The Industries Association of Uttarakhand, an organisation of MSMEs, has prepared an agenda for the Budget.
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
In his first poll rally for the April 6 assembly polls, Modi rooted for the Tamil language, culture and invoked the welfare legacies of M G Ramachandran and J Jayalalithaa, late chief ministers and All India Anna Dravida Munnetra Kazhagam icons.
While the directorate general of foreign trade has completed consultations with the industry and exporters, it will start interacting with the different ministries like agriculture, finance, micro, small and medium Enterprises, steel and environment. Revenue department in the finance ministry holds the key for extending benefits to exporters who are facing the brunt of recession in several major economies.
A small firm with a track record of distributable profit for at least three out of the immediately preceding five years may be eligible for the listing.
Indian small and medium enterprises (SMEs) are actively investing in building energy-efficient IT infrastructure and are ahead of their foreign counterparts, a survey said.
The government and Reserve Bank of India are working on opening a massive Rs 75,000 crore refinance window to provide concessional funds for infrastructure, housing and small and medium enterprises by partly leveraging the country's foreign exchange reserves.
Wipro currently has operations in Chengdu and Shanghai, where it employs 305 people. The ramp-up will boost the company's headcount in China to over 3,000, according to Anil Bhardwaj, secretary-general, Federation of Indian Small and Medium Enterprises, who addressed reporters in Bangalore on Monday.
Most recession-hit clients, domestic and foreign, are asking for price cuts that large Indian IT firms are unable to offer due to high overheads. However, SMEs can afford to do so, since their employee costs are low. This is the right time to enter the domestic market, which is projected to expand five-fold by 2020 to $90-100 billion, including both technology and business outsourcing, said K Purushothaman, Nasscom's regional director for Tamil Nadu and Kerala.
PSBs have been requested to reach out to MSMEs to provide bill discounting to them against their dues since they suffer the most from shortage of cash.
In order to boost micro, small and medium enterprises, the Reserve Bank of India has directed all banks to provide 60 per cent credit to micro units out of the total loans extended to micro and small units.
The government on Friday came out with a new press note stipulating that foreign direct investment in micro and small enterprises (MSE) will be governed by sectoral caps and other regulations instead of the earlier 24 per cent ceiling on the foreign equity holding.
"The Securities and Exchange Board of India is working on the concept paper on SME exchanges. It may soon release the guidelines," Minister of State for Micro, Small and Medium Enterprises Dinsha Patel said at a seminar jointly organised by MCX-SX and the Society for Capital Market Research and Development in New Delhi on Tuesday.
The prime minister, who reviewed the performance and difficulties of the sector with the industry representatives on Wednesday, said public sector banks increased lending to MSMEs by 25 per cent in 2008-09. According to estimates, MSMEs are given credit of about Rs 1,50,000 crore (Rs 1,500 billion) by PSU banks per annum.
SEO poisoning is a technique used by malware authors to mix rogue search results with legitimate ones. This attack, coupled with news items that are of interest to users, is a lethal combination.
Replying to supplementaries during Question Hour in Rajya Sabha, minister for micro, small and medium industries Mahavir Prasad said the RBI had in September 8, 2005 issued guidelines relating to debt restructuring mechanism for SMEs, based on the 'policy package for stepping up credit to SMEs' announced by the Centre the same year.
The Union home ministry on May 13 had declared that these canteens will only sell indigenous or "swadeshi" products from June 1 in a bid to give fillip to domestic industries.
In a possible precursor to further rate cuts, Finance Minister Pranab Mukherjee's meeting with public sector bank chiefs on Monday will review their benchmark prime lending rates and interest rates on loans for automobiles, homes, small and medium enterprises and non-banking finance companies.
A cabinet note for setting up a fund, with initial corpus of Rs 1,000 crore (Rs 10 billion), to provide credit to businesses in the unorganised sector has been prepared, a senior government official said.
Gandhi, who is in the United Arab Emirates on the second day of his maiden visit to the country, said India did not force one idea on the people and can absorb multiple ideas.
Apart from textiles, gems and jewellery, engineering, chemicals and petrochemicals, which are the sectors where the state has proved its strength, the new policy will focus on potential sectors such as agri business, fisheries and informal sector. Emerging sectors such as IT/ ITEs, nano technology, biotechnology, non-conventional energy resources have been given priority in the policy.
A task force formed by Prime Minister Manmohan Singh on Thursday discussed steps to enhance credit to MSMEs, which contribute 45 per cent to the country's industrial production.
The midsize companies currently not present in the US, are keen in having slice of the pie.
According to a study by IT security solutions provider Symantec, while companies understood the need to protect information indicating high awareness levels, this did not translate into users deploying solutions to effectively protect corporate data. While 24 per cent of the respondents said their IT spends were about $1,500-5,000 (Rs 70,900-2,35,000), another 23 per cent said they invested less than $500 (Rs 23,637) annually on IT.
Bankers are likely to urge the Reserve Bank not to hike its key-rates and mandatory cash requirement in its April-policy, as they fear that this would affect their liquidity, resulting in a sharp surge in lending rates.
Dell says the credit goes to its campaign -- 'Take Your Own Path' -- launched in October, 2008. It was the first such campaign by Dell anywhere in the world as the company mainly relied on direct marketing earlier.
Since September last year, when everyone realised that the global economic meltdown could not be wished away, industry groups have been dishing out data on job losses. Among these is the Confederation of Indian Textile Industry, which said a million jobs had been lost in the last financial year. Most textile companies expect the situation to improve by October this year.
NITI Aayog's Rajiv Kumar accused former prime minister Manmohan Singh and senior Congress leader P Chidambaram of creating a 'false narrative'
'67 per cent of our transactions happen digitally and about 93 per cent of transactions happen outside the branch.' 'Despite that, there is ample scope for promoting banking-related activities in branches.' 'So, for some time, we will have to, probably, live with the same structure.'
Here's some good news for those with innovative ideas. In an effort to support aspiring entrepreneurs, the government has launched an incubator scheme.
C2C DB Systems is tightly integrated into India's warship production eco-system.
'If Urjit Patel had resigned after the five-state elections results people would have taken a different view. So this was the right time for him to resign.' 'He rightly resigned as he felt the differences with the government were not getting settled.'
The ability of Indian pharmaceutical companies to command higher margins in international markets is helping sustain business.
Dell has announced the launch in India of its Global Small Business Excellence Award. India will be participating in these awards for the first time. The global competition will see entries from 13 countries, including China, Japan, Australia and New Zealand. The winner will get $50,000 (around Rs 2.5 million) in Dell solutions and a meeting with Chairman Michael Dell. For the India leg of the competition, Dell expects 300-400 entries.
Once the bankruptcy provisions are notified, these proprietary firms will benefit, as Insolvency and Bankruptcy Board plans to consider them as individuals
Projects worth over Rs 70,000 crore (Rs 700 billion) to upgrade technology have been kickstarted in the country.
'Giriraj Singh has told the central leadership that he is being made a target by some BJP leaders and some JD-U in a conspiracy to defeat him in the polls.'
The case is related to the alleged irregularities in granting clearance by the Foreign Investment Promotion Board to INX Media, once owned by Peter and Indrani Mukherjea, for receiving overseas funds to the tune of Rs 305 crore.
The government sees the total employment in village industries touching over 1 crore (10 million) by the end of current financial year from nearly 93 lakh in the previous fiscal.
Officers across departments and ministries have been asked to speak to people across sectors for 'SWOT' analysis of issues for revival of the economy.
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