Search Result for : Ministry Of Msme

Aamir H Kaki  There is a need to give ‘added incentives’ in order to promote the environment of startups and entrepreneurship in the country, Jitendra Singh, Minister of State for the Ministry of Development of North Eastern Region (DONER) said on Thursday.  “The youth will be given incentives if they are starting an indigenous venture such as a startup in the field of traditional art forms,” he said after inaugurating the 4th India International MSME & Startup Expo in New Delhi.  “Our ministry has set up a venture fund for the northeast region, where if a person wants to start a business, the Ministry of DONER funds that initiative,” he said.  He suggested that similarly if a person from a State wants to start ...

The Dollar Business Bureau  Ministry of Micro, Small & Medium Enterprises (MSME) has asked the Finance Ministry for considering to exempt Khadi sector from Goods and Services Tax (GST) or ensure a smooth flow of claiming input tax credit for the Khadi Institutions.  Currently, Khadi yarn is exempted, whereas other Khadi products produced in the sector attract a GST of 5%.  “Ministry of MSME has approached Ministry of Finance to consider the sector for exemption from GST or to ensure a seamless flow of input tax credit in order for Khadi Institutions to claim input tax credit,” Minister of State for MSME Giriraj Singh said in a written response in Rajya Sabha.  The entire sector of Khadi and Village Industries has enjoyed the tax exemption ...

Manishika Miglani “India is a market that needs to reposition itself in the backdrop of challenges faced by the MSME sector due to globalisation 2.0,” said Surendra Nath Tripathi, Additional Secretary & Development Commissioner, Government of India while addressing the 13th Global SME Summit 2016 organised by Confederation of Indian Industry (CII) in New Delhi. According to Tripathi, the ministry is looking at making MSMEs globally competitive with the ongoing steps that the Govt is taking in ease of doing business and also with the implementation of the Goods and Services Tax (GST). The latter will specifically be a key enabler for smaller enterprises which need to enhance their business competitiveness by a simplified taxation system. The conference was also addressed by Giriraj Singh, ...

Sourced from Press Information Bureau  Indian Micro, Small and Medium Enterprises (MSMEs) are facing tough competition from cheap Chinese products and it is evident from the high growth of India’s imports from China. As per information compiled from the data provided by Director General of Commercial Intelligence & Statistics, imports in respect of 11 major product groups, largely manufactured by MSMEs in India, have grown from China at a higher rate than their respective imports from all countries combined during 2012-13 to 2015-16. As these 11 product groups accounted for 74% of India’s total imports from China in 2015-16, a significant proportion of Indian MSMEs seem to be adversely affected from Chinese imports as compared to the rest of the World. These ...

Source: PTI   Jammu and Kashmir will soon have an exclusive "Women Business Centre" which would help boost women entrepreneurship in the state. In a significant step to boost women entrepreneurship in the state, Chief Minister Mehbooba Mufti has ordered the conversion of Jammu Haat into an exclusive Women Business Centre. For this, she directed Industries and Commerce Department to prepare a Business Plan within the next two months so that brass tacks are done to establish the Centre, which she said is ideally located in the heart of the winter capital. She said this while taking a detailed briefing of the Industries and Commerce Department, in the Civil Secretariat, here today. Assuring all help to MSME (Micro, Small and Medium Enterprises) sector in the state, ...

The Dollar Business Bureau The National Small Industries Corporation (NSIC) on March 30, 2015, signed a Memorandum of Cooperation (MoC) with the Ministry of Micro, Small and Medium Enterprises (MSMEs), for the year 2015-16. Under this MoC, the NSIC aims to provide enhanced services like Financial, Marketing, Technology Services and other support services schemes for MSMEs in the country. The Corporation further projects to achieve a growth rate of 15%-20% under it’s the operational performance during the year 2015-16. The key elements under the MoC include distribution of raw material to the SMEs, preparing the SMEs to avail enhanced benefits, development of clusters, among others. According to the MoC, the Corporation is aiming at distributing the raw material to the ...

Description of products is often a problem that MSME exporters face during Customs clearances Neha Dewan | The Dollar Business MSMEs in India are expected to play a key role in the success of the Make in India campaign and improving exports   A one day comprehensive workshop on export packaging, bar-coding, trade logistics, and challenges and issues faced by MSME (Micro, Small and Medium Enterprises) exporters was organised by the Federation of Indian Export Organisations (FIEO) in association with the Ministry of MSME in New Delhi today. The workshop saw active participation of several industry professionals and experts. The primary objective of the workshop was to offer to the MSMEs elaborate insights on various issues integral to their business. The session on export packaging, ...