Tag: Aatmanirbhar Bharat

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MSME

MSMEs in India Will Get E-Portal To Sell Their Products, Govt Is Working With SBI To Launch Online Facility, Says Nitin Gadkari

Nitin Gadkari (Photo Credits: Facebook)

Mumbai, January 23: With an aim to facilitate the Medium, Small and Micro Enterprises (MSMEs) in India to sell their products, the government is working with State Bank of India (SBI) to launch an E-portal on the lines of Amazon, Transport & MSME Minister Nitin Gadkari said. At a webinar organised by All India Association of Industries President Vijay Kalantri, Gadkari said that Amazon.com generates a business of around Rs 70,000 crore annually for Indian MSMEs at present. He added saying that this can be enhanced by a dedicated e-Portal to enable them complete with global brands.

Gadkari urged the MSMEs to spread their wings and said they must form joint ventures with start-ups or technology transfers from institutions like IITs or IIMs to compete on a global scale. The Minister asserted that the government aims to increase the share of MSME sector in total exports from the current 48 percent to 60 percent in the coming years. Gadkari said that this would go a long way in boosting the Atmanirbhar Bharat programme of Prime Minister Narendra Modi. He said in order to protect the interests of MSME vendors, the government has mandated public sector undertakings to settle their dues within 45 days of sale and also plan to introduce legislation to this effect.

On similar lines, the union minister said that the government is making efforts to increase the turnover of the village industry from the current Rs.80,000 crore to Rs.5-lakh-crore in next couple of years which will create jobs in rural, agricultural and tribal segments and eradicate poverty. Gadkari further highlighted the initiatives and innovations by his ministry, Gadkari said that they encourage development of high-quality, cost-effective but sustainable local products as import substitutes.

“Local MSMEs have developed indigenous paint, Khadi Prakritik Paint made with cowdung which is 50 percent cheaper than top brands, but is still world-class. A small unit can produce this paint with a capital investment of barely Rs. 15 lakhs,” Gadkari said.

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Startup

National Startup Awards 2021: DPIIT Invites Entries to Reward Outstanding Startups; Know Eligibility, Prize and How to Register Online at startupindia.gov.in

Startup
Startup

The Department for Promotion of Industry and Internal Trade (DPIIT) has launched the second edition of the National Startup Awards (NSA) 2021 and have called for entries to reward the outstanding startups. This initiative by the DPIIT aims to acknowledge  the efforts, initiatives and resilience demonstrated by the startups over the period of unprecedent challenges during the pandemic.

This year, additional categories have been introduced to NSA 2021. The NSA aims to recognise innovations focussed towards indigenisation of key products essential for realisation of an Atmanirbhar Bharat.

Here’s How to Apply for National Startup Awards (NSA), Eligibility and More

  1. Startups can register for the National Startup Awards (NSA) 2021 on www.startupindia.gov.in. The applications for the awards are open till January 31, 2021.
  2. The awards for startups will be given in 49 areas classified into 15 broad sectors. The 15 sectors are Agriculture, Animal Husbandry, Drinking Water, Education and Skill Development, Energy, Enterprise Systems, Environment, FinTech, Food Processing, Health and Wellness, Industry 4.0, Security, Space, Transport and Travel.
  3. In addition, there are six special awards for startups from educational institutions, making impact in rural areas, women entrepreneurs, potential for import substitution, innovation for combatting COVID-19 and content delivery in Indic languages. It will also reward exceptional incubator and accelerator as key building blocks of a robust startup ecosystem.
  4. All the other details of the application process may be seen at www.startupindia.gov.in.

Awards for National Startup Awards (NSA) 2021:

  1. A cash prize of Rs 15 lakh each will be awarded to one winning incubator and one winning accelerator as well.
  2. A cash prize of Rs 5 lakh each will be awarded to the winning startup in each area.
  3. The winner and two runners up will also be given opportunities to present their solutions to relevant public authorities and corporates for potential pilot projects and work orders.
  4. They will also be given priority for participation in various national and international startup events. Click Here for more details on awards.

DPIIT had initiated the first ever National Startup Awards in 2019 with a view to recognize and reward outstanding startups and ecosystem enablers that are building innovative products or solutions and scalable enterprises, with high potential of employment generation or wealth creation, demonstrating measurable social impact. Taking forward the overwhelming success of the first edition of NSA, DPIITnow announces the launch of second National Startup Awards 2021.

Categories
MSME

MSME Sector in India Gets Major Boost As Banks Sanction Rs 2.05 Lakh Cr Loans to 81 Lakh MSMEs Under Credit Guarantee Scheme

New Delhi, December 12: With an aim to help the MSME sector which was impacted by disruptions caused due to the coronavirus pandemic, the Finance Ministry on Friday said banks have sanctioned loans worth Rs 2,05,563 crore to about 81 lakh accounts under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector. In a series of tweets, the Finance Ministry said that as many as 40 lakh MSME accounts have received Rs 1,58,626 crore till December 4. Another tweet informed that Rs 3 lakh cr Collateral-Free Guaranteed Loans – Budgetary provision of Rs 4,000 crore made for the Scheme in First Supplementary Demand for Grants for FY 2020-21.

While announcing the Aatmanirbhar Bharat Package 3.0, Finance Minister Nirmala Sitharaman had said that Rs 2.05 lakh crore sanctioned and Rs 1.52 lakh crore disbursed under ECLGS 1.0. “As part of the Atmanirbhar Bharat Abhiyan 3.0 (announced on November 12), ECLGS Scheme has been extended through ECLGS 2.0 for the 26 stress sectors and health care sector with credit outstanding of above Rs 50 crore and up to Rs 500 crore as on February 29, 2020,” a tweet said. Credit Guarantee Scheme: Banks Sanction Rs 1.86 Lakh Cr to 50 Lakh MSMEs Impacted by Slowdown Amid COVID-19 Pandemic.

The Finance Ministry said that under ECLGS 2.0, entities with outstanding credit above Rs 50 crore and not exceeding Rs 500 crore as on February 29, 2020, which were less than or equal to 30 days past due as on February 29, 2020 are eligible. The loans provided under ECLGS 2.0 will have a five-year tenor, with a 12-month moratorium on repayment of principal. Meanwhile, the entire Scheme (ECLGS 1.0 and ECLGS 2.0) valid till March 31, 2021, it said.

As part of the Aatmanirbhar Bharat Package, the government has announced to cover 2.5 crore farmers under the KCC scheme with a credit boost of Rs 2 lakh crore through a special saturation drive.