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MSME

EXPANSION OF MSME SECTOR

Promotion and development of enterprises is a State subject. The Central Government supplements the efforts of the State/UT Governments through various schemes, programmes and policy initiatives for promotion, development and enhancing the competitiveness of MSMEs and to increase employment opportunities in the country. The Ministry of MSME implements various schemes and programmes for growth and development of MSME Sector in ...

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Safe Trade Policy

Countries including India, party to the World Trade Organization (WTO) are obliged to follow the rules and regulations of international trade under WTO Agreements, including the Most-Favoured Nation (MFN) clause. WTO also provides scope to derogate under specific conditions including National Security provisions. Accordingly, the Export policy of Govt. of India is framed within such parameters. For exports from 01.01.2021, ...

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Over Rs. 75,000 crore paid to MSME vendors by Government Ministries/Depts/CPSUs between June and October, 2021

The Atmanirbhar Bharat Package aims to strengthen the Indian economy and increase its competitiveness in the global market with the underlying objective of self-reliance by fulfilling its unique objective of providing financial cushion to Micro, Small and Medium Enterprises (MSMEs) by providing them collateral free loans and encouraging entrepreneurs to produce maximum goods and services within the country. This was ...

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RELIEF TO MSMEs

NSIC facilitates availability of key raw materials like Steel, Aluminium, Copper, Zinc, Polymer, Bitumen, Emulsion, Cement etc., from bulk producers by entering into MoUs with them and provides these raw materials at competitive prices to MSMEs. Further, NSIC is implementing Raw Material Assistance (RMA) Scheme to provide credit support to MSMEs for procurement of raw materials from the bulk manufacturers ...

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  The Ministry of Electronics and Information Technology (MeitY) today hosted a unique event – ‘Digital Payment Utsav’ as part of the week-long ‘Azadi Ka Digital Mahotsav’. The day celebrated the journey and rise of digital payments in India and brought together leaders from the Government, banking sector, fintech companies and startups. The event held at the India Habitat Centre witnessed ...

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Digitizing and Automating the MSME Sector

The Standing Finance Committee has approved the MSME Champions Scheme with a total outlay of Rs. 273.24 Cr. As part of this Scheme a ‘Digital MSME’ component has been included for digital empowerment of MSMEs in the country. In addition to this, there are several Technology Centres under the Ministry are also assisting on technological and automation interventions along with ...

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Coir Industry proliferates and flourishes in non-conventional regions

Coir Board was set up under the Coir Industry Act, 1953 by the Government of India for the overall sustainable development of coir industry in the Country. The functions of the Board as laid down under the Act include undertaking, assisting and encouraging scientific, technological and economic research, modernization, quality improvement, human resource development, market promotion and welfare of all ...

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KVIC Set up Odisha’s First Silk Yarn Production Centre to Boost Local Silk Industry & Create Employment

For hundreds of years, Odisha has been known for its exquisite Silk, particularly the Tussar variety, which provides livelihood to thousands of tribal people, particularly women. But the Silk weavers in the state were totally dependent on states like West Bengal, Jharkhand and Karnataka for the Silk yarn, which increased the cost of the Silk fabric. However, Khadi and Village ...

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Government announces inclusion of Retail and Wholesale trades as MSMEs

Minister of MSME and Road Transport and Highways Shri Nitin Gadkari today announced revised guidelines for MSMEs with inclusion of Retail and Wholesale trades as MSMEs. In a Tweet he said under the leadership of PM Shri Narendra Modi Ji, we are committed to strengthening of MSME and make them engines for economic growth. Shri Gadkari said the revised guidelines ...

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Gadkari calls for creation of Ratings system for MSMEs and Dashboard for effective monitoring of schemes

Minister for MSME and Road Transport and Highways Shri Nitin Gadkari has called for creation of ratings system for MSMEs and Dashboard for effective monitoring of MSME schemes. Addressing a webinar by Chamber of Indian MSME, CIMSME, he said simple and transparent methodology should be evolved to give ratings to MSMEs having good turnover, GST records to enable them to ...

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