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Vol III, Issue 31: April 1, 2013 Activities   News   Reader Reactions   Members   Contact     Print Version  

President's Message

President on Hong Kong Visit

"A world hospitality experience

apart, what was most amazing in

Hong Kong was the attention paid

by various civil servants and other

officers during the meetings in

explaining their activities with gusto.

The most remarkable observation

for me was the fine balancing the

Hong Kong does in pursuing a truly

capitalist economy -with greater

freedom to markets than in the

United States and European Union-

on one hand and being part of

People’s Republic of China, a

closed system on the other. There

are dichotomies galore and Hong

Kong is at its pragmatic best in

handling these. "

-Shri V.K. Agarwal, President FISME

Tax benefits prevent small businesses to grow: MSMEs

Activities

l Hong Kong Govt. invites FISME President

l FISME’s Memo to Cabinet Secretary on exports

l FISME participated to scale up MSMEs further

Business Banter: Lessons from Entrepreneurs

l Hire excellence-Prashant Tandon, MD and co-founder, Healthcart.com

Macro Metre

l Exports slowdown is spelling serious problems for country finances

Domestic Digest

l Govt approves 6 FDI proposals worth over Rs 732 crore

l Sports goods industry seeks withdrawal of excise duty

State Scan

l KVIC to promote Khadi for creating jobs in J&K

l Maharashtra Budget has limited scope for MSME sector

World Watch

l Budget 2013: SMEs freed from jobs tax

Knowledge Store

l Finding silk & spice routes to national honour

...And A Lot More

Hong Kong Govt. invites FISME President

FISME’s Memo to Cabinet Secretary on exports

Mr VK Agarwal President

FISME visited Hong Kong

a n d h e l d a s e r i e s o f

meetings with counterpart

institutions and related

depa r tmen ts o f M ic ro

S m a l l a n d M e d i u m

Enterprises (MSMEs). He

was officially invited by

Government of Hong Kong

Special Administrat ive

Region (HKSAR) from March 10-16, 2013. Apart from meeting Members of

Legislative Council of Hong Kong and Consul-General of India, among the key

institutions Shri Agarwal visited include Government departments such as

commerce and economic development (commerce and industry), and its

bureau; financial services and the treasury bureau; department of justice; central

policy unit; trade and industry department; independent commission against

corruption; Hong Kong productivity council; Invest Hong Kong; Hong Kong Trade

Development Center and Hong Kong Small and Medium Enterprises Centre.

   

Insights: Business climate and

opportunities in Hong Kong

Alarmed by falling exports and widening Current

Account Deficit (CAD) - gap between imports and

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According to The FISME Factor

survey, 56 per cent of MSMEs say

that tax benefits prevent them to

grow into big company therefore,

encourage them to remain small.

Prepare people for new

responsibilities before

promoting them

Finance Fundamentals

Bagging a business loan

Banking activities can be traced to ancient civilizations

Marketing Mantras

Entrepreneurs should follow an outcome-based pricing

model

HR Heuristics

For every job you need a set of

skills and these cannot be

absorbed through osmosis. Yet

we promote people without

preparing them to take the job and

expect them to do the job brilliantly.

Read the full article

Public sector banks seem to offer

the best deals, though they may

not be quick to disburse the loan.

Read the full article

Modern investment methods have

roots going back hundreds,

sometimes thousands of years.

Read the full article

FISME participated to scale up MSMEs further

exports, Mr Ajit Kumar Seth, Cabinet Secretary to

Government of India, held discussions with apex

industry associations, including FISME, to formulate a

strategy to increase exports growth. Besides Cabinet

Secretary, Finance Secretary, Secretary of Department

of Commerce, Secretary Department of Industrial

Policy and Promotion (DIPP), Secretary Micro Small and Medium Enterprises,

Secretary Textiles, Directorate General of Foreign Trade (DGFT) and Additional

Secretary, MSME were also present. Mr Neeraj Kedia, past President of FISME,

focused on the continued deterioration in business environment reflected by

India’s ranking in World Bank’s Ease of Doing Business report.

Read More    

Mr Satish Gottipati, Central

Execu t i ve Commi t t ee

Member and In-Charge for

Andhra Pradesh, FISME,

was invited as a speaker

for the inaugurat ion of

Center of Excellence for

Micro Small and Medium

E n t e r p r i s e s ( M S M E )

Studies in a seminar held

on March 15 , 2013 a t

Vignana Jyothi Institute of

Management (VJIM), Hyderabad. Delivering his speech on the topic of the

Seminar ‘Scaling up of MSMEs: Issues and Prospects’, Mr Gottipati explained

the significance of MSMEs for any economy and particularly for India. He also

detailed key statistics that explain the contribution of MSMEs to the Indian

Economy.

Read More    

Do you think the inter-ministerial committee formed for acceleration of

manufacturing growth will make a positive impact at ground?

Yes No

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Submit

‘The Best Advice I Got’

Hire excellence

-Prashant Tandon, MD and co-founder, Healthcart.com

Vision cannot be hired - this was the advice Prashant Tandon, managing

director and co-founder, Healthcart.com got from his professor at Stanford

University. One can hire a lot of people who can drive business well and

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Four fundamentals to walk the entrepreneurial journey

the successful way

Policy Polemic

Priorities skewed in solar power

Success Story

Finding silk & spice routes to national honour

By March 31 this year, every brand

and business owner should

already be demanding this. And

halt contracts if they are denied

this privilege.

Read the full article

Entrepreneurship is about

transforming the world with ideas

and then converting those ideas

into wealth and jobs. "It is about

bringing ideas into existence that

don't exist," explains NR Narayana

Murthy, Chairman Emeritus,

Infosys.

Read the full article

Rather than rush into an anti-

dumping dispute with US and

China to protect solar panel

makers, India should boost

domestic demand.

Read the full article

Let’s raise a toast to this self-

made entrepreneurs before the

President does in New Delhi on

April 3, 2013.

Read the full article

Stockpile

India’s Balance of Payments

during the Third Quarter

(October-December 2012)

Read the full Text  

India’s External Debt at end-

December 2012

Read the full Text  

Quotable Quotes

probably execute a lot better. However, as an entrepreneur, a key role is to have

a vision for the venture, articulate that vision and motivate the team to follow

that path with passion. One must also articulate it to external stakeholders. The

vision should be inculcated in the leadership team. It is not something that can

be hired. It has to be built, through every action, decision and day-to-day

conduct of the leadership. As a leader, one needs to find the right team, which

can not only build a great product or strategy but also attract a great group of

people who can actually realise the vision.

[Adapted from the Best Advice I Ever Got, Business Today]

Macro Metre

Fiscal deficit touches 97.4% of Budget Estimates

Trade deficit nears USD 200 billion

Domestic Digest

High level Govt panel to help MSMEs tackle slowdown

Sterlite employees seek reopening of plant

Adding further to government’s worries, its fiscal deficit touched 97.4 per cent of

the Budget Estimates (BE) in the April-February period, indicating that the

government needs to tighten it purse strings further. According to data released

by the Controller General of Accounts (CGA) recently, in absolute terms the

fiscal deficit or gap between expenditure and revenue receipts stood at over

`5.07 lakh crore at the end of February.

Read Details   

Union Minister of Commerce, Industry and Textiles Anand Sharma recently said

that the country’s exports may not even reach last year’s numbers of $306

billion. Chairing the Board of Trade (BoT) meeting here, Sharma said, “What is

very disturbing and challenging both is that we have not even reaching where

we were a year before that is $360 billion.” What is more worrying is the surging

current account deficit (CAD) or trade deficit, which is likely to widen further

between $193 billion and $196 billion.

Read Details   

Exports slowdown is spelling serious problems for country finances

Decline in merchandise exports mainly observed in items like engineering,

petroleum products, textiles and iron ore have led to a situation where India is

facing a major problem in financing its current account deficit (CAD) which

touched a record high 6.7 per cent of the country’s GDP in the third quarter of

the financial year 2012-13. The problem with serious implications on the

movement of rupee in the foreign exchange market and is expected to bring

further anxiety in the stock market, has mainly arisen from almost no growth in

merchandise exports but 9.4 per cent expansion in imports, driven mainly by

oil and gold imports according to the latest data released by the Reserve

Bank of India recently.

Read Details   

Government today announced setting up of an inter-ministerial committee

which will come out with concrete policy measures to accelerate manufacturing

in the Micro Small and Medium Enterprises (MSMEs) which are facing rough

weather in the face of economic slowdown. The high level committee is being

chaired by Secretary, Department of Industrial Policy and Promotion (DIPP),

Saurabh Chandra, according to an official statement. In the wake of widening

trade deficit and decline in merchandise export in items like engineering,

petroleum products, textiles and iron ore, a meeting was organised by the

Ministry of Commerce, Industry and Textiles earlier this month where the

Cabinet Secretary Ajit Seth reviewed and interacted with the stakeholders

regarding exports of goods from the MSME Sector.

Read More   

A r o u n d 2 , 0 0 0 p e o p l e , i n c l u d i n g

employees and contract workers of the

Sterlite Copper, along with their family

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" Making steel may be compared

to making a 'chappati'. To make a

good chappati, even a golden pin

will not work unless the dough is

good. "

-Jehangir Ratanji Dadabhoy Tata,

former Chairman of Tata Group

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Govt increases budgetary support to MSMEs to compete with China

SMEs receive concession for registering chemicals

CARE launches 'fundamental grading' of SMEs

members took out a silent procession to

the District Collector's office in Tuticorin

on Sunday to submit a petition seeking

reopening of the company, which is

closed on Friday night. The closure

order was issued following emission of sulphur dioxide from the Sterlite plant in

the early hours of March 23. A show cause notice was served on the company

by district administration the next day.

Read More   

The government has approved budgetary support of Rs 24,124 crore to Micro

Small and Medium Enterprises in 12th plan (2012-17), a significant increase

from previous plan allocation, amidst stiff competition faced by the sector from

China. “The Gross Budgetary Support (GBS) for the 12th Plan (2012-17) of the

Ministry of MSME has been approved at Rs 24,124 crore by the Planning

Commission. These schemes and programmes help MSMEs grow, increase

their competitiveness and consequently exports”, an official said. The budgetary

support during 11th Five Year Plan was Rs 9,175 crore which has been raised

by 162.93 per cent during the current Plan.

Read More   

Govt approves 6 FDI proposals worth over Rs 732 crore

The government recently approved 6 FDI proposals, including that of AirAsia

Investment Ltd., Malaysia and SIDBI Social Venture Trust totalling over Rs 732

crore. The Rs 80.98 crore proposal of AirAsia Investment Ltd, Malaysia, to set

up a Joint Venture company to undertake the business of operation of

scheduled passenger airlines, was given approval by the Foreign Investment

Promotion Board (FIPB) headed by the Economic Affairs Secretary Arvind

Mayaram. The Board also cleared the proposal of SIDBI Social Venture Trust,

to allot Class A units of the Fund to bring foreign investment worth Rs 285

crore.

Read More   

The European Commission has lowered the fees and charges that small and

medium sized enterprises (SMEs) have to pay to register chemicals. The move

should help SMEs that produce or trade chemicals to remain competitive during

the current difficult market situation. Depending on the size of the company,

SMEs could benefit from reductions ranging from 35 per cent to 95 per cent in

relation to standard registration fees, and from 25 per cent to 90 per cent in

relation to standard fees for authorisation requests.

Read More   

Sports goods industry seeks withdrawal of excise duty

Perturbed over f lat growth in the

domest ic marke t fo r the second

consecu t i ve year , spor ts goods

manufacturers, a majority of which are

in the mic ro , sma l l and med ium

enterprises (MSME) sector, want a

withdrawal of excise duty on the lines

of that granted to the ready-made

garments industry. Finance Minister P

Chidambaram had exempted ready-made garments from excise duty in the

recent Budget. Pran Chadha, managing director of Jalandhar-based

Universal Sports Industries, told Business Standard: "Our sales in the

domestic market have been flat over the last two years, due to the imposition

of excise duty in the 2011-12 Budget. So, in order to give the industry a boost,

the government must exempt it from the ambit of excise duty. In this regard,

we met the Union MSME secretary, the Union revenue secretary, and also

Union Law Minister Ashwani Kumar, and apprised them of the current

scenario." Chadha is a member of the Sports Goods Manufacturers &

Exporters Association.

Read More   

SMEs with better business fundamentals may find it easier to raise funds

through the SME platform at stock exchanges in NSE and BSE after a new

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FISME regularly receives monthly

reports on the economies of

various countries from their

missions in India. These reports

provide information on key

economic parameters, trade

related information and all news

relevant for importers and

exporters. In this edition you can

take a look at reports on:

Canada

Egipt

SIDBI VC to invest Rs 150 cr of SME Growth Fund

Small-scale units promised help to step up exports

BSE emerges market leader in SME segment

SISPA appeals to CCI to ensure quality cotton supply

‘Collateral free credit for MSMEs’

Starting business in India is a challenge: Adi Godrej

grading system has been launched for them by Credit Analysis and Research

Limited (CARE ratings). “Indian Small and Medium Enterprises (SME) have

traditionally been facing a constraint of lack of adequate and timely finance. With

the introduction of SME platform at stock exchanges, BSE SME Exchange and

NSE Emerge, the SMEs are now able to raise equity capital through listing at

these platforms where relaxed SEBI guidelines are also applicable. With this

development, it was important to classify the entities with better business

fundamentals for taking a long term investment view. This product is expected

to fill this gap,” said a press release from CARE.

Read More   

SIDBI Venture Capital Fund, a subsidiary of Small Industries Development Bank

of India (SIDBI), is planning to invest about Rs 150 crore of SME Growth Fund in

the next 3-4 months. “Of the first disbursement (by the government) of Rs 500

crore, we have already committed Rs 350 crore,” SIDBI Chairman and

Managing Director S Muhnot said. Remaining Rs 150 crore would be utilised in

the next 3-4 months, he said. The bank’s first SME Growth Fund was set up a

corpus of Rs 500 crore to invest in small and medium industries.

Read More   

Cabinet Secretary Ajit Seth has assured the micro, small and medium

enterprises (MSME) that the Government would soon take steps to increase

exports from the sector. In a review meeting of the export scenario that focussed

on the MSME sector, Seth said that small enterprises were the backbone of the

country and needed to be encouraged. The Cabinet Secretary said that he

would form two-three groups to look at ways suggested by the industry to

increase exports from the MSME sector and would hold another review meeting

with other Secretaries in three weeks to see what could be done quickly.

Read More   

The country's premier stock exchange

BSE Ltd has said that it has emerged as

the market leader in SME segment with

more than 90 per cent market share. In

the last one year since the launch of the

SME plat form, 17 companies were

l i s ted , wh i le n ine more are in the

process of listing their shares by March

31 this year. "BSE has emerged as the

market leader in SME segment with more than 90 per cent market share in this

segment. With innovations, technology, investor focus, good services and

higher wealth creation, SMEs and investors in SME are preferring BSE SME

platform," BSE MD & CEO said Ashishkumar Chauhan told PTI recently.

Read More   

The South India Spinners Association (SISPA) has appealed to the Cotton

Corporation of India (CCI) to ensure adequate supply of quality cotton at a

stable price to the domestic industry throughout the year. SISPA President K

Thirunavukarasu has in a communication to the Chairman of CCI explained the

precarious position of the mill sector in the aftermath of the spiralling price of

cotton.

Read More   

Are you an entrepreneur with “feasible business plan”? Collateral free credit is

up for grabs for start-ups, expansion plans, technology up-gradation, working

capital or diversification thanks to the Credit Guarantee Fund Trust for Micro and

Small enterprises scheme of the Union Government and the Small Industries

Development Bank of India. This was revealed at a workshop organised by Dun

& Bradstreet India and the SBI here on Saturday with focus on the Ongole

Granite cluster.

Read More   

Godrej group chairman and president of

the Confederation of Indian Industry (CII)

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A d i G o d r e j r e c e n t l y s a i d t h e

entrepreneurial environment in the

country was inadequate ly geared,

part icularly for start ing a business.

Speaking at the southern region meet of

the CII, Godrej said the conditions for

e n t r e p r e n e u r s h i p a n d s m a l l a n d

medium enterprises (SMEs) needed to be improved for the sake of growth in

economy and employment opportunities.

Read More   

Andhra Pradesh    

AP Judicial Academy to support MSMEs on legal issues

Jammu and Kashmir    

KVIC to promote Khadi for creating jobs in J&K

Karnataka    

Rs. 4,692-crore credit plan for Mysore district

Kerala    

Failures cannot be justified on MSME lending

The Andhra Pradesh Judicial Academy is open to helping and supporting the

cause of micro, small and medium sized (MSME) enterprises, acting Chief

Justice of Andhra Pradesh, Justice N.V. Ramana, said. Addressing a meet

recently in Hyderabad, he said the Judicial Academy is open to serve the

industry, especially the small-scale industries to provide them with the required

legal support for establishing and strengthening their businesses. The Judicial

Academy is equipped to train the industry officials on various judicial issues.

Read Details   

Khadi and Village Industries Commission recently said it would try to generate

more employment opportunities in Jammu and Kashmir and some strife-torn

North-Eastern states by promoting the production of the hand-woven cloth.

"Kashmir and some other North Eastern states, hit by terror-related activities,

are being given a special attention by KVIC while promoting khadi production.

We want to engage youths in the process of productive performance, instead of

letting them fall prey to the extremists groups," said KVIC chairman Devendra

Desai.

Read Details   

The District Credit Plan for Mysore for

2013-14 envisages an outlay of Rs.

4,692.6 crore, an increase of Rs. 835.78

crore (21.67 per cent) over the current

financial year’s (2012-13) outlay. The

credit plan prepared by State Bank of

Mysore, the Lead Bank of the district,

was released by Deputy Commissioner

C. Shikha in Mysore recently. The plan is expected to cover 4.36 lakh

beneficiaries and the priority sector, comprising agriculture and allied activities,

self-employment, education and housing, accounts for Rs. 3,802.6 crore. Out of

this, agriculture has been apportioned Rs. 1,736.4 crore.

Read Details   

The SFCs Act was enacted in 1951 to establish financial corporations in States

as a catalyst for development of SSI units (now micro, small and medium

enterprises or MSME sector). A major amendment to the Act in 2000 gave wider

powers to SIDBI along with the inherited supervisory role and more functional

freedom to SFCs. Failures with SFCs cannot be justified by arguing that they are

meant to serve the vulnerable MSME sector with development intent. This is

because there are ample cross-subsidisation opportunities available, says

Manmathan Nair.

Read Details   

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Maharashtra    

Maharashtra Budget has limited scope for MSME sector

Tamil Nadu    

Revenue-surplus budget again

West Bengal    

Bengal needs to focus on MSMEs

Textile for industrial use, tobacco products, gold and silver will cost more as the

Maharashtra government in its annual budget for 2013-14 has increased sales

tax on these items. However, rice, wheat, pulses, flour, turmeric and chillies

have become cheaper with exemption in duties. “Tax on cigarettes will be

raised from 20 per cent to 25 per cent and bidis from 5 per cent to 12.5 per cent.

While 12.5 per cent tax on branded tobacco sold in pouches will remain

unchanged, unmanufactured tobacco, which was hitherto tax free, would be

taxed at 12.5 per cent,” said Deputy Chief Minister of Maharashtra, Ajit Pawar

who also holds the Finance portfolio, while speaking in the state assembly.

Read Details   

Presenting a revenue-surplus budget for

the third time in a row, the All India Anna

D r a v i d a M u n n e t r a K a z h a g a m

government recent ly re i terated i ts

emphas i s on t he p r imary sec to r ,

i n f r a s t r u c t u r e d e v e l o p m e n t a n d

allocation for social sector, even while

adhering to fiscal prudence in its budget

for 2013-14. Despite the State feeling

the pinch of the economic slowdown, severe drought and power shortage, the

government announced new initiatives in agriculture; Rs. 2,000 crore for

Infrastructure Development Fund; packages for micro, small and medium

enterprises as well as promotion of industrial growth in southern districts and

stepped up expenditure in the social sector.

Read Details   

Days after reportedly quitting as adviser over alleged difference with Chief

Minister Mamata Banerjee, Trinamool Congress (TMC) MP Saugata Roy

recently said the state needs to focus on medium and small scale industries

industries due to paucity of land for heavy industries. "In the context of less

availability of land for industries (heavy industries), the government's intention is

to focus on development of medium and smal l scale industr ies and

enterprises," Roy said at a seminar of a chamber of commerce in Kolkata.

Read Details   

Ireland    

SMEs waiting five weeks for loan decision

Thailand    

Thailand set to extend funding for export-oriented SMEs

More than half of all loan applications

made by smal l and medium s ized

enterprises (SMEs) in the last three

months have been decl ined by the

banks, a new survey has found. In the

latest quarterly bank watch survey,

business lobby group Isme said some 52 per cent of businesses were refused

credit by their banks. Of the firms that applied for credit facilities, 65 per cent

said the banks were making it more difficult to access finance, with 40 per cent

of companies reporting an increase in bank charges. Some 95 per cent said

the Government was having either a negative or no impact on SME lending.

Read More    

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United Kingdom    

Budget 2013: SMEs freed from jobs tax

Unites States    

Twitter gives SMEs more advertising options

The Thai government is continuing to provide financial backing for export-

oriented, small- and medium-sized enterprises as well as indigenous industry

so their products will increase in both volume and value and contribute to

national economic growth. Addressing an audience of hundreds of government

officials and businesspersons at a hotel in the capital on Monday, Lady Prime

Minister Yingluck Shinawatra reassured that her government will see to it that

the SMEs and so-called OTOP (one-tambon-one-product) home-made industry

wil l be substantially promoted and given financial support from varied

government banks so they will deliver more goods to the export markets and

help increase the country's gross domestic product.

Read More    

Every company in the UK will be able to

wipe up to £2,000 from their National

Insurance Contributions through the so

called 'Employment Allowance”. The

Government said the move, which will

be launched next April, will mean that

some 450,000 bus inesses w i l l no

longer have to pay any “jobs tax”. George Osborne described it as the “largest

tax cut in the Budget”. The move was the biggest surprise of yesterday’s speech

as the Chancellor looked to demonstrate that he can deliver the tax cuts

business has long called for despite the parlous state of the country’s finances.

Read More    

Twitter is beefing up its self-service ad

platform to give smaller businesses

more targeting and analytics tools to

reach potential customers on the site.

The changes are twofold. First, self-

service advertisers will have a wider set

of options at their disposal to target

certain types of people on the social

network. Second, advertisers will have access to Twitter’s advanced interface,

which boasts deeper campaign controls and more detailed reporting and

analytics data. The new features are currently available only to U.S.-based

businesses, with international expansion to commence later this year, Twitter

said recently in a blog post.

Read More    

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Business Opportunities for India in Srilanka

Business Opportunities for India in Turkey

There are business opportunities available for Indian companies in Srilanka.

The interested MSMEs can check details.

Read Details    

There are business opportunities available for Indian companies in Turkey. The

interested MSMEs can check details.

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Read Details    

3 New Members Join FISME

During the period from March 15, 2013 to March 31, 2013 a total of 3 new

MSMEs became member of FISME.

Read Details    

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