DGFT assures transparency, good governance to lift exports
The Dollar Business Bureau Reassuring the micro small and medium enterprises (MSME) sector, Additional DGFT said on Monday that it is working to enhance the governance and transparency of services in a time-bound manner to boost exports. “DGFT team is working for improving the governance as well as transparency of services in a time-bound period to make certain that the exports will grow in the coming months,” said Sonia Sethi, Additional Director General of Foreign Trade, while speaking at an open house meeting, organised by the All India Association of Industries and World Trade Centre Mumbai. She said, “My team is pulling up its socks on all issues faced by industry and the potential entrants in the MSME segment. The MSME clusters are our priority in export promotion.”According ...
IIFT sets up incubation cell for start-ups
The Dollar Business Bureau The government has set up an incubation cell at the prestigious Indian Institute of Foreign Trade (IIFT) to extend support to export-oriented start-ups. MSME Minister Kalraj Mishra said during the inauguration, that the incubation cell would provide all the technical guidance and expert advice at one point to young entrepreneurs."The cell has been designed to provide export start-ups with necessary hand holding support towards expanding their existing domestic business to foreign markets," Mishra said. The initiative, KITTES (Knowledge for Innovation in Trade and Technology for Entrepreneurial Start-ups), has been aimed towards startups in the international business domain. The incubation cell will be run by the Centre of MSME Studies at IIFT (Delhi). KITTES is envisaged to ...
CBEC, FTAPCCI clears industry concerns on GST Law
The Dollar Business Bureau Central Board of Excise and Customs (CBEC) in association with Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) organised an awareness programme on proposed Goods and Services Tax (GST) Law in Hyderabad on Monday. CBEC Special Secretary and Member Ram Tirath, senior officers of CBEC, Commercial Tax Department, and FTAPCCI members have shared their knowledge and clarified certain apprehensions of the trade and industry stake holders about the upcoming GST Law through this programme. Trading community in agri crops and commodities in Telangana and Andhra Pradesh operate through the system of commission agency. The agri commodities are currently taxed under the VAT law only upon sale. But, under Sec 3(2A) of the Model GST Law the transaction ...
J&K to get exclusive Women Business Centre
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, ...
Exporters body demands clear cut policy for MSME sector, promote exports
Himanshu Vatsa | The Dollar Business The government should come up with a “clear cut” policy for the micro, small and medium enterprises (MSME) sector, to encourage small-scale industries to boost exports, the Delhi Exporters Association said. The exporters’ body has already submitted its demand to the government in this regards. "The government should come out with a clear cut policy to encourage exports from India, including exports on manufacturing basis, especially for MSME products and those from tiny/cottage industry sector," the association said in a press statement. “Actually, the government is too slow when it comes to action and implementation. In 2002, we were promised a separate export corridor by the previous UPA government. But nothing has been ...
Marginal drop in estimates of MSME contribution to Indias exports in FY2013-14
The Dollar Business Bureau The estimated share of MSME (Micro, Small and Medium Enterprises) sector’s contribution in India’s total export for the year 2013-2014 dipped marginally to 42.40% from 43% both for the financial years 2011-12 and 2012-2013. “The estimates were arrived based on the export data maintained by Director General of Commercial Intelligence & Statistics, Ministry of Commerce,” said Giriraj Singh, Minister of State, Micro, Small and Medium Enterprises. The estimated contribution of MSME sector (including service segment) to GDP during 2010-11, 2011-12 & 2012-13 are 36.69%, 37.97% & 37.54% respectively. The estimated contribution of manufacturing MSME output in manufacturing output of the country during 2010-11, 2011-12 & 2012-13 are 38.50%, 37.47 & 37.33% respectively. The total employment in ...
