UP to hold mega roadshow in city today
This is the third major event ahead of the UP International Trade Show 2025 in Greater Noida and is being organised in partnership with the Karnataka Small Scale Industries Association.
The event will be spearheaded by Rakesh Sachan, Minister for MSME, Khadi and Village Industries, Handloom, and Textiles in Uttar Pradesh. During the event, key members of 'Team Yogi' will showcase transformational developments in the fields of infrastructure, policy support, and ease of doing business in the state.
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Time of India
7 hours ago
- Time of India
Turning trash into energy
S tanding beside mountains of metal scrap, Guru Punghavan believes India's energy security needs participation and research in battery technologies by companies of all sizes. He founded Boson Cell, which manufactures lithium-ion battery cells, using a portion of recycled materials. His father has helmed an aluminum die-casting MSME serving the automobiles and telecommunications sector for 25 years. When Guru took up management, he opted for forward-integration by making aluminium alloys. That's when he noticed the large volume of electronic waste being collected even by a metal recycling company. "This was a niche market which many people did not focus on. So we ventured into refining critical materials from electronic waste," he says. Starting with battery recycling, Boson is focused on building lithium-ion cells for drones, EVs and energy storage applications (ESS). It grinds, separates and purifies critical minerals such as lithium, cobalt, nickel and graphite and converts them into battery grade chemicals. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why This $30 Non-Invasive Glucose Monitor Is Flying Off the Shelves ZAKDAVI Undo Having studied mechatronics and conducted projects in electrochemistry in college helped. "We started these research projects in 2019 to develop refining technologies. Initially, we sold cathode and anode materials, then we focussed on battery cells, as each cell maker has unique needs, and there were limited opportunities," he said. The tech is well understood, but it is hard to execute and is also capital intensive, he adds. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai The startup has developed proprietary technology for refining and processing these materials, which make up around 35% weight of the battery cell. The trading of these materials drew intense scrutiny in the aftermath of recent geopolitical shifts, including China's export controls on battery and refining technologies that took effect in January. Currently India imports more than 80% of its cells and it predominantly comes from China. Boson Cell has built a facility for recovering critical minerals through a process known as black mass generation at Sriperumbudur, with an initial capacity of 0.8 gigawatt hours. "Currently, this serves up to 30% of our inputs, enabling us to focus on the primary business of building cells, but we plan to expand this capacity in the future," Guru Punghavan says. He also worked with South Korean companies to establish manufacturing lines, SoPs and clean rooms for cell manufacturing. Boson Cell has developed two cells for drones with nickel manganese cobalt (NMC) chemistry and is in the process of building four more cells and exploring different cell chemistries, including lithium iron phosphate (LFP). "There are discussions around curbs on rare earth material exports from China. While it does not affect us now, it has highlighted the risks in the battery supply chain. Recycling of e-waste and refining capabilities for lithium, cobalt and nickel are in nascent stage in India and it affects our cell production," he says. The company has raised $1.5 million from friends and family and plans to raise more capital for expanding its production capacity, specifically targeting EV cells. The startup has partnered with drone OEMs and is in talks with electric two and three wheeler OEMs for pilot projects. It is also expecting financial support from the Centre under the Fame II programme. Guru Punghavan believes the govt's targeted support for smaller battery cell manufactures could boost the ecosystem. The startup aims to build a one lakh cell a day production line by the next fiscal and it hopes to source 100% of its materials for the cells from inhouse recycling. The startup is betting on providing faster turnaround times and lower minimum order quantities to gain market share. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
Mint
11 hours ago
- Mint
Has scheme to help MSMEs gain global exposure worked? Time for a review
New Delhi: As global geoeconomic uncertainty and tariff wars disrupt supply chains, the government has started reviewing the scheme that offers incentives to small businesses to develop international business relations. The ministry of micro, small & medium enterprises (MSMEs) has begun reviewing its 2019 International Co-operation Scheme, according to two people aware of the development. The scheme provides financial aid to industry associations, and state and central government organisations that promote the MSME sector. The review will cover the participation of MSMEs in the scheme to examine whether the implementation has had a positive impact on the sector, especially on first-time exporters, the people mentioned above said. The assessment is in its initial stages, one of the people said. The scheme reimburses airfares, rent for showcase spaces, and visits to international conferences by representatives of the MSME sector. It also refunds costs to conduct international seminars and conferences. It also provides benefits for capacity building to first-time exporters. A query emailed to the MSME ministry on 31 July remained unanswered. In FY24, the government assisted 545 MSMEs under the scheme with a support of ₹ 19.22 crore, according to a Lok Sabha disclosure in March 2025. India's MSMEs contribute to about 45% of the country's exports. MSMEs must register to receive benefits under the scheme. For instance, a company must be registered under the Companies Act, and a society needs to be registered under the Societies Act. But once registered, they must fulfil regulatory compliance requirements and may not have adequate financial resources for that, according to reports by multiple lenders. Mint reported in March that government officials scrutinise MSMES more closely when securing registration under the goods and services tax (GST) regime. Under the International Co-operation Scheme, MSME industry associations can participate in three events in a year, and in the same event for three years at a stretch. After three consecutive years of participation, MSMEs or their industry associations can participate in an event after a gap of two years. First-time exporters can get financial assistance for securing registration-cum-membership certificates in export promotion councils and paying fees for quality certification of exports. MSMEs have been facing export-related concerns. 'The sector needs to be provided with better market access facilities to sustain and further enhance its contribution towards output, employment generation and exports. However, currently lot of MSMEs do not have a clear strategy for effective sales promotion because they lack the resources and knowledge for it,' said the 2019 expert committee report on MSMEs led by UK Sinha. Small Industries Development Bank of India (SIBDI) said in its recent outlook that trading MSMEs may have apprehensions about the constantly changing global tariff regime impacting their margins. 'About 40% of exporters were affected directly or indirectly by ongoing tariff issues,' the small business lender said in its MSME Survey Outlook for April-June 2025. Both the manufacturing and services sector MSMEs have been impacted by tariff-related global trade headwinds, the report said.
Time of India
20 hours ago
- Time of India
Muted Q1 earnings point to weakening micro: Is the easy money phase over?
We are now exactly at the halfway mark of the earnings season. Among BSE 500 companies, nearly 50% have declared their results for the June quarter. So far, the earnings trend has been underwhelming — far from anything to write home about. Of course, no one expected blockbuster results this quarter. Even on that muted backdrop, the reported numbers have largely disappointed. Given the election-related disruptions in the base quarter last year, many had expected a natural tailwind from the low base effect to support growth this quarter. Explore courses from Top Institutes in Please select course: Select a Course Category healthcare Public Policy Management Data Science Leadership Digital Marketing Product Management CXO others Degree Design Thinking Operations Management Others Technology MBA Cybersecurity MCA Project Management Finance PGDM Healthcare Data Analytics Data Science Artificial Intelligence Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo Instead, we're seeing several companies struggle to post even modest growth. This implies that the current softness may not be a one-off. If it's not just a passing blip, are we staring at a deeper growth challenge for the economy in the medium term? To better understand the underlying trends, it's useful to look at key takeaways from the management commentaries of some prominent companies that have reported earnings so far. Let's start with banking The surprise here isn't muted credit growth — that has been subdued for a few quarters now. There was no respite from that trend this quarter either, despite a recovery in overall sentiment. In fact, credit growth has fallen further over the past three months. Live Events From hovering around mid-teen levels in Q4 FY24, credit growth has sharply declined to single digits in this quarter, after staying in the low teens for the past three quarters. However, the bigger negative surprise came from commentary around the unsecured segment — particularly from the management of leading NBFCs and banks. Managements have raised red flags over the unsecured loan book in MSME and business loan segments. They are pointing to over-leveraged customers (loans from multiple banks), which could hit credit quality and severely impact growth in the coming months. This signals growing stress in the MSME segment, which could significantly constrain growth if the pressure continues. Deteriorating asset quality and rising slippages in MSME retail loans across banks support this concern. Combined with continued stress in the microfinance segment and a general credit slowdown, the prospects of a sharp economic rebound look dim. For banks, pressure on Net Interest Margins (NIMs) couldn't have come at a worse time. With successive rate cuts, lending rates have declined, while deposit rates lag behind — squeezing NIMs in the short term. This pressure is emerging just when growth is scarce and credit costs are rising (due to higher provisions), severely impacting profitability for many banks. Not to forget, banking stocks were the consensus buy at the beginning of the quarter — seen as undervalued plays amid the market's sharp recovery from March lows. Unfortunately, earnings told a different story. The wait for a much-anticipated rerating in banking stocks only gets longer. Circling back to asset quality in retail, further evidence of stress is visible in the credit card segment. While the slowdown in new credit card additions is well known, growing delinquencies have not received as much attention. Based on the Portfolio at Risk (PAR) metric, long-term delinquencies (PAR over 90 days) have surged to 15%, indicating rising repayment pressure among overdue accounts. Turning to IT — another sector with equally disappointing earnings. Bellwether companies reported sequential declines in both revenue and profitability. With muted guidance from major players, we are looking at another year of low single-digit dollar revenue growth. But that's only part of the story. While revenues may inch up, the real pain lies in job losses triggered by productivity gains from the AI push. If TCS's recent 2% layoff announcement is followed by others in the industry, the second-order effects on broader economic activity could be ominous. Coming at a time when MSMEs are already under stress — as echoed in banks' commentary — the medium-term growth outlook is looking increasingly fragile. That said, the economy does have some bright spots. There are no complaints about the agriculture sector's growth prospects, given the robust monsoon outlook this year. While this alone cannot offset the potential slowdown in consumption, it can offer some relief — especially if backed by sustained government capital expenditure (capex), which remains critical given the weakness in private capex. Government capex had been a strong driver until FY24, but last year exposed its limitations. Capacity constraints in traditional infrastructure segments like roads, railways, and general infra have started to impact execution. In response, the government is exploring new areas — such as urban water infrastructure (including wastewater treatment) and shipbuilding — to accelerate capex. If successful, these efforts could significantly improve the economic outlook. For investors, these are not easy times to navigate While benign macro conditions are helping prevent sharp market corrections, weakening micro fundamentals may keep markets in check and delay the breakout many are hoping for. In such an environment, investors must adopt a stock-specific approach — seeking bottom-up opportunities. The era of easy money appears to be behind us. Going forward, spotting the next winners will depend more on skill than luck. (The author, ArunaGiri N is the Founder CEO & Fund Manager at TrustLine Holdings)
