India and the UK have implemented their landmark Free Trade Agreement from July 15, reducing tariffs on a wide range of goods. The deal is expected to boost bilateral trade, exports, investments, and consumer benefits in both countries. Highlights The India-UK Free Trade Agreement (FTA) officially came into effect on...
Digital portals, AI adoption and quality-focused growth to strengthen India’s MSME ecosystem and accelerate the journey towards Viksit Bharat 2047. Key Highlights News Story New Delhi, June 27: Vice-President C. P. Radhakrishnan on Saturday said India’s vision of becoming a developed nation by 2047 will be driven by a strong...
The Interest Equalisation Scheme (IES), a lifeline for India’s MSMEs, offered a 2–3% interest subsidy to counter high borrowing costs of 8–12%, enabling exporters to compete globally against nations like China and Vietnam, where rates are 2–4%. Ended on December 31, 2024, its absence threatens MSMEs, who drive 45.7% of...
The MSME sector is a vital pillar of India’s economy, driving GDP growth, employment, and exports. Its GDP contribution increased from 29.7% in 2017-18 to 30.1% in 2022-23, while exports surged from ₹3.95 lakh crore in 2020-21 to ₹12.39 lakh crore in 2024-25. The Government of India has launched various...
India is making a decisive push towards industrial self-reliance with the launch of the National Manufacturing Mission, unveiled in the Union Budget 2025-26. With manufacturing contributing only 16-17% to GDP, far below global benchmarks, this initiative aims to scale up domestic production, reduce import dependency, and integrate India into global...
SIDBI has introduced its first-ever MSME Outlook Survey, analyzing business sentiment for the October-December 2024 quarter. Covering 1,200 MSMEs across manufacturing, services, and trading, the survey evaluates key parameters such as sales growth, profitability, employment trends, and financial access. Key findings suggest strong business confidence, particularly in the manufacturing sector,...
On the occasion of Vishwakarma Jayanti, Prime Minister Shri Narendra Modi virtually inaugurated the PM Vishwakarma scheme simultaneously at seventy different locations across the country. This initiative is designed to offer financial assistance and to enhance the skills of traditional artisans and craftsmen. Under the scheme, the artisans and craftspeople will...
A majority of small and medium enterprises in a survey by Capterra India, expressed preference for more government funding initiatives to support the digitalization process. Cyber-security issues, integrating new technology with existing technology and lack of expertise to implement digitalization have been highlighted as major barriers to digitalization. Image Source:...
Over 300 million people utilise the internet, and this expanding user base is propositional to the expansion of trade in India. Along with the mass presence of physical retail stores, Indian business owners began opening internet stores. In order to get a foothold in the Indian market, many SMEs are...
The contribution of MSMEs to India’s merchandise exports has shown a downward trend in recent years, even as their export value has demonstrated a noteworthy increase. Moreover the current slowdown in trade is expected to enhance their working capital requirements. Are these companies prepared? Image Source: Shutterstock Micro small and...
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