicon Valley. The theme for this year's Summit is "Women First, Prosperity for All". |
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Entrepreneurship is a lonely path for women
Aparajita Gupta | 20 Nov, 2017 |
| Being a woman entrepreneur may be aspirational for many, but is it easy being one? As people celebrate women entrepreneurship day on 19th November, many of them say entrepreneurship is not for the faint-hearted and it's important to have self-belief in a path strewn with bureaucratic and gender obstacles. |
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Is doing business in India really easier now?
Amit Kapoor | 14 Nov, 2017 |
| Prime Minister Narendra Modi's efforts in building India's global appeal for investors seems to have finally yielded returns in terms of the country's performance in the World Bank Doing Business rankings. |
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Effects of demonetization still persisting: Survey
Saurabh Gupta | 09 Nov, 2017 |
| The effects of demonetization are still persisting as demand in the economy is still lacklustre and business firms are still not enthusiastic in production process said Anil Khaitan, President, PHD Chamber of Commerce and Industry in a press statement issued in New Delhi on Wednesday. |
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How SMEs can write effective corporate travel policies
Vishal Sinha | 26 Oct, 2017 |
| India is the world's fastest growing major business travel market. According to the Global Business Travel Association (GBTA), business travel spend in India is forecast to reach close to USD 37 billion in 2017, and India is expected to become the world's sixth largest business travel market by 2019. |
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DeMon: Modi govt shoots itself in the foot
Amulya Ganguli | 24 Oct, 2017 |
| Much of the efforts of the Bharatiya Janata Party (BJP) leaders to explain away the current economic slowdown as the result of "technical" glitches, as party president Amit Shah tried to do, or as teething troubles of demonetisation and the Goods and Services Tax (GST), are likely to be seen as instances of whistling in the dark to keep up the party's spirits ahead of a series of state assembly elections. |
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Will a India-EU trade breakthrough happen?
Bhaswati Mukherjee | 12 Oct, 2017 |
| It was a summit based on huge expectations on both sides, the first between the leaders of India and the European Union since Brexit. The meeting was rich in symbolism, marking 55 years of diplomatic relations between the world's two largest democracies. Political goodwill and determination to overcome road blocks were evident in the body language and statements emanating from the leaders, with the President of the European Council, Donald Tusk, quoting Nobel laureate Rabindranath Tagore: "It is important for the two sides to swim in the same direction despite their differences". |
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Combating Corruption
V. Srinivas | 03 Oct, 2017 |
| India's fight against corruption is led by a robust and time tested institutional and legislative framework including the Prevention of Corruption Act, an independent Central Vigilance Commission, the Comptroller and Auditor General, the Judges (Inquiry) Act, the Lok Pal and Lok Ayukta Act 2013, Whistle Blowers Protection Act 2011, Prevention of Money /Laundering Act, Benami Transactions (Prohibition) Act which cover a number of areas of criminalization and bribery. All civil servants are mandatorily required to declare their assets on an annual basis. |
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Gold will not glitter this Diwali!
Aparajita Gupta | 25 Sep, 2017 |
| With Goods and Services Tax (GST), demonetisation and Anti-Money Laundering (AML) regulations coming into effect, gold will not glitter much this Diwali, feels Somasundaram P.R., Managing Director - India of the World Gold Council (WGC). |
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C2C e-commerce bridging gap, paving the way for SMEs
Porisma P. Gogoi | 11 Sep, 2017 |
| Aiming to ease hurdles faced by small sellers to showcase products online, many e-commerce platforms are offering incentives to bridge the gap by removing intermediaries and delivering products from the small and medium enterprises (SMEs) to consumers. |
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Demonetisation may have hurt more than it helped
Amulya Ganguli | 04 Sep, 2017 |
| It will take time for the economists to figure out whether the fall in the growth rate to 5.7 per cent is the result of the disruption caused by demonetisation and the Goods and Services Tax (GST), but most of the common people will see a connection between the two steps and a slowing down of the economy. |
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Need of the hour is to keep the core of Infosys intact
Amit Kapoor | 22 Aug, 2017 |
| Vishal Sikkas exit from Infosys seems to have been accentuated by the streak of comments made by co-founder N.R. Narayan Murthy. The comments bordered on complaints, raising issues of corporate governance and at time accusations. The episode, like a soap opera with significant twists and turns, has been played in public glare over the last few months. |
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Shared value an important lever in PM's vision of New India 2022
Amit Kapoor | 16 Aug, 2017 |
| On the 75th anniversary of the Quit India movement, Prime Minister Narendra Modi urged citizens to create a new India by 2022 by freeing the country from poverty, corruption, dirt, terrorism, casteism, and communalism. To fulfill this vision of a new India, it's important that all stakeholders come together and support the governments efforts on eradicating these evils. |
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Trump's threat against North Korea: Credible or premature articulation?
Mayank Chhaya | 11 Aug, 2017 |
| The problem with issuing a dire ultimatum as a first response to a traditionally bellicose regime is that the one issuing it is boxed in. That could well be the problem that President Donald Trump could likely face as he deals with North Koreas supreme leader Kim Jong-Uns increasingly aggressive moves threatening the United States. |
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Hope looms large for the handloom sector
K V Venkatasubramanian | 07 Aug, 2017 |
| From ancient times, Indian handloom products have been identified by their impeccable quality. These include muslin of Chanderi, silk brocades of Varanasi, the tie and dye products of Rajasthan and Orissa, the Chintas of Machhlipatnam, the Himroos of Hyderabad, the Khes of Punjab, the prints of Farrukhabad, the Phenek and Tongam and bottle designs of Assam and Manipur, the Maheshwari sarees of Madhya Pradesh and the Patola sarees of Vadodara. |
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GST: Great instrument to help poor move up the ladder
Prakash Chawla | 25 Jul, 2017 |
| Unlike what economists and other commentators have been telling us as to how the GST would push the country's Gross Domestic Product and make life easier for the trade and industry, the launch film showed a much broader aspect of the modern taxation that has the country's people, especially those economically less privileged at its core. |
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Indian SMEs, large cos open up to embracing cloud infra
Nishant Arora | 12 Jul, 2017 |
| In a data-driven age, Indian enterprises are constantly searching for a Cloud model that will best suit their needs. Taking over the traditional Software and Platform as a Service, Cloud infrastructure has taken wings owing to new IT spend coming from small and the mid-sized businesses. |
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Impact of cheap Chinese products on the Indian economy
Biz2Credit Inc. | 11 Jul, 2017 |
| Go to any goods market in India or visit any online retail site, you will find cheap Chinese products everywhere – whether it's electronic gadgets, crackers, decoration items, or other daily consumables, you will find a cheaper Chinese version for almost everything. |
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GST's red-carpet entry: Impact on consumers, traders, govt
Meghna Mittal | 30 Jun, 2017 |
| With the biggest tax reform set to receive a red carpet welcome in Parliament's Central Hall when the clock strikes midnight on June 30, the Goods and Services Tax will irreversibly impact consumers, traders, businesses as well as the revenue collection machines of the states and the centre. |
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Start-up Boom: Evolution of successful entrepreneurs in India
Porisma P. Gogoi | 19 Jun, 2017 |
| Prior to economic liberalisation, the Indian business scenario was dominanted by family-based companies or people opting for government jobs, instilled with the notion of being financially secure. There was very little or no success in being an entrepreneur. With the introduction of economic reforms in 1991, the start-up scenario started flourishing here. |
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India needs to rethink strategy for the IT sector
Amit Kapoor | 23 May, 2017 |
| The Indian IT industry is at the crossroads. It first suffered the long-expected shock of the Trump administration's policy shift against the H1B work visa programme. The US President's executive order makes it impossible for IT firms to bring overseas low-skilled engineers into the US for on-site postings. Indian IT firms, which are the largest applicants for H1B visa, have the most to lose. |
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Manufacturers gearing up for growth with strategic technology investments
Anish Kanaran | 15 May, 2017 |
| Manufacturers across the globe have kicked off the year with an optimistic eye to the future and are looking forward to nothing but net profit. 2017 is an exciting time for manufacturers gearing up for growth, and with most looking forward to the future they are investing in equipment, new manufacturing concepts such as 3D printing, and software to support digital transformation and new collaborative, connected factory floor competencies. |
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The GST Economy - One Country One Tax
Paras Singh | 04 May, 2017 |
| At present, the structure of indirect taxes in India is very complex as there are many types of taxes levied by the Central as well as State Governments of India on goods and services. Some examples are - Entertainment Tax on movies, Value Added Tax (VAT) on products and services, Excise Duties, Luxury Tax, Import Duties, Service Tax, Central Sales Tax, and so on. |
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Cashless SMEs for Digital India
Paras Singh | 26 Apr, 2017 |
| In the global business ecosystem, Indian SMEs should jump on the digitalisation bandwagon to reap the benefits that come along. This will not just establish them as greater contributors to the Indian economy, but also open new business avenues for them to leverage. |
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The benefit of zero-interest loans
Artem Popov | 18 Apr, 2017 |
| India's strong economic growth and growing income are expected to increase consumer spending to USD 3.6 trillion by 2020. The maximum consumer spending is likely to occur in consumer durables. |
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Capturing consumer attention in a competitive landscape
Amit Kapoor and Sandeep Goyal | 18 Apr, 2017 |
| Indian companies are trying innovative ways of capturing consumer attention. There are numbers of questions that will define the future of every industry in India. The sooner companies realise this reality, the better will be their chances of survival. |
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Rupee bulls shouldn't expect USD/INR to appreciate below 64-65 levels
Vatsal Srivastava | 04 Apr, 2017 |
| With the positive market sentiment created by the sweeping BJP win in the UP state election and a global sell-off in the US dollar, rupee bulls have managed to take the USD/INR close to the 65 level. Many currency traders are expecting this trend to continue, although at a slower momentum, which may take the exchange rate further down to around 62-63 levels in the coming months. But being bullish on the rupee is not supported by fundamentals at current levels. |
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GDP up but job security falls: Only 16 pc earn regular wage
Vivek Mishra & Anirban Bhattacharya | 25 Mar, 2017 |
| No more than 16.5 percent of workers earn a regular wage or salary, according to the Fourth Annual Employment & Unemployment report (2013-14), the latest available data. In another estimate, made in the same report, three in four households (78 percent) had no one earning a regular wage or salary. |
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Post assembly elections, time for bold reforms
Amit Kapoor | 21 Mar, 2017 |
| The just-concluded assembly elections and the unparalleled performance of the BJP have been the highlight of the weekend. The elections, happening mid-way of the partys term at the Centre and coming immediately post-demonetisation, were practically a referendum on Prime Minister Narendra Modis leadership. |
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Social Progress Index can complement GDP
Amit Kapoor | 27 Feb, 2017 |
| GDP is easily the most controversial measure in the field of economics. It is a measure of economic production that should have lost its relevance in a world disgusted by environmental degradation and social injustice. |
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Govt e-Marketplace - Procurement made smart
Binoy Kumar & S. Radha Chauhan | 21 Feb, 2017 |
| Government e-Marketplace is a very bold step of the Government with the aim to transform the way in which procurement of goods and services is done by the Government Ministries and Departments, Public Sector Undertakings and other apex autonomous bodies of the Central Government. |
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Budget Highlights
SME Times News Bureau |
| Highlights of the Union budget for 2017-18 presented by Finance Minister Arun Jaitley in parliament on Wednesday: |
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India's 2017 Budget: What should SME investors look for?
Dezan Shira & Associates | 27 Jan, 2017 |
| The countdown to the 2017 Union Budget has begun. The government will announce the budget on the first day of February, one month ahead of the traditional announcement on the last day of February. This new date was inspired by the government's wish to solidify the budget ahead of the new financial year, a grace period that many businesspeople will appreciate after the shock and awe of November 2016's demonetization. |
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Making Payments Digitally
Sarita Brara | 24 Jan, 2017 |
| Promoting digital payment options, is an integral part of Govt's overall strategy to weed out black money and corruption from public life. Under the two incentive schemes all transactions by consumers and merchants starting from the 9th of November last year till April 14, this year are eligible for the cash rewards in the lucky draw. |
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#Notebandi frontlines: Small stores struggle to survive
Alison Saldanha | 16 Jan, 2017 |
| There are about 12 million to 14 million kirana shops -- family-run corner-shops/mom-and-pop or convenience stores selling groceries and other products -- across India, and they are vulnerable to losses from 'notebandi -- as demonetisation is called colloquially. A population, roughly speaking, equivalent to that of France or Thailand, depends on these stores for a living. |
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Demonetisation fallout: ATM makers get a big boost in new orders
Meghna Mittal | 16 Jan, 2017 |
| The government's November 8 move last year to demonetise higher-denomination currencies was said to be aimed at tackling the issues of black money and counterfeit notes. But it has also uncovered the skewed ratio of ATM machines, as compared to the population, providing a boost to the makers of such machines. |
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Demonetisation: Govt propelling a wishful narrative
Rakshita Swamy | 09 Jan, 2017 |
| One would assume that an economic decision as important as demonetisation was based on, and driven by, evidence and strong data. It is, however, clear by now that this decision has been taken without any robust assessment of the proportion of black money held in cash, the quantum of notes with the public, and the number of notes actually in circulation. |
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2017: 4 things India can look forward to
SME Times News Bureau | 02 Jan, 2017 |
| An increased focus on renewable energy, more reliable power supply to villages, growing spread of Aadhaar -- the national identification system -- and greater use and spread of the Internet. Those, according to IndiaSpend, are the four things India can look forward to in 2017. |
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Index
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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84.35
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82.60 |
UK Pound
|
106.35
|
102.90 |
Euro
|
92.50
|
89.35 |
| Japanese
Yen |
55.05 |
53.40 |
| As on 12 Oct, 2024 |
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| Daily Poll |
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| Will the new MSME credit assessment model simplify financing? |
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