'The pricing model will be different. The product will be different.'
Despite accounting for 40 per cent of manufactured goods exports and over 70 per cent of sectoral employment, SMEs have consistently been the Cinderella of the Indian economy.
Two ex-IIT Kharagpur students have decided to come out of their comfortable professional zones to create a venture called 'Demazi', which would enable SMEs to create their own IT solution online at a minimal cost. SMEs owners can log on to the website and key in the requirments they need from the software.
Noting that SMEs in India account of substantial part of domestic production and that 40 per cent of the manufacturing and exports come out of SMEs, the minister said that SMEs, particularly the medium enterprises, are great incubators of technologies and that such an initiative would make the bilateral trade and commerce more meaningful.
The apex body representing Indian IT industry, Nasscom, on Wednesday said that small and medium enterprises (SMEs) would drive growth in the sector and help India maintain its lead globally.
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.
An Evalueserve study says that globally, the revenue from this sector is likely to grow from Rs 1,000 crore (Rs 10 billion) in 2006-07 to over Rs 8,000 crore (Rs 80 billion) by 2015.
Capital markets are becoming more prominent in India's growth story, with an expanding share in capital formation and investment landscape on the back of technology, innovation and digitisation, according to the Economic Survey 2023-24 tabled in Parliament on Monday. Further, Indian markets are resilient to global geo-political and economic shocks, it added. "Despite heightened geo-political risks, rising interest rates and volatile commodity prices, Indian capital markets have been one of the best performing among emerging markets in FY24," the Economic Survey said.
India SME Forum, an organisation for small and medium businesses, has called for creating a dedicated fund of Rs 5000 crore for the export capacity development, promotion, and marketing of Micro, Small & Medium Enterprises (MSMEs) in its Budget recommendation. The forum for MSMEs with over 98,000 members said that to enhance India's global competitiveness and increase its market share in global exports, it was "crucial to increase the number of active exporters and enable at least 3-4 lakh first-time micro, small, and medium exporters while supporting them in promoting Indian products globally."
Computer hardware majors like Dell, HP and HCL launch products to woo companies.
Prime Minister Narendra Modi led-NDA government in its third term must tackle the problem of unemployment in the country, especially in the unorganised sector and in small and medium enterprises, former NITI Aayog Vice Chairman Rajiv Kumar said on Monday. Kumar also emphasised that the government now must finalise the four labour codes as it has been delayed beyond expectations. "We must recognise that post-COVID economic recovery has been a K-shaped recovery.
To be listed on the main boards of the NSE and BSE, these exchanges will have to have Rs 10 crore of minimum paid up capital.
The midsize companies currently not present in the US, are keen in having slice of the pie.
The government on Wednesday announced a major package for doubling bank credit to small and medium sized companies to Rs 1,35,000 crore (Rs 1350 billion) in 5 years and reducing their debt burden.
A separate trading platform for small and medium sized enterprises would come up in the next few days, a senior finance ministry official said on Thursday. \n
The move is expected to cut into the business of rival Bombay Stock Exchange (BSE).
The Indian SMEs have spent over $5 billion on telecom equipment and services last year. Further growth is expected from the cellular market which is set to grow at over 13 per cent.
The World Bank has approved a $120 million loan to support the development of India's small and medium enterprises sector.
Eighty per cent, or 60 of the 75 companies that made their debut on the mainboard this financial year, ended their listing day with gains.
In order to augment funds for SMEs (Small and Medium Enterprises), Finance Minister Pranab Mukherjee, in the General Budget 2012-13 presented in Lok Sabha, has proposed to exempt capital gains tax on sale of a residential property, if the sale consideration is used for subscription in equity of a manufacturing SME company for purchase of new plant and machinery.
The initial public offerings (IPOs) by small and medium enterprises (SMEs) hit a new high in 2023-2024 (FY24). In this financial year, data from the Prime Database showed that 190 companies raised Rs 5,579 crore through the SME IPO route. This financial year's tally bettered the fundraising in the previous financial year when 125 companies raised Rs 2,235 crore.
Air India and Tata Advanced Systems Ltd (TASL), a player in aerospace and defence solutions, on Monday signed a memorandum of understanding (MoU) with the Karnataka government for an investment of ~2,300 crore in the state's aerospace and defence sector. The strategic move is expected to enhance Karnataka's aerospace ecosystem and help create over 1,600 direct and 25,000 indirect jobs in the state.
The government, in collaboration with the UN-body World Intellectual Property Organisation (WIPO), has commissioned a study to ascertain whether India's small and medium enterprises (SMEs) are prepared to adopt the global IPR regime.
India Inc as a whole has recorded a 62 per cent rise in net profit and 310 basis point rise in margins.
Re-rating of Axis Bank's stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials. The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality. Axis Bank's net interest margin (NIM) expanded, against expectations, even in a tough market.
An initiative of Nandan Nilekani's EkStep Foundation, people+ai on Tuesday unveiled its vision for the future of Artificial Intelligence (AI) in India, dubbed 'Adbhut India' (Amazing India). It aims to harness AI as a powerful tool to enhance the lives of all Indians. The event marked the rollout of several initiatives by people+ai that are focused on discovering, demonstrating, and disseminating population-scale AI use cases for India.
The ongoing weakness in the broader equity market is likely to weigh on primary market investor participation ahead, which has already begun showing signs of fatigue, analysts said. The spillover effect, they say, will continue as long as the midcap and smallcap segments remain volatile. "The effect will be felt in the IPO market. The subscription levels have come down in the last few days and recent 4-5 IPOs have not done well.
The diplomatic rift between India and Maldives, coupled with the suspension of flight bookings on one of India's major travel portals, has sent jitters down the spine of tour operators in the island nation. The Maldivian Association of Travel Agents and Tour Operators (MATATO), a forum for travel agents, has stressed that the Indian market is important to the success of tourism in Maldives.
The spend is an increase of 24 per cent over the previous year.
There are conflicting views on Delhivery. The logistics player's results for the July-September quarter (Q2FY24) are being interpreted as good by some analysts and disappointing by others. As India's largest listed logistics player, the company stands to benefit from the formalisation across the mostly unorganised logistics space. Delhivery provides solutions to 23,113 customers, including e-commerce marketplaces, direct-to-consumer e-tailers, and enterprises across verticals.
In the current calendar year, small and medium enterprises (SMEs) have witnessed an impressive surge in initial public offerings (IPOs), surpassing the 2018 record. Over 150 SME IPOs have been introduced to the market, breaking the previous record of 141 set in 2018. According to data from PRIME Database, a primary market tracking firm, 147 companies successfully concluded their debut share sales by the end of October, raising a cumulative Rs 3,727 crore.
E-commerce giant Amazon on Thursday announced a $250 million (about Rs 1,873 crore) fund that will focus on digitising small and medium businesses, and driving innovation in the areas of agri-tech and health-tech in India. "Small and medium sized businesses are often the engine and the lifeblood of economies and I think it's true in India as well. "And we are very passionate about trying to enable acceleration of SMBs in fuelling innovation and the economy in India," Amazon Web Services CEO Andrew Jassy said.
Sandberg is also expected to meet developers at the company's headquarters in Hyderabad.
IPO-bound hospitality major OYO has written to the Ministry of Tourism (MoT) requesting it to intervene and investigate the running of the Federation of Hotel and Restaurant Associations of India (FHRAI) and order eviction of erring executive committee members. The hotel aggregator urged the MoT to take necessary action against FHRAI's "illegally run" Executive Committee and its members who are working for self-interest instead of that of small hotel owners. The representation by OYO alleged that FHRAI's actions are detrimental to small hotel owners.
There are loans to salaried people where the borrower is employed, but has failed to make repayment. Such loans would be identified and sold in a pool to ARCs.
It is pouring heavily not only in North India, but at Dalal Street too. However, the latter is seeing a flurry of initial public offers (IPOs). After a busy fortnight that ended on July 7 with seven IPOs - IdeaForge Technology, Cyient DLM, PKH Ventures, Pentagon Rubber, Global Pet Industries, Tridhya Tech, and Synoptics Technologies -- four more IPOs will hit the Street this week, including one mainboard IPO of Utkarsh Small Finance Bank. That apart, India's largest securities' depository National Securities Depository Limited (NSDL) has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an IPO.
Strong performance of past IPOs spurred investors' interest, with 87 small and medium enterprises (SMEs) garnering Rs 1,460 crore through initial share-sales in the first nine months of the year. This was way higher than 56 companies that had raised Rs 783 crore through initial public offering (IPO) in the entire 2021, the industry data showed. Further, the remaining part of the year 2022 can see more mature companies accessing the platform.
Reliance Retail's digital commerce platform JioMart will morph into an e-marketplace offering multiple brands - from electronics, consumer durables, fashion and lifestyle, beauty, home, kitchen, and grocery - as it girds up to take on the likes of Amazon and Flipkart ahead of the festival season sales. India's largest retailer was in the process of onboarding third-party sellers these past few months, further increasing its selection across categories multifold. Its website and application offers general merchandise as well.
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