The government has decided to launch within a month a portal on the lines of Alibaba in China and Amazon in the US for selling products manufactured by small industries.
The Congress government’s breakthrough policy reform for micro, small, medium enterprises (MSME) on Monday crossed a a momentous milestone of 1,000 companies getting one-shot nod to start their projects.
The first-of-its-kind surrogate lending model wherein no financial statements will be required and credit appraisal will be done basis data-points pulled from GST returns and operative Bank accounts of MSMEs
Companies will soon not require multiple registrations, as they do now under a plethora of labour laws, because the government has proposed one licence, one registration, and one return for establishments.
India is lagging in cotton exports to major markets due to a duty disadvantage vis-a-vis Bangladesh, Vietnam and Pakistan, a Confederation of Indian Textile Industry (CITI) study found. Indian export of cotton yarn to the likes of the European Union (EU) and China slumped 25% in the past five years, while fabric export fell 7%.
The Reserve Banks restructuring package for small businesses announced last month will help recast Rs 1 lakh crore of loans for 7 lakh eligible micro, small and medium enterprises, a top government official has said. The estimate from the Department of Financial Services (DFS) secretary Rajiv Kumar is much higher than domestic rating agency Icras assessment of Rs 10,000 crore. It comes even as some banks have seen a reluctance among the target MSMEs to take advantage of the scheme.
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