Stay Connected. Stay Informed.
Representative image | Photo Credit: Reuters The GST rate for labour charges (job work) has been increased from 12% to 18% and it is expected to hit hard the Micro, Small, and Medium-scale Enterprises (MSMEs). C. Sivakumar, president of the Coimbatore Tiruppur district Micro and Cottage Entrepreneurs Association, said one of the long-pending demands of…
The strong focus on MSMEs, including provisions for micro-credit cards and increased refinancing limits, will promote growth. | Photo Credit: File Photo The industry bodies in Karnataka have welcomed the Union Budget presented on Saturday and particularly lauded its focus on small industries. The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) commended the…
Read More “Industry bodies in Karnataka welcome budget provisions” »
The exhibition is being organised in partnership with the Society of Indian Defence Manufacturers. Kolkata: Lieutenant General Ram Chander Tiwari, General Officer Commanding-in-Chief (GOC-in-C) of the Eastern Command of the Army, urged more participation from local Microm Small and Medium Enterprises (MSMEs) from West Bengal in indigenous defence production. Lt Gen Tiwari was speaking at…
Jairam Varadaraj | Photo Credit: The Hindu The world is witnessing unprecedented disruptions and uncertainty. India, however, presents the promise of growth, stability, and opportunities for investment. To avail of these opportunities, multiple steps were necessary: strong capital expenditure and infrastructure push by the Indian government; significant support to small and medium enterprises; job creation…
Read More “Budget 2024 | Government keeps focus on critical areas” »
Presenting her seventh Union Budget and the first after this year’s Lok Sabha election, Finance Minister Nirmala Sitharaman on July 23 unveiled a flurry of measures aimed at fixing the woes of unemployed youth, small businesses, and the middle class, and sought to strengthen the ruling NDA coalition’s bonds with support for multiple investment projects…
Watch: Union Budget gives a leg-up to MSMEs, manufacturing sector The Union Budget for 2024-2025 has a package of support measures for the Micro, Small and Medium-scale Enterprises (MSMEs) and the labour-intensive manufacturing sector. According to the Economic Survey tabled on Monday, the contribution of MSMEs to all-India manufacturing output in FY 22 was 35.4%…
Read More “Union Budget gives a leg-up to MSMEs, manufacturing sector” »
Wet grinder manufacturing at a unit in Coimbatore. File | Photo Credit: M. Periasamy Festival season, when sale of kitchen equipment peak, does not offer hope for wet grinder manufacturers in Coimbatore. Manufacturers of the grinders, a product that has Geographical Indication tag, are moving to other businesses as demand has slumped. R. Soundarakumar, president…
Read More “Wet grinder manufacturers in Coimbatore move to other businesses” »
The revamped credit guarantee scheme for Micro, Small and Medium Enterprises (MSMEs) will take effect from April 1, through infusion of ₹9,000 crore in the corpus, said Union Finance Minister Nirmala Sitharaman while presenting the Union Budget 2023. “This will enable additional collateral-free guaranteed credit of ₹2 lakh crore. Further, the cost of the credit…