SME

Flipkart enables up to Rs 5 crore credit for its MSME sellers; offers order payments in advance

Flipkart said it automatically redirects the interested sellers from its portal to a lender’s portal for faster processing of applications and improving sanction and disbursal timelines.

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AEPC to PM Modi: Declare apparel exports as essential services, exempt exporting units from lockdowns

AEPC Chairman Dr A Sakthivel said that if the apparel exporters lose customers now, they might never come back in the near future while failure to execute these orders might lead to a long-term loss f

The largest markets for India's agricultural products are the US, China, Bangladesh, UAE, Vietnam, Saudi Arabia, Indonesia, Nepal, Iran and Malaysia.

Nearly 60% Covid-hit startups, MSMEs may scale down, shut down, or sell themselves in 6 months: Survey

While the government had earlier this month provided a late fee waiver for filing GSTR-3B monthly returns for March and April and reduced interest rates for late payments, MSMEs and startups wanted no

Gross NPAs of banks likely to decline in FY21 amid MSME schemes, restructuring, write-offs: CARE Ratings

Despite a challenging year (FY21), the quantum of gross NPAs of scheduled commercial banks (SCBs) is expected to decline by the end of March 2021 as compared with the previous year due to write-offs,

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ECLGS: How MSMEs can get collateral-free loan, what’s eligibility criteria, moratorium offered, other details

Loans under ECLGS 1.0 have a tenor (maximum period of guarantee cover) of four years from the date of disbursement and five years under ECLGS 2.0.

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Logistics SaaS startup FarEye raises $100 million in fresh funding

The investment, part of the company’s Series E financial round, also saw participation from existing backers Eight Road Ventures, Fundamentum and Honeywell.

In August last year, the company had raised $13 million as an extension to its series D round.

Flipkart hired 23,000 fresh staff during March-May

The addition of jobs comes at a time when consumers across the country are banking on e-commerce platforms to shop for products across segments, including essentials and daily purchases.

Kalyan Krishnamurthy, chief executive officer, Flipkart Group, said, “We are focused on ensuring that our users across India have access to a wide range of quality products made available by brands and sellers on our platform.

‘SC ruling to hold personal guarantor liable in insolvency cases to strengthen MSMEs’ credit discipline’

The judgment will also encourage the promoters to use the pre-pack regime for MSMEs to find resolutions acceptable to the creditors and strengthen credit discipline across the debt market.

One should not get dissuaded by the number, but must stay focused on the long-term benefits that the IBC will yield.

Tiger Global-backed neobank Open registers 1 million SME users so far; adds 60,000 per month

The concept of neobanks has picked up globally on the back of increased digitization of banking services and lesser time spent on key tasks by customers which otherwise cannot be catered by legacy-bas

In fact, some of them said the absence of a trusted payment gateway would affect their buying decision to a great extent.

Desperate times: MSMEs seek home delivery of all goods among recommendations to govt to sustain livelihood

MSMEs in multiple sectors viz., retail, aviation, hospitality, and others, which were among the worst hit due to Covid last year, had neared the pre-pandemic level recovery before the second Covid wav

DMK MP Veeraswamy writes to MSME Min Nitin Gadkari; suggests way to fill ‘huge gap’ in MSME database

The last survey involving MSME count was the National Sample Survey (NSS) 73rd round conducted by the National Sample Survey Office during FY16 that recorded 6.33 crore unincorporated non-agriculture

Banking tech start-up Zeta turns unicorn with $250 million funding from SoftBank

Zeta plans to deploy the capital to fuel its growth in India, US and Europe. Bulk of the proceeds will be used to scale its operations, team, and platform to meet the demands of an expanding customer

Manappuram Finance subsidiary Asirvad Microfin raises $15 million in ECB from WBC

The loan availed under India’s ECB norms will enable Asirvad to expand its business of providing small loans to low-income women business owners in rural areas to start and expand their businesses,

Manappuram Finance took over the Chennai-based company in February 2015, and at present has a 94.78% stake.

FlexiLoans partners with Vivriti Capital to disburse Rs 300 crore loans to MSMEs

FlexiLoans said that the partnership has targeted reaching out to over 10,000 MSMEs in the next 12-18 months.

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Sales Spurt: E-commerce firms press pedal on hiring across functions

Sivaram said there has been a 15% jump in the demand for management information specialists over the pre-pandemic period. Customers, he added, were also looking for CAD designers, those manning IT hel

HAN Digital estimates there has been more than a 27% year-on-year increase in active jobs in the technology segment of e-commerce tech during January-March.

‘It’s high time India creates systematic, periodic database of MSMEs, given latter’s employment potential’

Till recently, we used to have annual estimates for the number of enterprises, employment, production, and exports of MSMEs (for the sector and nation as a whole) from the Ministry of MSME, which are

Small businesses seek no penalty and interest relaxations on GST late payment, return filing till June

For taxpayers having up to Rs 5 crore in turnover in the preceding financial year, a 30-day period was given by the government earlier this month to file their 3B returns for March and April from thei

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Lack of succession planning greatest long-term risk to Indian MSMEs, say experts

Amid changes in the overall business environment over the past few years in India such as demonetsation, GST implementation, Covid pandemic, economic downturn, etc., the need for succession planning i

textile industry

More MSMEs get CMERI’s technology to ramp up production of OEU devices generating medical oxygen

OEUs concentrate oxygen from the air by selectively removing nitrogen to supply oxygen-enriched air. The concentrated oxygen is then delivered to the patient with breathing-related problems through an

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DST invites applications from startups for developing new technologies, innovative products

Promising startups will be provided with financial and mentoring support for scaling up their products or technologies to the next level and speeding up their processes, helping them reach the product

"Development and manufacturing (import substitution) of the products parts currently being imported for the devices like oxygen concentrators would also be considered for seed support through the DST supported-network of Technology Business Incubations (TBIs)," it said.

Staying ahead of digital curve: How MSMEs can be at forefront of new age tech adoption, fend off roadblocks

Technology for MSMEs: Every sector today realizes that there is no respite without digital adoption. The ones who miss the bus are sure shot to either perish or experience a torpid graph.

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Google eases online selling for small businesses on Shopify amid e-commerce push

Technology for MSMEs: Shopify had last year partnered with TikTok and Facebook as well to help its merchant base reach out to potential customers on the two platforms.

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Exclusive: SIDBI earmarks Rs 200 cr for MSME-focused Shwas, Arog schemes; sanctioned Rs 90 crore loans

Credit and Finance for MSMEs: SIDBI had launched the two schemes on April 30, 2021, envisaging funding up to an amount of Rs 2 crore to an MSME at an interest rate of 4.50 – 6 per cent per annum wit

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Govt asks e-commerce companies to appoint nodal officer for compliance with consumer protection rules

This new sub-rule, which has been included in the Consumer Protection (E-Commerce) Rules, 2020, has come into effect from May 17, according to a notification issued by the consumer affairs ministry.

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BSE-listed SMEs, startups to get access to buyers globally, training programmes, more via D&B’s solutions

D&B will also share its SME database and clients with BSE for latter to create awareness among SMEs and startups about the benefits of listing.

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Why Jeff Bezos, Mark Zuckerberg, Bill Gates backed Village Global funded this omnichannel fashion platform

India’s fashion segment is likely to be worth $16 billion in 2021 with apparel cornering $10.5 billion of the market, as per Statista. The revenue is expected to grow at a CAGR of 10.14 per cent lea

If e-commerce companies are allowed to sell non-essential commodities, then it will create an uneven-playing field for the traders whose shops will remain shut for compliance of the curfew orders in different parts of the country, he said.

CBIC brings job work under IGCR Rules; may help MSMEs operating without complete manufacturing facility

The importer has to utilise the imported goods or re-export them within a period of six months from the date of import, failing which the importer is liable to payment of duty with interest.

The largest markets for India's agricultural products are the US, China, Bangladesh, UAE, Vietnam, Saudi Arabia, Indonesia, Nepal, Iran and Malaysia.
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