Tag: Atmanirbhar Bharat

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Business motivation

5 Low-Investment Business Ideas For Small Towns & Cities In India

5 Low-Investment Business Ideas For Small Towns & Cities In India
5 Low-Investment Business Ideas For Small Towns & Cities In India

With 70% of the Indian population residing in tier II, tier III cities and small towns, small business ideas in these regions are the need of the hour. This also offers multiple opportunities for new-age entrepreneurs. The government is also promoting the idea of ‘Atmanirbhar Bharat’, which encourages the young guns of India to take a risk and become assertive in their approach.

Most of the businesses in these areas are directly or indirectly dependent on agriculture. Thus, it gives lots of opportunities to start new businesses in these areas.

‘Success may come to the first movers, but success stays with the fast movers’, says Dr. Vivek Bindra- the best business coach in India. So if starting your own business is your absolute dream, here is a list of small business ideas that you can explore in the small town:

For young entrepreneurs who are passionate about making their mark, here is a list of low-cost business ideas:

1. Retail Stores

If you will look closely, you will notice that many popular brands are making their way to the rural areas of India. While the market in the big cities has reached its saturation point, in small towns it is still at a development stage. Though the majority of the population is residing in rural India, there is a lack of retail outlets that are well-planned and cater to the different needs of the customers. One such option is to open a Kirana store. A very feasible option, Kirana stores are never out of demand.

2. Flour Mill

Opening a flour mill is another low-investment business idea that can be started with minimum investment. A flour mill can be beneficial in a small town as there is an adequate supply of the raw materials like grains, cereals, oats, barley, sorghum, and spices like turmeric, and chilli etc.

Once your business begins to flourish, you can also supply the products to nearby cities and towns at a good profit. It is a good business opportunity and requires limited money. It also requires a good electrical connection to start and run the business. To expand your business operations, you can watch great informative videos by Dr. Vivek Bindra- the best business motivational speaker in India.

3. Become a Translator

Love learning new languages? Then becoming a translator is an excellent business idea for young and aspiring entrepreneurs in India. Various companies in the country are looking to expand their reach globally. They are willing to pay people who can speak foreign languages like Japanese, Chinese, German and Spanish.

So if you are interested in learning a foreign language, you can make good money from this by offering your translation services to individuals as well as companies.

4. Fitness Guru

Today, people are becoming health conscious more than ever. Thanks to our unhealthy lifestyle and hectic work schedules, more and more millennials are turning towards fitness trainers for good health.

If you are crazy about physical fitness, you too can become a fitness trainer. There are many certification courses available as well. You can set-up a gym and become a qualified fitness guru.

5. Online Tutor

With BYJU`s joining the Unicorn Club in 2020, online education has become a popular thing. If you have proficient knowledge about a certain subject, why not use it constructively? Due to the pandemic, many students are looking for a subject matter expert to help them in their studies. Becoming an online tutor is an excellent business idea that is profitable and involves no risk. Your subject knowledge can help you earn handsome money.

If 9 to 5 desk jobs do not excite you, fuel your entrepreneurial skills with any business idea that has good prospects. Keep your target audience in mind and research well before making any decision. However, with proper guidance and expert knowledge, you can reach your goal quickly.

What does it take to become India`s no. 1 entrepreneur? Deep insights of great mentors who are ready to help you throughout your journey! And our Business Coaching Program that provides you exactly what you require to make it successful. Why not connect with us for more information?

Take the first step towards your brighter future, by clicking here: https://www.badabusiness.com/BCP-Event/?pp_code=BHBB000078&ref_code=SM

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MSME

Govt Announces The Inclusion Of Retail & Wholesale Trades Under MSMEs

Govt Announces The Inclusion Of Retail & Wholesale Trades Under MSMEs
Govt Announces The Inclusion Of Retail & Wholesale Trades Under MSMEs

Minister of MSME and Road Transport and Highways Shri Nitin Gadkari announced revised guidelines for MSMEs with the inclusion of Retail and Wholesale trades as MSMEs. With this announcement, the retail and wholesale traders will now also get the benefit of priority sector lending under RBI guidelines.

He also said that earlier both the retail and wholesale trade sector was left out of the ambit of MSMEs. But now the revised guidelines will benefit around 2.5 crore retail and wholesale traders, and will also allow them to register on the Udyam portal.

Commenting on the development, the Confederation of All India Traders (CAIT) said, with this decision, traders will be able to avail requisite finances from banks and financial institutions under priority sector lending.

The traders can now avail the benefits of several other government schemes for MSMEs, he also added in his statement.

The move has an immediate impact on smaller retailers & wholesalers with businesses up to Rs 250 crore of turnovers in availing immediate-term finance as part of various schemes announced under Atmanirbhar Bharat.

The new guidelines received a warm welcome from the retail and trade associations stating that this will enable a large number of traders to get access to the crucial capital that has been impacted greatly due to the COVID 19 pandemic.

All the measures that were announced for the MSME sector in the past year will now also apply to the retail and wholesale traders as well. This landmark decision by the central government will have a structural impact on the sector and will provide better funding options for businesses that want to get structured.

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Business motivation

Ease of Doing Business and Ease of Living Among Government’s Priority for India’s Economic Growth, Says PM Narendra Modi

Business Tips | Representational Image Only (Photo Credits: Pexels)

New Delhi, February 20: Prime Minister Narendra Modi on Saturday stressed the need for a coordinated approach among the states and the Centre to achieve the ‘Atmanirbhar Bharat’ (self-reliant India) goal. Speaking at the sixth meeting of the Governing Council of NITI Aayog, the Prime Minister said that ‘ease of doing business and ease of living’ is also among the government’s priority to a strong country’s economy. He made a strong case for repealing archaic laws for ease of doing business in India and said the centre and states need to work closely to boost economic growth.

Praising the Union Budget 2021-22 which was presented by Finance Minister Nirmala Sitharaman earlier this month, the Prime Minister said that people have made up their minds about what they want. He stressed on ‘zero defect, zero effect’ mantra which he gave in August 2014 to Indian entrepreneurs for better products–a direct reference to the need to make things without causing environmental harm.

During his address, the Prime Minister said that ‘Atmanirbhar Bharat’ campaign is the way to build an India that produces not only for its needs but also for the world, and these productions will also stand the test of world superiority. To achieve the goal, the Prime Minister added there is need for a better coordination among Centre as well as states and increase export.

The Prime Minister stressed on the policy framework and cooperation between the Centre and states, saying “coastal states are a fine example”. “Exports from the blue economy have unlimited opportunities. Why shouldn’t our coastal states take extra initiatives for the same?” He added saying that India managed to build a good image internationally during the Covid-19 period because the central and state governments worked together for the betterment of people.

 

 

Categories
Business motivation

Startup India Scheme: 69 Startups Registered in J&K With an Aim To Enable Startup Ecosystem and Foster Innovation in the Region

Startup
Startup (Photo Credits: Pixabay)

Srinagar, February 10: The Startup India Scheme, which is an initiative by the Government for generation of employment and wealth creation, is gaining momentum. The goal of Startup India is the development and innovation of products and services and increasing the employment rate in India. In Jammu and Kashmir, as many as 69 startups have been registered in Jammu and Kashmir under the Startup India scheme, officials said. These startups aim to promote and boost start-up ecosystem across the region.

According to data from the Jammu and Kashmir Entrepreneurship Development Institute (JKEDI), 69 startups have been registered in the Union Territory. At present, the J&K government is focussing on several sectors including food processing, agriculture, renewable energy, handicrafts and handloom for promoting startups.

In a bid to enable the startup ecosystem and create awareness, outreach, and scouting of startups, Startupjk.com has also been made live. To foster the growth of startups in the region, the Central Government has announced a Rs 945-crore Startup India Seed Fund Scheme (SISFS). This will be operational from April 1, 2021, to 2025. In the same light, the Jammu & Kashmir administration is working to encourage startups and foster innovation, thereby creating jobs and boost economy.

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Finance

Union Budget 2021 Should Focus More on Growth Recovery; Fiscal Deficit May Fall to 6.2 Percent in FY22, Says Report

budget 2021-2022

Mumbai, January 28: The annual Union Budget is round the corner. The Union Budget is slated to be presented on Monday, February 1, 2021 while the Economic Survey will be tabled on Friday, January 29, 2021. All eyes will be on the forthcoming Union Budget as it is expected to focus more on putting the economy back on track. According to a report by India Ratings, the focus of the budget will be to get back things to normalcy and not too much on arresting fiscal deficit, which is seen at 6.2 percent in 2021-22, down from 7 percent this year.

The Union Budget 2020-21 had estimated fiscal deficit at Rs 7.96 lakh crore or 3.5 percent of GDP but India Ratings sees it printing in at Rs 13.44 lakh crore or 7 percent if the government cleared its payables and roll over some portion of expenditure to 2021-22.

India Ratings Chief Economist Devendra Pant said that the 2021-22 budget is likely to project a fiscal deficit of 6.2 percent but that will be achievable if nominal growth comes in around 14 percent and real growth prints in at 9.5-10 percent. The study pegged growth at 9.6 per cent for 2021-22 and (-)7.8 per cent for the current financial year 2020-21.

The report said that the fiscal impact of the economic packages worked out to be about Rs 3.5 lakh, or 1.8 percent of GDP. Even without this package, Ind-Ra had estimated that FY21 will witness a revenue shortfall of Rs 60,000 crore due to aggressive estimation of revenue receipts, it added. The government adopted a lose fiscal policy due to the coronavirus pandemic and announced a number of policy measures under Atmanirbhar Bharat packages to support the economy. The report adds that as per the grant-wise expenditure trend, the report estimates revenue expenditure in 2020-21 to be Rs 26.65 lakh crore as against a Budget Estimate of Rs 26.30 lakh crore.

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Strategy

Atmanirbhar Bharat Is About Creating Globally Competitive Enterprises, Says PM Narendra Modi

Narendra Modi (Photo Credits: Facebook)

New Delhi, October 28: In a major boost to the government’s ‘Atmanirbhar Bharat’ initiative, Prime Minister Narendra Modi called upon exporters to create ‘globally competitive’ enterprises in India in the spirit of his flagship mission. In his message to the EEPC India, Modi said that the ‘Atmanirbhar Bharat’ is about creating globally competitive enterprises in India. The four-day virtual expo opened on Tuesday.

The Prime Minister made this announcement during the inauguration of the engineering exporters’ apex body, EEPC India’s first virtual exhibition, ‘India Subcontracting Expo 2020’ for overseas buyers. During his message, the Prime Minister conveyed that science and engineering have a major role in realising the objectives of the ‘Aatmanirbhar Bharat’ programme.

The Prime Minister said that India is creating the right ecosystems for local manufacturing and supply chain. Modi said that technology has become an enabler in the wake of challenges posed by the COVID-19 pandemic.” Digital tools have guided and helped in transforming such challenges into opportunities. The world requires skilled hands and we in India have the talent to cater to these global needs,” he said.

According to EEPC India, as many as 100 engineering exporters would be showcasing their products and technologies to major buyers from Europe, including the UK through a virtual exhibition, seeking to bag manufacturing contracts, giving a boost to the ‘Make In India’ and ‘Aatmanirbhar Bharat’ programmes.

According to a report by IANS, the virtual exposition platform sports several features like 24×7 access for buyers and sellers, virtual B2Bs, chat rooms, among other. Besides, the CXO Forum would be held with a theme-India-EU advanced opportunities for business cooperation in COVID-19 world.

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MSME

MSME Sector to Grow and Contribute to Job Creation With the Help of Structural Reforms Taken by Modi Govt, Says Finance Ministry Report

Business in India | Representational Image Only (Photo Credits: Pexels)

New Delhi, October 6: The Finance Ministry on Monday said that the major structural reforms launched by the Modi government in agriculture markets, labour laws provide unparalleled opportunity for the MSME sector to grow and prosper. These reforms will in turn contribute to job creation in the primary and secondary sectors. A report by the Finance Ministry stated that the historic labour reforms will benefit MSMEs to increase employment, enhance labour productivity and thereby wages in MSMEs.

According to a report by PTI, the Finance Ministry said that important structural reforms that have been taken by the government to ease the risks posed by COVID-19 pandemic will strengthen India’s economic fundamentals and ensure long-term sustained growth. “The enabling policy environment and initiatives taken by all stakeholders to seize the available opportunities will actualise the growth potential of the Indian economy,” the monthly economic report prepared by the Economic Affairs Department of the Finance Ministry said.

The report further said that the sustained spread of the virus poses a downside risk to short-term and medium-term growth rate, adding that the government has strategically undertaken various important structural reforms, encompassing various sectors, to combat these risks. Meanwhile, the implementation of ‘Atmanirbhar Bharat’ package and unlocking of the economy have ensured that economic recovery in India has gained momentum.

The PTI report adds that as on September 25, India’s foreign exchange reserves stood at USD 542.02 billion, equivalent to more than 13 months of imports. India”s probable growth path is visible in this assessment.

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MSME Startup

NTPC Power Plants to Offer Lands for Industrial Parks of MSMEs Under ‘Atmanirbhar Bharat’ Initiative

NTPC power plant. (Photo Credit: Facebook)
NTPC power plant. (Photo Credit: Facebook)

New Delhi, September 22: With an aim to boost to the government’s vision of ‘Atmanirbhar Bharat’ and ‘Make in India’ initiatives, National Thermal Power Corporation Limited (NTPC) has thrown open a vast land bank within its power plants to Indian firms willing to set up industrial parks and manufacturing facilities.

The country’s largest power producer has also invited expression of interest (EoI) from companies and MSMEs for setting up energy-intensive manufacturing plants. The plants for which the EoI has been issued include bulk chemicals, geopolymer, cooling & heating solutions, aluminium, mineral processing (ceramics, tiles, pottery, brick, glass etc), metallurgical and metal industries (foundries, forging, alloys, heat treatment, steel rerolling, etc).

The NTPC in its statement had stated that the pilots would be set up in the NTPC Thermal Power plants at Solapur (Maharashtra), Kudgi (Karnataka) and Gadarwara (Madhya Pradesh). Adding more, the company statement said, “These industrial parks will be subjected to requisite approvals from respective state and central government. NTPC will process these approvals based on responses received in the EoI.”

Apart from this, NTPC’s power plants across the country have evolved into economic centres with robust infrastructure system in place. With this, NOTC is exploring ideas to improve utilisation of land within its plant locations for enhancing economic activity.

NTPC, though it initiatives, will also provide reliable electricity supply at competitive prices to industrial parks. Along with this, adequate water supply, accessibility through road and rail network, robust connectivity with internet lease lines, accessibility to the township, medical facilities and the local market would also be provided to the SMEs. However, NTPC will enter into a separate agreement with prospective entities for allotment of spaces.

Categories
Finance Strategy

MSME Ministry Rolls Out New Guidelines for Pottery, Beekeeping Activities to Rejuvenate Grass Root Economy in India

Pottery (Photo Credits: Pexels)

The Ministry of Micro Small and Medium Enterprises (MSME) on Thursday announced new guidelines for two more schemes which include ‘Pottery Activity’ and ‘Beekeeping Activity’. The Ministry said that for pottery activity, the government will provide assistance of pottery wheel, clay blunger, and granulator. A total of 6,075 traditional and others (non-traditional) pottery artisans/rural unemployed youth or migrant labourers will be benefited from this scheme. “It will also provide wheel pottery training for traditional pottery artisans and Press Pottery training for pottery as well as non-pottery artisans in Self Help Groups,” it added.

The Ministry had few days back announced expanding and doubling the support to Artisans who might be interested in making Agarbatti. These new initiatives of the Ministry with beneficiary oriented Self-Employment schemes, are aimed at rejuvenating the grass root economy contributing to Atmanirbhar Bharat Abhiyan.

  1. For ‘Pottery Activity’ Government will provide assistance of pottery wheel, Clay Blunger, Granulator etc.
  2. It will also provide Wheel Pottery Training for traditional pottery artisans and Press Pottery training for pottery as well as non-pottery artisans in Self Help Groups.
  3. There is also provision to provide Jigger-Jolly training programme for pottery as well as non-pottery artisan in Self Help Groups.

In case of the Pottery improvements in the Scheme are:

  • Skill-development training on focused products like garden pots, cooking-wares, khullad, water bottles, decorator products, mural, etc. to SHGs of pottery-artisans has been introduced
  • Focus of the new Scheme is to enhance the production, technical know-how of pottery artisans and efficiency of potter energy kilns to reduce cost of production
  • Efforts will be made to develop necessary market linkages by tying up with exports and large buying houses

For ‘Beekeeping Activity’:

  1. In case of the Scheme for ‘Beekeeping Activity’, the government will provide assistance of Bee boxes, Tool kits etc.
  2. Under this scheme, Bee boxes, with Bee colonies, will also be distributed to Migrant workers in Prime Minister Gareeb Kalyan Rozgar Abhiyaan (PMGKRA) districts.
  3. A 5 days’ beekeeping training will also be provided to the beneficiaries through various Training Centres /State Beekeeping Extension Centres/ Master Trainers as per prescribed syllabus.

A total of 6,075 traditional and others (non-traditional) pottery artisans/Rural Un-employed youth/Migrant Labourers will get benefitted from this Scheme. As Financial support for the year 2020-21, an amount of Rs.19.50 crore will be expended to support 6,075 artisans with a Centre of Excellence, with MGIRI, Wardha, CGCRI, Khurja, VNIT, Nagpur and suitable IIT/NID/ NIFT etc, for product development, advance skill programme, and quality standardization of products.

Additional amount of Rs 50.00 crore has been provisioned for setting up of clusters in Terracotta, Red clay pottery, with new innovative value added products to build pottery to crockery/ tile making capabilities, under ‘ SFURTI’ scheme of the Ministry.

To begin with, Scheme proposes to cover, during 2020-21, a total of 2,050 Beekeepers, Entrepreneurs, Farmers, Unemployed Youth, Adivasis will get benefitted from these projects/programme.

For this purpose a financial support of Rs 13 crore during 2020-21 has been provisioned to support 2,050 artisans ( 1250 people from Self Help Groups and 800 Migrant labourers), with a Centre of Excellence with CSIR/ IIT Or other Top class Institute to develop honey based new value added products. Additional amount of Rs. 50.00 crore has also been kept for developing Beekeeping honey clusters under the ‘ SFURTI scheme of the Ministry.

It may be recalled that the initiative to rejuvenate Agarbatti making at grass-root level few days back, is a step which also directed towards make India Aatmnirbhar in supply of this household consumption item. The interventions include the support to the artisans through training, raw material, innovation in the fragrance & packaging, use of new / alternate raw materials, marketing and financial support.

The program will immediately benefit about 1500 artisans, in providing sustainable employment with increased earnings. Artisans living in rural areas, Self Help Groups (SHGs) and ‘Migrant workers’ will particularly benefit from the program. In addition to enhancing employment opportunities locally, the programme will also help in capturing the export market in such products.

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Startup

Repos Energy, a Ratan Tata-Backed Energy Distribution Company in Pune, Registers Over 150 Fuel Startups in Less Than a Month

Startup (Representational Image Only, Photo Credits: NeedPix.com)

In a major milestone and a step towards Atmanirbhar Bharat, Repos Energy, a Pune-based energy distribution company, has registered over 150 fuel startups in less than a month. Reports inform that these startups would carry on door-to-door delivery of diesel through mobile petrol pumps. Repos Energy startup, which was founded in 2017, is based out of Pune in Maharashtra. It has been funded by Chairman Emeritus of Tata Sons, Ratan Tata. At present, the firm operates in over 150 cities of India. The firm said that as per industry experts, this move is expected to garner around Rs 9,000 crore of investment.

According to a report by IANS, Repos Energy will call them ‘fuel startups’ and will provide them with the entire support system. Repos will provide these new startups with end-to-end solutions for buying the mobile petrol pumps along with sharing the know-how. Some of the fuel startups that have registered with Repos include- Easy Diesel from Pune, Nuvera Energy from Mumbai, Auro Fuels from Bengaluru, AMA Fuels from Kolkata, Echological Fuels from Guwahati, Future Fuel Services from Mirzapur in Uttar Pradesh.

Talking about the growth of the firm, co-founders Chetan Walunj and Aditi Bhosale Walunj, empowering startups through the dynamic model of doorstep diesel delivery through mobile petrol pumps will change the game of fuel distribution in India. “With the goal to reboot the economy and making India Atmanirbhar, Repos Energy has been working extensively to create a startup ecosystem of its own in the energy sector,” a company statement said.

“These fuel startups will be registered with us and featured on our app. We will also provide them with the necessary infrastructure. This will include a back-end team to build their entire brand identity. We will make sure that they become successful startups,” Chetan Walunj said. Meanwhile, Aditi Bhosale Walunj said, “We have built an entire ecosystem of fuel distribution that consists of IoT and AI-driven Repos Mobile Petrol Pumps (RMPP). These RMPPs are being designed at our IoT facility in Chakan, Pune, and comply with PESO norms.”