"We shouldn't get distracted by the current challenges. Obviously we have an issue with bank non-performing assets (NPAs), non-banking financial company NPAs, but out of this will emerge the next generation of credit which is going to be entirely tech and data-based," Nilekani said at an event here.
The company will use its global footprint to export USD 10 billion worth of Make In India goods by 2025, Bezos said at the Amazon SMBhav summit which will focus on discussions around how technology adoption can enable small and medium businesses (SMBs) in India.
As per a World Bank document, there are still issues with matching of B2B invoices, uploading information on tax returns, etc.
The company clocked over 15,000 orders per day in the recently concluded Black Friday Sale in November
With multiple business management modules, it targets specific pain points of SMEs, easing out their day-to-day business with the use of technology, it helps them scale the skies.
As per a Google-KPMG 2017 report, 68% of SMEs in India are offline and operate with traditional methods and legacy tools, Only 2% are digitally engaged.
The company is looking to make significant investments in warehousing, delivery, technology, and marketing to strengthen its presence further by scaling up operations
Moneycontrol’s primary objective is to help the SME Business owners adopt the digital initiatives of the government and become competitive through improved ease of doing business.
Small and mid-sized companies are eager to manage their growing expenses, but often lack the buying power of larger companies in negotiating discounts with suppliers
Both funds are targeting closure in the second half of next financial year (2019-20). SME Fund will be broad-based fund covering manufacturing and services sector.
WhatsApp and CII will work to enhance business communication for Indian SMEs through CII's SME Technology Facilitation Centre that was set up in November 2016, a statement said.
Total production of defence public sector undertakings and Ordnance Factory Boards last year was about Rs 58,800 crore of which Rs 14,000 crore was imports.
Despite their significance to the Indian economy, SMEs have been traditionally under-served by conventional financial institutions
"When I hear all the debates in this country about temple, religion, God, caste, I worry about India. Temples are not going to create jobs for tomorrow. Only science will create the future," Pitroda said.
The Securities and Exchange Board of India (SEBI) could amend the Issue of Capital and Disclosure Requirements (ICDR) after analysing public opinion during its board meeting scheduled for June 21.
Addressing the valedictory function of International SME Convention here, MSME Secretary Arun Kumar Panda said: "The ministry has planned to set up a digital trade desk aimed at furthering more collaborations between SMEs of India and other countries and for exchange of data".
As part of the agreement, PayPal will work with FIEO to educate SMEs on how to leverage global opportunities, help them receive money in a safe and timely manner with PayPal products like invoicing as well as inform them of global best practices.
Funds raised through IPOs were meant for business expansion plans, working capital requirements and other general corporate purposes, according to offer documents.
In a written reply to the Rajya Sabha, Singh said that targets under PMEGP are set in terms of Margin Money allocation, and a target of minimum 75 projects per district has been allocated to all the districts in the country with average Margin Money of Rs 2 lakh per project (project cost Rs 8-10 lakh) in order to have equal distribution of targets and to achieve inclusive growth.
In an interview with Moneycontrol, Rajat Verma, MD and Head of commercial banking India, HSBC, said the share of PSBs in large corporate lending will reduce over next 5 years.
Companies with a turnover of less than Rs 250 crore in FY17 would be required to pay tax at 25 percent (and not at the erstwhile rate of 30 percent) in FY19.
According to a top bank executive, Kotak Mahindra Bank will witness 15-20 percent growth in the corporate banking and SME portfolio.
More companies will tap the initial public offer (IPO) route for business expansion plans, to support working capital requirements and other general corporate purposes.