Topic
msme
For Ease of Liquidity and Business, Government to Amend MSME Act
The Government of India intends to amend the Micro, Small and Medium Enterprises (MSME) Act to enhance liquidity and ease of doing business. The move, reported by Times of India, signals a strategic shift to support the MSME sector, which is vital for employment and economic growth. The amendment aims to address regulatory bottlenecks and improve access to finance.
Just 14% of MSMEs Get Formal Loans Despite India's Digital Finance Boom: Deloitte Report
Deloitte's State of Financial Services in India report reveals that only 14% of MSMEs have access to formal credit, leaving a credit gap of at least Rs 25 lakh crore. Despite India's advanced digital payments ecosystem, inclusion gaps persist with low formal credit penetration and insurance coverage.
Trade MSME Ministry Reviews West Asia Crisis Impact on Trade
The Indian MSME Ministry, led by Minister Jitan Ram Manjhi, is reviewing the impact of the West Asia crisis on small businesses. The focus is on supply chain disruptions, raw material availability, and export-import challenges.