Labour Laws In India Are Hampering Job Creation In MSME Sector
The M.S.M.E. sector is the backbone of the Indian Economy. It contributes to around 40 % of exports and 45 % of manufacturing output. India’s archaic labor laws and complex bureaucracy are hampering the growth of this sector as enterprises prefer not to expand. The lack of expansion by M.S.M.E.’s means that new jobs are not being created. This jobless growth is the reason for rising unemployment in the country. India’s labor laws are limiting the growth potential and employment generation capabilities of M.S.M.E.’s. Unlike other countries in Asia, India’s manufacturing sector is not able to reap benefits of cost
Read moreMSME Credit Set To Grow at 12-14 % Over The Next 5 Years
Non-Banking Finance Companies(NBFC’s) will play a crucial role in providing credit to MSME’s. These companies will increase the growth of credit to MSME’s by over 12-14 % in the next 5 years. As of March 2017, overall credit to MSME’s stood at Rs. 16 trillion. The share of Non-Banking Finance Companies in MSME credit is set to rise to 23 % by March 2022 compared to around 16% in March 2017. NBFC’s cater to niche segments and have a product that is specifically designed for MSME’s. The unmet demand in the MSME segment is estimated to be Rs. 25 trillion
Read moreIndian Exports Record A Steep Decline
In 2013, India’s exports as a percentage of its GDP was at an all-time high of 25 %. But, what a steep decline has pushed the level to its lowest in 14 years. This development, coupled with steep oil prices has widened the current account deficit. In the months leading up to March 2018, exports worth 303 billion $ were registered, against imports of 460 billion $. Small exporters across the country are still reeling from the implementation of the Goods and Service Tax. It is also estimated that 1.5 billion $ due to exporters from foreign sales, is being held
Read moreHow To Manage Inventory For A Retail Business
Small retailers dominate Indian neighborhoods. Everyone knows their friendly ‘kiraana-waala’ who provides a regular supply of daily goods. It is important for small shopkeepers to follow best practices in inventory management. In a world of changing trends, most goods go out of fashion quite soon. Inventory Management is particularly important in the retail industry as there is a need to meet customer demands. Counting- The First Step In Inventory Management 1. Set A Date: One must check inventory on a regular basis. Follow a good schedule of checking inventory so that you get a good idea of what is being purchased
Read moreAirlines To Offer Various Benefits To Small and Medium Enterprises
With a sustained growth in the aviation industry, airlines in India are now looking to do business with the often neglected small and business enterprises. While the growth in passengers is expected to be consistent, airlines are looking at small and medium enterprises as a new source of customers. First, the party, Indigo Airlines has launched a scheme wherein the SME customers of the airline will enjoy some privileges: 1. No limit to the number of times they can change bookings. 2. Lower Cancellation fees than existing rates. 3. One free snack along with a beverage. 4. A detailed management
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