MSMEs, sustainability and innovation to be key focus areas: Canon India’s Manabu Yamazaki
Manabu Yamazaki, President & CEO of Canon India asserts supporting SMEs and the startup ecosystem has been a core focus area of the Japanese MNC.
Manabu Yamazaki, President & CEO of Canon India asserts supporting SMEs and the startup ecosystem has been a core focus area of the Japanese MNC.
The development comes days after the department signed MoUs to attract a collective investment of 6,693 crore in food processing, leather and readymade garments in Kancheepuram and Chengalpet districts. Addressing an Investors' Conclave in the city on Wednesday, MSME minister T M Anbarasan said the investments will generate direct employment for 26,477 people.
In a notification on its website, the bank said the portfolio includes 91 MSME loan accounts with outstanding of between INR 3 crore and INR 10 crore. The bank has set a INR 274 crore reserve price which is 60% of the total outstanding, of which it expects at least half, or INR 137 crore, in cash.
The GO from the MSME department said that non-collection of peak hour charges till installation of the smart meters and reduction of network charges of rooftop solar connections by 50% to LT III-B category of consumers, largely comprising MSME units, was announced in the assembly by the minister concerned on October 10.
The major policies that are lined up for the launching include the Jharkhand Export policy, MSME, Start-up and Jharkhand IT Data and BPO promotion policy.
Also speaking at the event, NITI Aayog member Arvind Virmani highlighted the need for strengthening key areas such as labour-intensive supply chains, institutional factors for policy framing and simplifying taxation system, and integrating payment, refund and export credit systems especially for MSMEs.
Regulatory sandbox usually refers to live testing of new products or services in a controlled/test regulatory environment, for which regulators may (or may not) permit certain relaxations for the limited purpose of the testing.
The burgeoning middle class is relying heavily on the Open Network for Digital Commerce (ONDC) platforms that has led to India’s e-commerce valuation at USD 72 billion in 2022, and this is expected to surge to USD 325 billion by 2030. Here’s the tale of small businesses over e-commerce platform and challenges associated with them:
According to a press release by ADB, the Asia Small and Medium-Sized Enterprise Monitor 2023, unveiled on Tuesday, underscores key factors for enabling these businesses to thrive and contribute to inclusive and sustainable growth.
Further, he said in the past three years, Sidbi's lending to MSMEs doubled to cross the INR 50,000 crore-mark, while the system wide MSME loan book is INR 25 lakh crore, which is slated to double over the next three years. Of the present MSME book, only 28% are met by NBFCs.
In recent times, several developments in India have improved access to formal credit for MSMEs. The government has taken notable initiatives, such as the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme, which provides collateral-free credit guarantees to reduce the risk for lenders and make financing easier for MSMEs