MSME Technology Centre to Be Set Up in Sindhudurg, Maharashtra

Union Minister for MSME, Shri Narayan Rane, has announced the establishment of MSME-Technology Centre with an outlay of Rs.200 Crore, in Sindhudurg, Maharashtra. 

The Micro, Small & Medium Enterprises (MSME) -Technology Centre will provide the best of technology, incubation as well as advisory support to the industry, especially MSMEs, to enhance their competitiveness and provide skilling services for the employed and unemployed youth of the area to enhance their employability.

The Minister made this announcement at the inauguration of the two-day MSME Conclave (25 and 26 February) being organized in Sindhudurg by the Ministry of MSME. The Conclave aims to promote entrepreneurship and trade opportunities for MSMEs in the Konkan region by handholding them in use of technology, product development and skilling.

Speaking about the significance of the conclave, the Union Minister said, “such conclaves serve as an important platform for entrepreneurs, policy makers and other key stakeholders to engage in an open dialogue to exchange information, innovative ideas and explore mutual business opportunities.”

“The objective behind this conclave is to make Sindhudurg region – the top most in industrial sector,” said Shri Rane. He pointed out how most of the residents of Sindhudurg had to leave the city in search of job opportunities and to earn a living. He insisted that we have to bring change in the current scenario where income is generated in Sindhudurg and where our future generation can benefit from it.

MSME Ministry has set up nearly 2000+ new manufacturing units in Konkan; huge scope of employment creation in Maharashtra

The Minister lauded the MSME Ministry's initiatives in the Konkan region and said that there is huge scope of employment creation in Maharashtra, particularly in the Konkan region. The Minister added that the government is committed to promote entrepreneurship and employment creation in the region by rigorous implementation of flagship programs like PMEGP (Prime Minister Employment Generation Programme) , SFURTI (Scheme of Fund for Regeneration of Traditional Industries), Honey Mission and Kumhar Sashaktikaran Yojana for empowerment of potters.

Shri Rane said the Ministry has given a big thrust to entrepreneurship by setting up nearly 2,000+ new manufacturing units in the Konkan region since 2016, resulting in creation of 16,400 direct employment. To support these projects, Ministry has disbursed subsidy amount of Rs 71.65 crore.

The Minister also distributed electric potter wheels, bee boxes and Agarbatti making machines to rural artisans of Ratnagiri and Sindhudurg District and adjoining areas. He also felicitated 25 Khadi artisans and handed over certificates on completion of training. Further, sanction letters were handed over to 10 PMEGP beneficiaries who will take stride towards self-reliance by associating with self-employment activities of Khadi and Village Industries Commission (KVIC).

Presentation on various schemes being implemented by the Ministry was also made by the senior officials of the Ministry during the Conclave, which was attended by entrepreneurs and youth from rural and semi-urban areas.

Additional Secretary & Development Commissioner, MSME, Shri Shailesh Kumar Singh emphasized on the importance and relevance of various schemes like Udyam Registration and Champions Portal for the MSME sector that had a positive impact during the COVID-19 pandemic.

SuperBot-powered DIY Portal to Ensure Indian SMEs Don’t Lose Out on Enterprise Automation

Mr Sarvagya Mishra Co-founder Director SuperBot PinnacleWorks

The industry-agnostic portal can manage 1 million inbound/outbound calls a day with support for 9+ languages, 100+ use-cases, and 24x7 service availability

In a development that marks the next big shift in enterprise automation in India, SuperBot, AI-Powered communication agent from PinnacleWorks, has launched its DIY Portal to empower businesses of all sizes across the country. The portal is designed to enable enterprises to supercharge key functions such as marketing, sales, customer service, surveys, feedback, etc. by deploying cutting-edge automation capabilities.

Built atop the SuperBot framework, DIY Portal is a cloud-based, AI-powered automation platform that can help businesses connect with 1 million people a day through voice calls made by intelligent voice agents with 24x7 availability. The platform requires no coding skills, allowing for hassle-free deployment, and eliminates the costs and effort involved in hiring or training human agents while ensuring consistent and contextual customer interactions over a voice-based medium. In doing so, DIY Portal allows businesses to make significant savings of time and money while improving key metrics such as customer satisfaction, lead generation, and acquisition costs.

Speaking on the launch, Mr. Sarvagya Mishra, Co-founder & Director, SuperBot (PinnacleWorks), said, “The launch of DIY Portal is meant to catalyze market growth and help businesses achieve superior unit economics via process automation, especially within the SME segment. By automating key processes, the all-new DIY platform will enable businesses of all sizes to meet and exceed their KPIs and drive better outcomes with zero training, management, or infrastructure costs. During the beta testing phase, the platform enabled 100x faster calling for businesses.”

Backed by SuperBot’s AI and NLP capabilities, DIY Portal allows businesses, from MSMEs to large enterprises, to deploy campaigns without knowing a single line of code, thus streamlining the user journey and enabling swift deployment. Once they sign up and create an account, business users just need to select their industry, use-cases and preferred language and voice-overs before uploading contact numbers. The platform provides support in 10+ languages, including Hindi, English, Gujarati, Bengali, Tamil, Punjabi, Tamil, Telugu, and Kannada, etc. and uses algorithms that have been extensively trained on 100+ industry-specific use-cases.

About PinnacleWorks

PinnacleWorks established in the year 2012, has always focused towards bringing a revolution in the tech industry. It has always focused towards coming up with something new which can help businesses to digitally transform and evolve themselves. Following its vision of Always Evolving, PinnacleWorks had launched SuperBot in the year 2018, when the concept of AI-Powered chat agent was new to the Indian Market. 

It transformed the communication process for 100+ organizations & helped them connect with their users 24x7 over various media including WhatsApp, Facebook, etc. But it resolved only one segment of communication. The other one stayed intact which was the outbound and the inbound calls. The organizations till date utilize 80% of the time of their human agents in just verifying and re-attempting the unattended leads. To cater to this scenario and to help organizations utilize the time of their human counselors more effectively, SuperBot was evolved from a chat agent to a voice based communication agent, where it is capable of catering 1M+ inbound/outbound calls a day. With the launch of SuperBot-Voice Agent, the mission stays the same and i.e to revolutionize calling and make businesses use machines for doing the hard work while the humans invest their time in doing the smart work only.

ArvanCloud Unparalleled VoD CDN for Indian SMEs

MEERBUSCH, Germany , Nov. 30, 2020 /PRNewswire/ -- A new VoD CDN solution with unparalleled New Year offers for SMEs has entered the Indian market. ArvanCloud , trying to help small and medium-sized businesses in the time of COVID-19, offers 10GB of free Storage and 50GB of free Traffic in December 2020 for VoD CDN customers.

With PoP-sites around India , the company announced that SMEs with a tight budget would benefit from their CDN services. "ArvanCloud offers specific solutions for SMEs to assist them in reaching their audiences in a fast, secure, and reliable manner," reads the company's press release.

ArvanCloud is an international CDN provider with more than 40 PoP-sites globally and counting. It has successfully offered competitive CDN and Cloud Security solutions in Europe , Australia , and the Middle East before entering India .

ArvanCloud offers its solutions to customers in more than 38 countries. Anycast network, Web Acceleration, DDoS Protection, WAF, Cloud Firewall, Video CDN, and Live Streaming are among ArvanCloud turnkey solutions. Comparing to its competitors, the provider offers most of its features free of charge and on a Pay-as-You-Go basis.

The company provides many solutions with several features in its free tier. They include Managed DNS with unlimited traffic and Advance DDoS Protection, full features of CDN solution up to 50 GB in every geographical region (Europe , Australia , Asia , and America), Cloud Security services, and all features of Video CDN (VoD streaming) up to 10 GB.

ArvanCloud's Live Streaming Platform allows video content creators and distributors to transform their video or live stream content to multiple qualities and formats. Customers can also store and publish their live stream in an unlimited cloud video hosting without worrying about infrastructural issues.

The Live Video Streaming platform of ArvanCloud enjoys the Content Delivery Network solutions to provide a better speed experience for end-users. CDN Live Streaming helps SMEs deliver video content from the nearest geolocation to their users, enabling them to watch videos without delays and with the best possible speed and quality.

Notably, ArvanCloud has supported almost 150 thousand concurrent users at live events on the Live Streaming service with the least possible delay during COVID-19.

www.ArvanCloud.com

NAMASTE BHARAT - Launch of a 10-day FIRST Local to Global Exhibition to Support our MSMEs and Artisans

The event will be inaugurated online by Shri Nitin Gadkari, the Union Minister for Road Transport & Highways, Minister of Shipping, and the Minister of Micro, Small and Medium Enterprises.

The maiden edition of the Namaste Bharat series- the largest global online L2G (Local to Global) exhibition for Indian products will be held from 29th October to 7th November 2020. Namaste Bharat is the first of its kind exhibition for promoting 'Made in India' products globally. Conceptualized and curated by Singapore's leading events and marketing company – De Ideaz- the exhibition will see over 400 plus local Indian exhibitors showcasing over 100,000 Made in India products. Namaste Bharat will be live on http://www.namastebharat.world and will have global visitors and buyers for 10 days.

The event will be inaugurated online by Shri Nitin Gadkari, the Union Minister for Road Transport & Highways, Minister of Shipping, and the Minister of Micro, Small and Medium Enterprises.

Namaste Bharat is backed by high-profile organizations and prominent partners among them is the nodal agency, the Federation of Indian Export Organizations (FIEO) and the High Commission of India in Singapore. In addition, the online exhibition event is being supported by the Australian India Business and Trade Foundation, Gulf Maharashtra Business Forum, the Indian American International Chamber of Commerce and other business bodies.

Commenting on the launch, Ms. Purnima Kamath, Founder & CEO - De Ideaz said "We are thrilled to announce the launch of Namaste Bharat. It is our labour of love and our contribution to our homeland India. The exhibition aims to promote local products and make them accessible globally. This pandemic has hit us all and the most affected have been those that are at the grass-root level. We know that by going digital they will have an opportunity to feature their talent and products for a global audience. We have integrated the latest virtual technology to achieve this and make this event a grand success."

Some of the key participating exhibitors include Aadyam Handwoven, an Aditya Birla initiative, Antaran Lyla Blanc, Dr. Nutree Health Products, Dalan Maharashtrache, Ashok Masale Group 4 and many others.



One of the main supporters of Namaste Bharat is Aamhi Udyogini Prathishthan, a 20 year old establishment from Mumbai formed with the sole intention of women empowerment. Their founder member Mrs. Meenal Mohadikar said "We are extremely proud to be associated with the Namaste Bharat, this is the need of the hour and so timely. A lot of value-added services are enhanced through such platforms for our women entrepreneurs and they get a global exposure, we look forward for long term relation with De Ideaz and Namaste Bharat".


Aadyam Handwoven, an Aditya Birla initiative is the Gold sponsor of Namaste Bharat. Mr. Saurabh Khedekar, Senior Vice President & Principal EA to Chairman, Aditya Birla Group said "Aadyam Handwoven is very excited to partner with Namaste Bharat. A digital reincarnation of this unique platform to promote Indian artisans and rural entrepreneurs will go a long way in supporting the livelihoods of those carrying forward the unique arts of India. We feel sure that Namaste Bharat will become the foundation of a highly impactful ecosystem which will create a much larger global engagement for this deserving community"


Through this exhibition, Namaste Bharat envisions amplifying the messages of 'Make in India' and 'Atmanirbhar Bharat'.

Namaste Bharat aims to provide entrepreneurs and artisans affected by the pandemic with an AI driven, e-commerce platform so that they can create sustainable livelihoods by showcasing their craft and enterprise.

Radio City is the FM partner spreading awareness of the event. Ruma Devi, the face of New India and Shiv Khera, the motivational author are our Ambassadors of Namaste Bharat.

About Namaste Bharat:

Namaste Bharat, the largest global online L2G (Local to Global) exhibition aiming to create an ecommerce ecosystem for MSME, cottage industries, artisans and rural-urban women entrepreneurs in order to build a sustainable livelihood by promoting "Made in India" products globally. During this pandemic, we felt a strong need to convert our existing offline exhibition, which we have been organizing in Singapore since the last 10 years, to go online and use our expertise to create a much larger global engagement.

For more information on Namaste Bharat, visit http://www.namastebharat.world

Ministry Writes to Over 2800 Corporates to Clear MSME Dues

• Riding on excellent outcome of its efforts, MSME Ministry substantially widens request to India Inc. for making payments to MSMEs.

• MSME Ministry's Vigorous follow up with Central Ministries, CPSEs & State Governments, and a Direct communication last month to top 500 corporates of India brings in very good results.

• With CPSEs paying Rs 3700 crore to MSMEs in September 2020; the highest in a month, takes total payment to Rs 13400 crore in last 5 months.

Riding on excellent outcome of its efforts, the Union Ministry of Micro, Small and Medium Enterprises( MSME) has substantially widened its request to India Inc. for making payments to MSMEs against their dues of goods and services rendered.

MSME Ministry has now written to top management of over 2800 corporates by name to make payment of pending dues of MSMEs in this month itself.

Last month, It may be noted, Ministry of MSME had written to Top 500 corporates of India about the pending payments of MSMEs. Ministry has said that very good response has been seen from the corporate India. Out of the last five months, the maximum payments to MSMEs have happened in the month of September, 2020. Not only that, in that timeframe, even the procurement and transaction appears to be maximum in the month of September. MSME Ministry has informed that more than Rs. 13400 crore have been paid by Central Public Sector Enterprises (CPSEs) alone in the last five months. Out of this, payments worth Rs. 3700 crore have happened in September only. Ministry has complimented the Corporate sector of the country for this.

On its part, Ministry of MSME has made relentless efforts including personal follow-up and digital intervention for the purpose of assisting MSMEs of the country to get release of their dues from various procurers.

In its latest communication to larger corporate community of the Nation, MSME Ministry while underscoring the importance of making such payments now, says that it will facilitate the small enterprises to avail the business opportunity in the coming festival season. Ministry says that if the cash flows of MSMEs improve, they can make use of the festival season when there is opportunity to earn by supplying goods and services. In fact, some of the MSMEs look for such a period for their sustenance of whole year. Thus, timely payment of their receivables at this time will not only support the MSMEs and their dependents in this festive season but will also sustain many of them for full year. Therefore, Ministry has requested the corporates to see and make payment as soon as possible, preferably in the present month.

In addition, Union MSME Ministry has also drawn attention of the Corporate India towards important administrative, legal and Fintech based provisions with regard to MSME payments. It says that:

• It is ideal that payments are made in stipulated time. However, to solve the cash flow problems of MSMEs in absence of that, a bill discounting mechanism has been started by RBI in the name of TReDS. It is mandatory for all CPSEs and the companies with turnover of more than Rs. 500 Crore to join this platform. However, many companies are yet to join it or transact on it. Corporates have been requested to check whether their group/company has joined the TReDS platform and is doing transactions;
• It also reminds the corporates of the legal provision under the MSME Development Act, 2006 which mandates to make the payment to MSMEs within 45 days. As per related regulations, the corporate entities are also supposed to file half-yearly returns with the Ministry of Corporate Affairs about the dues of MSMEs. In many cases, this too is not being done. Ministry has requested the corporates for their attention and needful action on this also.

While re-iterating that Government is very keen to see that payment of receivables to MSMEs is made on time, Ministry has drawn attention towards the announcement in this regard in AtmaNirbhar Bharat Package. Ministry also feels that a small gesture of payment to MSMEs during this period can go a long way and brighten lakhs of homes and crores of faces.

Paytm Mall Announces its Maha Shopping Festival with special focus on MSMEs

• India’s most awaited sale to commence from October 16 to October 23
• The event will bring exciting offers from lakhs of sellers, artisans, state handloom emporiums, to millions of customers
• Discounts of up to 80 percent on mobile & accessories, electronics, fashion, home as well as assured cashback on all purchases
• Exciting offers on ICICI credit, debit cards, EMI transactions

India's homegrown e-commerce O2O (Offline to Online) platform Paytm Mall (owned by Paytm Ecommerce Private Limited) which is empowering SMEs across the country with e-commerce services, today announced its Maha Shopping Festival from October 16 to October 23. This festive season the company will be showcasing millions of products from MSMEs, Made in India brands, government-run emporiums along with top deals from the best international brands in fashion, lifestyle, electronics & home categories.

This year's Maha Shopping Festival would be bigger than ever with over 5,500 brands participating in the event. The company said that it would be accepting orders from all pin-codes across India. Over the last several months, Paytm Mall has been adding capacity and has brought in hundreds of MSMEs, Made in India Brands who will launch new products across categories during the event.

According to the company, several cottage emporiums, artisans, and women entrepreneurs will showcase unique products such as handmade jewellery, Benarasi & Kanjivaram sarees, hand-stitched Kurtas, ethnic wear from different states, as well as home & kitchen decor. Paytm Mall is offering free shipping on over 1.5 lakh products.

Paytm Mall said that during the eight-day long celebrations, shoppers with have the opportunity to find the best deals during a Flash Sale between 11 AM to 3 PM on high-demand products with prices exclusive to the platform. In addition to these, customers can also explore Deals of the Day, combos under Rs 999 & Rs 499 store to get the best value for money shopping experience this festive season.

The company is offering discounts of up to 80% on mobile & accessories, electronics, fashion, home & kitchen essentials as well as giving an additional up to 20% Paytm cashback on all products. There will also be an extra 10% cashback up to Rs.3000 on ICICI Bank Credit, Debit cards & EMI transactions. Paytm Mall has partnered with ICICI Bank as part of ICICI's Festive Bonanza offering cashback across all shopping products.

Abhishek Rajan, COO, Paytm Mall said, "Every year we set out to deliver the best possible shopping experience to our consumers as well as a successful sale season to lakhs of sellers. This year we want to empower thousands of MSMEs, artisans, Indian brands to leverage on our digital commerce platform as a potent distribution channel and give their consumers the best buying experience. We are bringing the best deals possible so that our users are not constrained by budget to celebrate and spread the festive cheer."

Over the last several months, the company has seen over 2X growth in sales in categories including groceries, consumer durables, work from home essentials, grooming electronics, toys, and kidswear among others

FSS and Airpay to Onboard MSMEs Onto Digital Payments

FSS (Financial Software and Systems), a globally leading provider of payment products and a payment processor and Airpay, a leading omnichannel financial services platform, announced a strategic collaboration to accelerate electronic payments acceptance by micro, small, and medium-sized enterprises (MSMEs). The alliance is a part of the company’s global strategy to bring banks and payment aggregators onto FSS Embark – its omni-channel acquirer platform - to build an inclusive digital payment services ecosystem that efficiently caters to the MSME segment.

Access to cost-efficient digital payments is a fundamental need for businesses today. MSMEs, however, remain underserved due to the diverse and fragmented nature of the market segment as well low profitability in relation to costs of acquiring and servicing these merchants. Under the umbrella of this partnership, FSS and Airpay bring complementary strengths to improve MSME access to digital services. Airpay would be responsible for first-mile enablement – for acquiring, onboarding, technology enablement and providing ongoing support to MSMEs – whilst FSS would be responsible for last-mile single window transaction processing.

Speaking on the alliance, Krishnan Srinivasan, Global Chief Revenue Officer, FSS said: “The COVID-19 pandemic has made digital the new normal and the ability to participate in digital commerce is crucial for MSME survival and growth. We are excited to partner with Airpay for FSS Embark to bring reliable digital payment services to MSMEs. The collaboration helps us gain immediate access to an extensive MSME network and we would benefit from Airpay’s strong technology tools and merchant support network on the field, enabling us to rapidly scale our footprint.”

Speaking on the partnership, Kunal Jhunjhunwala CEO, Airpay, said: “MSMEs are at the heart of India’s economy, and are the hardest hit by the pandemic, as they lack, technology and tools that will help them sell in the digital marketplace. Our partnership with FSS helps make the entire transaction processing more reliable and efficient. It would enable us to expand services to a large base of merchants by offering them a range of innovative digital payment acceptance services -- online, instore and mobile -- to participate and compete in a digital-first economy.”

MSMEs represent 90 per cent of businesses in India and play a crucial role in India’s economy --contributing 30 per cent to the county’s total GDP and employing an approximate 28 per cent of the country’s workforce. A B2B omni-channel acquiring service, FSS Embark partners with banks and merchant aggregators and helps them leverage its reliable, and scalable technology platform to transform the economics of servicing MSMEs. 

Shivaami Cloud Services and ICICI Bank Collaborate to Launch Cloud Business Coupled with Transaction Banking API Solutions for Indian SMEs

Shivaami Cloud Services and ICICI Bank today announced their industry first collaboration to launch Cloud based products bundled with transaction banking API solutions in India. To broaden access to cloud technologies and help small and medium enterprises in India digitize, the solution provides a suite of Software-as-a-Service (SaaS) applications including Google Suite for communication and efficient collaboration among teams, Google Cloud Platform (GCP) for hosting and storage, FreshSales for effective customer relationship managements helping businesses interact with existing and potential customers, FreshDesk for providing customer support and FreshMarketer for Email Marketing. Along with these, businesses can streamline their accounting transactions by using API Banking services from ICICI Bank in a frictionless manner.

Companies can accelerate their growth and adopt the cloud way without putting a dent to their cash flow. Powered by API Banking services from ICICI Bank, they can easily integrate their ERPs where day to day transactions can be done in a secured and automated way with end to end instant reconciliations.

Punit Thakkar, Founder & CEO, Shivaami said, "Computing capabilities on the cloud are transforming the online business environment, enabling businesses to run faster, more efficiently and at a reduced cost. Driven on digital platforms, small and medium businesses hold a lot of opportunities to expand their services and improve everyday operations. Our partnership with ICICI Bank has helped us remain committed to providing the latest technology with an endeavor to fulfill customer needs and contribute to their growth journey."

Speaking on the initiative, Mr. Pankaj Gadgil, Head Self Employed Segment, ICICI Bank said, “At ICICI Bank we believe that ‘ease of doing business’ and ‘digitisation’ are the two growth enablers for the MSME businesses. Our tie-up with Shivaami is yet another initiative to enable our MSME customers to scale up their digitisation in a rapid and seamless manner. It offers ICICI Bank’s MSME customers access to attractively priced packages for availing world class cloud infrastructure services. This in-turn will help them to use the APIs available on the ICICI Bank Developer portal and rapidly add to their digitisation, without investing in setting up large IT infrastructure like physical servers. We believe that this access to new technology will help MSMEs improve their operational efficiencies, thereby accelerating themselves to grow and enhance their business.”

• G Suite: G Suite is an exclusive integrated suite of cloud tools that provide productivity and agility in business operations. It comprises Gmail, Drive, Docs, Calendar and more.


• Google Cloud Platform: Services and infrastructure that enable you to develop and deploy scalable applications and websites.


• Freshsales: A cloud-based customer relationship management (CRM) solution. It helps businesses manage their interactions with existing and potential customers. Key features include one-click phone, sales lead tracking, sales management, event tracking and more.


• Freshdesk: A cloud-based customer support software and helpdesk solution. It is a platform with a comprehensive set of tools and features to help businesses support all the needs of their customers. Companies around the world use it to deliver exceptional customer service and experience.


• Freshmarketer: An all-in-one conversion rate optimization platform from the Freshworks productivity suite. It is built to help businesses improve their online presence and boost lead conversions using robust marketing functionalities that focus on analytics.

ICICI Bank’s API Banking portal consists of 250 banking APIs (Application Programming Interfaces) which enables developers of prospective companies to seamlessly sign up on it, create an application, select the application, test it out and get the sample code. With this, businesses, fintechs, corporates and e-commerce start-ups can easily partner with the Bank and co-create innovative customer solutions in a smooth manner, all from the convenience of a single portal. The usage of ‘ICICI Bank API Banking Portal’ simplifies the process of digital collaboration for a company with the Bank and reduces the time taken to develop a business solution to a few days. This significantly raises productivity for partner companies. The portal hosts the maximum number of virtual APIs put together by any Indian Bank.

Most of the MSMEs in Gujarat Facing a Tough Time Post Unlock in COVID-19 Pandemic

Surat-based Stratefix Consulting reached out to more than 100 companies having a turnover of Rs. 10 crores to Rs. 100 crores and conducted a survey on the present market situation

More than 85% of companies covered under the survey are focusing on business restructuring

36% of business units are reducing the fixed expenses; 22% of units switched to multi-tasking process to get the maximum output from minimum manpower at low cost

The COVID-19 pandemic has hit hard all the industries, especially Micro, Small and Medium Scale Enterprises (MSMEs). Higher cost, low fresh demand, fixed expenses, and limited cash are the few factors jolting the sector now. Anticipating that getting back on track will take a long time, the MSME sector in Gujarat is adopting an aggressive business restructuring model. 36% business units are reducing the fixed costs heavily; 22% of units switched to multi-tasking process to get the maximum output from minimum manpower at low cost.

These are the finding from a market survey carried out by Surat-based Stratefix Consulting. Stratefix, one of the fastest-growing management consulting firms in India, had reached out to more than 100 companies having a turnover of Rs. 10 crores to Rs. 100 crores and conducted a survey in the first two weeks of July 2020.

Speaking on this survey, Mr. Chirag Patel, Founder and Partner at Stratefix Consulting said, "Due to COVID-19 pandemic, businesses were affected during the lockdown and post the unlocking too, most of the industries, especially MSMEs are facing a challenging time. Our intention for the survey was to know what their current business situation is, which challenges they are facing and what efforts they are putting in to recover from it."

As per the survey findings, more than 85% of businessmen are focusing on business restructuring. 36% of business units are cutting down the fixed expenses. Due to limited new income opportunities and to make the future provisions, they are bound to restrict themselves spending money on unnecessary expenses. 22% participants opined that they are implementing Maximum Work, Minimum Workforce model. To reduce fixed expenses, many workers have been laid off. Moreover, many units are facing a shortage of skilled workers hence they are opting for multi-tasking culture wherein a few workers are given major work responsibilities.

18% of companies believe that due to weak new demands, they are not getting new customers. Hence, these companies are offering the best services to their old customers to retain them. Every business demands a reasonable risk but 14% businessmen believe that this is not a time to take any kind of risk. 10% respondents are focusing more on IT and Automation processes and trying to make the system dependent on machines rather than humans.

"To understand why the business units are focusing on business restructuring, we conducted an in-depth study and landed on two major factors. First, there is a lack of new opportunities in the market. Demand flow is very low hence scope to take the business to the next level is limited. Second, cash on hand is also limited. As new sales are not happening, the flow of income is also restricted. Running a company with a small working capital is a challenging task therefore the companies are bound to go for business restructuring. This model can fetch good results at a lower cost and also a need of an hour now," said Mr. Mukul Goyal Founder and Partner at Stratefix Consulting.

About Stratefix Consulting (www.stratefix.com)

Started in 2017 by two dynamic and ambitious partners Mr. Chirag Patel and Mr. Mukul Goyal, Stratefix Consulting provides advisory and implementation services in the area of Management consulting. Headquartered in Surat, the company has three other locations across India i.e., Ahmedabad, Mumbai, and Gurugram. The company has successfully completed 250+ consultancy assignments and grown the team size from just two to now 20.

Stratefixs clients varying from SME sectors to large conglomerates. The companys clientele includes Coca-Cola, Amazon, Asian Paints, Phillips, Surat Municipal Corporation, Rajhans Group, Detox Group to name a few. Stratefix holds diversified industry expertise in Business Growth Consulting, HR Transformation, Business Process Re-Engineering and Market Research. The company conducts DNA (Detailed Need Analysis) of the current Modus-Operandi of client's business and identifies the 'Area of Improvements' and 'Challenges' which have been restricting the growth.

Both the Founders have rich experience in Management Consulting. Banking upon its an excellent and energetic team and a satisfied customer score of 98%, the company firmly believes in organisations core value E.T.A. (Empathetic + Transparent + Adhering Commitment). The CEO Story Magazine has covered Stratefix Consulting as Company in Focus, 2020.

Razorpay Launches Payment Buttons for SMEs - Now Integrate Payment Gateway in Less than 5 Mins, No Developer Support Needed

Empowering Startups to accept payments on their own website, Razorpay, the leading full-stack financial services company, today launched Payment Buttons. Payment button enables businesses and freelancers to add a single line of code on their website or blog and go live with an integrated payment gateway, in less than 5 minutes.

Amid salary cuts, layoffs and downsizing of businesses in this COVID-era, a new set of micro-entrepreneurs - including freelancers and individual-run businesses are on the rise. In the last 5 months of the lockdown, Razorpay witnessed a 30% month-on-month growth in payments from micro-entrepreneurs. Having spoken to over 200 Startups & Freelancers during Covid, Razorpay found that this underserved business community needs a customised payment solution which is easy and fast to implement, requiring no technology expertise or dependence on third party vendors for receiving payments. This led to the launch of Razorpay Payment Buttons - a platform which converts the capabilities of a full-stack payment gateway into a payment button, requiring no developer support and giving end-users a simple, fast and secure checkout experience.

In addition, Razorpay's Payment Buttons will enable new growth avenues for the micro-entrepreneur community by supporting 100+ currencies for international payments. The product helps businesses to send automated receipts to customers without any manual intervention and is compatible with leading website builders and content management tools.

Commenting on the launch, Shashank Kumar CTO & Co-founder of Razorpay said, "The current situation has got all businesses feeling the pain to varying degrees, but it's independent businesses that are hurting the most. At Razorpay, one of our immediate priorities is to help Startups and freelancers weather this storm with intelligent payment solutions to build a more resilient business. Solutions such as Payment Buttons empower startups and freelancers to focus on their business and their customers and not worry about having a digital presence and accepting money without integrating a payment gateway. We want to be their growth partner especially in these tough times and so we will continue to deliver new and compelling payment solutions that will meet the increasing digital, 24x7 demands of businesses and their customers. We're excited to see businesses, freelancers and homepreneurs leverage this solution and scale their business in India and across the globe. We predict a 10x growth in demand for Payment Buttons by the end of 2020."

Deepak Kanakaraju, Founder and CEO of DigitalDeepak and PixekTrack said, "It took less than 5 minutes to add a button on our website. Since then we have seen a definite upswing in our conversion numbers. Having a digital presence is more important than ever, I believe micro-entrepreneurs and everyone who is starting their own business will definitely stand to reap the benefits of a product like Payment Buttons."

Razorpay's Payment Buttons provide businesses the flexibility of accepting payments for multiple products, services and events with different price ranges - all through a single button. The company hopes to help businesses save time, money, and resources by integrating this product.

About Razorpay Software Private Limited

Razorpay, a full-stack financial services company, helps Indian businesses with comprehensive and innovative solutions built over robust technology to address the entire length and breadth of the payment and banking journey for any business. Established in 2014, the company provides technology payment solutions to over 1Mn+ businesses. Founded by alumni of IIT Roorkee, Shashank Kumar and Harshil Mathur, Razorpay is the second Indian company to be a part of Silicon Valley's largest tech accelerator, Y Combinator. Marquee investors such as Tiger Global, Sequoia India, Ribbit Capital, Matrix Partners, Y Combinator and MasterCard have invested a total of $106.5 Mn through Series A, B and C funding. Around 33 angel investors have invested in Razorpay's mission to simplify payments and banking and redefine how finance works in India.

Govt. of Haryana and SIDBI join hands to develop MSME Ecosystem in Haryana

Government of Haryana through its Directorate of MSME and Small Industries Development Bank of India (SIDBI) entered a Memorandum of Understanding (MoU) today with the objective of development of the MSME ecosystem in Haryana.

The MoU was executed by Shri Vikas Gupta, IAS, Director General, MSME, Directorate of MSME, Govt. of Haryana and General Manager, SIDBI, Chandigarh. The signing ceremony was done in presence of Shri V S Venkata Rao, Dy. Managing Director, SIDBI who joined through video conference.

In line with expectation of U.K. Sinha Committee SIDBI has laid emphasis on more focused engagement with State Governments. SIDBI has spearheaded few initiatives towards strengthening of enterprise eco system. Setting up of project management Unit in 11 states is a key step in this direction. The first such MoU has been signed between Government of Haryana and SIDBI on August 7, 2020.

Under the arrangement, SIDBI shall set up a dedicated Project Management Unit (PMU) which will work in coordination with Govt. of Haryana and facilitate schemes / initiatives / interventions for benefit of MSMEs in the state. The focus areas shall include designing schemes for equity support, interest subvention, resolution of stressed MSMEs and learning events for MSME entrepreneurs.

Mswipe launches "Bank Box" to Revolutionize the Digital Payment Landscape for SMEs

• New affordable offerings comprising of zero rental and zero MDR solutions
• Small businesses can collect and pay digitally even without a bank account
• Enters issuance business with Mswipe Moneyback Card to help merchants earn as they spend
• One-time digital KYC for hassle free and instant signup

Mswipe announced today the launch of Bank Box, a digital acceptance and payment solution designed to meet the cost-centric needs of MSMEs and merchants, as well as provide for a seamlessly integrated experience. Through this launch, Mswipe aims to pave the way for a futuristic payment solution platform and address key challenges that merchants and MSMEs face, with recurring costs on POS terminals like PoS rentals and Merchant Discount Rate (MDR).

Mswipe, India’s largest merchant acquirer with a network of 6.75 lakh POS and 1.1 million QR merchants, set out with the vision to build a cutting edge product – one that combines their acquiring and issuing platforms into a one-stop-shop, “Bank Box”, which enables easy signup, instant activation of the terminal and lifetime zero rental and zero effective MDR for merchants.

Manish Patel, Founder and CEO, Mswipe said, “COVID-19 has significantly impacted the earnings of small businesses, which in turn has led to curbed expenditures from their end. As a market innovator, Mswipe is helping MSMEs and merchants control costs incurred while accepting digital payments and further incentivize them to make digital payments. Essentially, Mswipe’s Bank Box facilitates small, medium and micro businesses to break into the digital ecosystem at the lowest possible TCO and sign up - even if they do not have a bank account.” 

With a one-time digital KYC, businesses can choose between Bank Box Go - a POS solution with zero rental and zero MDR or Bank Box Lite - a QR solution with 0 rental and 1% cashback on all transactions and instantly go live. In both offerings a merchant gets a UPI QR and a Moneyback Card. Bank Box Go additionally provides an affordable mPOS capable of accepting chip + pin and contactless card payments. For Bank Box Go merchants have to pay a one-time fee of Rs. 4,000 plus taxes while for Bank Box Lite, they pay only Rs.199 plus taxes.  

Sameer Hoda, President, Strategy and Operations, Mswipe said, “With Bank Box we have democratized the digital acceptance and payments ecosystem for the smallest of businesses by giving them a choice. With Mswipe now both an acquirer and issuer, we have provided an end-to-end digital enablement of MSMEs and merchants and empowered them to join the Digital Bharat movement.”

While mPOS allows acceptance of multiple modes of payments including UPI, Visa, Mastercard and American Express, mQR accepts payments from more than 150 UPI and mobile banking apps like PayTM, Axis Bank and BHIM among others. To spend digitally, merchants can load their Mcard with up to Rs. 1,00,000 per month 

Mswipe is targeting merchants with an average daily digital collection of Rs. 2,000 - Rs.2,500 in tier 3-4 markets and Rs. 8,000 - Rs. 10,000 in Metro and semi-urban areas.

About Mswipe:

Mswipe aims to be India’s largest financial services platform for SMEs and merchants by providing seamless mobile POS and value-added Services. It is the largest independent mobile POS merchant acquirer and network provider with 6.75 lakh POS and 1 million QR merchants across the country. Mswipe offers a host of POS solutions for all types of payment acceptance - cards, wallets, mobile payment apps and bank apps, contactless and QR payments. Headquartered in Mumbai, Mswipe began operations in 2011. Its key investors include B Capital, UC-RNT, Falcon Edge Capital, Matrix Partners India, DSG Partners and Epiq Capital.

TReDS Processed Payments worth Rs. 19,000 Crores to Ensure Timely MSME Payments: Ketan Gaikwad, MD & CEO of Receivables Exchange of India (RXIL)

In a recent webinar hosted by The Indian Paint Association (IPA), affiliated to CII on “Decoding the Economic Package  Reviving Growth - Reinventing Strategies”, Ketan Gaikwad, MD & CEO of Receivables Exchange of India Limited (RXIL) addressed an awareness session on TReDS. He stressed upon the importance of TReDS in helping MSMEs in better management of their cashflows. TReDS is an institutional mechanism set up by the Reserve Bank of India to facilitate trade receivable financing of MSMEs from corporate buyers through multiple financiers. 

The core objective of the webinar was to be able to address and educate the participants about the functioning and benefits of TReDS which has ensured MSMEs to receive payments worth Rs. 19,000 crores on time.

Currently, the payment recovery cycle falls above 90 days for a majority of MSMEs and payment delays become a huge problem for business continuity of such enterprises. In a recent interview, Nitin Gadkari, Union Minister for MSMEs, said that the Central, state governments, government-owned companies and the private sector owe small business outstanding dues worth ₹5 lakh crore. TReDS (Trade Receivables Discounting System) could be a viable solution to settle these dues.

“In the pandemic induced lockdown alone, RXIL has noted an uptick of MSMEs and their large corporate buyers becoming a part of the platform as more people realise the importance of invoice discounting. By enabling digital onboarding and a waiver of onboarding charges, the platform has been able to provide their services to MSMEs in a seamless manner,” Gaikwad explained.

MSME Ministry vide its Notification dated November 02, 2018, had mandated all Corporates with a turnover of more than INR 500 crores and all Public Sector Enterprises to get themselves registered on the TReDS platform to ensure liquidity for MSME Suppliers against their receivables.

“We urge MSMEs and corporates to register with TReDS and avail the benefits of quick and easy financing. TReDS offers a win-win proposition to large corporate buyers and their MSME sellers. The MSMEs get their dues paid on time while the corporates can enjoy an extended credit period,” the RXIL Chief Executive appealed to the webinar participants and MSME.

Both the seller and the buyer need to be registered on RXIL’s platform to take the benefit of TReDS. The registration charges on the platform have been waived off till 30^th September 2020 under the SIDBI’s Swavalamban Crisis Response Fund.

About Receivables Exchange of India:

Receivables Exchange of India is an RBI accredited TReDS (Trade Receivables Discounting System) Exchange Platform. Started as a joint venture between Small Industries Development Bank of India (SIDBI) and National Stock Exchange of India Limited (NSE) with State Bank, ICICI and Yes Bank as other stakeholders. RXIL empowers small businesses to realize their growth potential by accelerating their collections. With its innovative digital platform, MSMEs today can auction their trade receivables at competitive rates, through online bidding by financiers, and gain access to capital in less than 48 hours. This helps SMEs with major liquidity problems and puts a healthy cash flow back into their working cycles for smoother runs in their businesses. RXIL has close to 3,000 MSMEs, 500 buyers and 35 financiers on the platform.

51.4% of MSMEs Assessed were 1st Time Borrowers, says NeoGrowth Research

‘Social Impact’ study conducted from a base of 17,000 MSMEs across 7 cities; the research report highlights the credit inclusion of small and medium businesses 

An exhaustive study by NeoGrowth Credit on a base of over 17,000 MSMEs across cities including Mumbai, Delhi NCR, Hyderabad, Pune, Bengaluru, Lucknow, and Ahmedabad, revealed some interesting insights about the MSME industry.

Credit bureau scores have been traditionally used as a report card of one's credit history and repayment behavior. The lack of sufficient credit history or no credit history usually makes it difficult for the borrower to get loan approvals. According to NeoGrowth Research, over 51.4% of the MSMEs assessed were first-time borrowers.

According to the Sixth Economic Census released by the Ministry of Statistics and Programme Implementation in 2018, women constitute around 14% of the total entrepreneur base in India i.e. 8.05 million out of the total 58.5 million entrepreneurs. 

10.8% of the total disbursements of the 17,000 MSMEs assessed for FY2019-20 were towards businesses that were run by women either as sole proprietors, partners, or directors. 

The entrepreneurial ecosystem in India has been conventionally led by experienced players that have been reigning in their respective markets for generations. While first generation entrepreneurs are finally emerging in the scenario, they are starved of growth opportunities majorly due to a lack of credit. NeoGrowth Research establishes that about 77.6% of the MSMEs assessed were revealed to be first-generation entrepreneurs. 

With digital connectivity growing rapidly and emergence of smart cities, Tier-2 and Tier-3 cities are the new business hubs, employment centres and consumer markets of the country. About 19% of the MSMEs assessed in the study, were originating from Tier-2 cities.

The Indian Government considers MSMEs and entrepreneurship as key to driving economic growth, innovation, job creation and social upliftment across the nation. By generating 120 million employment opportunities, MSMEs boast of being the second largest job creators in the country. As per the study, 28% of the MSMEs assessed showed an increase in the number of their employees’ post availing a business loan.

These insights form part of an annual assessment conducted by NeoGrowth. Over these years, NeoGrowth the company has successfully maintained its unique product proposition by providing collateral free, short-term, quick, and customized business loans on flexible repayment terms. Having disbursed loans amounting to more than INR 5,500 crores, NeoGrowth has been funding and enabling MSMEs to grow and sustain their businesses while continuing to tread on its initial journey of achieving inclusive growth. 

Mr. Dhruv Khaitan, Founder and Chairman, NeoGrowth said, “We are happy to share our Sixth Social Impact Report, an annual effort to engage with our key stakeholders – MSMEs, to understand their financial needs, challenges faced by them and assess the impact of lending activities on their lives. At NeoGrowth, we have always focused on creating strong positive social impact on MSMEs by lending to first generation entrepreneurs, assisting women entrepreneurs and enabling our customers in job creation and improvement of credit scores via our loans.”

NeoGrowth Research is the in-house research team of NeoGrowth that keeps a continuous track on the emerging trends in the payments, fintech and MSME sectors and publishes insights.

About NeoGrowth:

NeoGrowth Credit Pvt. Ltd is a Systemically Important, Non-Deposit taking NBFC and a pioneer in SME lending based on the underwriting of digital payments data. NeoGrowth provides finance to small business owners to drive business growth that matches their ambitions. Hassle-free loans are powered by technology innovations and leverage the digital payments ecosystem. It provides financing to retailers, restaurants, apparel shops, kirana stores, petrol pumps, groceries, pharmacies and other MSMEs with flexible repayment options and customized products addressing multiple business needs. It not only helps its customers grow but also drives financial inclusion making a positive social impact. NeoGrowth is backed by renowned investors, namely Omidyar Network, Aspada Investment Company, Khosla Impact, Accion Frontier Inclusion Fund – Quona Capital, IIFL Seed Ventures Fund and Leapfrog Investments.

Edelweiss Decodes Sustainability for MSMEs as part of International MSME Day

Context for panel discussion stemmed from a detailed customer study conducted by Edelweiss with over 2000 MSMEs across India 

Business disruption was significant during the month of April, with improvement in activity and sentiments visible over the last few weeks. 

Optimism and resilience are high among majority of MSMEs, though challenges related to receivables and supply chain continue to impact many of them

Mumbai, June 30^th2020: Edelweiss SME Lending celebrated its third consecutive edition of International MSME Day through a virtual webinar comprising a panel of industry experts. The theme of the panel discussion was ‘MSMEs: New Heroes in the New Normal!’

Rashesh Shah, Chairman & CEO, Edelweiss Group said, “The last 4-5 years have been truly transformative for MSMEs, with the introduction of GST, the India stack and formalisation of the sector and economy. COVID-19 has impacted the MSMEs but it could also potentially be a trend accelerator for the business. The pandemic is opening up fresh opportunities for businesses to script better stories of success. The current economic condition is an opportunity to recalibrate, retest and most importantly repivot. We need to view the current context and the India story with a bi-focal lens, one that balances these short-term challenges, with the long-term opportunity.”

The current situation has posed several challenges to the spirit of entrepreneurship. Survival of business in the long-run and getting payments from clients, remain the top two concerns for SMEs and retail businesses. The webinar sought to acknowledge the contribution of MSMEs in light of current challenges, while leveraging this as a platform to share insights and expertise on what to expect in the near future and thrive, in the new normal that awaits us.  

Panellists included Mr. Mehernosh Tata (Head, Edelweiss SME Lending), Mr. Sunil Srivastava (Ex Dy MD, State Bank of India; Sr. Advisor Edelweiss & World Bank), Mr. Navin Chandani (MD & CEO, CRIF High Mark), Mr. Shailendra Kawade (Promoter & Chairman, Mylab Discovery Solutions) and Mr. Vikas Dimri (Director, SME Head – Trade & Working Capital, Deutsche Bank).

In his closing remarks, Deepak Mittal, CEO Credit, Edelweiss Group, said, “MSMEs are realising that business models will need tweaking, be it in delivery or servicing, in demand aggregation or in digitizing payments. Reinvention and reimagination, have now changed in their definition. MSMEs should seize this opportunity to reconnect with their customers and rethink their proposition. This is a time to be nimble and MSMEs can be far quicker, to leverage emerging opportunities vis-à-vis larger enterprises.”

Key insights from the panel discussion are as follows - 

• While uncertainty is high, fundamentals of business remain the same. Indian businesses are resilient by design. The inherent capability to find ways to survive & thrive shall never be underestimated
• Flexibility, agility and increased adaptability to evolving customer needs, will be key to future sustainability 
• Social distancing will continue, but customer engagement and reach must deepen as we move from a product-centric to customer-centric economy 
• Digital transformation is underway. For a lender, it speeds up decision making and improves quality of credit decisions. For MSMEs, they can access quicker credit when needed. Banks will now have the ability to make better credit decisions
• Digitization, Alternate Data and increased focus of Financial Fitness, will be key to profitability when considering future business models   

About Edelweiss SME Lending:

Edelweiss SME Lending commenced operations in 2013 and has grown organically to service the MSME industry over 100 cities and towns in India and offers small business loans, equipment loans and loans secured against residential, commercial and industrial properties. The delivery is backed by technology platform and use of data analytics to decision the loan faster.

The SME business is one of the early adopters of technology in the lending space and is working on introducing new, innovative products with an objective to entirely serve the MSME eco-system. The business has been at the forefront of testing and adopting several digital initiatives which span customer acquisition, credit decision architecture, on-boarding and customer life cycle management. 

78% Indian MSMEs Shutdown During Covid-19 Pandemic - Study

• Spocto conducted study on Loan Moratorium for lending organizations, titled "The Ground Truth - Voice of Indian Borrowers”,
•  Study reveals support customers need, its current awareness and understanding of Moratorium & its impact on their payment amount

As the coronavirus pandemic unleashes a devastating impact on businesses, institutions and society, Spocto, one of India’s leading big data analytics-based banking and financial services company, has initiated a comprehensive well detailed study entitled ‘The Ground Truth – Voice of Indian borrowers’. It consists of views and insights from 1.800 account holders across cities pan India such as Mumbai, Pune, New Delhi, Bangalore, Kolkata, Ahmedabad etc., wherein the study presents actual and actionable insights from the consumers on moratorium

The pandemic left countless working professionals bereft of employment opportunities, and factors like layoffs, salary cuts and reduced earnings have resulted in a mass exodus of both skilled and unskilled workers from the big cities to their hometowns. In this light, the data received from these retail loan account holders brings in insights pertinent to the ground reality, the support they need, their current awareness and understanding of Moratorium & its impact on their payment amount. 

The study primarily revealed the following key findings; 

• 59% of consumers witnessed complete loss of income due to COVID-19
• 34% employees from present workforce pool have lost their jobs
• As a result of the fiscal depravity, a staggering 78% of the MSMEs were forced to shut down operations due to zero revenue generation.
• 76% of the overall account holders have taken small-ticket loans amounting to Rs 50,000 in EMIs while it is mostly the unsecured loans that have contributed to the plunge in repayments than secured loans
• 78% of the consumers opted in for the initial Moratorium period (March to May), which implies that 22% either willingly chose to opt out or did not OPT IN from their bank’s Moratorium offer.
• 75% of the borrowers highlighted the need for more clarity and education surrounding moratorium. In a similar vein, 64% of the borrowers affirmed that they are aware regarding the interest that is levied on availing the moratorium clause.  
• 38% consumers prefer to speak or interact with a human interface to get their queries resolved
• Digital is the new de-facto medium for 62% of the loan borrowers reflecting on their need for real time, bias free, consistent & authentic resolutions
•  In another frame, about 28% consumers were discontented with the level of conversation with their banks 46% only are satisfied with the banks efforts on explaining the terms of Moratorium to its customers
• 37% consumers stated that they require support from the financial system in the form of essential loans for personal expenditure in the next 12 months
• Lastly, more than 56% customers are now yearning to opt out of the Moratorium 

Commenting on the revelations of this diligent and eye-opening study, the spokesperson for Spocto Solutions, Mr. SumeetSrivastava, Founder and CEO said, “The year 2020 has proven to be the proverbial Black swan event for all industries and their professionals. This period has also unfolded a few valuable takeaways, namely, that it is time the banking and lending ecosystem revamp their engagement policies and strategies, as their customers may not have the means to pay back their loans within the allotted time-frame. But this also on the other end implies that, they may have the willingness, but not the ability to pay right now. The banks must also keep in mind that these customers who are victims of the market inertia with all probability shall return to the financing space in the span of a year or two with at least 15-20 years of potential service. Hence banks should rather value the long term customer rather than smite down a short term defaulter. The banks too should focus on the heightened optimization of digital and efficient pathways of loan disbursement and recovery to generate greater consumer traction and engagement. This will not only help the ailing sector get back to its feet in due time but will also catalyze the re-building and recuperation of the considerable hammering that the sector experienced due to the catastrophic contagion. “

Lending organizations that prioritizes consumer engagement and digital collections, will witness the resurgence of revenue flows and hopefully carve a better and ebullient future in contrast to the present doldrums of the stifling post-pandemic scenario.

Dell Technologies, NASSCOM to Build Robust Ecosystem to Support SMEs, Startups Across India

• Exclusive offers on Dell's Client and Infrastructure solutions to ensure business resiliency


• The partnership is aimed to benefit more than 2400 SMEs and 9000+ startups pan India

Dell Technologies has collaborated with the National Association of Software and Service Companies (NASSCOM) to help SMEs and Startups ensure smooth operations and maintain business continuity during the present challenging times. Positioned under NASSCOM's SME Advantage program, this partnership intends to build a robust ecosystem to support them, by bringing together important products and services, indispensable for any business, at a competitive price.

Dell's association with NASSCOM is set to impact more than 2400 SMEs, and 9000+ startups that are part of NASSCOM 10,000 Startups network. They will be provided with exclusive offers and rates on Dell's Client and Infrastructure solutions. With these solutions, the organizations can equip their teams with industry leading technology and ensure business resiliency.

“At Dell, we are committed to ensuring smooth operations and business continuity for our customers. Through this unique collaboration with NASSCOM, we are taking a step further towards building an ecosystem that is aimed at making organizations much more competitive and operationally efficient. This partnership will present exclusive offers on Dell's Client and Infrastructure solutions to the NASSCOM members enabling them to keep their organizations agile, secure and growing in today's rapidly changing environment. Our solutions are designed to empower organizations to continue with their business as usual and innovate into a new future,” says, Alok Ohrie, President and Managing Director, Dell Technologies India.

“COVID has not only upended lives but also disrupted businesses globally. At NASSCOM, we are committed towards harbouring a conducive environment for our SME and Startups and help them amid these testing times. We are extremely delighted to partner with Dell Technologies under our SME Advantage program to bring exclusively curated solutions for our SME members, and together play a key role in their business resiliency efforts,” says, Debjani Ghosh, President, NASSCOM.

The partnership is aimed at helping the ecosystem evolve digitally, while reducing their operational costs, by leveraging premium products and services from Dell Technologies at best prices. The client solutions offered are designed to keep the organization secure and their employees productive, no matter where they work from. Along with this, Dell's infrastructure solutions will enable them to have greater control of their IT and, help protect their business and customer data with better security measures.

About NASSCOM

The National Association of Software and Services Companies (NASSCOM®) is the premier trade body and chamber of commerce of the Tech industry in India and comprises over 2800-member companies including both Indian and multinational organizations that have a presence in India. Our membership spans across the entire spectrum of the industry from start-ups to multinationals and from products to services, Global Service Centers to Engineering firms. Guided by India's vision to become a leading digital economy globally, NASSCOM focuses on accelerating the pace of transformation of the industry to emerge as the preferred enablers for global digital transformation. Our strategic imperatives are to reskill and upskill India's IT workforce to ensure that talent is future-ready in terms of new-age skills, strengthen the innovation quotient across industry verticals, create new market opportunities - both international and domestic, drive policy advocacy to advance innovation and ease of doing business, and build the Industry narrative with focus on Talent, Trust and Innovation. And, in everything we do, we will continue to champion the need for diversity and equal opportunity.

NASSCOM has played a key role in not just the growth of the Industry to become a $180+Billion industry today, but we have helped establish the Tech industry in India as one of the most trusted partners, globally. NASSCOM continues to make significant efforts in contributing towards India's GDP, exports, employment, infrastructure development and global visibility. Our membership base constitutes over 95% of the industry revenues in India and employs over 4 million professionals, and as technology blends into every aspect of the economy, we expect the industry to become key driver of growth, development and inclusion for the country. Our mission is to make India a global hub for Innovation and Talent so when the world thinks Digital, the world will think India.

About Dell Technologies

Dell Technologies (NYSE:DELL) helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry's broadest and most innovative technology and services portfolio for the data era.

Haryana launches Online Portal to Bring Enterprises of All Kinds on Single Platform

Haryana Chief Minister Manohar Lal Khattar on Friday launched a portal aimed at bringing all types of enterprises registered in the state on a single platform.

The Haryana Udhyam Memorandum (HUM) portal will provide a unique identification number to all enterprises -- shops, MSMEs, large and mega industries -- to enable permissions and services from the government to be provided in an integrated manner, an official release said here.

The HUM portal will also enable registration of labour engaged by the enterprises, creating a database of all employees engaged in industrial enterprises in Haryana, it said.

The database will also obtain details of migrant workers.

The HUM unique identification number would form the primary key for integrating services and data in respect of Haryana and enable better planning and support.

Deputy Chief Minister Dushyant Chautala, who also holds the portfolio of Industries and Commerce and Labour and Employment Departments, was also present on this occasion.

The statement said that the portal has been developed as per the chief minister's vision to bring all types of industries -- micro, small, medium and large enterprises -- registered in Haryana on a single platform.

"It is a user-friendly portal and for registration, the industries are required to fill up basic details. The registered enterprises would also have to upload the basic details of their employees engaged in the enterprises," the statement said.

The chief minister said that it would help create a complete database of all types of industries registered in Haryana as well as employees working in it.

The database would help the state government in formulating welfare policies, he said. PTI SUN

TiE Mumbai Advises Startups for MSME Registration

There is no doubt that the MSMEs (Micro, Small and Medium Enterprises) are today the precursors of India's economic growth. They are major contributors to the tax base of India. The government has run several developmental avenues for the empowerment and expansion of the MSME sector. It is beyond any doubt that the key for Startup founders to access all such avenues is to obtain the Udyog Aadhaar MSME Registration in India.

"I see merit in Startups especially early stage and growth stage to avail the benefit of MSME registration. We welcome and support the Government's initiative to make liquidity available to all businesses and this will help the economy to bounce back sooner," said Atul Nishar, President, TiE Mumbai.

Sanjay Mehta, Founder & Partner 100X.VC and Board Member, TiE Mumbai

"With the Atmanirbhar package, MSME registration for startups is a necessity as there are good benefits which early stage companies can avail of besides the loan package which is still getting rolled out. MSME SAMADHAAN is one such benefit where a startup will get payments in a maximum of 45 days. Financial assistance through MSME incubators is also a key attraction. At 100X.VC we are asking all our startup portfolio companies get the MSME registrations," said Sanjay Mehta, Founder & Partner 100X.VC and Board Member, TiE Mumbai.

Startups have long been facing a problem of delayed realisation of their bills and receivables, particularly from large corporate buyers and government organisations. Especially in the times of COVID-19 when the need for cash flow for startups is at the highest level, being MSME registered makes good sense for Startups given its numerous benefits. The Micro, Small and Medium Enterprises Development Act, 2006, MSME SAMADHAAN made provisions to mitigate the problem of delayed payment, whereby any buyer who fails to make payment to MSMEs, as per agreed terms or a maximum of 45 days, would be liable to pay monthly compounded interest at three times the bank rate notified by RBI.

Any individual or Micro and Small Industries (MSEs) startup that has innovative business ideas at near commercialisation stage can approach the Business Incubators approved under the scheme. Under the scheme, various institutions like Engineering Colleges, Management Institutions, Research labs, etc. that have in-house incubation facilities and faculty for providing handholding support to new ideas/entrepreneurs can apply in the prescribed application form. The main objective of the scheme is to promote & support untapped creativity of individuals and to promote adoption of latest technologies in manufacturing as well as knowledge based innovative MSMEs.

Benefits of the MSME registration

• Financial assistance up to 15 lakhs for developing and nurturing an idea.


• Financial assistance of up to 1.00 Cr. as grants in aid for the seed capital support to HIs/BIs for converting deserving ideas into startups


• MSME registration helps in getting government tenders


• Under bank loan, 15% import subsidy on fully automatic machinery


• Becomes easy to get licenses, approvals and registrations, irrespective of field of business.


• Compensation of ISO certificate expenditure


• Registered MSMEs gets tariff subsidies and tax and capital subsidies


• Gets exemption under Direct Tax Laws

For more details of Atmanirbhar package and its Benefits, please visit www.msme.gov.in.

Other initiatives by TiE Mumbai

In this unprecedented scenario, TiE Mumbai continues to assist Startups and has organized several webinars with investors, legal assists, Industry leaders and mentors to help entrepreneurs with much needed guidance to tide over the current situation.

Tech in new retail - Post-COVID-19 - While the Retail industry is getting ready to face new challenges to revive the business in post-COVID-19 phase, there seems to be consensus on certain new trends. Online, whether it is Commerce, Education or Collaboration certainly seems to have gained traction. In retail, Contactless Commerce, In-store digital experiences, Integrated Commerce across new channels, In-store Social distancing, Contactless Payments etc. are emerging as new business requirements for post outbreak customers. Having an online presence will not be a choice anymore but hygiene. The webinar deliberated on the technology imperatives & opportunities from the COVID situation.

Is Your Business Ready to Face the Corona Challenge - This was a mentoring session for startups in the areas of Revenue & Income Optimization, Partnerships & Alliances, Investment & Financing, Operations & People issues and Cash Flow & Financial Management.

Webinar on Raising Funding in Difficult Times - This session focused on the importance of maintaining a nibble footed, solid low-cost business model to tide over the current situation. With a crunch of liquidity and poor consumer sentiments, investors will now look for niche business models to invest in.

Content Is the New Gold - This Ask Me Anything session provided insights for Startups on Content Creation, Brand Building, Customer Engagement & Acquisition through Content, Product /Services Review & Opinions System and Consumer Analytics & Retention in the Social Media World.

Understanding the Challenges of Deploying AI in Retail - AI's impact in retail is being felt across a range of functions and use cases ranging from auto-replenishment and preventing stock-outs, to automated self-checkouts to computer vision-based category analytics. This webinar explored the emerging use cases where AI is seeing deployment benefits, how retailers are evaluating between build vs buy decisions while sourcing and how retailers are navigating complex issues around user adoption, data quality, and data literacy.

Ask Me Anything with Sasha Mirchandani - This session focused on how to survive the COVID situation and understanding the cash position of the company. He stressed on active communication with all stakeholders, the need to hire opportunistically, explore what will drive growth, innovative concepts of work and also dealt with challenges of managing employees/ teams.

TiE Mumbai supported The Economic Times Sales Strategy Summit - It is a virtual summit featuring live appearances and workshops by some of the greatest minds in sales and marketing. The focus of the summit was to learn how to over deliver at every stage to generate thrilled buyers. The summit also looked at key topics such as buyer journey, productive and effective sales technology, diversity and inclusion in sales force and aligning the sales and marketing functions.

About TiE Mumbai

The Indus Entrepreneurs (TiE), was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. Since 1992. TiE has been supporting entrepreneurs by offering education, mentorship, networking and funding opportunities. The mission of TiE is to foster entrepreneurship globally through the 5 pillars of TiE: mentoring, networking and education, funding and incubation. Dedicated to the virtuous cycle of wealth creation and giving back to the community. TiE's focus area is to generate enable the next generation of entrepreneurs. There are currently 11,000 members, including over 2,500 charter members in 60 chapters across 17 countries. TiE's mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE's focus is on generating and nurturing our next generation of entrepreneurs.

Visa and Fintech Firm Zaggle to Jointly Create Payment Solutions for SMEs, Startups

Fintech startup Zaggle on Saturday said it has partnered with payments technology major Visa to launch innovative payment solutions for SMEs and startups. 

Under this partnership, both the companies will jointly create solutions for small and medium enterprises (SMEs) and startups to improve productivity, efficiency and automate processes and reduce costs along with focusing on easy and faster credit through a unique card which will have forex, prepaid along with credit, Zaggle said in a statement.

Zaggle will leverage Visa's expertise in the payments space to co-create and build new solutions for SMEs and will also be able to acquire new customers and merchants and get the latter's support for newer technological innovations and ideas.

"This partnership will help us expand our services and client base who need to improve automation and digitise spends to bring in more transparency. In addition to this, our collaboration focuses on improving the working capital management of SMEs who are in dire need of a payment instrument that will help them optimize and improve cash flows for all their business expenses,” Zaggle founder Raj N Phani said. 

The platform adds over 600 SMEs every month, he said adding that with special focus on SMEs in the country which have been hardest hit due to this pandemic, it will be benefitted with a credit line, digitised spend and ability to borrow more by being able to show more digital transactions.

"SMEs remain the backbone of our economy. Now more than ever before, it has become more important for SMEs to assess how to best digitise their businesses," Arvind Ronta, Visa Head – Products, India and South Asia, said. 

One such innovation is the 'Founders Card', a credit card, which Zaggle is planning to launch founders and CEOs of SMEs and startups in the next 45-60 days.

Zaggle currently works with more than 3,000 large customers and will open this platform to a million SMEs and has recently announced free Zaggle SAVE Do-it-Yourself (DIY) AI Powered Expense Management Solution for SMEs along with other cutting-edge API Banking products. PTI SM