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.
SMEs can now manage their company and employee profiles, travel policy compliances and approval workflow, Yatra.com said in a statement.
Funds raised were used for business expansion plans, working capital requirements and other general corporate purposes.
The BSE-SME segment has fast emerged as the preferred platform for SME's to raise capital and engage investors. The platform provides immense opportunity to entrepreneurs to raise equity capital for growth and expansion, and for investors to identify and invest in SMEs at an early stage.
Under the scheme, Muthoot Finance will disburse gold loans above Rs 10 lakh at an interest rate of 12 per cent per annum, said Babu John Malayil, Deputy General Manager, Muthoot Finance.
To make the process simpler, small firms may be allowed to file of only one summary return form GSTR3B, doing away with filing of GSTR1, GSTR2 and GSTR3
Council to take up matter in its next meeting in Guwahati on November 10 to ease procedural irritants for small firms
The GST Council on Friday hiked the threshold turnover for the composition scheme that allows SMEs to pay 1-5 per cent tax without going through tedious formalities.
Prime Minister Narendra Modi brainstormed for over three hours with Arun Jaitley and BJP president Amit Shah on Thursday.
Gandhi, who is in the US on a two-week-long tour, during his interaction with students at the prestigious Princeton University said 'Make in India' is a good idea, if implemented well, it is a very powerful idea.
A look at top cues from the domestic and international markets that could have a bearing on D-Street today.
Started in 2011, the company has raised about USD 43 million so far, including this round. The company also counts former UIDAI Chairman Nandan Nilekani as its angel investor.
"The focus should not be on big businesses or large industry or groups. The real growth in employment and in manufacturing is going to come from SMEs, the entrepreneurial small sector," Mahindra said at a book launch event last evening.