The Micro, Small and Medium Enterprises (MSMEs) Sector contributes significantly to the Indian Economy in terms of Gross Domestic Product (GDP), Exports and Employment generation. As per Central Statistics Office (CSO), Ministry of Statistics & Programme Implementation (MOSPI), the Share of MSME Gross Value Added (GVA) in total GVA during 2016-17 was 31.8%. The Share […]
Technology has changed the way of doing business. Now a days era of automation and artificial intelligence. As a result manual work is minimized to a great extent. Be it MSME, start up, or Large Unit importance of technology cannot be undermined. However, many Small & Medium Enterprises (SMEs) stay away from investing in technology […]
MSMEs are the crucial part of the country’s Industrial Sector. MSMEs provide employment to around 120 million persons and contribute around 45% of the overall exports from India. The sector has consistently maintained a growth rate of over 10%. This MSME sector has enormous potential for growth in the coming years while eradicating poverty & […]
In this era of strong competition the importance of costing of a product need not be over – emphasized. Accurate Costing helps to price the products competitively. Competitive pricing helps in promoting sales and contesting international competition. The price for export should be as realistic as possible as the exporter has to compete with the […]
Water is a precious limited natural resource. However, the demand for water is increasing day by day due to urbanization, industrialization, increase in population and improvement in standard of living. Utilization of water is more due to its low cost. Now industries understand the significance of water conservation due to environmental regulations and various awareness […]
Every industry whether small or big needs energy to carry out their operations. The sources of energy for MSMEs are electricity, coke/coal, petroleum products. The consumption of energy is high and hence energy conservation is the need of the hour. MSMEs do not have control on Energy, (Man & Machine) & Raw Material prices and […]
INTRODUCTION To thrive in a dynamic world economy, businesses have to make informed financial decisions and decisions must be taken after considering multiple verticals of the company and market. Here financial advisory comes into the picture. Financial Advisory is one of the important parts of management consulting which helps the organization to achieve its financial […]
Post understanding of eligibility, procedure, documentation to avail subsidies/incentives it is pertinent to note the nitty-gritties of subsidies to avoid hurdles in due course. We tend to overlook the basics which result in the rejection/delay in sanction of the proposal. For the purpose of availing aforesaid incentives, manufacturing and service industries have been categorized into […]
Power is the primary requirement of any industry and if the electricity is costly, the price competitiveness will not be there and the unit cannot survive. Running a business involves a wide variety of operational expenses. These include a number of utility costs for items such as electricity, water and natural gas. Irrespective of the […]
