Recent News

'MSMEs need Rs 5.15 lakh cr to overcome the financial crunch'

NEW DELHI: Highlighting the financial crunch faced by MSMEs, a report has pegged the total credit demand for the sector at Rs 45 lakh crore over the medium term while Rs 5.15 lakh crore needs to be mobilised for the near term. “Crisil estimates show Rs 11.37 lakh crore is …

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Government notifies new rules for MSMEs to furnish info

NEW DELHI: Government has notified new rules for micro, small and medium enterprises (MSMEs) to furnish information in the prescribed format. According to the Micro, Small and Medium Enterprises Development (Furnishing of Information) Rules, 2016, MSMEs need to furnish basic details to the central government online in the databank maintained …

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MSMEs, shopkeepers use cash & cheque for majority of transactions

MUMBAI: MSMEs and shopkeepers are still using cash and cheque for majority of their transactions, despite almost all of them having access to the internet, according to a report by Ficci IBA BCG titled ‘Digital and Beyond: New Horizons in Indian Banking. “There is strong business case for engaging them …

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mjunction services launches anytimeMRO for SMEs and MSMEs

mjunction services, the country’s biggest B2B e-commerce marketplace for steel and coal has launched ‘anytimeMRO’, targeted specially at small & medium enterprises & micro small, medium enterprises & micro, small & medium enterprises (SMEs and MSMEs). The company, which has previously conducted offline aggregation projects for Tata Steel and other …

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PLASTIC SECTOR SMES ARE DEVELOPING COMPETITIVE STRATEGIES

The growing demand for plastic in various sectors has caused the Plastic market to grow phenomenally. Be it transportation, packaging, building materials or other markets, the demand for plastic is prevalent in all of them. The growing demand is making way for innovative processes & approaches on the plastic industry. …

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Ensuring pharmaceutical supply chain effectiveness – cost reduction in finishing & packing operations

The issue: The Pharmaceutical industry is constantly looking at ways to drive cost from its supply chain whilst recognising the need for robust customer service, high quality product and overall compliance. Our client is looking to reduce the cost base of its finishing and packaging operations where an aggressive target …

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Collaborate and capitalise on new sciences

Costs per molecule are still rising relentlessly and the number of new medicines reaching the market remains broadly flat. Why? Our research suggests a distinct problem is scientific and we think three changes would make a big difference. The industry should rebalance its expenditure and invest more in the early …

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Serve growth markets profitably

By 2020, the BRIC economies alone will account for 33% of the world’s GDP. Are growth markets a solution to the harsher conditions of the mature ones? Expenditure on medicines is rising far faster in the growth economies than it is elsewhere (see chart below). But serving the growth markets …

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MSME secretary urges small companies to focus on substituting imports

Substitution of imports can be a major propeller of growth of small and medium enterprises, MSME secretary K K Jalan said on Monday, singling out toys manufacturing as an example. The government’s foremost interest in development of micro, small and medium enterprises (MSMEs) is employment generation, and import substitution can …

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