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Indian MSME sector to generate over 200,000 jobs by 2025, report says

Indian MSME sector to generate 2 lakh jobs by 2025

June 28, 2024, 01:50 AM - 2 mins read

The Indian MSME sector, which currently employs around 1.2 crore people, is expected to generate over two lakh new jobs by 2025 across various sectors such as e-commerce, logistics, and supply-chain management, according to a report released on Thursday.

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India-US CEO Forum Launches Knowledge-Sharing Platform. Image X.

CEO forum enhances India-US business collaboration

May 27, 2024, 10:40 AM - 3 mins read

The India-US CEO Forum's Working Group 7 (WG7) on Entrepreneurship, Inclusive Growth, and Promoting Small Businesses, along with the United Services Institute (USI) and CyberPeace Foundation, has launched a bilateral knowledge-sharing platform between India and the US.

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The country's merchandise exports are expected to reach USD 450 billion by the end of this fiscal despite geo-political challenges like the Red Sea crisis, newly elected president of apex exporters body FIEO Ashwani Kumar said on Tuesday.

India's exports may reach USD 450 billion this fiscal, says FIEO president Ashwani Kumar

March 19, 2024, 12:46 AM - 2 mins read

The exporting sector, particularly, MSMEs, needs easy and low-cost credit, and marketing support to further boost the country's exports, Kumar said, adding early conclusion of free trade agreements such as with the UK and Oman will also help push the outbound shipments.

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The Indian government is contemplating amendments to the Micro, Small, and Medium Enterprises (MSME) Development Act, 2006, aimed at ensuring prompt payment to small businesses.

Centre mulls amendments to MSME development act for timely payments

March 12, 2024, 02:49 AM - 2 mins read

As per current regulations, if a payment is delayed by more than 45 days after the receipt of goods or services from an MSME supplier, the buyer is liable to pay compound interest with monthly rests to the supplier. Despite these provisions, the resolution of disputes and payment recovery procedures have been protracted, with cases sometimes extending over several years.

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INC President Mallikarjun Kharge and Congress Leader Rahul Gandhi. Image X.

MSMEs in peril: Kharge tries to expose Modi Govt's economic failures!

March 10, 2024, 04:34 AM - 3 mins read

In a scathing attack on the Union Government, Congress President Mallikarjun Kharge raised concerns about the fate of Micro, Small, and Medium Enterprises (MSMEs) under the Modi regime.

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The Finance Ministry is currently deliberating on potential revisions to Section 43B(h) of the Income Tax Act, which was introduced under the Finance Act of 2023.

Finance Ministry contemplates revision of new rule for payment to MSMEs within 45 days

February 29, 2024, 03:22 AM - 3 mins read

According to Rajiv Chawla, Founder and Chairman of SME network IamSMEofIndia, invoices issued before April 1, 2023, and outstanding dues as of March 31, 2023, remain unaffected by the amendment. However, he clarified that payments made by March 31, 2024, would render expenses permissible, mitigating the impact of payment delays during the year or previous dues.

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Prime Minister Narendra Modi and his UAE counterpart Sheikh Mohamed bin Rashid Al Maktoum on Wednesday virtually laid the foundation stone of Bharat Mart.

PM Modi inaugurates Bharat Mart in UAE

February 14, 2024, 07:23 AM - 2 mins read

Modi asserted, that “Bharat Mart has the potential to play an important role in promoting exports of the micro, small, and medium (MSME) sectors of India by providing them an effective platform to reach out to international buyers in the Gulf, West Asia, Africa, and Eurasia"

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Government champions India's MSME, set the stage for global recognition

December 29, 2023, 12:58 AM - 3 mins read

"Govt. is promoting India as a global MICE destination to showcase India's MSME sector, traditional handicrafts, artisanal offerings, weavers and manufacturing prowess", said Union Commerce and Industry minister Piyush Goyal

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