The beauty and variety of Indian handloom is legendary. The texture and colour with the most intricate of woven patterns and embroidery can leave most anyone spellbound. As we celebrate India’s rich history of handlooms on National Handloom Day (August…
From cutting and polishing diamonds for the world to making centuries-old hub for silk brocade, India’s manufacturing map will surprise you!
Rice is the staple food of more than half of the world’s population today and India is the second largest producer of rice in the world. The genesis of rice production in India can be traced back to the Green Revolution, read about the top varieties of rice grown in India.
By Nitin Mittal UPI 2.0 has the potential to accelerate and drive change at a much faster rate. The challenge that NPCI has taken to expand the service beyond smart phone users to the 500 million-strong feature phone users in…
The Micro, Small and Medium Enterprises (MSMEs) sector has traditionally been the backbone of our economy. However, over the past few years, the MSME sector has started confronting some challenges, including country’s shift to GST tax regime, lack of technological knowhow, inefficiencies in supply chain and difficulties in availability of funds. This brought to light the need for digital transformation for MSMEs.
Silk in the Indian subcontinent is a luxury good that carries a long history. It is known as Resham in eastern and north India, Pattu in southern parts of India. Archaeological discoveries in Harappa and Chanhudaro hint towards sericulture present during the time of the Indus Valley Civilization (dating between 2450 BC and 2000 BC). However, certain evidences found for silk production in China dates to around 2570 BC.
During these unprecedented adverse times, the focus of SMEs should remain on staying safe, supporting their customers to keep the wheels of earning turning. The novel Coronavirus has forced the entire world to adapt to change quickly. After a considerable lockdown period, workplaces in India are taking a large number of precautions for their employees in the unlock phase.
Small businesses play an important role in the economy. Not only do they outnumber large firms considerably, but employ vast numbers of people as well. The International MSME day was initiated in order raise awareness about the importance of supporting the development of small and mid-sized businesses in developing countries.
COVID19 के प्रकोप का भारतीय अर्थव्यवस्था पर, विशेष रूप से छोटे और मध्यम व्यवसायों पर क्या प्रभाव है? एसएमई क्षेत्र को बचाने और उन्हें संकट से निपटने में मदद करने के लिए क्या किया जाना चाहिए? एसएमई को क्या करना चाहिए? SOLV – एक B2B डिजिटल प्लेटफ़ॉर्म एसएमई की मदद करने के लिए क्या कर रहा है?
Frequently Asked Questions Answered By SOLV: What is the impact of COVID19 outbreak on the Indian economy, especially the small & medium businesses? What should be done to save the SME sector and help them weather the crisis? What should SMEs do? What is a B2B digital platform like SOLV doing to help SMEs?
Proper implementation of the stimulus measures for the sector, minus the red tape, is crucial. The Atmanirbhar stimulus package is a welcome mix of fiscal and monetary support, ease of conducting business processes, as well as some fundamental reforms. However, the stimulus measures do not address current economic needs and will not have an immediate impact.
The COVID-19 pandemic has wreaked havoc on the economy. Taking steps to protect our industries and commerce is an immediate and critical need of the hour. To this end, the government recently announced its intention to spend almost 10 percent of India’s gross domestic product (GDP) in the fiscal year 2020 on economic relief measures towards reviving economic growth.
Micro-Small & Medium Enterprises (MSMEs) have a major contribution in the socio-economic development of India. MSME registration for both manufacturing and service enterprises is highly important since it allows SMEs to avail benefits from various government initiated schemes.
Harmonized System of Nomenclature, or HSN is a code that was developed by the World Customs Organization (WCO) with an aim to classify goods across the world in a methodical manner. This globally accepted code consists of six digits classifying 5,000+ products, and this classification is used for taxation purposes in identifying the rate of tax applicable to a product in a country. Besides, this code is also useful in determining the significance of an item traded by a nation.
An MSME is an independently owned and operated business which has been established for profit and sells the products for the local customers. According to the updated definition, SMEs in India comprise both manufacturing and service enterprises and the classification is done based on the turnover and investment amount.