30 May 2020

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MSME global meet for branding India Inc

Two-day international conference on 'globalization is irreversible: need for branding India Inc and making MSMEs competitive,' would be held  from 2nd March, according to some media news.

The objective of the conference was to share what was known and to be known by academicians and international entrepreneurs, which would have topics on various topics, S Venkatesh, Secretary, Sree Saraswatyi Thyagaraja College, Pollachi, the joint organisors, of the conference.

India to establish National Automotive Board

According to an official, the Department of Heavy Industry, Government of India has already finalised the proposal to set up NAB, which would be cleared by the Cabinet in a month's time. Elaborating on the advantages of NAB, the official told that the Board would be a bridge between the Government of India and the automotive industry, especially in promoting research and development arena.  As part of its endeavour to encourage sustainable development of Indian automotive segment, the Government of India has decided to establish a National Automotive Board by April this year.

Yebhi.com becomes Customer & Brand Loyalty Award Winner

Yebhi.com, a home, lifestyle and fashion e-retailer, announced that it has bagged the Customer & Brand Loyalty award in Online Retailing Sector at the 5th Loyalty Awards by AIMIA, an international organization specialized in customer loyalty programs.

These awards are the outcome of a combination of consumer research undertaken in five major cities aided by nominations received from organizations.

Global Fashion brands gearing up for India

The seasons have been very favourable to the global luxury brands to embark on Indian markets, which has been on the high tide. The first signal of opportunity was raised by the CII-AT Kearney report which predicted that the booming Indian luxury market was growing at 20 per cent a year and would become $14.7 billion by 2015, from $5.8 billion now.

It was followed by the government decision to allow 100 per cent FDI in single-brand retail. Though it had only a lukewarm reception initially, a host of luxury international brands have suddenly woken up. Fashion media reports suggest that they are gearing up to venture into India.

Is SME Exchange delayed?

Launch of a dedicated stock exchange for small and medium enterprises (SMEs) may get delayed due to prevailing uncertainty in bourses, a senior government official said.

"I think they (the Bombay Stock Exchange and the National Stock Exchange) are looking at a good time to launch because the stock market had not been doing so well," Secretary in the Ministry of Micro, Small and Medium Enterprises (MSME) R K Mathur said.

He said that most of the regulatory hurdles to set up exchanges have been resolved. "Our (Ministry) side, there are no issues to be sorted out," Mathur added.

Plan to boost Indian electrical equipment industry

With an objective to reduce the power demand-supply gap in the country, under the aegis of the Department of Heavy Industry (DHI), and with support from Institute of Environmental Management and Assessment (IEEMA), the government had drawn up ‘Mission Plan 2012-2022’ in consultation with all the key stakeholders. The plan lays down roadmap to enhance the competitiveness of the domestic electrical equipment sector.

The government has said that the proposed eleven year mission plan to boost the sagging electrical equipment industry will be ready by April 2012.

Online marketing way forward for Indian SMEs

The number of small and medium enterprises (SMEs) in the engineering sector marketing their products on the B2B portals has almost doubled to 44,000 in 2011, according to a survey.

"This shows that in volatile market conditions, SME units in the engineering sector have been looking for low cost channels to market themselves," IndiaMART.com Founder and CEO Dinesh Agarwal said. About 25,000 engineering SMEs were marketing their products using the firm's portal in 2010.

Mr Dinesh Agarwal

SMEs of Engineering Sector Eyeing growth

The Engineering sector is the largest in the overall industrial sectors in India. It is a diverse industry with a number of segments, and can be broadly categorised into two segments, namely, heavy engineering and light engineering. The engineering sector is relatively less fragmented at the top, as the competencies required are high, while it is highly fragmented at the lower end (e.g. unbranded transformers for the retail segment) and is dominated by smaller players.

The Indian engineering industry has displayed hope that it accounts for 12% of the overall Indian economy.

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