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<keyword id="175632" type="UNKNOWN" weightage="20" keywordseo="MSME-sector">MSME sector</keyword> is one of the most neglected sectors with respect to public policy but has immense potential. It is because MSMEs are the backbone of any industrial economy. Across the world, most transformations have happened on the back of robust industrial sector, and MSMEs have played a critical role in these transformations.<br />
 <br /> In India, the <keyword id="6395867" type="UNKNOWN" weightage="20" keywordseo="manufacturing-sector">manufacturing sector</keyword> has been lagged behind and the government has envisaged an ambitious '<keyword id="6354869" type="UNKNOWN" weightage="20" keywordseo="make-in-India">Make in India</keyword>' program to give the sector a boost. The 'Make in India' program cannot do well without the MSME sector overall doing well because the sector, at present, provides employment roughly to one in 15 people in India and is responsible for roughly 45 per cent of India's exports. Despite all this, the sector remains highly troubled.<br />
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It is because there are several unique problems that the sector faces in India. Most of these emanate from the fact that roughly 95 percent of enterprises in the sector are still unregistered. It means these enterprises are outside the ambit of formal schemes and programs of the government.<br />
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For this, the government recently launched the Udyog Aadhar Scheme, which aims to register unregistered enterprises and bring them with the ambit of schemes and policies of the government. It is a major initiative and may help enterprises become part of the formal system.<br />
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The second issue is that the unorganized nature of the sector results in the lack of marketing support at the national and international level and lack of integration in the global value chains. It has resulted in restriction of goods and services to only local markets that results in loss of revenue to the people employed in the value chain of the overall network. A collaborative approach between the stakeholders of the MSME ecosystem can help in improving quality as well as give an access to markets for a large number of MSME enterprises.<br />
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The third major issue is the feeling of trust between an agglomeration of firms/enterprises and even between a firm and the government.<br />
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Firms feel that the government is taking information from them to get taxes or harass them rather than to build a database for helping the enterprises achieve their true potential. It is even seen in the last year's national innovation survey that saw a large amount of enterprises talking about government as a major barrier to innovation.<br />
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Also, another major problem is with respect to labour laws in the sector, which makes the firms perceive the government as a problem rather than as a helper/collaborator. The inhibition of trust has hampered and continues to hamper the growth of the MSME sector and the Indian economy.<br />
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Fourth is the issue of credit flow to the sector. The RBI has adopted the recommendations of the PM's task force on MSMEs in 2010 and continues to use it for schemes to benefit MSME sector, but the implementation of these by banks and benefits to the individual firms are seen as major challenges that are seen on the ground.<br />
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Fifth issue is innovation in the MSME sector. India's overall approach to innovation in MSMEs has been built around the idea that technology and R&amp;D are innovation. While technology and R&amp;D can be used to support or result in innovation, they are not innovation. Similarly, some government institutions and MSME sector are misaligned. It is because government CSIR labs produce technologies and R&amp;D that is very rarely taken up by the MSME sector. It makes R&amp;D and innovation in MSME's quite antithetical.<br />
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Finally, there are several institutions at the innovation level in the country that are simply defunct. These include institutions like the National Innovation Council and the National Manufacturing Competitiveness Council (NMCC) that are without the head of institutions at present. These should see appointments at the earliest or should be completely dismantled.<br />
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Over the next few decades a critical factor in making India competitive will be making MSMEs competitive. It will happen only when the government and firms resolve some of the issues mentioned here. A process driven and systematic approach to bridging the trust deficit will help MSME become more competitive.<br />
 <br />
(The article is co-authored with Sankalp Sharma, Senior Researcher at the Institute for Competitiveness, India. Amit Kapoor is Chair, Institute for Competitiveness &amp; Editor of Thinkers. The views expressed are personal. Amit can be reached at <a href="mailto:amit.kapoor@competitiveness.in">amit.kapoor@competitiveness.in</a> and tweets @kautiliya)<br />
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Here’s why the MSME sector is lagging behind

Lucknow, Feb 1 () The budget proposal to allow invoice financing by NBFCs will help the the micro, small and medium sector greatly, an industry body said on Saturday. 
<p> "The invoice financing by the NBFCs will help greatly
the MSME sector, but it should be applicable to all registered
as well as non-registered units," MSME Export Promotion
Council Chairman D S Rawat said.
</p><p>He said that the government should make it applicable to all units operating from conforming as well as non-conforming areas.
</p><p>Rawat said that in case it becomes applicable to only registered ones, over 60 per cent of the units will be left behind.
</p><p> "The lack of timely finance and working capital has always been the topmost concern for MSMEs, be it for local or global trade. The provision to enable NBFCs to extend invoice financing to MSMEs will open up an additional financing channel for MSMEs, helping in economic and financial sustainability of the MSME sector," trade platform Connect2India.com CEO Pawan Gupta said. 
</p><p> Getting timely access to capital would even allow more MSMEs to explore global opportunities as well as increase the volume of the trade, Gupta added.
</p><p>He also welcomed the move for restructuring of debts by a year, but said that keeping in view the prevailing economic conditions, it should be for at least two years.
</p><p>While presenting the budget, Finance Minister Nirmala Sitharaman said the government has asked the Reserve Bank to extend by a year to March 31, 2021, the Debt Restructuring window for micro, small and medium enterprises to give thrust to the MSME sector.
</p><p>She also said a scheme will be introduced to provide subordinate debt to MSME entrepreneurs.
</p><p> "This subordinate debt which will be provided by banks as quasi equity and would be fully guaranteed through credit guarantee trust for medium and small entrepreneurs, would be an additional channel for entrepreneurs and MSMEs to address their funding and financing needs," the Connect2India.com CEO observed.
</p><p>Rawat hailed the proposal to raise the turnover of Government e-Marketplace (GeM) platform to Rs 3 lakh crore, noting that it will help the MSME sector.
</p>"But, unless the norms of procurement for preferential
buying from the MSMEs is strongly monitored, its benefits will
not fully be passed on to the targeted sector," he said.  SMI  MR
MR

Invoice financing by NBFCs to help MSMEs greatly

New Delhi, Apr 9 () Micro, small and medium enterprises (MSME) exporters will be impacted more by the current lockdown on account of COVID-19 pandemic as the sector accounts for over 45 per cent of the country's total outbound shipments, according to trade experts.<p> They said the magnitude of the impact on MSME exporters can be gauged from the statement of the World Trade Organisation (WTO) which has projected that global trade in goods is set to decline steeply between 13 per cent and 32 per cent in 2020 as countries across the world are battling the pandemic.</p><p> The sector also contributes about 25 per cent to the country's GDP (Gross Domestic Product) from service activities and over 33 per cent to the manufacturing output of India.</p><p> Biswajit Dhar, a professor of economics at Jawaharlal Nehru University, said the government should immediately come out with an incentive package for exporters as the current crisis will 'severely' hit the MSME sector.</p><p> "India will suffer very badly and the biggest impact will be on the MSME exporters. They will also face issues in calling back their workers as several of them have migrated to their villages and towns," he said.</p><p> He said several countries, including the US, Japan and Germany, have announced incentive packages, but India is yet to roll out support measures for exporters.</p><p> "Incentives will help exporters to resume the work immediately after things start getting normal, otherwise they will not be able to restore their global buyers," Dhar added.</p><p> Rakesh Mohan Joshi, professor at Indian Institute of Foreign Trade (IIFT), said the outbreak of COVID-19 has put economies across the world on a virtual standstill.</p><p> "India's major export items such as petrochemicals, gems and jewellery, automobiles and auto components, cotton yarns and textiles, apparels, marine products, bovine meat among others are likely to receive a jolt primarily due to slump in demand in its major markets and disruption of supply chains which are integrated across countries," he said.</p><p> When asked about numbers, he said estimating any drop seems unrealistic as it would largely depend upon the virus rather than government incentives "as to how long -- a quarter, six months, a year or still longer -- it takes to emerge out of the virus and the damage it inflicts on human health and lives".</p><p> However, he added that the pandemic has opened up enormous opportunities in sectors such as pharmaceuticals wherein India had been the largest supplier of generic medicines which are highly competitive in European and American markets.</p><p> Besides, Joshi said the coronavirus, that emanated from China, has transformed the outlook of multinationals manufacturing in China and they are actively scouting for alternative destinations for investment to either shift their manufacturing or make new investments.</p><p> "This is the time India should transform this calamity into an unprecedented opportunity to make India the manufacturing hub and realize its 'Make in India' objective in real sense," he added.</p><p> Assistant professor and expert on agriculture economics Chirala Shankar Rao said there is a need to give special focus to MSME exporters engaged in agri products as there is a surge in demand for food products in global markets due to coronavirus outbreak.</p><p> Sharing similar views, Trade Promotion Council of India (TPCI) Chairman Mohit Singla said more than 100 per cent spike has been registered in demand for essential commodities such as rice, wheat and pulses during the current crisis.</p><p> Global trade growth is expected to plummet by up to a third in 2020 due to the coronavirus pandemic, the WTO said on Wednesday while warning that the numbers would be 'ugly'.</p> "World trade is expected to fall by between 13 per cent and 32 per cent in 2020 as the COVID-19 pandemic disrupts normal economic activity and life around the world," the WTO said in a statement.  RR  RVK

COVID-19 pandemic to hit MSME exporters more: Trade experts

<ul><li><cmsannotation type="cmsannotation" annotationid="about" comment="event_nav" text="About the Summit"><span data-til="noop">About the Summit</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="themes" comment="event_nav" text="Themes"><span data-til="noop">Themes</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="who_will_attend" comment="event_nav" text="Who will Attend"><span data-til="noop">Who will Attend</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="agenda" comment="event_nav" text="Agenda"><span data-til="noop">Agenda</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="why_attend" comment="event_nav" text="Why attend"><span data-til="noop">Why attend</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="videos" comment="event_nav" text="videos"><span data-til="noop">videos</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="contactus" comment="event_nav" text="Contact us"><span data-til="noop">Contact us</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="insights" comment="event_nav" text="Insights"><span data-til="noop">Insights</span></cmsannotation></li></ul><cmsannotation type="cmsannotation" annotationid="video" comment="top_panel" text="https://slike-i.akamaized.net/3q/m9/3n3qm9l66u/720p_1600.mp4"><span data-til="noop">https://slike-i.akamaized.net/3q/m9/3n3qm9l66u/720p_1600.mp4</span></cmsannotation><br /><cmsannotation type="cmsannotation" annotationid="About the Summit" comment="about_title" text="About the Summit"><span data-til="noop">About the Summit</span></cmsannotation><br /><cmsannotation type="cmsannotation" annotationid="Description" comment="about_desc" text="The collective might of the 6.3 crore Micro, small, and medium enterprises (MSMEs) can not be overstated. They are the load-bearing pillar of the Indian, and have steadily marked their path to recovery post the pandemic. While a lot can be attributed to the government’s policy push and innovative financing solutions, technology and digital transformation has also been a game-changer. Tech has helped MSMEs resolve issues, discover new markets, deal with regulatory compliances and navigate logistical challenges to drive meaningful business growth.India’s journey towards a five trillion economy is going to be powered by these engines of innovation!At Business Insider India, we seek to highlight not just the potential, but the need for renewed thinking to supercharge the country’s MSME sector. MSME Exchange aims to provide a platform for businesses, regulators, industry leaders, experts to come together and share ideas, talk about challenges and solutions that will transform the MSME sector for decades to come."><span data-til="noop">The collective might of the 6.3 crore Micro, small, and medium enterprises (MSMEs) can not be overstated. They are the load-bearing pillar of the Indian, and have steadily marked their path to recovery post the pandemic. While a lot can be attributed to the government’s policy push and innovative financing solutions, technology and digital transformation has also been a game-changer. Tech has helped MSMEs resolve issues, discover new markets, deal with regulatory compliances and navigate logistical challenges to drive meaningful business growth.<br />India’s journey towards a five trillion economy is going to be powered by these engines of innovation!<br />At Business Insider India, we seek to highlight not just the potential, but the need for renewed thinking to supercharge the country’s <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword> sector. <keyword id="4106334" type="General" weightage="20" keywordseo="msme-exchange" source="Orion">MSME Exchange</keyword> aims to provide a platform for businesses, regulators, industry leaders, experts to come together and share ideas, talk about challenges and solutions that will transform the MSME sector for decades to come.</span></cmsannotation><br /><br /><cmsannotation type="cmsannotation" annotationid="who_all_attend" comment="wwa_title" text="Who will Attend"><span data-til="noop">Who will Attend</span></cmsannotation><br /><ol><li>                    <div type="image" title="MSME investors, venture capitalists, leaders from financial institutions, think tanks and consultants" msid="101167223" hostid="261"></div></li><li>                    <div type="image" title="Ministers, Government representatives, leaders from industry bodies" msid="101167231" hostid="261"></div></li><li>                    <div type="image" title="MSME champions &amp;amp; stars in the making - startups, innovators and entrepreneurs" msid="101167252" hostid="261"></div></li><li>                    <div type="image" title="Business leaders, owners and promoters across sectors" msid="101167300" hostid="261"></div></li></ol><cmsannotation type="cmsannotation" annotationid="themes" comment="themes_title" text="Themes"><span data-til="noop">Themes</span></cmsannotation><table class="redcator-table-advance"><tbody><tr><td>Policy</td><td>FOSTERING MSMES</td><td><ol><li>Building the right environment for MSMEs to thrive.</li><li>Deliberations on policy issues, and industry-first solutions.</li><li>Creating the ecosystem for entrepreneurship in the MSME space</li></ol></td></tr><tr><td>Finance</td><td>NEED FOR INNOVATIVE FINANCING</td><td><ol><li>Making capital affordable and accessible for MSMEs across the value chain</li><li>Direction for regulation to help strengthen MSME financing</li><li>Technology as an aid for improved financing</li></ol></td></tr><tr><td>Technology</td><td>BRAVING THE DIGITAL WORLD</td><td><ol><li>Is digital transformation the answer to challenges faced by small businesses?</li><li>SaaS and MSMEs - Using innovative business models to foster digital innovation</li><li>Hear from the best in business about tech solutions for empowering and building a competitive MSME landscape</li></ol></td></tr><tr><td>Marketing</td><td>BRAND BUILDING FOR SMES</td><td><ol><li>Omni-channel marketing for MSMEs and synergising online and offline brand building </li><li>Building customer loyalty through engagement. Adding a personal connection to marketing</li></ol></td></tr><tr><td>Social e-commerce</td><td>UNLOCKING MSMEs POTENTIAL</td><td><ol><li>From interaction to transaction - unlocking e-commece potential for Indian MSMEs</li><li>Sell and earn: Making e-commerce simple and easy for new entrepreneurs</li></ol></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>   <br /><div type="embedgroup"><title>Videos</title> <div type="Youtube" id="W-ZBi_vVA-g" title="Promoting MSME Growth And Ease Of Doing Business" thumbUrl="https://i.ytimg.com/vi/W-ZBi_vVA-g/mqdefault.jpg"></div><payload><![CDATA[videos_top]]></payload></div><div type="embedgroup"><title>Videos</title> <div type="Youtube" id="W3LmGX6rfCY" title="Innovative Financing For MSMEs" thumbUrl="https://i.ytimg.com/vi/W3LmGX6rfCY/mqdefault.jpg"></div> <div type="Youtube" id="R2Dkr8KoOew" title="Tech Solutions Solving For MSME Problems" thumbUrl="https://i.ytimg.com/vi/R2Dkr8KoOew/mqdefault.jpg"></div> <div type="Youtube" id="iZAUFoKjkPc" title="MSMEs: The Backbone Of Indian Economy" thumbUrl="https://i.ytimg.com/vi/iZAUFoKjkPc/mqdefault.jpg"></div> <div type="Youtube" id="X4YJlFWiWQI" title="Empowering Women-Led MSMEs" thumbUrl="https://i.ytimg.com/vi/X4YJlFWiWQI/mqdefault.jpg"></div> <div type="Youtube" id="tWROVASCMoI" title="Empowering Small Businesses (MSMEs &amp;amp;amp;amp; Sustainability)" thumbUrl="https://i.ytimg.com/vi/tWROVASCMoI/mqdefault.jpg"></div><payload><![CDATA[videos_list]]></payload></div><br /><div type="embedgroup"><title>Agenda</title> <div type="Article" hostid="261" msid="101167582" title="Day 1" rank="1.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="101454766" title="Day 2" rank="2.0" mstype="2" mssubtype="0"></div><payload><![CDATA[agenda]]></payload></div><br /><div type="embedgroup"><title>Why Attend</title> <div type="image" title="Understand the challenges and opportunities that prevail in the Indian MSME landscape" rank="1.0" mstype="3" mssubtype="0" msid="101159833" hostid="261"></div> <div type="image" title="Engage with expert speakers, industry captains, lenders, entrepreneurs and gain insights into their journeys and the road ahead" rank="2.0" mstype="3" mssubtype="0" msid="101159819" hostid="261"></div> <div type="image" title="Listen, learn from the brightest minds working to find real life solutions – the thinking that we need to supercharge the backbone of India’s economy - MSMEs" rank="3.0" mstype="3" mssubtype="0" msid="101159803" hostid="261"></div><payload><![CDATA[why_attend]]></payload></div><br /><bulletContentEmbed name="Contact us" columns="1"><bulletContentHeading name="Contact us_head"></columnHeadThumb>Contact us</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Contact us_body"><bulletContentRow name="Contact us_9517658605537691"><bulletContentRowHeading><bulletContentRowHead col="1">Become a Partner</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><strong>Maninder Kumar - Head, Brand Partnerships<br /></strong><a href="mailto:maninder@businessinsider.in"><strong>Maninder Kumar</strong></a></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[contactus]]></payload></bulletContentEmbed><br /><div type="embedgroup"><title>Previous Edition Speakers</title> <div type="image" title="Sudarshan Chari" rank="1.0" mstype="3" mssubtype="0" msid="101215842" hostid="261"></div> <div type="image" title="Rahul Kothari" rank="2.0" mstype="3" mssubtype="0" msid="101215804" hostid="261"></div> <div type="image" title="Sameer Jain" rank="3.0" mstype="3" mssubtype="0" msid="101215759" hostid="261"></div> <div type="image" title="Ankur Warikoo" rank="4.0" mstype="3" mssubtype="0" msid="101215670" hostid="261"></div> <div type="image" title="T Koshy" rank="5.0" mstype="3" mssubtype="0" msid="101215630" hostid="261"></div> <div type="image" title="Rajnish Kumar" rank="6.0" mstype="3" mssubtype="0" msid="101215599" hostid="261"></div><payload><![CDATA[past_speakers]]></payload></div><br /><br /><div type="embedgroup"><title>Insights</title> <div type="Article" hostid="261" msid="96728596" title="The IPO momentum will continue in 2023 at least for small IPOs: Prime Database" rank="1.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="96618323" title="Small is the new big: SME IPOs double in 2022, while mainboard IPOs halve" rank="2.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92055240" title="This startup has a solution for other startups suffering from funding slowdown" rank="3.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92485293" title="MSMEs can aid waste management in India but need more hand holding" rank="4.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="93027479" title="Financial Institutions Turning Towards MSME Lending" rank="5.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92598320" title="MSMEs run on promoter’s savings and need insurance as much as other businesses" rank="6.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92848620" title="Fintechs are helping Indian MSMEs with their biggest challenge — data and the lack of it" rank="7.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92994870" title="Aditya Birla group to spend ₹2,000 crore on an MSME e-commerce venture" rank="8.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="93138395" title="India’s newly digitized MSMEs need offline marketing as much as online" rank="9.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="93323188" title="This startup is building infrastructure to automate and ease the process of giving out small biz loans" rank="10.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="93457388" title="MSME credit demand jumps 60% from pre-pandemic levels – a sign of rebound in economic activity" rank="11.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="94304823" title="IIT Guwahati starts incubation centre to help its students turn entrepreneurs" rank="12.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="95780667" title="Over 50% of microbusinesses had no mechanisms to cushion Covid impact, Road to Recovery report says" rank="13.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="95142442" title="Women-led Kinara Capital raises Rs 200 cr to empower MSMEs in India" rank="14.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="95575042" title="Union Bank, Tata Power Renewable join hands to help MSMEs switch to solar" rank="15.0" mstype="2" mssubtype="0"></div><payload><![CDATA[insights]]></payload></div><br />

MSME Season 4

New Delhi, Apr 9 () Micro, small and medium enterprises (MSME) exporters will be impacted more by the current lockdown on account of Covid-19 pandemic as the sector accounts for over 45 per cent in the country's total outbound shipments, according to trade experts. <p>They said that the magnitude of the impact on MSME exporters can be gauged from the statement of the World Trade Organisation (WTO) which has projected that global trade in goods is set to decline steeply between 13 per cent and 32 per cent in 2020 as countries across the world are battling with the Covid-19 pandemic.</p><p>The sector also contributes about 25 per cent to the country's GDP (gross domestic product) from service activities and over 33 per cent to the manufacturing output of India.</p><p>Biswajit Dhar, a professor of economics at Jawaharlal Nehru University, said the government should immediately come out with an incentive package for exporters as the current crisis will severely hit the MSME sector.</p><p>"India will suffer very badly as the biggest impact will be on the MSME exporters. They will also face issues in calling back their workers as several of them have migrated to their villages and towns," he said.</p><p>Expressing concern, he said several countries including the US, Japan and Germany have announced incentive packages but India has yet to roll out support measures for exporters.</p><p>"Incentives will help exporters to resume work immediately after things start getting normal, otherwise they will not be able to restore their global buyers," Dhar said.</p><p>Professor at Indian Institute of Foreign Trade (IIFT) Rakesh Mohan Joshi said the outbreak of COVID 19 pandemic has put the economies across the world on a virtual standstill. </p><p>"India's major exports items such as petrochemicals, gems and jewelry, automobiles and auto-components, cotton-yarns and textiles, apparels, marine products, bovine meat among others are likely to receive a jolt primarily due to slump in demand in its major markets and disruption of supply chains which are integrated across countries," he said.</p><p>When asked about any numbers, he said estimating any figures of drop seems unrealistic as it would largely depend upon the virus rather than government incentives "as to how long, a quarter, six months, a year or still longer, it takes to emerge out of the virus and damage it inflicts on the human health and lives".However, he added that the pandemic has opened up enormous opportunities in sectors such as pharmaceuticals wherein India has been the largest supplier of generic medicines which are highly competitive in European and American markets. </p><p>Besides, Joshi said the virus outbreak that emanated from China, has transformed the outlook of multinationals manufacturing in China and they are actively scouting for alternative destinations for investment to either to shift their manufacturing or making new investments. </p><p>"This is the time India should transform this calamity into an unprecedented opportunity to make India the manufacturing hub and realise its make in India objective in real sense," he added.</p><p>Assistant Professor and expert on agriculture economics Chirala Shankar Rao said there is a need to give special focus on MSME exporters who are engaged in agri products as there is a surge in demand for food products in global markets due to the coronavirus outbreak.</p><p>Sharing similar views, Trade Promotion Council of India (TPCI) Chairman Mohit Singla said more than 100 per cent spike has been registered in demand for essential commodities such as rice, wheat and pulses in the current crisis. </p><p> There will definitely be rebalancing of trade due to the current pressing situation where there is contraction of demand and consequently supply also getting disrupted. Due to the continued lockdown in several countries, supply has suffered and the extent of damage will depend on the number of days lockdown persists, he added.' </p><p>Global trade growth is expected to plummet by up to a third in 2020 due to the coronavirus pandemic, the WTO on Wednesday has said while warning that the numbers would be "ugly".    </p>"World trade is expected to fall by between 13 percent and 32 percent in 2020 as the COVID-19 pandemic disrupts normal economic activity and life around the world," the WTO had said in a statement.  RR  SHWSHW

Covid-19 pandemic to hit MSME exporters more: Trade experts

<bulletContentEmbed name="INAUGURAL ADDRESS (POLICY)" columns="1"><bulletContentHeading name="INAUGURAL ADDRESS (POLICY)_head"><div type="image" title="100153980" msid="101167632" hostid="261" sizebytes="345127"></div></columnHeadThumb>INAUGURAL ADDRESS (POLICY)</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="INAUGURAL ADDRESS (POLICY)_body"><bulletContentRow name="INAUGURAL ADDRESS (POLICY)_9886212833743733"><bulletContentRowHeading><bulletContentRowHead col="1">Promoting <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword> growth &amp; ease of doing business</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><strong>Small businesses are the growth engine for India’s economy. We shine the spotlight on the policy push to foster ease of doing business by providing faster avenues of credit and schemes to support the MSME sector. And more importantly, the need for digitising the lending process to enhance the ecosystem and overcome challenges.</strong></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed><br /><bulletContentEmbed name="KEYNOTE ADDRESS" columns="1"><bulletContentHeading name="KEYNOTE ADDRESS_head"><div type="image" title="100153980" msid="101167642" hostid="261" sizebytes="345127"></div></columnHeadThumb>KEYNOTE ADDRESS</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="KEYNOTE ADDRESS_body"><bulletContentRow name="KEYNOTE ADDRESS_2649762537898081"><bulletContentRowHeading><bulletContentRowHead col="1">Fuelling MSME growth for $5 trillion economy</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><strong>India’s journey towards a five trillion economy is going to be powered by small and medium businesses – these engines of innovation. There is a collective need to ideate, innovate and create tools that will boost the MSME landscape for the next decade.</strong></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed>

Day 1

<bulletContentEmbed name="INAUGURAL ADDRESS (POLICY)" columns="1"><bulletContentHeading name="INAUGURAL ADDRESS (POLICY)_head"><div type="image" title="Agenda1" msid="100270754" hostid="261"></div></columnHeadThumb>INAUGURAL ADDRESS (POLICY)</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="INAUGURAL ADDRESS (POLICY)_body"><bulletContentRow name="INAUGURAL ADDRESS (POLICY)_8067900943426201"><bulletContentRowHeading><bulletContentRowHead col="1">Promoting <keyword id="6358354" type="General" weightage="20" keywordseo="MSME" source="Orion">MSME</keyword> growth &amp; ease of doing business</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><strong>Small businesses are the growth engine for India’s economy. We shine the spotlight on the policy push to foster ease of doing business by providing faster avenues of credit and schemes to support the MSME sector. And more importantly, the need for digitising the lending process to enhance the ecosystem and overcome challenges.</strong><br /><br />    <div type="image" title="Varun Duggirala" msid="100270631" hostid="261" caption="&amp;lt;p&amp;gt;Influencer, Podcaster, Entrepreneur&amp;lt;/p&amp;gt;"></div><br />    <div type="image" title="Karan Virwani" msid="100270652" hostid="261" caption="&amp;lt;p&amp;gt;CEO&amp;lt;br&amp;gt;WeWork India&amp;lt;/p&amp;gt;"></div><br />    <div type="image" title="Anurag Malik" msid="100270689" hostid="261" caption="&amp;lt;p&amp;gt;National Leader&amp;lt;br&amp;gt;WAS, EY India&amp;lt;/p&amp;gt;"></div><br />    <div type="image" title="Anjali Byce" msid="100270731" hostid="261" caption="&amp;lt;p&amp;gt;CHRO&amp;lt;br&amp;gt;Sterlite Technologies&amp;lt;/p&amp;gt;"></div><br /><div type="image" title="Dr. Marcus Ranney" msid="100820352" hostid="261" sizebytes="390972" caption="&amp;lt;p&amp;gt;Author &amp;amp;amp; Founder&amp;lt;br&amp;gt;Human Edge&amp;lt;/p&amp;gt;&amp;lt;p&amp;gt;&amp;lt;span&amp;gt;&amp;lt;/span&amp;gt;&amp;lt;/p&amp;gt;"></div><br /></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[04:30 - 04:40]]></payload></bulletContentEmbed><br /><br /><bulletContentEmbed name="KEYNOTE ADDRESS" columns="1"><bulletContentHeading name="KEYNOTE ADDRESS_head">    <div type="image" title="Agenda2" msid="100270815" hostid="261"></div></columnHeadThumb>KEYNOTE ADDRESS</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="KEYNOTE ADDRESS_body"><bulletContentRow name="KEYNOTE ADDRESS_0556630790449101"><bulletContentRowHeading><bulletContentRowHead col="1">Fuelling MSME growth for $5 trillion economy</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">India’s journey towards a five trillion economy is going to be powered by small and medium businesses – these engines of innovation. There is a collective need to ideate, innovate and create tools that will boost the MSME landscape for the next decade.<br /><br />      <div type="image" title="Karishma Mehta" msid="100270928" hostid="261" caption="&amp;lt;p&amp;gt;Founder&amp;lt;br&amp;gt;Humans of Bombay&amp;lt;/p&amp;gt;"></div></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[04:40 - 04:50]]></payload></bulletContentEmbed><br />

Day 1,  January 18, 2023

<cmsannotation type="cmsannotation" annotationid="About the Summit" comment="black_heading" text="About the Summit"><span data-til="noop"><keyword id="17366482" type="General" weightage="20" keywordseo="about-the-summit" source="Orion">About the Summit</keyword></span></cmsannotation><br /><cmsannotation type="cmsannotation" annotationid="about the summit" comment="description" text="Micro, small, and medium enterprises (MSMEs) are a critical cog of the Indian economy, and have steadily marked their path to recovery post-pandemic. While a lot can be attributed to the government’s policy push and innovative financing solutions, technology and the rise of social commerce has been the real game-changer – helping them resolve issues, discover new markets, deal with regulatory compliances and navigate logistical challenges to drive meaningful business growth.India’s journey towards a five trillion economy is going to be powered by these engines of innovation! At BI India, we seek to highlight not just the potential, but the need for renewed thinking to supercharge the country’s MSME sector. Spread over two days in January, MSME Exchange aims to provide a platform for businesses, regulators, industry leaders, experts to come together and share ideas, talk about challenges and solutions that will transform the MSME sector for decades to come."><span data-til="noop">Micro, small, and medium enterprises (MSMEs) are a critical cog of the Indian economy, and have steadily marked their path to recovery post-pandemic. While a lot can be attributed to the government’s policy push and innovative financing solutions, technology and the rise of social commerce has been the real game-changer – helping them resolve issues, discover new markets, deal with regulatory compliances and navigate logistical challenges to drive meaningful business growth.<br />India’s journey towards a five trillion economy is going to be powered by these engines of innovation! At <keyword id="1998405" type="General" weightage="20" keywordseo="BI-INDIA" source="Orion">BI India</keyword>, we seek to highlight not just the potential, but the need for renewed thinking to supercharge the country’s MSME sector. Spread over two days in January, <keyword id="4106334" type="General" weightage="80" keywordseo="msme-exchange" source="Orion">MSME Exchange</keyword> aims to provide a platform for businesses, regulators, industry leaders, experts to come together and share ideas, talk about challenges and solutions that will transform the MSME sector for decades to come.</span></cmsannotation><br /><br />

About the summit

New Delhi, Dec 23 () Industry chamber PHDCCI on Monday said the definition of micro, small and medium enterprises (MSMEs) on the basis of turnover will help in promoting the ease of doing business as the process of identification and dealings with such entities will become simpler and faster.
<p>In February last year, the Union Cabinet had approved amendments to the law to change the criteria for classifying MSMEs from 'investment in plant and machinery' to 'annual turnover'.
</p><p>The proposed definition defines a micro enterprise as a unit where the annual turnover does not exceed five crore rupees; a small enterprise as a unit where the annual turnover is more than five crore rupees but does not exceed Rs 75 crore and a medium enterprise as a unit where the annual turnover is more than seventy five crore rupees but does not exceed Rs 250 crore.
</p><p> The government will soon make changes to the definition of an MSME, Union Minister Nitin Gadkari had said earlier.
</p><p> Also, Finance Minister Nirmala Sitharaman had in August said the government would consider amending the MSME Act to move towards a single definition.
</p><p> The update in the definition of MSMEs may allow a single definition for purposes related to taxation, investment, etc. The new definition is likely to be effected through an amendment to the MSME Act and may lead to further improvement in India's ease of doing business scenario.
</p><p> PHD Chamber of Commerce and Industry (PHDCCI) President D K Aggarwal said the MSME sector is critical in meeting the national objectives of generating employment, reducing poverty and slowing rural-urban migration. 
</p><p> Therefore, the proposed definition will help in directing the benefits of economic growth to the intended beneficiaries, he said.
</p><p> MSMEs are the pillars of economic growth as they contribute around 32 per cent in gross value added, employ around 111 million people (36.2 million in manufacturing, 38.71 million in trade and 36.28 million in other services) with a contribution of more than 48 per cent in total exports of India.
</p><p> At present, the definition of MSMEs is based on whether these companies produce goods or render services. This definition, based on investment in plant and machinery for manufacturing MSMEs and investment in equipment for service sector MSMEs was introduced in the year 2006 through the Micro, Small and Medium Enterprises Development Act.
</p><p> Going forward, the new criteria for defining an MSME could promote the ease of doing business as the process of identification and dealings with MSMEs would become simpler and faster. Also, the proposed criteria is in line with the criteria which is internationally applied and understood, said Aggarwal.
</p> "We propose the amendment to be made in the forthcoming session of Parliament, as it will enable more than 90 per cent of registered companies to boost and provide an impetus to the growth of our manufacturing GDP as well as provide employment and slowly make a turn around to see that India once again is back on its growth trajectory of USD 5 trillion economy," he added.  RSN  MKJ

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