CII has states that Information Technology is very helpful in bridging the gaps between MSMEs and large companies. According to the CII (Confederation of Indian Industry) survey, Information Technology had changed the fortunes of the SMEs in India. It has…
SME Pharma Exporters Oppose Mandatory Implementation of Barcoding
Indian small and medium size pharma companies account for 40% of total drug exports. SME Pharma Industries Confederation (SPIC), which has 3,000 pharma exporters, has opposed the order of Director General of Foreign Trade (DGFT), which says that there should…
Rising Input Cost and Liquidity Crunch – Hurdles for Growth of SMEs
According to the survey conducted by Indiamart.com (web portal of SMEs), increasing input costs and liquidity crunch are becoming barriers for growth of SMEs, especially for those involved in apparel business. According to the survey, over 50% of the respondents…
PSU’s Opting for Local Procurement to Boost Ancillaries
Four major PSU’s of Orissa state have increased their procurement of various items of necessity from different local ancillaries. This was revealed in the Plant Level Advisory Committee Meetings (PLAC). These PSU’s are NALCO (National Aluminum Company Limited), HAL (Hindustan…
Favorable Procurement Policy for Indian SME Sector: CII
According to the CII (Confederation of Indian Industry), by the introduction of preferential procurement policy, the problems and challenges faced by Indian MSME’s, such as lack of financial and structured markets, delayed payments from large customers, low resources availability and…
Government of India to Allocate Rs.2,500 Crore Technology Upgradation Fund For MSMEs from 2012
According to the Ministry of MSMEs, the Government of India has decided to allocate Rs.2500 crore technology upgradation fund for MSME sector. This fund will be created next year when the 12th Five-Year plan starts. This fund will help the…
ICT Tools for Indian MSMEs to Increase Efficiency in the Business
It is found that the micro, small, and medium enterprises (MSMEs) in India are still shying away from using Information and Communication Technology (ICT) tools to introduce efficiencies. Most of the MSMEs like play schools, business partners, florists and many…