TReDS bill financing crosses Rs 2-lakh crore mark
TReDS is an initiative introduced by the RBI and backed by the MSME Ministry. It serves as an electronic platform facilitating the financing and discounting of trade receivables of MSMEs through multiple financiers in order to solve their working capital-related challenges. Focus on trade infra, MSMEs competitiveness to help India double share in global trade: CII
The Confederation of Indian Industry (CII) suggests that by strengthening MSMEs, enhancing digital trade, and integrating deeply into global value chains, India could more than double its 2% share in global trade. High interest rates big deterrent for MSME exporte?rs; working with finmin on this: DGFT
Director General of Foreign Trade Santosh Kumar Sarangi said that the department of commerce has been "struggling" to convince the finance ministry regarding the relevance of the Interest Equalisation Scheme (IES) and the extent to which it is maintaining manufacturing competitiveness. Cross-border payment innovations key to India’s $2 trillion export potential: Shiprocket’s Akshay Ghulati
Akshay Ghulati, CEO - International Shipping, Shiprocket highlighted why efficient cross-border payments for MSMEs are the need of the hour if India’s ambitious targets in exports are to be realised. How AI is empowering small businesses to achieve big exits in M&A
Ben Zogby, a Boston entrepreneur, sold his online trading platform, Highstrike, for $1.8 million on Flippa. Flippa's AI-powered platform connected Ben with buyers, provided a valuation tool, and facilitated a bidding war, maximizing his exit. Flippa's innovative tools and resources empower online business owners to achieve successful exits. Industry body highlights need to cover MSME units under UNNATI 2024
The Federation of Industry and Commerce of Northeast Region (FINER) advocated for retrospective inclusion of MSMEs under the UNNATI 2024 scheme during the NER Dialogue in New Delhi. They highlighted the plight of units affected by the policy gap between NEIDS 2017 and UNNATI 2024, urging an extension of the registration window. Imposition of additional duty on steel imports to hit exports by MSMEs: Exporters
The Federation of Indian Export Organisations emphasizes the risk to value-added steel product exports. Delays in customs clearance are also disrupting production and harming India's global reputation. Digital Footprint to help MSME get up to Rs 5 L loans from Muthoot FinCorp ONE
Muthoot FinCorp ONE will offer loans with daily repayment options to Micro, Small and Medium Enterprises (MSME) that use QR-code based apps for daily collections, the NBFC said in a statement. redBus launches Primo for small and medium bus transport businesses to increase revenue
The Primo initiative introduces consumer loyalty programme and operator-centric digital marketing features to make it a seamless journey for small and medium enterprises. Business mentorship and financial inclusion ideas resonate at Jaipur edition of ET Make in India SME Regional Summit
These summits aim to unravel opportunities, tackle challenges and foster knowledge-sharing and networking to propel the next phase of growth for Indian MSMEs. Karnataka-DRDO ink pact to support defence startups
According to the agreement with the government of Karnataka, startups, MSMEs and industries will be given access to DRDO’s testing facilities. This memorandum is signed in the hopes of catering to the future of defence technologies. Why MSMEs should prioritise cybersecurity, financial stability, employee management
There is an urgent need for the MSMEs to invest and train their employees in these areas to survive a major disruption. M1xchange’s record business growth shows MSMEs’ credit gap is narrowing, says director of invoice discounting platform
More small businesses are becoming aware of TReDS and its benefits and this is bringing down the cost of doing business, says Sundeep Mohindru. Joining RCEP to hit India as investment destination, overwhelm MSMEs, capital flight: GTRI
Joining RCEP could hinder India's goal of becoming a top investment destination. Experts warn that it could lead to domestic capital flight and harm small businesses. India already has trade agreements with most RCEP members. The World Bank suggests focusing on internal reforms instead. India's exports to China have not grown significantly despite existing agreements. How TReDS is revolutionising payments for MSMEs in India
The TReDS platform has significantly helped Indian MSMEs receive faster payments. It allows them to sell unpaid invoices to financiers at a discounted rate, providing quick access to working capital. This has been crucial for their growth, addressing the challenge of delayed payments from larger buyers. Higher interest rates won’t slow MSME lending: Rajesh Sharma, Capri Global Capital
??If we talk about our company, while we got the robust credit line about 5,000 crore in the first half, so we see adequately we should be able to meet our target. How Bizongo is building a ‘golden triangle’ approach in B2B ecosystem
The Mumbai-based vendor digitalisation platform has recently expanded into three verticals to cater to the evolving needs of the SME B2B market. SMEs save an average of 10-12 hours a month with Tide’s invoicing feature
The solution targets GST-compliant invoicing and unpaid invoice automation. Over 400,000 SMEs have joined Tide, addressing key challenges in bookkeeping and invoicing for small businesses to promote efficient financial operations. AI opens up a world of possibilities for SMEs: GoDaddy
GoDaddy says it offers AI-powered tools in a variety of its products to small businesses who can benefit from the use of such advanced technologies. Temasek-owned Fullerton to take majority control in cash-strapped Lendingkart for Rs 252 crore
This comes after RBI’s action against NBFC and microfinance firms like Navi and DMI Finance being banned from sanctioning loans. The funding round will see Lendingkart's valuation get slashed to around $100 million from $350 million in 2020, as reported first by ET on October 17. Sundaram Alternates launches Performing Credit Opportunities Fund (PCOF) - Series I
Sundaram Alternates launched PCOF-I, a close ended Category II AIF, targeting high-yielding debentures and mezzanine securities. The fund focuses on mid-market companies, with investments supported by strong security structures. The fund aims to generate attractive risk-adjusted returns and distribute quarterly income to investors. The targeted IRRs at portfolio level is around 13-16% and investor net returns around 12-13%. The tenor is five years (extendable by two years). Retail credit boom creating balance sheet risks: Shweta Daptardar
?There will be recalibration even on the risk pricing rates front as well. Perhaps we might see some review in guidelines coming from RBI in near future, say in terms of how the risk pricing, credit risk management should happen. India’s semiconductor future: Choosing the right development model for the industry is essential
The semiconductor ecosystem is built on a vertically integrated foundation laid 60 years ago. It is now evolving into hundreds of autonomous companies that collectively contribute to the production of a single chip. However, this has led to a ‘too big to fail’ syndrome, where a few dominant players control each segment of the industry. From organic farms to café tables: The inspiring journey of two small business innovators redefining how India drinks its coffee
India's MSMEs are leveraging innovation and local resources to drive sustainability and market transformation. Highlighting the stories of Waystores and Drinkcity Beverages and their growth via the Walmart Vriddhi program, the article showcases how entrepreneurs overcome challenges and achieve remarkable growth in the coffee sector. Interest equalisation scheme for exporters extended for another 3 months; capped at Rs 50 lakh
The government has extended the interest equalisation scheme for pre- and post-shipment rupee export credit till December 31, 2024. This move aims to support exports and MSMEs amid global economic challenges. The scheme, which ended on September 30, provides exporters with competitive rupee export credit rates. A cap of Rs 50 lakh has been set for MSMEs. Tamilnad Mercantile Bank to open 40 new branches, hire global consultant for MSMEs
During the AGM, the bank highlighted its continued focus on growth and transformation, laying out a comprehensive plan for expansion and digitalisation to drive future growth. Why a tailored insurance strategy is important for MSME to tackle risks and grow
Small businesses face a host of challenges such as supply chain disruptions and cyber security risks. This makes it necessary for them to have tailored insurance solutions to safeguard themselves. How GST 2.0 can transform the MSME sector
While the Government has shown willingness to address the sector concerns, MSMEs are looking forward for additional focus on introducing transformative and progressive reforms for its growth and the economy at large. PM Modi's monopoly model has taken away jobs, devastated MSMEs: Rahul Gandhi
Rahul Gandhi has criticized Prime Minister Narendra Modi's economic policies, alleging that they have led to job losses and harmed small businesses. He emphasised the need to simplify GST and provide better banking support to small enterprises to foster job creation. Gandhi shared these views during an event in Jammu, highlighting the struggles faced by entrepreneurs and proposing policy changes to boost the local economy. Yamuna authority launches housing scheme near the upcoming airport
The Yamuna Expressway Industrial Development Authority has launched a new housing scheme in Sector 22D, offering 1 BHK and 2 BHK flats priced between Rs 21 lakh and Rs 45 lakh. The scheme is open for booking from September 19 until March 31, 2025, on a first-come, first-served basis. Women empowerment, technology, employment focus areas of MSME ministry
The MSME ministry, under Jitan Ram Manjhi, has focused on women empowerment, technology, employment, and regional development in the first 100 days of Modi 3.0. Key initiatives include increased credit guarantee for women entrepreneurs, the Yashasvini campaign, PMEGP support for new enterprises, and new technology centers in Bokaro and Leh. Why Europe’s upcoming deforestation law will hack India’s agri exporters
Farmers and exporters would find it near-impossible to comply with the EUDR norms — and not just because the rules necessitate major changes in supply chains and the use of technology. M1xchange and Bharat BillPay partner to accelerate MSME growth with integrated financing
M1xchange has partnered with NPCI Bharat BillPay Ltd. to offer low-cost invoice financing directly from accounting software. This collaboration aims to enhance payment efficiency for TReDS-registered companies in India, particularly benefiting MSMEs by improving liquidity and reducing payment cycles. E-commerce platforms fuel state's packaging, export capabilities: Yogi Adityanath
Chief Minister Yogi Adityanath noted the key role e-commerce platforms play in boosting Uttar Pradesh's packaging and export capabilities, aligning with the Centre's One District One Product (ODOP) scheme. Speaking at the inauguration of Flipkart's new warehouses in Unnao and Varanasi, he emphasized job creation, technological advancements, and enhanced market access. The initiative is set to generate significant employment and foster local MSMEs. How MSMEs can benefit from this solution for identity verification and fraud prevention
Cashfree Payments’ Secure ID is also tailored for startups and MSMEs, helping them manage their verification processes and mitigate fraud without the need for extensive infrastructure or high operational costs. MSME important in realising vision of 2047: Finance Minister Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman emphasized the crucial role of MSMEs in achieving India's vision of becoming a developed nation by 2047. Highlighting their priority in the Union Budget, she discussed lending initiatives with MSME clusters in Udaipur. An MoU was signed to support the marble industry, reinforcing the sector's importance in job creation and economic growth. MUFG doubles down on DMI Finance investment with $334 million bet
The investment was made through its consolidated subsidiary MUFG Bank and brings the total investment by MUFG in DMI Finance to Rs 4712 crores (approximately $565 million) adding to the $400 millon that MUFG invested in the company last April. Offering healthcare benefits can help MSMEs attract and retain best talent
Small businesses must focus on offering the right healthcare benefits to their employees to ensure they are healthy and motivated, says insurance industry stakeholders. NBFCs beat high cost of funds by increasing rates and reducing dependence on bank loans
For the June 2024 quarter margins for most non-bank lenders remained under pressure due to increased borrowings and lower fee income. NBFCs saw a mixed June quarter with some moderation in AUM growth led by weak disbursements and some marginal weakness in asset quality and credit costs due to seasonality, elections, and heatwave in northern states. Small ticket business loans driving Shriram Finance's MSME growth
Shriram Finance Ltd anticipated sustained growth in its micro and small enterprises sector, driven by demand for small loans. The company expected a yearly 25% growth in the MSME portfolio. In contrast, the commercial vehicle business saw slower growth. Shriram has diversified its operations and projects a notable rise in MSME loans soon. How the Sumpoorn index is helping banks & policymakers understand MSMEs better
Making use of GST data, a Hyderabad-based financial technology firm claims it can show how small businesses are doing and will do at a granular level. EEPC, ISSDA join hands to boost MSME exports
The agreement also aims to facilitate the exchange of trade information and encourage international investment through joint ventures and technical collaborations. Transforming ecommerce: Shiprocket partners with Snowflake to give MSME sellers faster real-time insights
Shiprocket’s 1.5 lakh merchants will be able to make better decisions by using data-driven models. Lending to SMEs and mid-corporates a ‘strategic priority’ for us: Rajan Pental, Executive Director, YES BANK
The Mumbai-based lender is providing MSMEs financial support to run their businesses and also improve their energy efficiency. Why India’s nano enterprises need formal recognition within the MSME ecosystem
Addressing the challenges of nano entrepreneurs through tailored initiatives aimed at formalisation of the sector and improving resource accessibility are crucial for their upliftment. Clix Capital secures Rs 220 crore in funding from existing investors
Clix Capital, a finance company, secured Rs 220 crore in equity funding from existing investors, including Apollo Global Management. The funds aim to boost lending in MSME, education, and healthcare equipment sectors. The company's assets under management reached Rs 4,484 crore in March 2023, with operations expanding to over 2,100 pin codes across India. Clix Capital raises Rs 220 crore equity from existing investors including Apollo Global
The company plans to utilise these funds to strengthen its lending capabilities across the MSME, Education, and Healthcare Equipment sectors, enhance its credit profile & significantly invest in new-age AI & ML technologies. “Our investment in Clix Capital has seen significant value creation and we are delighted to have participated in this equity round. We see ample headroom for growth in Clix Capital’s journey as it expands its footprint in India’s growing MSME sector,” said Utsav Baijal, Partner and Head of India Private Equity, Apollo Global Management. ETMarkets Smart Talk | Rise in taxes is to avoid formation of a ‘bubble’ in markets: Amisha Vora
Above all, if you see the number of direct participants in markets is also increasing. So, somewhere these three steps which are taken, one is transaction tax, if you see its financial impact from the budget perspective or deficit perspective is very limited. Budget 2024 aims to foster economic stability and growth: Neelkanth Mishra
?The second big message through the budget speech because as the first speech it gives a signal on what the government's priorities will be over the next five years and those again lay the roadmap for simpler taxes, simpler duties, focus on urbanisation, focus on infrastructure development, energy security. Budget 2024: Which MSME schemes got more money and which ones have lost out
Budget 2024: Focus on small businesses, a mixed bag for many
Budget well-balanced; to focus on inclusive growth in economy: Dinesh Kumar Khara
Budget well-balanced; to focus on inclusive growth in economy: Dinesh Kumar KharaDinesh Kumar Khara emphasized the Budget's focus on employment, skilling, MSMEs, and youth, essential for inclusive growth. Initiatives include agriculture productivity, PMAY in urban development, nuclear plants for green energy, KCCs for rural credit, improved road infrastructure, and lower fiscal deficit. Private sector capex, green energy, and tax tweaks on market instruments are also highlighted. Job and consumption prospects in union budget enthuses Gulf NRIs
Job and consumption prospects in union budget enthuses Gulf NRIsModi 3.0's budget provisions Rs 2 lakh crore for job and skill programs, rural development including natural farming, MSME support, and gold duty reduction. Kamal Vachani appreciates Mudra loan increase and customs duties reduction. Gaurav Malhotra, Hansgrohe India, commends fiscal discipline and technological support, gaining praise from NRI businessmen in the Gulf. Focus to improve agriculture productivity will play into rural consumption story: R Mukundan, Tata Chemicals
Focus to improve agriculture productivity will play into rural consumption story: R Mukundan, Tata Chemicals?India can be the food basket for the world and I think that focus to improve agriculture productivity will play into rural consumption story which has been a bit of a worry for many companies and this effort by government to focus on agriculture and the eastern part of India especially in many ways, I think the agriculture productivity can be pushed up even more and the focus on east also from that perspective is extremely positive. Budget 2024: Experts say new MSME credit assessment model, NPA shield strengthen small businesses
India Budget 2024: Finance Minister Sitharaman extends a helping hand to MSMEs
India Budget 2024: Finance Minister Sitharaman extends a helping hand to MSMEsBudget 2024: Finance Minister Nirmala Sitharaman announced a new credit guarantee scheme aimed at facilitating term loans for Micro, Small, and Medium Enterprises (MSMEs) on Tuesday, while presenting the full budget for 2024-25. The scheme will help manage credit risks for these enterprises through a self-financing guarantee fund providing coverage of up to Rs 100 crore per applicant. Economic Survey 2024: Jobs key to unlocking demographic dividend
Industrial building regulations restrict manufacturing capacity: Economic Survey
We will continue to focus on retail growth, deposits and CASA: Shri Ramasubramanian S, Union Bank of India
Deregulation is vital for growth of MSMEs: Economic Survey 2024
ET Budget Survey: 50% say unemployment is top challenge for India
ET Budget Survey: 50% say unemployment is top challenge for IndiaBudget 2024: India aims to become the third-largest economy by 2030 and a developed nation by 2047 under its Viksit Bharat vision. However, unemployment remains a significant issue despite an 8.2% growth in FY24 and an average growth of 8% over the past three years. An ET Online survey of nearly 9,500 Economic Times readers revealed that over 50% see unemployment as the top challenge for the Indian economy. Union Budget: MSME sector for doubling loan limit under MUDRA to Rs 20 lakh
Union Budget: MSME sector for doubling loan limit under MUDRA to Rs 20 lakhThe Union Budget may double MUDRA Yojana limits, expand MSME credit guarantees, global sales support, and home loan tax exemptions. Ayushman Bharat expansion, ESOP relief, pharma R&D, IPR funding, and lower import duties for durables expected. InsurTech tax reforms, public healthcare, GST structure for food manufacturing, and road safety boosts are anticipated. NBFC Seeds Fincap raises over $8.5 million funding from Lok Capital, Z47
A $540 billion credit hole: Why small businesses in India urgently need a special MSME bank
Budget 2024: More focus on schemes such as RAMP, TUF can boost MSMEs
SMEs may get to turn the page in book of accounts; new norms likely to ease compliance burden
Budget 2024: Govt may relax 45-day payment rule for MSMEs
Budget 2024: Govt may relax 45-day payment rule for MSMEsThe government is considering relaxing the 45-day payment requirement to MSMEs to prevent large corporations from seeking other sourcing options. This potential change to Section 43B(h) of the Income Tax Act might be announced in the upcoming Budget on July 23. Last year's Budget introduced this clause to ensure timely payments to MSMEs, penalizing larger companies for delays by disallowing tax deductions on unpaid expenses. MSMEs have growth opportunities, the challenge is in easing their access to credit: Manish Kothari, Kotak Mahindra Bank
MSMEs are on sustainability path but profitability focus can make the move faster
UP cabinet passes draft of UP NIRMAN Bill-2024 to attract investors
UP cabinet passes draft of UP NIRMAN Bill-2024 to attract investorsThe Uttar Pradesh government passed the draft of the Uttar Pradesh Nodal Investment Region for Manufacturing (Construction) Area Bill (NIRMAN)-2024 in a bid to boost the state's economy to one trillion dollars. The bill aims to create Special Investment Regions (SIRs) to attract big investors. The decision will promote economic development, ease of doing business, and create new job opportunities. Additionally, the cabinet approved a proposal for a Memorandum of Understanding between ITPO and MSME to encourage industrial investment. Equalisation of interest for MSMEs extended till August 31
Interest equalisation scheme for exporters extended for 2 months; FIEO disappointed
Scheme unveiled to help 500k MSMEs join ONDC
Scheme unveiled to help 500k MSMEs join ONDCMinistry's initiatives focus on empowering MSMEs, especially micro-enterprises, through various schemes, including Khadi brand rejuvenation and interest subventions. Rajneesh, the development commissioner, highlights the importance of these initiatives for the growth and development of small businesses. MSME Day 2024: Nasscom Foundation and SME Council launch upskilling initiative for marginalized youth
MSME Day 2024: Participation of women in MSMEs increases but challenges remain
Five-yr extension expected for export credit scheme
Five-yr extension expected for export credit schemeIndia is expected to extend a key support scheme for export credit to boost its export sector, which has been hit hard by a slowdown in developed countries. The commerce and industry ministry has proposed an extension of the interest equalisation scheme beyond June 30, providing a 3% benefit for manufacturer micro, small and medium enterprises (MSME) and a 2% incentive for exporters of 410 identified tariff lines. Confident of achieving growth of more than 15%: Umesh Revankar, Shriram Finance
How MSMEs can boost India's real estate market
India’s SME IPOs: From a quiet start to bull run
MSMEs & green finance: How fintechs can help small businesses adopt sustainability
Budget must focus on employment generation, boost to manufacturing sector: Economists
Budget must focus on employment generation, boost to manufacturing sector: EconomistsEconomists attending the pre-Budget consultation with Finance Minister Nirmala Sitharaman emphasized the need for the upcoming Budget to prioritize employment generation and bolster the manufacturing sector. They highlighted concerns over unemployment and urged the government to focus on job creation. There was consensus that with the economy showing resilience, stimulating consumption demand would not be a major challenge. FISME urges govt to review policies to help faltering MSMEs
ET Make in India SME Regional Summit in Kolkata to look at Bengal’s potential and opportunities to uplift MSMEs
For its third session, ET Make in India SME Regional Summit heads to Kolkata
Driving logistics forward: How Gurugram-based Varuna Group is maintaining a balance between innovation and sustainability
Creating an Export Development Fund is crucial for the MSME ecosystem: FIEO’s Ashwani Kumar
Bank credit growth rate expected to moderate: Crisil
Bank credit growth rate expected to moderate: CrisilThe central bank increased the risk capital requirements for unsecured loans to NBFCs to 125% in November last year from 100% prompting banks to realign their strategies and strengthen their underwriting process. Banks' credit growth in FY25 to slow down to 14% on lower GDP uptick, RBI measures: Crisil
Banks' credit growth in FY25 to slow down to 14% on lower GDP uptick, RBI measures: CrisilCrisil forecasts a 2 percentage point drop in the banking system's credit growth to 14% for the fiscal year 2024-25, citing factors such as lower GDP growth, RBI measures like higher risk weights on unsecured loans, and a high base effect. Slower deposit growth is expected to temper credit expansion, though the fundamental drivers of credit demand remain intact. While corporate segment growth is projected to maintain at 13%, retail growth will slow to 16%. MSMEs should build support fund for women to encourage their participation: Lohit Bhatia, Indian Staffing Federation
Vivek Bindra announces program for 100 selected startups to help them become IPO-ready
ET Make in India SME Summit in Hyderabad: Small businesses should adopt modern technology as soon as possible
Growth to come from MSME, affordable housing: Rajesh Sharma, Capri Global
How Jaipur-based AU Small Finance Bank plans to plug a $400 billion credit gap
ET Make in India SME Regional Summit’s second session to be held in Lucknow
Compliance plays a big part in helping Indian MSMEs grow exports
Narendra Modi govt 'anti-MSME', thousands of small business shut down in 10 years: Congress
Facing delays, exporters seek priority shipment for MSMEs
How lenders manage risk in MSME lending when credit history is not available
