Five startups in mining, mineral sectors get Govt grants
A total of 56 startups/MSME participated out of which 5 have been selected for funding a total of Rs 6 crore based on milestones.
A total of 56 startups/MSME participated out of which 5 have been selected for funding a total of Rs 6 crore based on milestones.
Since its inception in 2000 till November 30, 2023, The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has extended guarantees amounting to Rs 5,33,587 crore.
The Union Ministry of Mines announced on Wednesday that it has decided to fund research and innovation in startups and MSMEs in the mining, mineral processing, metallurgy and recycling sector (S&T-PRISM) and has brought out guidelines for the scheme.
India’s small businesses have shown tremendous growth as the number of jobs reported by micro, small and medium enterprises registered on the government’s Udyam portal has crossed the 15 crore-mark.
On Tuesday, the long-awaited Mediation Bill 2021 was finally enacted by Rajya Sabha. It is anticipated that mediation legislation will provide relief to industry, business, and families from the delays of courts in resolving disputes, or in the parlance of legal luminaries, litigation. The mediators assert that only disputes are brought to them.
The Centre has notified that all registered micro small and medium enterprises (MSMEs) would be allowed to avail of all non-tax benefits for three years instead of one year, even after upward graduation in their category and consequent reclassification.
Goyal told industry leaders to be proactive in giving inputs to the government, especially in areas like FTA negotiations.
By modernizing and adopting green technological innovations, India's MSME sector can create new economic opportunities and strengthen its long-term competitiveness.
"Our government has taken a landmark step of including retail and wholesale trade as MSME. This will help crores of our traders get easier finance, various other benefits and also help boost their business" wrote PM Modi
MSMEs are a crucial part of the economic and social fabric of the country, and complete recovery will only be possible with high-intensity and strategically structured support to this high-spirited sector.