Industrialists said the three basic unresolved problems since 10 years have put the sector far behind in growth and also cause loss to the state exchequer

Chandigarh SMEs want to be in party manifestos

Business Standard

Outstanding loans of sick units have risen by nearly 145% - from Rs 5,233 cr to Rs 12,800 cr - between 2010 and 2013

Govt concerned at 221% rise in sick MSMEs

We have wrongly availed Cenvat Credit but not utilised it for payment of Central Excise duty. We have reversed the Credit but the department wants interest. Are we required to pay? Yes. As per Rule 14 of the Cenvat Credit Rules, 2004, as amended on 17.3.2012, where the Cenvat Credit has been taken and utilised wrongly or has been erroneously refunded, the same along with interest shall be recovered from the manufacturer. In your case, you had taken Credit wrongly but not utilised it and so, no interest is payable.We are a manufacturer exporter of tyre and tube repair patches/material (HS Code is 40169310, 40082120, 40059190, etc.) and we are supplying these materials regularly to Nepal/Bhutan and getting payments through banking channels but in Indian rupees. We want to know whether we can take the benefit of Advance licence or Drawback or any other export incentives.As per Customs notification 208/1977-Customs (N.T.), dated 1st October, 1977 and Para 2.40 of the Foreign Trade Policy (

'To qualify for duty drawback, exporters must get paid in foreign currency'

BS ReporterHyderabad, 18 Mar: Most of the engineering graduates in Hyderabad are open to taking up jobs in small and medium enterprises (SMEs), according to a survey findings of the TMI Group, a leading HR and recruitment services firm.The survey revealed that 98.4 per cent of engineering graduates are willing to work in the SME sector.The survey covered  328 engineering graduates with 0-5 years of work experience. "The findings come as a relief given the number of engineering graduates adding to the pool of jobseekers every year and recruitment in large companies falling drastically. This is the right time for SMEs to highlight the advantages of working with the SME sector and benefits they provide to their employees, and grab their due share of talent, finally putting an end to their talent woes",  TMI executive chairman, T Muralidharan, stated in a press release on Tuesday.While 90.8 per cent of the respondents said that they believe SMEs are good places to work, 53.96 per cent resp

Most of engineering graduates ready to work in SMEs

BS Reporter

Kavi Arora

Interview with CEO, Religare Finvest Limited

We strive to be holistic growth partners of SMEs: Kavi Arora

CRISIL has analysed the employee strength of 1,400 micro, small, and medium enterprises (MSMEs) in the service sector in 2012-13 (refers to the financial year, April 1 to March 31). The study was conducted to compare the employment generation potential of various industries in the service sector. The results indicate that employment-intensity is highest in manpower-intensive services like security agencies, housekeeping, and facility management.After manpower-based services, the top five service industries - in the order of their employment-intensity -- are automotive dealers, education services, logistics services, media-advertising and IT services. These industries provide job opportunities to skilled as well as semi-skilled manpower. MSMEs in the service sector are key contributors to India's GDP. These enterprises merit strong policy support and incentives for their growth, keeping in view their employment generation potential.Note: The analysis is based on the latest audited finan

High employment intensity in service-sector MSMEs

State government announces incentive package for development of MSMEs

TN adopts cluster strategy for small enterprises

Try and imagine a place that has no noise and other pollution, where the only sounds are those of birds and streams and waterfalls, and throw in a campsite for good measure. Convinced that this combination could be a sure-fire formula for business success, two entrepreneurs from Chennai founded Ecologin five years ago. The company offers trekking, guided tours to natural hot spots and wildlife viewing.Sridhar Lakshmanan and Arul Sekar founded Ecologin after graduating from IIM-Ahmedabad and IIT-Madras respectively, and initially working with a variety of firms. The company, patronised by senior corporate executives in need of a break from their hectic lives, is now acquiring a middle-class clientele as well.Ecologin, incubated in IIT-Madras' department of management studies, offers a tourism experience in offbeat locations in and around Tamil Nadu, says Lakshmanan, a travel addict. The company is a result of the duo's preference for self-employment, combined with their passion for trav

A business out of tours to natural hot spots

At a time when Uttarakhand is offering a mega industrial policy, new Chief Minister Harish Rawat is focusing on micro, small and medium enterprises (MSMEs)."I am not focusing on industrialisation. My entire focus will be on saving the precious ecology of the hill state and promoting small, employment-oriented units, particularly in the tourism sector in the hills," Rawat told Business Standard.By the time the Centre extended the package of hill-based incentives in 2003, the process of industrialisation had taken a big leap, and states such as Punjab, Uttar Pradesh, Bihar, Gujarat and Haryana began opposing the tax incentives. Finally, the Centre curtailed the package to seven years.After the expiry of two major components of the package - excise and income tax concessions - industrialisation in the hill state slowed down, although the overall economic downturn also contributed. The new schemes being launched by the government have been devised to help those who were affected by last Ju

Uttarakhand CM focuses on small units

In order to explore the trade potential for the import of machinery by Indian micro, small and medium enterprises (MSMEs), a two-day Taiwan Machinery Catalogue Show, 2014 was organised by the PHD Chamber of Commerce and Industry in association with Taiwan Association of Machinery Industry (TAMI) in Chandigarh last week.The main objective of this show, said Dalip Sharma, Director, PHD Chamber, was to promote business and trade in the field of machinery, to spur fruitful bilateral trade relations between both India and Taiwan.The exhibitors displayed opportunities for industrial and technological transfer, besides trade in machinery, in addition to providing information on the latest, innovative, high-precision and high-technology machine tools for improving manufacturing efficiency, and the growth of MSMEs in India, added Sharma.About 400 small and medium-scale entrepreneurs participated, to gain insights into the technology that state-of-the-art Taiwanese machinery could offer them.Acc

Small enterprises flock to Taiwan machinery show

We had imported some goods, which have been re-exported for repair and return. However, out of the total quantity, some of the goods are beyond repair. What is the procedure for the destruction of these beyond-repair goods so as to close the GR waiver issued by the bank in support of the above re-export?No specific procedure is laid down for such cases. In my opinion, if you submit to your bank a certificate from the repairing agency that the goods are beyond repair and a certificate from an independent agency regarding destruction of the goods along with your explanation of the case, the GR waiver can be closed by your bank on the basis of the documents and your explanation. Of course, the bank may expect you to take up with the original suppliers the fact of supply of defective goods and to recover any money remitted towards import of defective goods.We are a 100 per cent EOU manufacturing pressure valves. We imported capital goods (without payment of duty under EOU scheme) under cha

'EOUs are free to sell surplus duty-free goods in DTA on paying customs duty'

Worried over diminishing returns from small holdings in the state, young and educated farmers in Punjab with an entrepreneurial streak are venturing into commercial dairy farming. The farmers say that a commercial dairy farm gives them high returns compared with conventional agriculture on small land-holdings, which is proving unsustainable.There are about 6,000 progressive dairy farmers in Punjab and the state has more such farmers than any other Indian state, with farms varying in size from 10 to 500 high-yielding breeds of cows. Also, the daily production of milk by these farms is about 12-15 lakh litres. The success of commercial dairy farming in the state can be gauged from the fact that seven years ago, it had only about 600 commercial dairy farms, while today it has over 6,000 dairy farms. Further, as word about these remunerative ventures is spreading, more and more progressive and enterprising farmers are entering this business.Harinder Singh, a progressive dairy farmer who is

Educated farmers in Punjab venture into dairy farming

CRISIL has analysed the employee strength in 3,500 micro, small, and medium enterprises (MSMEs) in the manufacturing and service sectors in 2012-13 (refers to the financial year, April 1 to March 31). The study was conducted to compare their individual employment generation potential and the composition of permanent versus contractual workforce. The study indicates that employment-intensity in service-sector MSMEs is more than double that in the manufacturing sector.On average, service-sector enterprises employ 168 people per unit, as compared to 80 people per manufacturing unit. However, the ratio of permanent and contractual employees among MSMEs in both sectors is almost the same, at approximately 2:1.The key service segments promising higher employment opportunities are security agencies, automotive dealers and logistics providers -- a trend that underscores the potential of service enterprises to absorb workers who are not highly skilled, and hence need appropriate policy support

Service-sector MSMEs provide maximum job opportunities

About 80 per cent of India's $12 bn foundry industry comprises SMEs, 15% are medium-sized players and only five per cent are large units

Nearly 15% SME foundries shut shop due to demand slump

In addition to these SMEs, software giant Infosys has laid the foundation stone for its campus and committed an investment of Rs 425 crore in the first phase

Over 20 small IT firms get nod to invest in Punjab

A meeting of the Reserve Bank of India's Standing Advisory Committee has been convened this month to review the flow of institutional credit to the micro, small and medium enterprises (MSME) sector, according to the fortnightly e-newsletter of the Federation of Indian Micro, Small and Medium Enterprises (FISME).The RBI has constituted the Standing Advisory Committee (SAC) with Deputy Governor K C Chakrabarty as chairman. The officials of the ministry of micro, small and medium enterprises, banks and associations of the MSME sector are members of the SAC.The committee has been mandated to examine issues relating to credit availability to the MSME sector. It will also examine the constraints and the steps being taken to overcome them, so that the institutional credit flow to MSMEs improves.On the agenda for the meeting is a review of credit to the MSME sector, the newsletter said. In this regard, it will review data on outstanding credit to the sector as on December 31, 2013 as received

RBI panel to review credit flow to MSME sector

Initiative to promote brand equity of Indian marine products in markets

MPEDA's co-branding drive for seafood exports

Will benefit only if excise cuts on cars and SUVs are retained by incoming govt

Auto part makers unsure about revival in demand

As per Section 69 of the Customs Act, 1962, you have to file a shipping bill or bill of export or label or declaration accompanying the goods (for exports by post)

'FoB value of exports must be 15% more than CIF rupee value of imports'

With a draft industrial policy for micro, small and medium enterprises (MSMEs) being fine-tuned and the Centre extending a capital subsidy scheme, the Uttarakhand government is getting ready to set up a new industrial estate exclusively for the MSME sector at Lal Kuan in the Kumaon region.An announcement to this effect had already been made by the former chief minister, Vijay Bahuguna, after the Centre extended the capital investment subsidy scheme under the special industrial package of 2003 for Himachal Pradesh and Uttarakhand with retrospective effect from January 7, 2013 until March 31, 2017.The Cabinet Committee on Economic Affairs (CCEA) had put its seal of approval on the capital investment subsidy for the two states on January 15.Immediately after the announcement on the capital subsidy, the government said the incentive is being extended only for the MSME sector at the rate of 15 per cent, with a cap of Rs 50 lakh, for setting up new units or sizeable expansions. The governmen

Uttarakhand to set up new industrial estate at Lal Kuan

Over two million people have been provided employment and Rs 5,381.63 crore released under the Prime Minister's Employment Generation Programme (PMEGP), since it was launched by the ministry of micro, small and medium enterprises (MSME) on August 15, 2008. According to a release of the ministry, more than 233,000 lakh projects have already been assisted.The government has been enhancing the allocation for PMEGP every year and the allocation for 2013-14 is Rs 1,418.28 crore. For the country as a whole, the outlay for the PMEGP in the Twelfth Plan is Rs 8,060 crore - 70 per cent higher than the allocation in the Eleventh Plan."The PMEGP is a major credit-linked subsidy programme aimed at generating self-employment opportunities, as well as wage employment through establishment of micro-enterprises in the non-farm sector by helping traditional artisans and unemployed youth. KVIC [the Khadi and Village Industries Commission] is the Nodal agency at national level to implement the scheme acr

Over 2 million get employed under job scheme

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