News

ETRISE launches Biz Listings, aims to help Indian SMEs grow their business

The Economic Times, 3 November 2017

As more and more consumers move online, having a web presence that can be easily discovered and generate visibility, leads and business becomes essential. In order to provide quick, reliable and comprehensive information to the users and connecting buyers (service seekers) with the sellers (service providers), ETRISE has launched 'Biz listings' for small businesses. ETRISE Biz Listings is a 'one-stop' platform enlisting Service providers / SMEs from various industries and will be accessible from across ET’s digital platforms.
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India’s new rank of 100 on Ease of Doing Business index not reflective of situation for MSMEs: IIA

KNN, 2 November 2017

In the World Bank's "Doing business" report of 2018, India has jumped to 100th place from 130th in 2017, the Finance Ministry informed recently. However this jump is not very reflective of the situation of the ecosystem that continues to haunts the MSMEs of the country, Indian Industries Association said.
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AU Small Bank, SIDBI launch Rs 200-cr fund for MSMEs

The Hindu Business Line, 28 October 2017

AU Small Finance Bank today tied up with SIDBI to launch a Rs 200-crore fund for providing loans to MSMEs. The programme will fund term loans in the Rs 25 lakh to Rs 2 crore ticket size. Under the advice of SIDBI, AU Bank will play the anchor in this programme as all the processes including disbursement, monitoring and recovery will be handled by them. The appraisal of the proposal shall be done jointly by AU Bank and SIDBI .Both the financial institutions will earmark a corpus of Rs 100 crore for lending under this agreement this financial year.
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Crisil SME Tracker: Incentivized SMEs can help bridge India's skill deficit

Business Standard, 15 September 2017

CRISIL believes subsidizing and incentivizing credible SMEs to undertake skill development training programmes can help narrow India's yawning skill deficit. As things stand, less than five per cent of the country's workforce possesses formal vocational skills. In this context, engaging SMEs in skill development can boost the effectiveness of the government's Skill India initiative and also improve the competitiveness of the SME sector, which is India's second-largest employment generator.
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KITCO to launch programme to uplift micro, small and medium enterprises

The Economic Times, 13 September 2017

Consultancy major KITCO Ltd. is launching a programme to uplift MSMEs to make them competitive, as part of its 45th year anniversary celebrations. The programme will help address the issue of shortage of funds often faced by MSME sector. In the first phase, ten enterprises operating in various sectors will be selected under the programme.
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Fund for lending to SMEs to be ready in 5-6 months

The Indian Express, 13 September 2017

Mr Y M Deosthalee, former CMD of L&T Finance Holdings Ltd, indicated that over a dozen top executives of Indian firms are planning to create a fund that will lend exclusively to SMEs in the country. He said that the fund will be ready in the next five to six months.
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Google launches new feature 'Google My Business' to help Indian SMEs manage biz online

KNN, 8 September 2017

To help India's SME communities, Google has launched a feature titled 'Google My Business' for SME/business customers, which allows owners to manage the business listings from a simple, easy-to-access dashboard within Google Search. For this, owners are required to find their businesses on Google Search, complete and enhance listing, share photos and posts and see how many views they are receiving. According to Google India, more than 80% of people are searching the Internet to find local information.
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SME board fund-raising up 7-fold in 6 years

The Hindu Business Line, 7 September 2017

Small and medium enterprises have clambered onto the IPO bandwagon with alacrity: fund-raising activity through junior bourses has gone up by about seven times in the past six years. For small entrepreneurs, raising funds through the SME IPO platform yields dual benefits of increased capital availability on the one hand, and improved corporate governance on the other. Currently, 267 SMEs are listed on the NSE and the BSE. Some 81 of these companies are from Gujarat, followed by Maharashtra (76) and Delhi (22). In terms of sectors, SMEs from the construction, finance and investment, textile products, trading and computer hardware segments are among the top ones to hit the primary markets through this platform. A total of Rs2,458 crore has been raised so far by 267 SMEs.
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IndiaOnline.in Launches Jaipur Office to Support Rajasthan's SME Sector

Business Wire India, 7 September 2017

The IndiaOnline.in Network, India's largest online network of 475+ inter-linked websites, has announced the launch of its operations in the Pink City, Jaipur, with an aim to cater to the ever-growing & robust SMEs sector of Rajasthan. IndiaOnline.in is targeting bringing over 1000 SMEs from Rajasthan under its marquee GETONLINE initiative within this year. The GETONLINE initiative of the IndiaOnline.in Network aims to equip each & every SME of the country with Website & Digital Marketing Solutions and educate them on how to grow their business using online tools & solutions. The Network will power Rajasthan with its dedicated portals namely www.RajasthanOnline.in, www.JaipurOnline.in, besides others for all major cities & towns of the state. The company also has regional Channel Partner offices in over 15 locations of the country including Agartala, Ahmedabad, Bhubaneswar, Guwahati, Gorakhpur, Hyderabad, Kochi, Kolhapur, Pimpri Chinchwad, Raipur, Sangli, Tinsukia, Vijayawada and Visakhapatnam and is headquartered at New Delhi.
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Summit set to increase SME business ties between UAE and India

The National, 5 September 2017

Giving Emiratis the confidence to "pitch camp" in India by investing in medium-sized projects such as housing and leisure tourism is the focus of initiatives being pursued by both nations ahead of a India-UAE Partnership Summit to be held from 30-31 October 2017 in Dubai. Dr Azad Moopen, Aster DM Healthcare's chairman, said the aim was to help Emirati businessmen understand the market in the sub-continent. Small and medium-sized enterprise projects ranging from 10 to US$50 million are likely to be showcased at the two-day summit, which aims to bring together ministers, government officials, industry leaders and investors from both countries.
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IFC Invests $10 million in Power2SME

The Economic Times, 5 September 2017

The IFC (International Finance Corporation) the private investment arm of the World Bank has invested $10 million as equity in Power2SME, an e-commerce platform that helps small and medium companies buy raw materials at bulk prices. In addition to the investment, IFC will also advise Power2SME to help it expand beyond its current 14 states, improve its ability to provide working capital to SMEs by adding more banks as partners, and increase the number of users on its platforms by up to 10 times in five years. Power2SME is backed by venture capital firms such as Kalaari Capital, Accel Partners, and Inventus Capital.
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Online tools helping Indian SMEs sell products globally: Facebook

The Economic Times, 6 September 2017

While 43 per cent of Indian exporters in SMEs (small and medium sized enterprises) depend on online tools for 75 per cent of their international sales, 63 per cent agree that using online tools for selling internationally has increased their revenue, a new survey by Facebook revealed on 6 September 2017.
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Gujaratis rule SME platform, Delhiites at rock bottom

The Economic Times, 29 August 2017

Gujarat-based SMEs (small and medium enterprises) are turning bullish on raising funds through SME exchanges. This could be gauged from the fact that out of total 72 SME IPOs (initial public offers) launched in 2017 so far, Gujarat has churned out 31, which is the highest from any state. Gujarat is followed by Maharashtra with 22 SME IPOs and Rs 257.10 crore of fund mobilisation. Rajasthan and Madhya Pradesh have seen four each IPOs hitting the market and Delhi three in 2017.
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DIPP to release new industrial policy by October, will review FDI Regime

Mint, 30 August 2017

The DIPP (Department of Industrial Policy and Promotion) under the commerce and industry ministry will release a new industrial policy by October 2017 that will focus on encouraging Indian branded products with higher value addition and will review the existing foreign direct investment policy regime to facilitate greater technology transfer. DIPP has adopted a consultative approach for formulating the industrial policy by setting up six thematic focus groups and an online survey on the department's website to obtain inputs.
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Secretary - SAMEEEKSHA, Industrial Energy Efficiency Division,
TERI, Darbari Seth Block, IHC Complex, Lodhi Road, New Delhi 110 003, India
Tel: +91 11 2468 2100, 2468 2111 | Email: sachink@teri.res.in