The Karnataka government has formed a Micro & Small Industry Facilitation Council to serve MSMEs in Mysuru.Presently, a facilitation council is functioning at Bengaluru set up under the Micro, Small and Medium Enterprises Development (MSMED) Act 2006. It functions as a state-level council and MSMEs had to go to the state capital to seek the council's remedial measure for the recovery of delayed payments by medium, large industries, public sector undertakings, state and central government undertakings. It functions under the chairmanship of the development commissioner and director of the Industries Department, Government of Karnataka.Besides the hassle of going to Bengaluru to file a case for recovery, decisions delayed by over six months to a few years was driving MSMEs to pull down their shutters for their failure to recover the dues from industries to whom they supplied their products in time.In view of this, MSMEs were urging the state government to set up separate facilitation cou

MSME Facilitation Councils being set up

BS Reporter

The project will run for three years and be carried in about total 110 foundry units comprising a Detailed Energy Audit of a plant, tapping all forms of energy used in plants

TERI conducts energy audit for Rajkot foundry cluster

Business Standard

Counts 50-odd companies among its members; in talks with banks to extend loans

US-India Forum looks to sell American Dream to Indian SMEs

The lobby group said this would give a fillip to micro, small and medium enterprises and create jobs

Auto hub, textile marketing centre needed in Madurai: CII

As per the agreement, Samsung India Electronics will offer the Digital Academy course in collaboration with the ministry

Samsung to open academy for skilling youth

When you start availing the exemption, you should pay an amount equal to the Cenvat Credit on inputs lying in stock and the balance of credit shall lapse

'Importers who pass on cenvat credit to customers cannot claim refund'

Unseasonal rainfall in March and April, accompanied by hailstorms, has not only hit farmers but also hurt the prospects of over 2,000 units in Punjab engaged in the manufacture of farm machinery and components, whose sales had already gone into a decline over the past year.Manufacturers want the state and central governments to encourage the farm mechanisation industry by reducing VAT on purchase of steel and increased allocation of subsidy for the purchase of farm equipment under the Rashtriya Kisan Vikas Yojna (RKYS). They also want a R&D centre in Punjab for upgradation of agricultural machinery.Though mechanised agriculture has grown steadily over the years, the declining average size of land holdings has restricted the scope for large-scale farm mechanisation. Other farm equipment - such as power tillers, tractor-drawn implements, reapers, threshers, cleaners/graders, zero-till seed-cum-fertiliser drills, raised bed planters, reapers and rotavators - has been adopted but not t

Punjab farm machinery units hit by unseasonal rain

CRISIL analysed the performance of 1,394 micro, small, and medium enterprises (MSMEs) that were rated on the basis of their 2013-14 (financial year April 1 to March 31) financials. The study revealed that while loans from banks/financial institutions account for 77 per cent of the total loans availed by these companies, unsecured loans from the promoters and their family members account for the remaining 23 per cent.Currently, a majority of private limited or unlisted companies accept unsecured loans from promoters and their family members. The Companies Act, 2013, stipulates that all such deposits or unsecured loans accepted till date will need to be repaid, and the impact must be reflected in the company's financials. Also, under the same Act, a company can accept such loans provided that the amount has not been in turn borrowed by the promoters or their family members from some other source.This provision is likely to impact companies that already have accepted such deposits/loans.

MSMEs will have to change their funding profile

The modification of priority sector lending norms by the Reserve Bank of India to bring small and medium enterprises (SMEs) and export units under the 'priority sector' is expected to open new avenues for SMEs.S C Ralhan, a Ludhiana exporter and president of the Federation of Indian Exports Organisations, said that the RBI move, together with the recent increase in the upper limit for investment in plant and machinery for medium-sized enterprises, will ensure that credit flows to all manufacturers with investment in plant and machinery of up to Rs 10 crore now.Medium-sized units were not included in priority sector lending earlier. The definition of medium-sized units has also been revised from investment in plant and machinery of Rs 5 crore or less, to Rs 10 crore or less, and this will help more firms to seek credit under the priority sector norms.Ralhan said that while medium enterprises will be covered under the general norm, for exports, credit of up to 32 per cent of adjusted net

Revised credit norms to give SMEs a boost

The Federation of Indian Chambers and Commerce of India (Ficci) is working closely with the central government on skill mapping in each state to develop an accurate assessment of their skill development needs. Talking to Business Standard, Sanjay Bhatia, president, Ficci Council for MSME (micro, small and medium enterprises), said that MSMEs across India need upgradation of skills."We are working through our state councils to create a bridge with state governments for upgradation of existing skill centres," said Bhatia, who is also managing director of Hindustan Tin Works Limited.During its executive committee meeting in Chandigarh last week, Ficci also urged the state governments to ensure that state public sector enterprises source their procurement needs from MSMEs. Under the public procurement policy of the central government, PSUs are obliged to procure 20 per cent of their needs from MSMEs, but this has not been strictly implemented.MSMEs, he said, can play the desired role in th

Ficci working with state govts on skill-building

In the last three years, the number of tanneries in Tamil Nadu has fallen from 820 to 450-460

Stricter pollution rules: TN leather units feel the heat

It is also targeting e-commerce space, and will launch India's first dedicated online store for solar and LED products this month

Punjab firm to open more outlets for solar products

After March 1, 2015 our excise authorities told us that a new definition of 'export' has been inserted in Rule 18 and Cenvat Credit Rule 5, which covers only taking goods to a place outside India and so, for supplies to SEZ, rebate will not be available. We started clearing under UT-1 bond but they said that refund of unutilised Cenvat Credit will also not be available. How can we utilise the Credit that we are accumulating?CBEC has now issued circular no. 1001/8/2015-CX.8 dated April 28, 2015 clarifying that any licit clearances of goods to SEZ from DTA will continue to be export and, therefore, will be entitled to the benefit of rebate under rule 18 of CER, 2002 and of refund of accumulated Cenvat credit under Rule 5 of CCR, 2004, as the case may be.We refer to your reply (SME Chatroom dated April 21, 2014) stating that conceptually you see no harm in issuing DFIA as per current policy against exports already made, as the essential requirements of the DFIA scheme in the new Foreign T

'Legal clearance of goods from DTA to SEZ entitled to Cenvat credit refund'

The meet, scheduled for September 9-10, will seek to realise the state's vision of inclusive growth through investment inflows

Tamil Nadu to hold investor meet with focus on MSMEs

Unable to compete with cheaper imported goods from China and other countries, many small rubber goods manufacturers have turned to trading of rubber goods

MSMEs in rubber sector urge government not to hike duty till expert group's report

Can we make imports within the validity period of advance authorisation issued in the earlier policy, where we have not imported any materials but have completed full or part of the export obligation?As per para 1.05 (a) of the new Foreign Trade Policy (FTP), 'any licence/authorisation/ certificate/scrip/any instrument bestowing financial or fiscal benefit issued before commencement of FTP 2015-20 shall continue to be valid for the purpose and duration for which such licence/authorisation/ certificate/scrip/any instrument bestowing financial or fiscal benefit Authorisation was issued, unless otherwise stipulated'. Therefore, you can import under your authorisation within its validity but you must take note that as per para 2.18 (a) of Handbook of Procedures, Vol. 1 'authorisations must be valid on the date of import'. The earlier provision stating that 'where an authorisation expires during the month, such authorisation shall be deemed to be valid until last day of concerned month' doe

'Advance authorisations must be valid on the date of import'

The e-commerce platform will procure raw materials from its suppliers in bulk and will offer it to small buyers at a discounted price

E-commerce portal for SMEs launched

CRISIL analysed the performance of 1,550 micro, small, and medium enterprises (MSMEs) in the manufacturing and trading sector, which were rated on the basis of their 2013-14 (financial year April 1 to March 31) financials, and found that MSMEs that focused on marketing strategies registered a higher growth than those with limited strategies in place. As a part of its ratings process for MSMEs, CRISIL analyses marketing strategies by looking at aspects such as MSMEs' dependence on word-of-mouth publicity, the presence and strength of their marketing team or networks, and their use  of advertising or publicity, including online advertising and participation in trade events.The average sales of MSMEs that had an adequate marketing strategy increased to Rs 33.54 crore in 2013-14, from Rs 23.23 crore in 2011-12 - a compound annual growth rate (CAGR) of 20.16 per cent. In comparison, the average sales of MSMEs with a limited marketing strategy increased to Rs 14.45 crore in 2013-14, from Rs

MSMEs with strong marketing focus grow faster

Shruti Sharma started Pristine Edutronics, a company that trains students through programmes that enhance their skills and hence their employability

They turned entrepreneurs to impact people's lives

With over 700 tanneries facing an uncertain future for spewing pollutants into the river Ganga at Kanpur, Indian Institute of Technology (IIT)-Roorkee has come up with a solution to curb their toxic wastes.Under a pilot project, IIT-Roorkee has developed a catalyst which can be used in the redesigned chambers to bring down the level of TDS (dissolved solids) from 18,000-25,000 parts per million (PPM) to 1,000-1,500 PPM, which is well under the permissible limit.The pilot project has been given to IIT-Roorkee by a consortium of five top tanneries of Kanpur, which includes Mirza International, Asia's biggest tannery, says Prof Shishir Sinha of the department of chemical engineering at IIT-Roorkee. Super House, Model Exim, Kingston and Allen Cooper are the other four tanneries in the consortium."We have successfully launched a pilot project at Kanpur to curb pollution of tanneries by developing a catalyst which can be used in redesigned chambers to bring down the level of TDS," said Sinha

IIT-Roorkee catalyst to curb Kanpur tannery wastes

Stagnant demand has led to a situation of excess capacity for wall tile manufacturers in Gujarat's Morbi district. Adding to their woes is higher production costs, leading to tougher competition for small and medium enterprises (SMEs) from Chinese products, which are becoming viable in the global market.In the past year, wall tile manufacturers' production capacity has increased by about 30 per cent, while actual demand has declined by nearly 40 per cent."Apparently, it is the wall tile makers who are to be blamed for this situation. Without understanding the market demand, many players increased their production, resulting in over-capacity," said M P Shorya, managing director, Orbit Cera Tiles Private Limited.Shorya, who is also the secretary of the Morbi Dhuva Glaze Tiles Association, added that the ceramic industry in Morbi is not expected to emerge from the over-capacity situation for the next two years. Overall business, he said, will be down by at least 20 per cent over the next

Morbi wall tile industry hit by excess capacity

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