MSME newsletter 6 Feb 2023
7th February 2023 3276
From The Editor’s Desk: This newsletter gives details on the major budgetary initiatives for India in 2023 as well as their effects on various industries. Read on to learn more about how India is contributing to global economic growth, which North American nation is experiencing growth, and which African countries are among those with the fastest growing economies. -Puneet Kaur Saluja

HIGHLIGHTS OF THE WEEK

India Budget

Schemes for MSMEs in Budget to help boost exports: AEPC

Nirmala Sitharaman said that a new credit guarantee programme for MSMEs with an investment of Rs 9,000 crore will be introduced. The announcement to expand the PLI scheme to new sectors and the support for the MSME sector will boost the nation’s exports and investment.

Economic Times

Weekly MSME News Updates

International Business

Budget proposals to help boost India's exports: Piyush Goyal

Piyush Goyal stated that India will end the year with a double-digit increase in both commodities and services. Together, India’s exports of commodities and services are growing by about 14–15%. The export of LGD could increase by another 4x or 5x in the upcoming years.

Economic Times
International Business

Finance Minister Nirmala Sitharaman announces rejig in customs duty

Lithium-ion battery imports are now subject to a year-long extension of the reduced duty. Compound rubber will now be subject to a basic customs duty rate rise from 10% to 25%, or Rs 30/kg. FM Sitharaman proposed lowering the number of customs duty rates for products other than textiles from 21 to 13.

Economic Times
Manufacturing

Budget 2023: Govt allocates Rs 16,549 crore to IT industry, 40% higher on year

The Indian Semiconductor Mission has received a budget of Rs 3,000 crore from the government. The modified scheme for the establishment of semiconductor fabs in India has also been given Rs 1,000 crore in the FY24 budget. The project to establish display fabrication units in India has been given a budget of Rs 4 lakh.

Economic Times
Manufacturing

'India to become 5th country manufacturing semiconductors': Vedanta Chairman

The UPI payment method is the best in the world, according to Vedanta’s CEO. It is likely that one of the three semiconductor manufacturing proposals will be chosen to get funding through India’s $10 billion incentive programme. The $20 billion Gujarat plan from the Vedanta-Foxconn joint venture is expected to be the first to gain government approval.

Mint
Startups

Budget 2023 to support Indian's startup ecosystem: Piyush Goyal

The startup ecosystem would greatly benefit from an extension of the eligible startup entrepreneurs’ incorporation period for tax incentive purposes. Additionally, Nirmala Sitharaman has suggested easing norms for startups by extending the benefits of carrying forward losses for ten years.

Economic Times
Agriculture

Budget 2023 gives Rs 968cr digitalisation boost to connect, drive agriculture cooperatives

Rs. 2,516 crore is the estimated total cost for computerising PCAS. The programme intends to computerise PCAS, which will boost its effectiveness. The budget also includes funding for the construction of decentralised storage facilities, enabling farmers to store their goods and get remunerative prices for later sale.

Economic Times

Global News

North America

Mexico's economy logs 3% growth in 2022 with push from 3 sectors: Report

Industrial activity increased by 3.2% across all sectors in 2022, while agricultural activity increased by 3% and the service sector, which contributes the most to the GDP, increased by 2.7%. Alfredo Coutino said that Mexico continues to gain from exports to the US market as well as money from remittances and tourists.

Business Standard
Europe

EU unveils plan to counter US green subsidies, China competition

The bloc is rushing to compete with the US and China to stop companies from moving to North America or Asia. Repackaging current funding worth approximately 250 billion euros ($270 billion) for the green transition makes up the majority of the EU’s reaction.

Mint
Africa

Top 5 economies in Sub-Saharan Africa to watch out for in 2023,according to IMF

Angola, Ethiopia, Nigeria, Kenya, and South Africa are five of the fastest-growing economies in the world, according to the IMF’s most recent World Economic Outlook. With growth projected to be 3.6% in 2023 and 3.9% in 2024, this economy might quadruple in size.

Africa News
Latin America

IDC forecasts indicate 5% growth for Brazil's ICT market in 2023

According to a survey, it is expected that the market will expand overall by 5% this year, reaching a total of about US$ 80 billion. IDC Brazil forecasts distinct increases of 3.0% in telecom and 6.2% in IT. Spending on IaaS and PaaS will surpass US$ 4.5 billion in Brazil alone.

BN Americas
Asia

China, India, To Be Major Growth Drivers During 2023 - IMF

 

China, India, To Be Major Growth Drivers During 2023 – IMF

In 2023, China and India will be responsible for half of global economic growth. According to the IMF, China’s GDP growth would reach 5.2% throughout the year, while India would have growth of 7%. Pent-up demand for both domestic and export goods is anticipated to drive China’s growth.

Asia Briefing
Australia

Australia and US talks to strengthen high-tech cooperation Secretary Raimondo and Minister Husic talked about possi

Secretary Raimondo and Minister Husic talked about possibilities for collaborating on important technologies related to quantum and artificial intelligence. Husic said in a statement that the meeting provided a chance to show Australia as a safe, secure partner in scientific and technological collaboration.

MAN Monthly

Industry Insights

Industry Insights

Top Strategic Technology Trends for 2022

The CEOs’ top priorities are efficiency, digitalization, and growth. An opportunity exists for an IT leader to adopt force-multiplying innovations to quicken growth and strategically advance the organization. These innovations will provide reliable digital connections, innovative capabilities, and ways to quickly scale digital creativity.

Technova

eGrowth Events

Launch Event

MSME Bharat Manch Launched on 4th February

eGrowth is pleased to partner with MSME Bharat Manch. Our Director – Atul Puri is appointed at Director – North and is also an Advisory Board Member.

MSME Bharat Manch is a Unique One Stop Platform for MSMEs to Empower and Support them to become Self-Reliant & also in catering to all of their Enterprise Needs to grow exponentially in all their Functions from Sales & Marketing, Coaching & Consulting, Financial Assistance, Business Advisory, Learning & Development, Human Resource, Technology, Assistance for availing Subsidy from Local, State and Central Government or any other Professional Support and reach the last Mile Entrepreneur Nationally and Globally.

LinkedIn

eGrowth Insights

Funding

Raise debt or dilute equity

eGrowth is connected with multiple financial institutions who can help you with your funding requirements. These could be for working capital, acquisition, market expansion or any other investment.

We can help you access capital.

WhatsApp Automation Tool

Sampark Setu

The best WhatsApp Marketing App is now FREE
Sampark Setu App, which allows you to send campaigns, create chatbots and organise contacts, is now free and available on the play store

This is an excellent tool to send personalized messages through WhatsApp.

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Business Conference

BBNG Parivartan 2023

BBNG Parivartan 2023 is happening in Mumbai – Dombivli. In February 2023. This Parivartan 2023 Grand in all sense.

Theme of Parivartan is aiming Parivartan of “Vichar Vyavahar & Vikas”
Website:  www.parivartan23.in
Register for the Conference ASAP.
Also forward it to all your Brahmin Connects and Brahmin Groups.
Also please check the website for Guests and Itinerary for the conference, fixed till Date .

Thanks and Regards,

Team Parivartan 2023

News from eGrowth

Welcome to Mr Gurunandan Singh, New Edge Communications

Mr. Gurnandan Singh, is the Founder Director of Head and Heart, an organization of international repute which is making waves in the field of Meta learning and Neuroscience. Mr. Singh comes with a corporate experience of nearly 25 years in the field of Telecommunications. After a stupendous innings with stalwart companies like Reliance, Airtel, Idea Cellular, etc and numerous awards for par excellence performance under his belt, Mr. Singh forayed into the field of Education where again he made a niche for himself.

His work and its impact on Child welfare was awarded in 2017 by the then President, Mr. Ram Nath Kovind.

His present company, Head and Heart conducts various training and workshops for fostering the innate brain potential of a human being by improving their memory, focus and concentration, thereby enhancing the overall performance of the individual. The other benefits which ensue are in terms of emotional stability, ability to deal with stress, unleashing of creativity and much more. Their scientifically structured processes have not only helped students and teachers but also corporate professionals, lawyers, artists, military person and many more. Their training has even brought tangible and discernible benefits to all participants. A celebrity in his own right, Gurnandan Singh had been selected amongst more than 62000 companies to be shown on Shark Tank India Season 1 on Sony LIV TV.

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eGrowth Support Structure

How we enable your business

Our goal is to impact 4 million entrepreneurs by 2025. We exist to help you get more leads, opportunities and expand your business across geographies.

Our team of inhouse resources and partners does the following for you-

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Meet Our Team

Why eGrowth

ACT to Get

Accelerate - Convert - Trust

eGrowth is a crowd funded, trusted platform to grow your business. You get new customers, reliable vendors, new business opportunities and focused outreach. Here is a partial list of benefits you may get as we associate –

  • Lead generation
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  • Get reliable vendors and partners
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