In defence sector, 68% of the capital procurement budget will be earmarked for domestic industry in 2022-23, up from 58% in 2021-22. Defence R&D will be opened up for industry, start-ups and academia with 25% of defence R&D budget earmarked.
Tag: MSMEs
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Rising raw material prices impacting machine tools industry: IMTMA
The machine tools manufacturing sector was one of the worst-hit sectors during the COVID-19 pandemic. IMTMA expects the industry to grow around 8-10% due to infrastructure spending and investments.
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Majority Of MSMEs, Other Industries to Recover Within Next Six Months
According to a survey conducted by the Pune-based MCCIA, 28% of total businesses will reach the pre-covid recovery in six months. The survey was conducted on 150 businesses of which 72% were MSMEs.
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Karnataka may allow industries to reopen soon with guidelines
The government of Karnataka will soon allow industries to reopen following strict Covid-19 protocols. A joint request was sent to the Chief Minister after the announcement of an extension of lockdown.
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Hard Times for Auto MSMEs Due to Lack of Cash, Labourers, and Orders
The capacity utilisation of the majority of the auto sector MSMEs has started falling since mid-April 2021 due to cash inflow disruption, lack of orders, and labour shortage.
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Indian govt plans to bring down import duties on steel items
The decision aims provide relief to MSMEs that have been affected by the high cost of raw materials due to the raging COVID-19 pandemic. The import duties will now be withdrawn or slashed.
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Tamil Nadu EV policy to provide special incentives for MSMEs
The Tamil Nadu Government, which unveiled a new EV (electric Vehicle) policy on September 16, 2019, will provide special incentives for MSMEs to help them become a part of EV supply chain ecosystem.
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Budget will have positive impact on commercial vehicle industry: Satyakam Arya
A well-placed scrappage policy along with reduced GST rates would have helped the auto economy to do better, says Satyakam Arya, CEO & MD, Daimler India Commercial Vehicles
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Tata Technologies and VDIA to set up aerospace & defence centre in Nagpur
The partnership between Tata Technologies and Vidarbha Defence Industries Association (VDIA) will promote the state as an aerospace and defence manufacturing and export hub.
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Capital availability a concern for MSMEs: Opinion Poll
CII CEOs Opinion Poll, held in Pune recently, gave thumbs up to economy with 82 per cent CEOs expecting GDP growth of more than 7 per cent for 2018-19. It has also raised some concerns on credit availability to MSMEs.
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