#value creation of msmes

[steelindustryman]

GI Flanges Manufacture in Assam

Assam, a state known for its tea gardens and rich biodiversity, is also carving out a niche in the manufacturing of Galvanized Iron (GI) flanges. With a strategic focus on industrial development, Assam’s manufacturing sector is expanding, particularly in the area of metal fabrication. This growth is driven by both local demand and the potential for export to neighboring states and countries.

Manufacturers in Assam are increasingly adopting advanced technologies to produce high-quality GI flanges. The process typically involves sourcing raw materials from local suppliers, which helps to support the regional economy. After procuring the necessary steel, manufacturers engage in processes like cutting, stamping, and galvanizing to create flanges that are durable and resistant to rust and corrosion. These flanges find application in various industries, including construction, water supply systems, and oil and gas.

The state’s industrial policy actively promotes the MSME sector, providing financial assistance and incentives for new and existing businesses in the manufacturing space. Many small and medium enterprises in Assam are receiving support to upgrade their production facilities and enhance their product offerings. This governmental push is vital for improving the quality of GI flanges manufactured in the state and increasing their competitiveness in the market.

Moreover, the demand for GI flanges is on the rise, fueled by ongoing infrastructure projects and urbanization within Assam. The government’s efforts to improve transportation and connectivity have also opened up new markets for manufacturers, allowing for better distribution of products. The ability to transport finished goods efficiently is crucial for maintaining competitiveness, particularly in regions with emerging markets.

Assam's rich cultural heritage and community values also play a role in its industrial landscape. Many manufacturers are adopting sustainable practices, such as recycling and reducing waste in their production processes. This commitment to sustainability not only helps in protecting the environment but also aligns with the growing consumer preference for eco-friendly products.

As Assam continues to develop its manufacturing capabilities, the GI flange industry is expected to grow significantly. The combination of supportive government policies, a focus on quality, and an increasing demand for infrastructure will drive this sector forward, contributing to the state's economic development and job creation.

[wddadvertising]

5 REASONS YOU SHOULD OUTSOURCE DESIGN NEEDS

Did you read the caption or see the visual 1st? 99% of the time, it’s usually the latter!

We, human beings, are visual creatures. Our eyes always wander for shapes, colours, and visually stimulating images before they register anything else.

(Isn’t it obvious? Our virtual world revolves around some of the most visual-based APIs that are booming so well. You've definitely heard of it, even if you aren’t on it! AKA Instagram & Pinterest etc.)

Considering this, it is safe to say that visuals can significantly impact the mind and, when done well, can leave an impression for extended durations. Over time, with a lightning speed of advancement in digitalization & also the world as we know it-we can gradually trace a steady shift towards a more visually appealing culture!

Good visual communication is a strategy used by all; from MSMEs to corporates, civic bodies to even educational institutions & the business next door. Every institution in our society uses the tool of impactful communication through powerful visuals. Cause only when your clients see it will they know about it. Right?

The creative force, the artiste behind these determined creations are the ones that sit behind their huge computers, creating with an interplay of strategies—DESIGNERS!

Before we get into the nitty-gritty of why you shouldoutsource creative design services, let’s understand What Designers Do.

Their work is everywhere. From the roads to your phones, on the bus to home, the meeting you attended yesterday & even the blog you’re reading today.

Effective designs play a pivotal role in boosting, inviting, advertising & connecting your business to the right people. They usually help establish an identity with the science of impactful visual communication.

So, if you are a business owner, brand or someone who has something to say, you can outsource your work to a local oroffshore graphic designerreadily available to transform your ideas for better reception!

Want to know whyoutsource creative design? Dive right in!

1. Science of Design for Business Growth

There is science behind every design. All designers that do it for a profession have gone in-depth to learn, study & understand them well. They have dedicated their time in research and understanding colour theory & psychology, the impact of shapes & letters, and ways to make every communication uniquely distinct & impactful, together.

These professionals understand the tricks of the trade & know how to leverage their skills to bring you maximum visibility and, therefore, business growth.

So, when you can access a pool of the brightest resources & designers from thebest design studios in Indiaor anywhere else, why wait to outsource your design needs?

2. Even if You Know it, They Do it Better & Faster

We ain’t saying that you don’t know it. Just that, professional designers can do it better and faster!

Well, it’s a trade that they practice every day and, over time, have mastered the skill of providing the highest standards of work with quick turnaround times. After all, their time & efforts are solely dedicated to completing your work.

Especially when you hire one of the bestdesign agency in Indiaor around you, you can gain access to a team of professionals that can save your team ample time.

3. Their Experience Saves You Extra Effort!

There can be a spectrum of collaterals that encompasses your design needs. From logos, online & offline branding, posters, stationery, pitch decks, brochures, website & much more. Along with your day-to-day functioning, a dedicated outsourced digital marketing agency can bring you comprehensive design solutions that can set the right tone for your business, establish a peculiar identity, set brand guidelines that translate to higher retention value or recall value.

Their expertise makes your work easier, your communication clearer & help you reach the right audience without the need to spend manhours on researching “which font will help make the right impact?”

4. They Keep Your Wallets Intact

When you partner with one of thebest design agency to outsource creative designsyou don’t have to worry about hiring dedicated resources on your payroll. Hiring an agency gives you access to not just designers but a team of strategists, creators, content/copywriters & marketers that can take care of end-to-end business communication & collaterals without burning a hole in your wallets. Many global businessesoutsource digital marketing servicesto countries like India, where you gain access to the best resources at economical rates.

5. A Creative Bank, Dedicated to Your Design Needs

Let’s be honest, when you’re consumed with a specific business & its peripherals, A fresh perspective can make a vast impact.

Outsource your work to thebest design studios in India, where they can brainstorm the best ideas for your business & execute them with flawless perfection.

Now that you’ve reached here, there’s no more need to elaborate on why outsourcing your work is the way to go! Be smart with time and let the experts take care of the marketing collaterals for your business

www.writedesigndeliver.com

[pravinchandansblog]

How Pravin Chandan is Creating Employment Opportunities through Innovative Business Strategies

In today’s fast-paced business environment, innovation isn’t just a buzzword; it’s a necessity. Pravin Chandan, a renowned expert in marketing consulting and business strategies, is leading the way by not only transforming businesses but also creating meaningful employment opportunities. Here's how Pravin's innovative approach is making a significant impact.

Understanding Market Needs

Pravin Chandan’s success begins with a deep understanding of the market. By conducting thorough market research, he identifies emerging trends and untapped opportunities. This insight allows businesses to align their strategies with market demands, creating new roles and employment opportunities in the process.

Tailored Business Strategies

Every business is unique, and Pravin recognizes this by offering tailored business strategies that cater to specific industries and market conditions. His customized approach ensures that companies can optimize their operations, expand their market reach, and, importantly, hire the right talent to support this growth.

Fostering Innovation

Pravin Chandan emphasizes the importance of innovation in business. By encouraging companies to think outside the box and adopt new technologies, he helps them stay ahead of the competition. This innovative mindset often leads to the creation of new departments and roles, offering more employment opportunities in fields such as digital marketing, data analysis, and technology development.

Empowering Startups and Small Businesses

One of Pravin’s key focus areas is supporting startups and small businesses(MSMEs). He provides mentorship and marketing consulting to help these businesses overcome challenges and grow sustainably. As these businesses expand, they naturally require more employees, thus contributing to job creation.

Developing Sustainable Business Models

Pravin Chandan advocates for sustainable business practices that not only benefit the company but also the community. By helping businesses implement eco-friendly and socially responsible strategies, he enables them to tap into new markets and attract customers who value sustainability. This growth, in turn, leads to the creation of jobs in areas such as sustainability consulting, green product development, and corporate social responsibility.

Leveraging Digital Marketing

In today’s digital age, a strong online presence is crucial for business success. Pravin’s expertise in digital marketing consulting helps businesses enhance their online visibility and reach a broader audience. As companies grow their digital footprint, they often expand their teams to include digital marketers, content creators, and social media managers, further contributing to employment growth.

Training and Development Programs

Pravin believes in investing in people. He encourages businesses to implement training and development programs that upskill their existing workforce. This not only improves employee satisfaction and retention but also opens up new opportunities for individuals to advance their careers and take on new roles within the company.

Networking and Partnerships

Through his extensive network, Pravin Chandan facilitates partnerships between businesses, creating synergies that lead to expansion and job creation. By connecting companies with potential collaborators, investors, and clients, he helps them scale their operations and, as a result, generate more employment opportunities.

Adapting to Market Changes

The business landscape is constantly evolving, and Pravin Chandan’s strategies are designed to help companies adapt to these changes. Whether it’s navigating economic shifts or responding to technological advancements, Pravin ensures that businesses remain agile and ready to seize new opportunities. This adaptability often leads to the need for new skill sets within companies, driving recruitment and employment.

Some closing words..

Pravin Chandan is not just a marketing consultant; he’s a visionary who understands the power of innovative business strategies in creating employment opportunities. Through his tailored approaches, support for startups, and commitment to sustainability, Pravin is helping businesses grow while making a positive impact on the job market. As companies continue to evolve under his guidance, they will undoubtedly contribute to a thriving economy by offering more opportunities to talented individuals across various sectors.

Source Link: https://pravinchandan.com/blog/post/how-pravin-chandan-is-creating-employment-opportunities

[pgsenergyservices]

Understanding the Role of ESG Rating Provider Agencies in Driving Accountability

Introduction: The Journey of PGS Impact Private Limited

PGS Impact Private Limited, an impanelled ESG Rating Provider with the Securities and Exchange Board of India (SEBI) wide registration no. Category-II/0007). We specialize in delivering comprehensive Environmental, Social, and Governance (ESG) ratings.

Our expertise is rooted in a strong foundation of sustainability, energy efficiency, and renewable energy solutions, under the PGS Group, which boasts over 20 years of experience in energy efficiency & sustainability for 12 energy-intensive sectors including Refinery, Petrochemicals, Railways, Thermal Power Plants, Cement, Textile, Paper & Pulp, Commercial buildings, DISCOMs, MSMEs, Iron & Steel, and Aluminum sectors.

Over the years, PGS Impact evolved into one of the SEBI Registered ESG Rating Providers under Category II. Environmental, Social, and Governance (ESG rating provider agencies in India), renowned for its meticulous assessments and unwavering commitment to transparency and accountability. The turning point for PGS Impact came in 2024 when they were approached by a major manufacturing conglomerate facing scrutiny over its environmental practices.

The conglomerate, recognizing the growing importance of sustainability in investor decisions, sought PGS Impact’s expertise to overhaul its ESG practices. PGS Impact’s thorough and unbiased evaluation not only helped the conglomerate improve its environmental impact but also enhanced its reputation among investors and stakeholders.

This success story epitomizes the crucial role that ESG rating provider agencies play in driving corporate accountability. But how do these agencies influence corporate behavior, and why are their ratings so impactful? Let’s delve deeper into ESG ratings to understand their significance.

The Importance of ESG Ratings

ESG ratings are pivotal in the modern investment landscape, serving as a benchmark for evaluating the sustainability and ethical impact of companies. We provide insights into how well companies manage environmental risks, their contributions to social well-being, and the robustness of their governance structures. ESG ratings help investors make informed decisions, ensuring investments align with their values and long-term sustainability goals.

The Role of ESG rating Provider agencies in India

Assessment and Reporting: ESG rating provider agencies, like PGS Impact, analyze data sources, including company disclosures, regulatory filings, and media reports, to evaluate a company’s performance across environmental, social, and governance criteria. These evaluations result in comprehensive reports on areas of strength and opportunities for improvement.

Benchmarking and Comparisons: These agencies provide benchmarks that allow investors to compare companies within the same industry or sector. This comparative analysis helps investors identify leaders and laggards in sustainability practices, guiding investment decisions toward a company’s long-term value creation over short-term gains.

Enhancing Transparency: By making ESG data publicly available, rating agencies foster a culture of transparency and accountability. Companies are encouraged to disclose more information about their ESG practices, leading to better-informed stakeholders and more responsible corporate behavior.

Driving Change: The ratings and insights provided by ESG rating agencies in India often drive companies to implement better ESG practices. Poor ratings can prompt companies to take corrective actions, while high ratings can attract investment and improve a company’s market reputation.

Impact of ESG Ratings on Corporate Accountability

Investor Confidence: ESG ratings build investor confidence by ensuring investments in companies committed to sustainable practices. Studies have shown that companies with high ESG ratings often exhibit lower risk and better long-term performance. For instance, a report by MSCI found that companies with strong ESG profiles had lower costs of capital compared to their peers with lower ESG ratings.

Regulatory Compliance: ESG ratings help companies stay ahead of regulatory changes by highlighting areas that require improvement. This proactive approach to compliance reduces the risk of legal penalties and enhances corporate governance.

Stakeholder Engagement: Companies with high ESG ratings have better relationships with stakeholders, including employees, customers, and communities. This positive engagement can improve brand loyalty, employee retention, and customer satisfaction.

Market Performance: There is a growing body of evidence linking strong ESG performance to superior market returns. According to a study by Harvard Business School, companies with good ratings on material sustainability issues significantly outperformed those with poor ratings.

FAQs

1. How do ESG rating provider agencies ensure the accuracy and reliability of the data they analyze?

ESG rating provider agencies in India play a critical role in promoting corporate accountability and sustainability. Ensuring the accuracy and reliability of their data is fundamental to their mission.

Through diverse data sources, standardized methodologies, rigorous verification processes, transparency, continuous improvement, and technological integration, these agencies provide trustworthy and actionable insights.

The meticulous practices of agencies like PGS Impact Private Limited highlight the industry’s commitment to delivering high-quality ESG ratings that stakeholders can rely on for informed decision-making.

2. What specific criteria do ESG rating provider agencies in India use to evaluate companies’ environmental, social, and governance performance?

By considering a diverse range of environmental, social, and governance criteria, ESG rating agencies in India provide comprehensive assessments of companies’ sustainability performance. These criteria help investors, stakeholders, and companies themselves understand and address their ESG risks and opportunities, driving progress towards a more sustainable and responsible business environment.

The Future of ESG ratings to adapt and innovate:

The future of Environmental, Social, and Governance (ESG) investing and practices is evolving rapidly due to increased awareness, regulatory changes, and shifting investor priorities. Here are some key trends and potential developments:

1. Increased Regulatory Scrutiny

Governments and regulatory bodies worldwide are tightening regulations around ESG disclosures. This trend is likely to continue, with more stringent requirements for companies to report their ESG practices and impacts. Regulations like the EU’s Sustainable Finance Disclosure Regulation (SFDR) and the proposed U.S. SEC rules are setting the pace.

2. Standardization of ESG Metrics

One of the major challenges in ESG investing has been the lack of standardized metrics. Efforts to harmonize ESG reporting standards, such as those by the International Sustainability Standards Board (ISSB) and the Global Reporting Initiative (GRI), are expected to gain traction. This will make it easier for investors to compare ESG performance across companies.

3. Integration of ESG into Core Business Strategies

Companies are increasingly integrating ESG considerations into their core business strategies rather than treating them as separate initiatives. This holistic approach can drive long-term value creation and risk mitigation.

4. Technological Innovations and Data Analytics

Advances in technology, particularly in big data and AI, are revolutionizing ESG analysis. These tools can help investors and companies better understand and manage ESG risks and opportunities. Enhanced data analytics can lead to more accurate ESG scoring and reporting.

5. Focus on Climate Change and Carbon Neutrality

Climate change remains a central issue within ESG. There is a growing emphasis on achieving carbon neutrality, with more companies committing to net-zero emissions targets. Innovations in renewable energy, carbon capture, and sustainable practices are critical areas of focus.

6. Social Issues and Human Capital Management

The social aspect of ESG is gaining prominence, particularly in areas such as diversity, equity, and inclusion (DEI), human rights, and labor practices. Companies are increasingly being held accountable for their social impacts and are expected to demonstrate genuine commitments to these issues.

7. Rise of Impact Investing

Impact investing, which aims to generate positive social and environmental impacts alongside financial returns, is gaining popularity. Investors are looking for opportunities that align with their values and contribute to sustainable development goals (SDGs).

8. Investor Demand and Engagement

Investor demand for ESG products and strategies continues to grow. Shareholder activism and engagement are becoming more common, with investors using their influence to push for better ESG practices and disclosures from companies.

9. Corporate Governance Reforms

Good governance is a critical pillar of ESG. There is a growing emphasis on board diversity, executive compensation linked to ESG performance, and transparent governance practices. These reforms are aimed at ensuring that companies are accountable and aligned with long-term stakeholder interests.

10. Challenges and Criticisms

Despite the positive momentum, ESG faces challenges such as green washing (false or misleading claims about environmental practices), data inconsistencies, and the need for greater clarity on materiality. Addressing these challenges will be crucial for the credibility and effectiveness of ESG efforts.

Conclusion

The journey of PGS Impact Private Limited from a small start-up to a leading ESG rating provider agencies is a testament to the transformative power of ESG ratings.

These agencies are crucial in driving corporate accountability by providing transparent, comprehensive assessments of companies’ sustainability practices. As the demand for responsible investing continues to grow, the influence of ESG rating agencies in India will only become more pronounced, guiding companies toward a more sustainable and equitable future.

As ESG continues to evolve, companies and investors that proactively adapt to these changes are likely to be better positioned for long-term success.

In this evolving landscape, the work of PGS Impact and its peers is more important than ever, ensuring that businesses not only thrive financially but also contribute positively to the world around them.

[contentmakers]

Empowering Futures: Unveiling the Academic Excellence at Sanskriti University

Students who achieve academic excellence have more chances of becoming employed. Academic excellence is the key driving force to create industry-ready professionals with the optimum blend of knowledge, skills, and competencies required by organizations in the exponentially dynamic business world. Sanskriti University is committed to teaching its students Life Skills so that, in addition to preparing them for the workforce, they can become compassionate professionals who are aware of the needs of their communities and society. At Sanskriti University, they think that a student's employability is a result of their academic success as well as their life skills, values, and other related aspects of their personality that they have developed throughout the program.

The important factor boosting students' employability is the dedicated faculty members' team who provide domain knowledge optimally coupled with the honest efforts of the faculty members imparting life skills. 

Sanskriti University places a strong emphasis on extracurricular activities, field trips, conferences, seminars, workshops, internships, and other events to prepare its students for the workforce and help them become highly employable professionals who can provide outstanding services to organizations at high-performance levels.

They firmly feel that achieving academic success is just one of many factors needed to improve students' overall employability. With an emphasis on total personality development, they are dedicated to developing round-shaped workers for academic success and to maximize their employability.

Foreign collaborations

Sanskriti University is dedicated to the goal of attaining, fostering, and advancing excellence via the cooperative efforts of esteemed domestic and international partners from both India and other countries. An agreement was reached by Sanskriti University with the University of Cambridge to provide advanced English language instruction. Additionally, SU and the Technology Development Centre of the Micro, Small, and Medium Enterprises Ministry have signed an agreement to foster cooperation and skill development between the two organizations. The National Institute for Entrepreneurship & Small Business Development, through its sponsorship of the National Scheme for Entrepreneurship Development, has accredited Sanskriti University as a project institute. Through instruction and training, the project seeks to establish a supportive ecosystem. Additionally, they have an agreement in place with the HELP University of Malaysia, a pioneer in the field of education.

Through research and exposure to the world, the relationship enables Sanskriti University to improve the quality of education at the postsecondary level. For faculty members and MBA program participants, the Memorandum of Understanding (MoU) facilitates exchange and credit transfer programs. By entering into Memorandums of Understanding (MOUs) with numerous prestigious organizations and universities, they hope to expand both nationally and internationally. Their goal is to take advantage of these synergies and further their shared interests in the fields of academia, research, innovation, entrepreneurship, and other related fields.

Centre of Excellence

"Excellence in Life" is Sanskriti University's motto. Three Centres of Excellence (CoE) have been created by Sanskriti University in partnership with MSME, PPDC, and Agra, to help them stay up to date with the technological advancements of the developed world.

The three centers are as follows- the Centre of Excellence on Industrial Automation & Robotics, the Centre of Excellence on Ecological Farming, and the Centre of Excellence on CNC Machines.

The creation of novel concepts, methods, standards, and benchmarks in a certain field is the aim of the center of excellence. Eliminating inefficiencies and assisting in the transition of technology to the next level of the maturity model are two of the centre of Excellence's main objectives.

Placement scenario at Sanskriti University

The University's placements are overseen by a group of highly qualified professionals working with a committee made up of students and other academic members who serve as their mentors. The university has placed students in very encouraging positions, and they have been offered a variety of internship and employment options in a wide range of businesses and industries. The placement staff continuously works to give Sanskriti University students pursuing undergraduate and graduate degrees the greatest career and internship options. At Sanskriti University, a student's maximum income is approximately forty-two lacs. With each new class of students, the placement team aims to increase the average wage.

Start-ups

The Sanskriti University has been leading the way in the field of developing entrepreneurship. To realize the visionary objectives of the Honourable Prime Minister and provide a boost to programming related to entrepreneurship development, skill development, and Made in India, the University has been arranging several Sensitization programs in this field.

The university is dedicated to helping students enhance their orientation, knowledge, abilities, and competencies so they may effectively create and manage their businesses with competence and confidence.

The university and MSME-PPDC Agra have partnered to build an incubator centre.

At Sanskriti University, they are dedicated to creating an environment that supports excellence in the fields of start-ups and entrepreneurship.

Some of the start-ups include Brij Spots, Rudra Fitness Center, and others.

Sanskriti University Global Youth Alumni Network (SUGYAN)

The university is happy to maintain contact with the Sanskriti Campus alumni who graduated in the past. At Sanskriti University, they firmly believe that alumni's bonds with their alma mater, Sanskriti, are enduring.

They are dedicated to upholding a mutually beneficial and long-lasting relationship with the alumni, and they put special emphasis on fostering this relationship to further shared interests.

The Sanskriti University Placement Team is dedicated to helping alumni with their next professional steps. To obtain a young and dynamic talent pool from Sanskriti University and institutes from Mathura and the Braj Region, the placement team is always happy to support the alumni in their summer and Final Recruitment campaigns.

Conclusion

Sanskriti University will stay true to its mission of developing into a centre of excellence that offers life skills and values-based education to create professionals who are ready for the workforce. The administration of the institution wants to see it set new standards for excellence. The institution is dedicated to producing and fostering workers with a strong sense of cultural and professional values and an ideal combination of knowledge, skills, competencies, ethics, and values.

[hardynwa]

Imo guber: Obidient support group canvasses support for Uzodimma’s re-election

Fourty Million Ballots Movement, an Obidient support group, yesterday, threw its weight behind Imo State governor, Hope Uzodimma, for a second term in office, describing his administration as operational and people-oriented. Speaking at a town hall meeting with other Obidient support groups and coordinators drawn from the 27 councils in the state, founder of the group, Kennedy Iyere, described Uzodimma as a progressive who is committed to development of the state. According to him, it was important to hold the meeting to sensitise the electorate. He said over 85 per cent of Obidients in the state would not hesitate to follow his lead. The event, tagged ‘Imo Obidients Townhall Meeting,’ was held in Owerri, with over 1,000 Obidients, including coordinators and allies in attendance. Iyere said Uzodimma’s passion for human capital development led to the creation of SkillUpImo Project, which, if properly implemented, would solve unemployment, grow youth enterprise, de-radicalise youths and address insecurity. He said: “The governor has proven himself to be a 21st century governor, who understands the power of technology and the role it plays in the digital economy. He knows the value of human capital and its role in promoting entrepreneurship, as well as the growth of Micro, Small and Medium Enterprises (MSMEs), which is the surest way to ensure accelerated growth of Gross Domestic Product (GDP) of the state. “For a governor, who has uncommon goodwill and leadership charisma, I would not hesitate to give him my support. This was the reason I had to assemble Obidients in the state and enlighten them on the need to give their votes to him for his re-election.” Iyere said Uzodimma ranks the best among past governors in the state since 1999, adding that the assessment was based on performance. He stressed that the Uzodimma administration has achieved and delivered more dividends of democracy to people of state than his predecessors. “Since 1999 till date, Uzodimma has done far better than any other Imo State governor. None has matched his record in terms of infrastructural and human capital development. Part of his significant accomplishments include: Orlu, Okigwe and Mbaise roads. Others are the SkillUpImo Project, the increased Internal Generated Revenue (IGR) and GDP, among others.” Read the full article

[stevetough]

Understanding the MSME Cluster Development Programme

The Micro, Small and Medium Enterprises (MSME) sector plays a vital role in the growth and development of the Indian economy. It contributes significantly to employment generation, exports, and industrialisation, particularly in rural areas. However, MSMEs face various challenges, such as limited access to finance, inadequate technology and infrastructure, and lack of market linkages, among others. To address these challenges, the government of India has launched several schemes and programs, including the MSME Cluster Development Programme (CDP).

The MSME CDP is an initiative of the Ministry of Micro, Small and Medium Enterprises, Government of India. The program aims to enhance the productivity and competitiveness of MSMEs by promoting the development of clusters. Clusters are groups of interconnected firms and related institutions in a particular geographical area that produce similar products or services. The MSME CDP provides support to clusters through the formation of cluster-level Special Purpose Vehicles (SPVs) and the implementation of various interventions aimed at improving their performance.

Objectives of the MSME CDP

The MSME CDP has several objectives aimed at improving the performance of MSMEs in clusters. These objectives include:

Improving the competitiveness of MSMEs: The program aims to enhance the competitiveness of MSMEs by improving their product quality, reducing costs, and increasing their access to markets.

Encouraging the development of innovative technologies: The MSME CDP encourages the development and adoption of innovative technologies to improve the productivity and competitiveness of MSMEs.

Promoting the creation of employment opportunities: The program aims to promote the creation of employment opportunities by supporting the growth of MSMEs in clusters.

Strengthening the backward and forward linkages of MSMEs: The MSME CDP aims to strengthen the backward and forward linkages of MSMEs by promoting the development of local supply chains, increasing the participation of MSMEs in global value chains, and enhancing their access to finance.

Implementation of the MSME CDP

The implementation of the MSME CDP involves the following steps:

Identification of potential clusters: The first step in the implementation of the MSME CDP is the identification of potential clusters. Clusters are identified based on various criteria, including the presence of a critical mass of MSMEs producing similar products or services, the presence of supporting infrastructure and institutions, and the potential for growth and development.

Formation of cluster-level special purpose vehicles (SPVs): Once potential clusters have been identified, cluster-level Special Purpose Vehicles (SPVs) are formed. These SPVs are responsible for implementing the various interventions under the MSME CDP, including conducting diagnostic studies, preparing action plans, and implementing the action plans.

Conduct of diagnostic studies and preparation of action plans: The next step in the implementation of the MSME CDP is the conduct of diagnostic studies to identify the strengths, weaknesses, opportunities, and threats of the clusters. Based on the findings of the diagnostic studies, action plans are prepared to address the identified issues and improve the performance of the clusters.

Implementation of the action plans: The final step in the implementation of the MSME CDP is the implementation of the action plans. The interventions under the action plans are designed to improve the competitiveness of MSMEs in the clusters, enhance their access to markets and finance, and promote the adoption of innovative technologies.

Benefits of the MSME CDP

The MSME CDP has several benefits for MSMEs in clusters. These benefits include:

Improved productivity and competitiveness of MSMEs: The MSME CDP interventions aimed at improving the productivity and competitiveness of MSMEs have resulted in improved product quality, reduced costs, and increased market share.

Creation of employment opportunities: The MSME CDP has led to the creation of employment opportunities by supporting the growth and development of MSMEs in clusters.

Strengthening of backward and forward linkages: The MSME CDP interventions aimed at strengthening the backward and forward linkages of MSMEs have resulted in the development of local supply chains, increased participation of MSMEs in global value chains, and enhanced access to finance.

Encouragement of innovation and technology upgradation: The MSME CDP encourages the adoption of innovative technologies to improve the productivity and competitiveness of MSMEs.

Challenges and the way forward

The MSME CDP faces several challenges, including:

Limited awareness and participation of MSMEs: Despite the benefits of the MSME CDP, many MSMEs are not aware of the program, and participation rates are low. There is a need to increase awareness among MSMEs about the program and its benefits.

Lack of adequate infrastructure and resources: Many MSME clusters lack adequate infrastructure and resources, which limit their growth and development. The government and other stakeholders need to provide adequate infrastructure and resources to MSME clusters to support their growth.

Need for sustained support from the government and other stakeholders: The MSME CDP requires sustained support from the government and other stakeholders to ensure its effectiveness and impact. There is a need to ensure that adequate resources are allocated to the program and that it is implemented effectively.

Importance of regular monitoring and evaluation: Regular monitoring and evaluation of the MSME CDP are essential to assess its impact and effectiveness. There is a need to establish a robust monitoring and evaluation framework to track the progress of the program and make necessary adjustments.

Disclaimer: Please note that the information provided in this article is intended for general informational purposes only and should not be construed as professional advice or relied upon as a substitute for consultation with qualified experts. The accuracy, completeness, and timeliness of the information presented in this article may vary and are based on the knowledge and resources available at the time of writing, which may not be comprehensive or up-to-date.

[forceforgood01]

Technology for a Secure, Sustainable and Superior Future.

The importance of sustainability in all facets of our life, including financial, has recently come to light. The idea of sustainable finance entails incorporating environmental, social, and governance (ESG) considerations into financial decision-making. In order to foster long-term value creation and financial stability, sustainable finance must take into account how investments will affect people and the environment.

The financing of micro, small, and medium-sized businesses (MSMEs) is one area where sustainable finance is particularly pertinent. MSMEs are essential to the global economy because they create jobs and promote economic progress. However, MSMEs frequently encounter significant obstacles when trying to access financing, particularly in emerging markets. By giving MSME’s access to money that is in line with their aims and values, sustainable finance can aid in addressing these issues. Technology may be a key factor in empowering MSMEs to be positive forces in the world. 

Digital platforms for MSME financing:- Digital platforms can help to streamline the financing process for MSMEs, making it easier and more efficient for them to access finance. Platforms such as peer-to-peer lending and crowdfunding can connect MSMEs directly with investors, reducing the costs and complexity associated with traditional financing.

Blockchain for transparency and accountability:- Blockchain technology can help to improve transparency and accountability in the financing process, reducing the risk of fraud and corruption. Blockchain can be used to create a secure and tamper-proof record of financial transactions, ensuring that financing is used for its intended purpose.

Big data for risk assessment:-Big data can be used to assess the risk of financing MSMEs, providing lenders with a more accurate picture of their creditworthiness. By analyzing data on factors such as cash flow, inventory turnover and customer satisfaction, lenders can make more informed decisions about financing MSMEs.

AI for sustainability reporting:- Artificial intelligence can be used to automate sustainability reporting for MSMEs, making it easier for them to report on their ESG performance. AI can help MSMEs to collect and analyze data on their environmental impact, social performance and governance practices, enabling them to identify areas for improvement and demonstrate their commitment to sustainability.

In addition to sustainable finance, there is a growing trend towards viewing capitalism as a force for good. This concept emphasizes the role of business in creating positive social and environmental impact while generating profits. MSME’s, as key drivers of economic growth and employment, have a significant role to play in this shift towards a more responsible and sustainable form of capitalism.

Another way through which MSME’s can become a force for good is by embracing a "triple bottom line" approach to business, which considers not just financial performance, but also social and environmental impact. By prioritizing sustainability alongside profitability, MSMEs can create long-term value for all stakeholders, including customers, employees, investors and the broader community.

Visit Force for Good and learn more about Sustainable finance for MSME.

[megatronlogistics]

Budget 2023: Vision for Logistics Enterprise May also Enhance India’s Scores Globally

India has the world's fifth-largest economy and has the vision to reach a $5 trillion economy by 2025. With this growth, it is expected that the logistics industry will play a major role.  

By the end of 2025, India will have the employment of 22 million people and will act as the backbone for multiple industries. Investing in infrastructural development by creating a dedicated freight corridor will improve connectivity by rail, road, and sea, and it will enable technology-driven solutions for the improvement that is visible across the supply chain, which will be critical if India has to sustain and accelerate GDP growth.

In 2021, the logistics industry in India was valued at $250 billion, and with the market poised to grow to an impressive $380 billion by 2025, it will give growth to logistics companies like the Best logistics Company in Guwahati. However, the environment still faces many challenges, with India ranked 44th in the Logistics Performance Index (LPI) published by the World Bank, and industry experts agree that costs must be reduced quickly.

The cost of logistics in India is expected to hover around 12% to 13% of the GDP mark, which will be much higher compared to the US at 9.5%,  Germany at 8%, or the BRICS countries at 11%. The government has already laid out an outline with many steps to bring this number to 8% by 2030, which will result in driving the enterprise efficiently.

There are a lot of expectations surrounding the Union Budget for 2023, most notably concerning implementing plans from the National Logistics Policy (NLP), which Prime Minister Modi launched in September 2022. NLP is intended to improve economic growth by increasing employment and improving domestic products' competitiveness abroad. It will also establish a single window to the e-logistics market that will make it easier for goods to move between different parts of the country.

The natural next step is to follow the Gati Shakti National Master Plan, which seeks the urgent improvement of first- and last-mile connectivity and continues to be a roadblock for players like e-commerce and MSMEs across the board.

Endnotes

The implementation of ULIP would prove to be the game changer in times that come by improving the visibility multi-folding, cutting down expenses delays, and enhancing enterprise efficiency, expensive delays, and transport costs. And Logistics company in Assam will play a vital role in strengthening and adaptation of these open-source protocols that will break down silos in communication, improve service quality assessment, and improve automation for greater reliability and ease of doing business. 

With more than 60% of all cargo in India transported by road (compared to the global average of 25%), Indian roads are the lifeline for freight transport. And initiatives like FASTag help to reduce driving and transportation time. However, in this budget, the companies hope to contribute to the creation of dedicated freight corridors (DFCs) and the creation of multimodal parks, as well as air terminals and better rail connectivity, for the trade of goods across the state.

[openideas2open]

Finance Minister Nirmala Sitharaman tabled the Union Budget 2023-2024. Like previous Union Budgets, this fiscal year focuses on Inclusive Development (financial inclusion of small Businesses and support ease of doing business), promoting Public-Private Partnerships, Skilling (teaching-upskill), and setting off medium to long-term national development programs. In the previous blog, we set specific expectations out of the Union Budget for startups and businesses. Here is a roundup of Union Budget 2023 highlights.

Key Union Budget 2023 Highlights

The ease of doing business just got easier: 

More than 39,000 compliances were reduced, and over 3,400 legal provisions were decriminalized. Govt introduced the Jan Vishwas Bill to amend 42 central acts to further trust-based governance at all levels. Decriminalizing offenses in this context means a specific number of minor economic offenses which were earlier punishable with imprisonment will now be a penalty that a governing body would levy with revised fines and penalties.

The National Data Policy will allow access to anonymous data to create risk-based profiles to further the creation of adaptive KYC for Digital India. Government bodies will leverage Business PAN as the key identifier for assessing and accessing company data. It will reduce the complexity of doing business as it will reduce the usage of over 13 different business IDs, such as EPFO, ESIC, GSTN, TIN, TAN, and PAN, used to apply for various government approvals.

MSMEs Unbound:

Union budget 2023 focused mainly on the Micro, Small, and Medium Enterprises (MSMEs) sector. 

FM Nirmala Sitharaman declared the Vivad Se Vishwas scheme for failing MSMEs. MSMEs will receive 95% of the performance security from the government under this scheme in cases of failure to execute contracts.

Another big step is to enable timely payments to MSMEs. A deduction for payments made to MSMEs will only be allowed when it is paid off.

Extension of ECLGS To focus on the hospitality sector, the Finance Minister announced the extension of ECLGS up to March 2023. The Emergency Credit Line Guarantee Scheme (ECLGS) was launched amid the Covid-19 pandemic to help MSMEs cope with pandemic losses and was extended up to March 31, 2022. Considering the following aspects, the ECLGS will be extended up to March 2023, and its guarantee cover will be expanded by Rs 50,000 crore to a total surface of Rs 5 lakh crore.

Govt. will Revamp Credit Guarantee Trust for small micro-enterprises scheme (CGTMSE) with an additional infusion of 9000 Cr. It will allow for two lakh crores of rupees in collateral-free guaranteed credit. Furthermore, credit costs will be reduced by about 1%.

For presumptive taxation of small businesses and professionals:

The turnover limit for small businesses was expanded to Rs 3 crore from earlier Rs 2 crore, 

For certain professionals, it was broadened to Rs 75 lakh from earlier Rs 50 lakh.

Presumptive taxation can only be used when the value of cash receipts is at most 5 percent of the total value of the receipts.  Small businesses and professionals need not maintain their books of account and get their accounts audited, which relieves tedious tax filing exercises.

Reduction of customs duty on specific items and customs duty exemption on iron and steel scrap will contribute to the growth of MSMEs.

The government extends customs duty exemption to capital goods and machinery imports used to manufacture lithium-ion cells for EV batteries.​​ This cost drop will aid electric vehicle growth and help businesses produce EVs at a lower manufacturing cost.

The government extended the scope of the current DigiLocker to assist innovation in the fintech industry with Entity DigiLocker. Soon, Entity DigiLocker will allow MSMEs, companies, and charitable trusts to not only store but also share documents securely with authorities, regulators, banks, and other business entities.

Extended Tax holidays and a little more for StartUps: 

The Centre announced tax holidays along with many regulatory changes for Startups. They will be listed below:

FM Sitharaman extended the Tax Holiday Scheme for startups till March 31, 2024, which means that startups incorporated till the latest date next year can avail of tax benefits. The tax holiday scheme was earlier available for startups incorporated till March 31, 2023. Other Tax benefits are that the eligible start-ups incorporated before 1 April 2024 also stand to enjoy these tax measures, which are deferral of ESOP taxation under Section 192(1C), relaxation on carry-forward, and set-off of losses under Section 79, angel tax exemption.

The Budget 2023 provided relief to startups by giving the benefit of taking forward losses on a change of shareholding of startups from seven years to ten years. The condition of continuity of a minimum of 51% shareholding to offset carried-forward losses is relaxed for eligible startups if all company shareholders continue to hold those shares.

Govt. is widening the scope of Angel Tax to include non-resident investors. Levy of angel tax in the hands of private companies where consideration for issue of shares is higher than fair market value.  

As per the said section, the scope of this angel taxation specifically included only residents thus far.

However, the budget proposes to omit ‘resident’ from the said section with effect from 01 April 2024, thereby widening the ambit of taxation in the hands of startups to include investment received from non-residents.

Despite rapid modernization, India is deeply an agriculture-based economy. However, there are still a lot of relevant pain points within the sector that need to be solved to allow the industry to flourish. To facilitate this:

The government has created an Agriculture Accelerator Fund that will encourage new solutions and startups within the space and create a platform to promote information sharing amongst farmers.

Because of increased emphasis on digital payments, Govt. proposed the digitalization of 63,000 primary agricultural credit societies through an investment of INR 2516 crores through the Digital Agriculture Infrastructure Scheme.

Disease infestation has been a dire problem affecting 35% of total crop production. The Atma Nirbhar Clean Plant Program, with a budget allocation of Rs 2200 crore, will offer farmers access to disease-free planting material and other facilities.

The government has taken several steps to promote startups in the country. Under the Startup India initiative, the Fund of Funds for Startups (FFS) scheme, Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) are implemented to provide capital at various stages of the business cycle of a startup.

Green power was at the forefront of the 2023 Union Budget. The government is particularly keen on promoting solutions and encouraging people to avoid using non-green energy solutions. Govt. announced numerous policies to promote less disastrous alternatives – The National Green Hydrogen Mission with an allocation of Rs. 19,700 crores and 35,000 Cr. for the energy transition.

There have been few technological enhancements as pivotal as AI. Recognizing the sheer value that greater integration of AI can add to the economy, the government will create a National Data Governance Policy that will allow access to anonymized data and set up three AI research centers.

Indirect Taxes and Custom Duties were relaxed 

Indirect taxes like GST and Customs form a significant part of the government’s revenue and deeply impact daily lives and manufacturing costs. Here below are the changes announced in the Union Budget 2023:

Goods and Services Tax: ITC will not be available regarding goods or services used for activities relating to corporate social responsibility.

Customs duty: As part of rate rationalization of the customs duty rate structure, BCD, SWS, and AIDC rates on several goods, other than textile and agriculture, will be reduced to 13% from 21%. Details are awaited for the list of items covered under the 13% slab.

Certain items like polished diamonds, chemicals needed for petroleum products, camera lenses for cellular mobile phones, and steel scrap have been reduced, and eventually, these items will get cheaper.

Other things that will become cheaper include parts of open cells of TV panels, Denatured ethyl alcohol used in the chemical industry, and compounded rubber.

FM extended customs duty on camera lenses and their inputs or parts for use in the manufacture of the cellular mobile phone camera module reduced to zero and concessional duty on lithium-ion cells for batteries for another year.

Increase in CAPEX to boost Indian Infra:

Infrastructure is the backbone of any economy. To ensure that India is as robust as possible, the government has increased the capital expenditure allocation to Rs. 10 lakh crore, a massive 33% increase. It will significantly benefit logistics-heavy businesses and sectors in India and make transportation less hassle for Indian entrepreneurs. Reduction in logistics costs will give a much-needed boost to commerce in Tier 2 and 3 cities. 

Stepping into the future

Looking at the Union Budget 2023 highlights, the government has pushed financial inclusion and digitalization of finances across industries. In this Union Budget, the FM extended financial aid to businesses, digitalized the agriculture industry, relaxed many business regulations to attract FDI, and boosted capital expenditure to support business growth. In summary, the budget is aspirational and grounding, with a plan for sustainable development and making India an economic superpower. 

[indiabizness]

The #Budget2023 presented for #AmritKaal marks a pivotal moment for India, as the government sets its eye on building a prosperous India for all.. As per Budget, India's estimated growth of 7.0% this year despite the challenges posed by the pandemic, war & global slowdown is a great success. The budget presented by the finance minister, Nirmala Sitaraman sets a roadmap for a comprehensive plan for realizing the vision of India guided by the seven "Saptarishi" focus areas of inclusive development, reaching the last mile, infrastructure investment, unleashing potential, green growth, empowering the youth & strengthening the financial sector. A pro-growth budget with effective roadmap with numbers, the budget laid big focus on capital expenditure that has gone up by 33%. Amount of inclusiveness in this budget from medium to long-term perspective, especially given the global inflationary market, will help maintain fiscal discipline, lead to capacity building and help accelerate India’s growth prospects. The announcement of decriminalizing 3400 legal provisions may not be quantifiable in terms of numeric but is a huge positive step towards reducing compliance burden and enhancing ease of doing business. To address the 'access to credit' challenge & empower MSMEs, revamped Credit Guarantee Scheme will provide an infusion of Rs 9000 crore, enabling an additional collateral-free credit guarantee of Rs 2 lakh crore & lowering the cost of credit by 1%; this is great development for MSMEs that are still recovering from the impact of pandemic. PM Vishwa Karma Kaushal Samman has been introduced to help traditional artisans integrate into the MSME value chain, with financial support, training & market linkages provided. Also, the much-awaited income tax slab change is a huge tax relief for the salaried middle class and will help further boost spends and consumption. The focus of this budget is on wide-ranging reforms with the vision of a prosperous and inclusive India; Be it tax relief, ease of doing business, health & education, or #technology -driven 

sustainable development, there are things for everyone. Government's mission for Amrit Kaal includes a technology-driven and knowledge-based economy with a focus on facilitating opportunities to provide a strong impetus to job creation & strengthening macroeconomic stability. The Indian economy has not only made significant progress in Sustainable Development Goals but has also become more inclusive, making it a well-governed country on the path to continued growth.

[corpaidvishal]

Collateral Free Automatic Loans worth rs 3 Lakh crore for MSME’s Sector

Ministry of Micro, Small & Medium Enterprises (M/o MSME) envision a vibrant MSME sector by promoting growth and development of the MSME Sector. Rs 15,700 crore to be provided to MSME sector – more than double BE for 2020-21.

List of Announcements made by Government of India for MSME’s Sector

1.       Collateral Free automatic loans worth Rs. 3 lakh Crore for MSME’s with

·         100% Credit Guarantee

·         12 month moratorium on payment of principal

·         No guarantee Fee & Collaterals

·         Tenor – 4 years

·         To Benefit 45 Lakh MSME Units.

2.       Government of India to Support stressed MSME’s with infusion of Rs. 20,000 crore equity support through subordinate debt.

·         Stressed MSME’s or MSME with NPA loans will be eligible

·         More than 2 lakh MSME’s likely to be benefitted.

·         Government to refuse Rs. 4000 Crore in Credit Guarantee Trust Fund For MSE’s

 3.       Fund of Funds Created to infuse equity                 worth Rs. 50,000 crore in the MSME sector

·         A RSs. 10,000 crore Corpus fund created

·         To help potential MSME’s in Expansion

4.       Growth Beyond leaps and bounds with new defined MSME’s – Distinction between manufacturing and services MSE’s removed. Investment limit revised upwardly. Criterion of turnover added.

Breaking the Shackles of old definition, MSME’s to grow leaps and bounds

·         Micro Enterprises – investment upto Rs. 1 crore and Turnover upto Rs. 5 Crore

·         Small Enterprises – Investment upto Rs. 10 Crore and turnover upto rs. 50 crore

·         Medium Enterprises – investment upto Rs. 20 Crore and turnover upto rs. 100 crore

5.       In a major initiative, Global tenders to be disallowed for government tenders upto Rs 200 crore to enable MSME’s to participate in the government procurement process.

 6.       Government of India and CPSE’s to clear all receivables of MSME’s in the next 45 days.

7.       E- Market linkages for MSME’s across the board to provide marketing opportunities

Click here for More Updates at MSME Registration Online Consulting Services

More Announcements related to MSME’s Sectors are

·         Rs.2,500 crores EPF support for businesses and workers for three more months August, 2020. This will benefit more than 3.5 lakh units and 72 lakh employees.

·         Special Liquidity Scheme for Non-Banking Financial Companies, Micro-Finance Institutions, Housing Finance Companies worth Rs.30,000 crore.

·         To cater to liquidity needs of MSMEs, Partial Credit Guarantee Scheme 2.0 for NBFCs worth Rs.45000 crore introduced. Government of India to bear the first 20% of loss.

·         Major Relief to Contractors

All Central Agencies like Railways, Ministry of Road Transport & Highways, Central Public Works Dept, etc. to grant extensions of contracts up to 6 months without costs to contractor.

·         Expediting refunds to partnerships, proprietorship & LLPs will help the MSMEs immensely.

Source: Ministry of MSME

[amritpalsinghsachdeva]

Amritpal Singh Sachdeva - His forgetfulness resulted in creation of FREE Digital Cards Platform & App

Few years ago, Amritpal Singh Sachdeva (an Indian working in the UK) went for an important business awards function in London. It was quite an impressive gathering of influencers and opinion leaders of London. He met one of the most talked about entrepreneurs of the UK in that function who was keen to connect with Amritpal. However, Amritpal was unable to give him his business card. Simply because he had forgotten to carry them! He was not only embarrassed but regretful as well for missing such an important opportunity to network and cast his influence.

Had it been a stand-alone event, Amritpal would have forgotten it easily. He made the same mistake again after two months and ended up losing both his peace of mind and self confidence. His forgetfulness gave him guilt and sleepless nights. He spent some night searching for an alternative to a business card. Even the websites Google directed him to, didn’t solve his problem. It was in one of those nights he conceived the idea of Zozter. Zozter - A Free Business Card Platform was created initially to help people like him who arrive in important meetings and conferences without their CV, Resume or Business Cards. By putting in a lot of time, effort and resources he was able to develop Zozter as a business networking platform.

Creation of Zozter has been hailed especially by start-ups, MSMEs, professionals, consultants and freelancers because the platform allows them to create their brand digitally with its offering of paper-less, environmentally-friendly, customized and smart digital business cards FREE of cost. The portal Zozter is available as an App on both iOS and Android as well. Its user-friendly interface ensures that every user can receive his/her business cards even if they do not have the App installed on their Smartphone. Talking about how the idea was created and developed, Amritpal shared, “I must thank my family who in my moments of guilt and regret encouraged me to think of a digital solution for people like me who keep on forgetting their business cards every now and then. Later, I decided to enrich this platform with many features. Now, Zozter allows the users to create their business profile on the platform

detailing all the significant information that will add weight to their work including certificates, achievements, and glimpses of their work. The users can edit or share this profile within seconds as and when they want.”

What makes Zozter functionally impressive is the fact that it allows in-platform search about other business organizations, professionals, individuals, with little details of their industry. The added advantage is that it helps people find business solutions better than Google. For example, if you are looking for a printing company, simply type “Printer” or “Printing” and you’ll get a list of all the businesses/professionals on your screen which can be customized as per your geographical region and other preferences.

And since we are talking to a generation that utilises more than one gadget in their daily routine; Zozter digital business cards can be accessed, edited and shared from any smart device including smartphones, laptops, etc. This is indeed a big ecologically beneficial point considering Zozter’s contribution in saving paper and resources that go into the making of a physical business card. Amritpal smiles on being asked about Zozter’s environment-friendly features.

“I have grown up hearing and following the philosophy of Guru Nanak. Guru Sahib showed us the way to serve the humanity when he gave the world ‘Sarbat Da Bhala’ principle which means blessings for everyone. Zozter is an endeavour in that direction. I also firmly believe in Guru Sahib’s words ‘Pawan Guru Pani Pitah; Mata Dharat Mahat’; so Earth is the Mother and we must take care of it in any way possible. If through Zozter, I succeed in contributing to building a paper-less economy, I would be very happy.”

Indeed, Amritpal is as simple as he sounds. He was born and brought up in Chandigarh and came to London in 2001 at the age of 23. He began settling in this foreign country doing odd jobs. His first job was of a mail sorter and he doesn’t hesitate sharing that he wasn’t given better jobs because of his turban. He chose to withstand the pressure but did not change his Sikhi appearance. His commitment to work and pleasant nature helped him in getting better jobs. He was promoted from being a warehouse person to the General Manager of a company called SUN MARK LTD in London, within a span of 10 years. He was also nominated by the

company to get the Queens Award from Queen Elizabeth herself in the year 2016. Amritpal dedicates this venture to Lord Rami Ranger, his business acumen, vision and ever helping nature.

Amritpal is deeply influenced by the principles of Sikhism and wishes to contribute to both India and the UK through meaningful actions.

“I believe India is my mother and the UK is my father. While India gave me culture and values, Great Britain has given me many opportunities and platforms to prove myself. Zozter is dedicated to both the countries and to the spirit of innovation. My dream is to see Zozter playing an active role in the journey of creation of many new and successful startups and new-age entrepreneurs.”

[hybiz12]

Andhra Pradesh’s government unveiled its new Industrial Policy 2020-23 identifying 10 thrust areas to propel economic growth, with manufacturing as the high priority sector that would create large scale employment. The government has identified industrial zoning as a key focus area to ensure planned industrial development and provide a risk-free, investment-friendly environment for setting up and operating industries in the state with minimal impact on the environment. Minister for Industries Mekapati Goutham Reddy unveiled the new industrial policy in Vijayawada in the presence of leading players from the industry, academia, and trade associations. The minister said that the new industrial development policy will be focusing on balancing growth across regions and on reducing the cost of doing business and helping MSMEs improve their capabilities to survive in the competitive world. As of 2018, Andhra Pradesh has 70.9 percent of its total population in the working-age and the state stands second in the country in this aspect. Stating that utilizing the workforce was their top priority, the minister said promoting skill development and entrepreneurship was also on their list. As many as 30 skill development colleges will be arranged to help youth achieve their aspirations and live a better life, he said, adding that they will be the base for growth in the state. The policy will promote value addition and cutting-edge industries in 10 sectors including toys and furniture, footwear and leather, machinery and precision equipment, aerospace and defense, apart from pharma, textiles, automobile, electronics, and petrochemicals. Special efforts will be put in empowering women entrepreneurs of the backward communities and providing ready-built facilities to the budding industrialists. The policy also envisages implementing industrial zoning to ensure planned industrial development and to provide a risk-free investment-friendly environment for setting up and operating industries, with minimum impact on the environment. The land allotment on lease-cum-buy-out model has been given approval in the policy. “De-risking the investments is the cornerstone of the new industrial policy. They are introducing ‘YSR AP One’, a multi-faceted business enablement center that acts as a one-stop resource and support center for industries. ‘YSR AP One’ would provide handholding support (to investors) during pre-establishment and setup of industrial units, post-setup support, backward and forward linkages, and access to market and new technologies among other things. A multi-faceted business enables center, YSR AP One will be set up to assist investors throughout their groundwork. YSR AP One will provide services such as investor facilitation, market research, marketing and branding, sales support, incentive management, and special category cell. The minister added that the major incentive a prospective investor gets, under the new policy, is reimbursement of State Goods and Services Tax for five years (capped to Fixed Capital Investment) for medium, large and mega industries linked to employment creation. The current lease and buy models for land allotment are being replaced with a composite lease+buy model, where an industrialist gets to purchase the land after successfully running his unit for 10 years. The manufacturing sector, as an employment provider, remains a high priority for the state. The government will undertake structural reforms to accelerate industrialization in the state. The thrust areas identified by the government, under the new industrial policy include food processing, pharmaceuticals and biotechnology, textiles, electronics, footwear and leather, toys and furniture, petrochemicals, aerospace and defense, automobiles and components, machinery, precision equipment, and mineral-based industries. The Federation of Small and Medium Enterprises of India (FSME India) hailed the New Industrial Development Policy for 2020-2023 unveiled by the Andhra Pradesh government. “The New Industrial Development Policy announced by the YS Jagan Mohan Reddy government is a practical exercise. The State government has promised what it can deliver claimed the FSME representative. This policy will definitely fuel industrial growth and attract more investments into the State.

[shivangisaxena04]

COVID-19 Pandemic and the Middle East

The effect of COVID-19 and the oil value plunge in the Middle East has been substantial and could increase.

The pandemic is causing significant economic turmoil in the region through simultaneous shocks 

Drop in domestic and external demand

Reduction in trade

Disruption of production

Fall in consumer confidence and tightening of financial conditions.

Reduction in tourism revenue

Chinese buyers are involved in a significant portion of real estate transactions in Dubai. With China still recovering from the virus, those Chinese buyers may postpone making new purchases.

Given the bubble economy of Dubai with its glut of property, this city-state is confronting economic catastrophe.

The UAE also had to cancel its Expo 2020 and Saudi Arabia not allowing the annual haj pilgrimage to take place, hundreds of millions of dollars were lost for both states. 

Oil is the center commodity for most Gulf Cooperation Council (GCC) states for exports. Indeed, even before the pandemic, the cost of a barrel of oil was on its way down, generally as an outcome of U.S. shale oil creation and option sustainable power source assets going ahead line.

The impact of the pandemic will further depress the oil price as demand dries up. Lower export receipts will weaken external positions and reduce revenue, putting pressures on government budgets and spilling over to the rest of the economy.

If one considers the macro picture, there’s a potential huge slowdown of the world economy in the coming years.

For countries in this region, especially ones which are fragile and conflict-ridden, such as Iraq, Syria, Yemen, and Libya, the pandemic is a massive near-term challenge that is aggravating existing structural weakness like lack of health and welfare infrastructure like hospitals and sanitation facilities.

More than any other region the middle east as well as North Africa are facing 2 distinct but related shocks--the fall of oil price as well as the pandemic crisis.

When the immediate crisis from the corona virus has begun to dissipate, consideration could be given to more conventional fiscal measures to support the economy, such as restarting infrastructure spending, although fiscal space has been significantly eroded over the last decade.

Several countries—Kazakhstan, Qatar, Saudi Arabia, and the UAE —have announced large financial packages to support the private sector. These packages include targeted measures to defer taxes and government fees, defer loan payments, and increase concessional financing for MSMEs.

[simplirp]

Best SME ERP solution in india

simpliRP  Best SME ERP solution in india  is the Robust & Economical ERP for MSME / SME / SMB Industry. It has been our continuous endeavor to simplify the industrial processes. Lean & Robust process is the requirement of the day. 

An ITEM is the core element in simpliRP  ERP, for MSME / SME / SMB. The business revolves around ITEM., which is the element in INVENTORY System. An ITEM is called as ITEM CODE / ITEM NAME / MODEL NO. / PART CODE / PART NAME / SKU [Stock Keeping Unit] by Manufacturing Sector.  An item master is a key information in any inventory system. This ITEM MASTER includes the description, unit of measure, category, HSN, Barcode and so forth for an item. An item master is the  information source for activities such as material requisitions, purchases, sales, production issue, production receipt, QA parameter definitions, delivery challans, invoices etc.,

POINTS TO PONDER :

In any organization, defining item master is the toughest in their process, physically.

For Understanding, We can segregate into three major kinds,  for purpose of creating Item Master:

Purchased Items.

Invoiced items

Internal items

Purchased Items : always maintain the ITEM NAME or ITEM CODE as mentioned in supplier invoice. This will enable smooth GST  input credit. This will also facilitate smooth GST Audits, if any.

Invoiced Items : always maintain the ITEM NAME or ITEM CODE as mentioned in the Customer Order . These Invoiced Items are either finished goods or scrap. [Assets are not considered here]

This will enable customer system and your system have same matching ITEM NAME /  ITEM CODE. So that there is no painstaking month end matching of Invoices with Customer Order. And it will also ensure, the payment cycle is smooth, seamlessly.

Internal items : in this, you can maintain the ITEM NAME or ITEM CODE as recognized by your internal employees or internal process.

In case of assets or tool , ensure ITEM CODE or ITEM NAME contains the serial number , make and model of that asset or tool.

EXAMPLE OF NEW ITEM CODE FOR ASSET : USHA FAN RACER 1200MM BROWN SNO 123456

EXAMPLE OF NEW ITEM CODE FOR TOOL : DIGITAL VERNIER CALIBER X 1234 SNO 6547229

What is ITEM CODE / ITEM NAME / MODEL NO. / PART NO.  in simpliRP  ERP for sme in india  ?

ITEM NAME or ITEM CODE or MODEL NO. or PART NO. all are same.

ITEM NAME / ITEM CODE / MODEL NO. is UNIQUE name you can give to the item

Stock will be maintained to this ITEM CODE / ITEM NAME.

This ITEM CODE / ITEM NAME will appear in the invoice.

 ITEM NAME or ITEM CODE or MODEL NO. or PART NO. cannot be duplicate.

For Each Process output item, you need to create separate ITEM NAME.

Example. , in simpliRP  ERP   : If there is process of converting a 22MM SS ROD into 0.75 INCH BOLT

STEP 1

PROCESS NAME

ITEM

1

RAW MATERIAL

22 MM SS ROD

2

CUTTING

CUT ITEM

3

FORGING

FORGING ITEM

4

FINISHED GOODS

0.75 INCH BOLT

The above example* has to be defined as follows in system :

#

ITEM NAME to be created

in the system

TYPE OF ITEM

UNIT

1

22 MM SS ROD

RAW MATERIAL

KG

2

0.75 INCH BOLT CUTTING

WIP

NUMBER

3

0.75 INCH BOLT FORGING

WIP

NUMBER

4

0.75 INCH BOLT FG

FINISHED GOODS

NUMBER

*just example, not a real process.

Please note, the process name can be added to the FG Part Number [FG ITEM NAME / FG ITEM NUMBER], so that they get grouped automatically by process and final ITEM NAME.

Why we should not use special characters in Item Master creation.

Please do not use any special characters like “!@#$%^&*()+{}[]|\/”,’~`. this will create problems while doing transactions or GST return filing

however you can use - (minus) or . [dot] symbol.

WHY You should never DELETE or EDIT an ITEM CODE / ITEM NAME . , in simpliRP  ERP   ?

A transaction may have taken place on an ITEM CODE / ITEM NAME. if we delete it, these transactions will become headless.

If you edit an ITEM CODE / ITEM NAME, the value of that item will change. For example, if you change the "USHA FAN " -- > "USHA FAN REGULATOR", it will change the value to tenth of its original value.

In case you do not want that ITEM NAME / ITEM CODE, you should make it inactive in that system.

This solution is available Off-The-Shelf along with the simpliRP   ERP  .

Change is Good

 a Robust, Economical & Simple ERP for MSME / SME / SMB. simpliRP ERP does not require USER ACCEPTANCE TESTING. With little training, MSME/ SME / SMB can start using the ERP right from day one. It saves lot of time & energy of MSME / SME / SMB , can implement the ERP swiftly. Please visit us at www.simplirp.com and please have glance on the product. simpliRP ERP is available ON CLOUD also on very economical prices.

Improving business processes is a requirement in today’s business scenario, to stay competitive. In a time when  GST pressures & Slow-Down Fear mongers, selecting simpliRP ERP will ensure lean organization and success. simpliRP ERP allows you to take time to make the changes incrementally. Organizations will find the true power available to them.