logo
SUBCON 2025 offers new business opportunities for MSMEs in Coimbatore

SUBCON 2025 offers new business opportunities for MSMEs in Coimbatore

The Hindu14-05-2025
SUBCON 2025, a a sub-contracting expo that connects MSMEs and large industries in Coimbatore, offers an opportunity for the Micro, Small and Medium-scale Enterprises (MSMEs) to know more about value-added products that they can supply for large industries, say the organisers of the event.
As many as 17 large industries and 230 MSMEs are taking part in SUBCON 2025, displaying their products in 250 stalls. Vanitha Mohan, chairperson of Pricol, inaugurated the ninth edition of the three-day expo, organised by the Coimbatore District Small Industries Association, here on Wednesday.
Over 10,000 visitors are expected to visit the fair that has exhibitors from Tamil Nadu, Karnataka, Kerala, Puducherry, and Telangana putting up stalls.
The exhibition this year has seen a rise of 8 % - 10% in participation.
J. Sanjeevi Kumar, chairman of SUBCON 2025, said the engineering sector in Coimbatore is currently facing a slowdown and the MSME unit owners have an opportunity to get more orders through the fair without travelling to other cities. At least 60 % of the MSMEs in Coimbatore are indirect suppliers to large industries. They have an opportunity and scope to become direct suppliers and get into value added products.
'If the MSME unit has a quality product, it can become a direct supplier to a large unit without any hassle,' he said.
The number of visitors is expected to go up on Saturday and Sunday.
The event is supported by the Ministry of MSME, PPDC, NSIC, FaMeTN, COSISSIA Defence Innovation and Atal Incubation Centre (CDIIC), NITI Aayog and Atal Innovation Mission (AIM).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Growth to get lift, boost for demand after GST rationalisation, say economists
Growth to get lift, boost for demand after GST rationalisation, say economists

Economic Times

time9 hours ago

  • Economic Times

Growth to get lift, boost for demand after GST rationalisation, say economists

Synopsis Economists predict that the Goods and Services Tax (GST) rationalization will significantly boost domestic demand, providing crucial support to the Indian economy amidst challenges posed by US tariffs. The simplified tax structure, particularly benefiting essentials, is expected to increase disposable income for lower and middle-income consumers. ANI GST reform push has drawn favourable comments from economists. Domestic demand will get a boost after goods and services tax (GST) rationalisation, economists said, providing support to the economy that's seen likely taking a hit from the 50% duty levied on Indian imports by the US.'At a time where consumption demand has been uneven and felt pressure from high inflation and low nominal wage growth over the last couple of quarters, the proposed GST reforms are a positive, especially for essentials, aiding consumption by the lower and middle income class,' said Sakshi Gupta, principal economist at HDFC Bank. QuantEco Research economist Yuvika Singhal said, 'Any kind of reduction in taxes is positive for consumption as it leaves higher disposable income in the hands of consumers.' Prime Minister Narendra Modi had said in his Independence Day speech on Friday that GST reforms would provide relief to micro, small, and medium enterprises (MSMEs), local vendors and GST cuts on items will range from durables such as refrigerators and air conditioners to packaged foods and medical supplies. 'It's a much-needed development, and GST rationalisation is the need of the hour, apart from other reforms,' said Paras Jasrai, associate director at India Ratings and Research (Ind-Ra). The Centre has proposed that India move to a simpler, two-slab structure from four currently--retaining the 5% and 18% rates and scrapping the 12% and 28% levies, ET reported earlier. 'With indirect taxes having a wider reach, GST reforms can deliver a stronger boost,' said Gaura Sengupta, chief economist at IDFC First Bank. 'Rural consumption is improving but not broad-based enough to offset weak urban demand, so a fiscal push was needed—and these reforms provide that.'Jasrai said that lower stabs and tax rates will give consumption demand a significant boost, especially amid the uncertainty over trade tariffs that are seen impacting external President Donald Trump has imposed a 50% tariff on India, including a 25% penalty for importing Russian oil. The International Monetary Fund (IMF) and World Bank have cut global growth forecasts amid the prevailing trade uncertainty. Even so, India's domestic strength will stand out.'Since domestic consumption makes up a larger share of the economy, India will remain resilient despite global headwinds,' said Singhal. An increase in spending activity will also lift gross domestic product (GDP). The boost to nominal GDP growth is estimated at 0.6 percentage point over 12 months using fiscal multipliers, said Bank's Gupta said the reform could boost demand for consumer durables if GST rates on items such as ACs and TVs are reduced. 'A more notable impact could also be seen for demand for two-wheelers and cars if the current GST rate of 28% is reduced to 18%,' she highlighted that fast-moving consumer goods (FMCG) companies will see a positive impact, depending on how and when the changes are implemented.

ET MSME Awards 2025: How CMAI became the backbone of India's garment revolution
ET MSME Awards 2025: How CMAI became the backbone of India's garment revolution

Economic Times

time17 hours ago

  • Economic Times

ET MSME Awards 2025: How CMAI became the backbone of India's garment revolution

ET Online Royalty-free image of printed fabric. | Photo by maadhuri g on Pexels Each week, the ET MSME Awards will feature an industry association that has played a critical role in India's growth story. This week, we celebrate CMAI. If you own or manage a clothing and apparel enterprise, nominate your business for the ET MSME Awards 2025 before August 31, 2025. Off the bustling bylanes of Prabhadevi, in what was once Mumbai's mill hub, the hum of sewing machines never quite dies down. Here stands an organisation that has quietly shaped India's apparel destiny since 1963: the Clothing Manufacturers Association of India (CMAI). The CMAI may not grab headlines in the micro, small, and medium enterprise (MSME) space the way electronics or healthcare suppliers do, but its influence runs through every thread of India's $176 billion textile industry. From its humble beginnings to becoming the voice of over 20,000 companies, from micro units to international juggernauts such as Levi's, its story is essentially the story of how India's textile sector evolved from post-independence protectionism to global competitiveness. The architect of export success CMAI's most transformative contribution came in 1978, when the organisation took the lead in the creation of the Apparel Export Promotion Council (AEPC). At a time when India's garment exports were nascent and fragmented, this initiative laid the foundation for what would become a multi-billion dollar export engine. The timing couldn't have been more crucial. The late 1970s marked India's gradual opening to global trade, and the garment sector needed institutional support to navigate international markets. Born from CMAI's vision, AEPC became the regulatory body that would eventually oversee the promotion of India's garment exports. Today, when Indian apparel flies off international retail shelves from New York to Tokyo, that success traces back to CMAI's institutional foresight nearly half a century ago. When an Indian garment shipment reaches international ports with CMAI's certification, it carries the credibility of an institution that has vetted industry players for decades. For small exporters, such institutional backing can be the difference between smooth customs clearance and costly delays. Are you a top exporter? Nominate yourself for the ET MSME Awards 2025 The MSME champion CMAI's real genius lies in understanding that India's clothing and apparel industry would be built not by industrial behemoths, but by thousands of small manufacturers scattered across the country. Long before 'MSME' became a policy buzzword, CMAI recognised that the sector's strength lay in its distributed network of small entrepreneurs. This insight shaped everything from CMAI's advocacy positions to service offerings. When it established a network of affiliate testing associations and facilities, it wasn't just about meeting international quality standards, but about making those standards accessible to small enterprises who couldn't afford their own facilities. For a manufacturer in Odisha, Tamil Nadu, or Punjab, this means the difference between accessing global markets and remaining trapped in domestic price wars. CMAI's approach to supporting MSMEs goes beyond advocacy — it creates markets. The association's trade fairs have become crucial business platforms where small manufacturers meet retailers, forge partnerships, and showcase innovations. The North India Garment Fair (NIGF), scheduled for November 25-27 this year, exemplifies this philosophy. More than 95% of exhibitors are MSMEs from across India, including Mumbai, the National Capital Region, Bengaluru, Punjab, Rajasthan, Gujarat, and Madhya Pradesh. Retailers, wholesalers, agents, e-commerce representatives, distributors, and international buyers alike throng the NIGF, making it an economic lifeline for clothing and apparel enterprises. Interfacing with government and society CMAI also doubles as an interface between government policy and ground-level business reality. When policymakers design schemes for the textile sector, they often rely on CMAI's insights to understand how regulations on market access, credit, and ease of doing business will play out in practice. The association also plays a proactive role in voluntary commitments to sustainability. In 2019, it partnered with India's Ministry of Textiles, UN in India, and Reliance Brands Limited to launch (short for Sustainable Resolution), an initiative that creates a pathway to move towards more sustainable fashion. signatory brands include the likes of Shoppers Stop, Lifestyle, Biba, AND, the Aditya Birla Group, and Being Human. Lastly, through apparel training centres in multiple states, CMAI has trained over 43,000 people and placed nearly 33,500 trainees under the Ministry of Textiles' Integrated Skill Development Scheme. The digital transition Like many traditional industries, garment manufacturing has had to navigate the digital transformation. CMAI has positioned itself as a bridge between old-economy manufacturers and new-economy opportunities. Its embrace of e-commerce platforms and digital marketing reflects this evolution. By helping traditional manufacturers understand online retail dynamics, CMAI has enabled countless small businesses to expand their reach beyond physical trade fairs and regional markets. This digital push became particularly crucial during the Covid-19 pandemic, when traditional business models faced unprecedented disruption. Companies that had embraced digital platforms through CMAI's guidance found themselves better positioned to weather the crisis. To sum up As India aims to become a $5 trillion economy by 2027, the garment sector's role becomes even more critical. With textiles and apparel going through rapid evolution, from fast fashion to sustainable clothing and from offline to omnichannel, CMAI's challenge is to help members navigate these transitions. The association's recent focus on sustainability and technological upgradation suggests it understands these challenges. But its real test will be helping traditional manufacturers adapt to changing consumer preferences while maintaining the cost competitiveness that has been their historic strength. CMAI's five-decade journey offers a masterclass in industry institution-building. It didn't just represent existing interests, but helped create the very ecosystem that allowed those interests to flourish. From a handful of Mumbai-based manufacturers to a pan-Indian network of 20,000 companies, CMAI's evolution mirrors the transformation of Indian manufacturing itself. In boardrooms where billion dollar deals are discussed, CMAI's influence might seem modest. But in the workshops and factories where India's garment story is stitched together, its role as facilitator, advocate, and enabler continues to define possibilities for countless entrepreneurs. That's the quiet power of institutional leadership: not the dramatic disruption that makes headlines, but the patient building of systems that allow entire sectors to thrive. The ET MSME Awards 2025 , which has IDBI Bank as banking and lending partner, is open for nominations. Put yourself up for consideration before August 31, 2025.

Want GST 2.0 to be Good and Simple Tax not Growth Suppressing Tax: Cong
Want GST 2.0 to be Good and Simple Tax not Growth Suppressing Tax: Cong

Economic Times

time20 hours ago

  • Economic Times

Want GST 2.0 to be Good and Simple Tax not Growth Suppressing Tax: Cong

The Congress Saturday demanded an official discussion paper on GST 2.0 soon for a wider debate on it and said the reform should be towards a "Good and Simple Tax" in letter, spirit, and compliance, and not the "Growth Suppressing Tax" it has opposition party's assertion came a day after Prime Minister Narendra Modi announced that GST rates will be lowered by Diwali, bringing down prices of everyday use items, as his government looks to reform the eight-year-old regime that has been plagued by litigation and evasion. Congress general secretary in-charge of communications, Jairam Ramesh, said that for well over a year and a half at least, the party has been calling for a radically transformed GST that a transformed GST 2.0 was a key pledge in the Congress manifesto for the 2024 Lok Sabha elections, Ramesh on Friday said the prime minister seems to have finally woken up to the fact that economic growth will simply not accelerate unless this transformation takes place and increases private consumption and private investment."Over the last seven years, the spirit of GST has been vitiated by an increased number of rates and the granting of multiple exemptions. The structure also seems to have facilitated evasion. There must be a drastic reduction in the number of rates," he said in a statement. The Congress leader said simplification of the rate structure is essential, but must be done in a manner that minimises revenue uncertainty to states and also eliminates the classification disputes that have become so common."The GST compensation cess expires on March 31, 2026. This must be extended to offset any revenue uncertainty from the rationalisation of the rate structure." Ramesh said the widespread concerns of MSMEs -- the major employment generators in the economy -- must be addressed meaningfully, he said, adding that apart from major procedural changes in GST, this will involve further increasing the thresholds that must apply to interstate supplies as issues that have surfaced, for instance, in textiles, tourism, exporters, handicrafts and agricultural inputs, must be tackled, he addition, states should be incentivised to move towards the introduction of state-level GST to cover electricity, alcohol, petroleum, and real estate as well, the Congress leader opined."The Indian National Congress demands an official discussion paper on GST 2.0 very soon so that there can be an informed and wider debate on this vital and pressing national issue."GST 2.0 should be truly a Good and Simple Tax (GST) in letter, spirit, and compliance, not like the Growth Suppressing Tax (GST) it has become," Ramesh after the prime minister's announcement from the ramparts of the Red Fort on the 79th Independence Day, the Union Finance Ministry said it has proposed that most goods and services be taxed in two slabs -- standard and merit -- and a select few items be charged special is to replace the current goods and services tax (GST) structure, where sale of goods and rendering of services are taxed in four different brackets -- 5 per cent, 12 per cent, 18 per cent and 28 per cent -- with luxury and sin goods attracting a levy on top of the highest rate of 28 per cent."This Diwali, I am going to make it a double Diwali for you," Modi had said in his address to the nation. Stating that over the past eight years, his government has undertaken major GST reforms, the prime minister said, "We have discussed with states and we are bringing next-generation GST reforms that will reduce the tax burden across the country." "Tax on items for the common man will be reduced substantially. Our MSMEs will benefit hugely. Daily use items will become cheaper, which will also strengthen our economy," he had said. GST, which subsumed a host of taxes and local levies, was rolled out on July 1, 2017.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store