Latest news with #MSMEs
Time of India
13 hours ago
- Business
- Time of India
Power ministry bets Rs 1,000cr on energy-smart MSMEs
New Delhi: The power ministry on Tuesday launched a ₹1,000-crore scheme to support micro, small and medium enterprises (MSMEs) in adopting energy-efficient technologies. Under the Assistance in Deploying Energy Efficient Technologies in Industries & Establishments (ADEETIE) scheme, the government will provide an interest subvention of 5% for micro and small enterprises, and 3% for medium enterprises on loans. The scheme is also designed to offer end-to-end handholding through investment-grade energy audits, detailed project reports, and post-implementation monitoring and verification. Ads By Google Ad will close in 29 Skip ad in 4 Skip Ad It covers 14 energy-intensive sectors, including brass, bricks, ceramics, chemicals, fishery, food processing, forging, foundry, glass, leather, paper, pharma, steel re-rolling, and textiles. ADEETIE will be rolled out in phases, beginning with 60 industrial clusters in the first phase, followed by another 100 in the second phase. "With the right mix of incentives and support mechanisms, we are catalysing investments in cleaner, more efficient technologies," said power minister Manohar Lal. The scheme will be implemented over three years, starting in FY26, the ministry said in a statement. ET had earlier reported on the scheme being conceived by the ministry through the Bureau of Energy Efficiency (BEE). Of the total outlay, ₹875 crore is allocated for interest subvention, ₹50 crore for investment-grade energy audit support, and the remainder for handholding support through BEE. The scheme is expected to catalyse ₹9,000 crore in investments, including ₹6,750 crore in MSME lending.
Finextra
15 hours ago
- Business
- Finextra
Faysal Bank and Smart1-Tech team on digital payments in Pakistan
Faysal Bank Limited (FBL), one of Pakistan's leading Islamic banks, has partnered with Smart1-Tech (Pvt.) Ltd., a fast-growing Fintech company focused on digital payments and acceptance solutions. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. This partnership aims to expand secure, cashless payment options for Micro, Small, and Medium Enterprises (MSMEs). This collaboration underscores FBL's commitment to financial inclusion through Fintech partnerships, especially for MSMEs where digital finance continues to play a vital role in Pakistan's economic growth. The signing ceremony held at Faysal Bank's Head Office, was attended by senior leaders from both organizations. Amin ur Rahman, Chief Digital Officer, Faysal Bank, stated; 'Our partnership with Smart1-Tech is another step towards expanding the payments ecosystem in Pakistan. At Faysal Bank, we believe in growth through collaboration and this partnership compliments our growth strategy in the digital ecosystem.' Mr. Ali Ahmed, CEO, Smart1-Tech, emphasized the importance of collaboration in transforming the financial landscape: 'We are privileged to formalise our partnership with Faysal Bank. This agreement is a significant step towards enhancing Pakistan's digital acceptance services, and we are confident that this collaboration will drive the much-needed progress by acting as growth enablers.' Another key area of focus through this partnership will be the proliferation of Raast P2M QR-based payment solutions for small retailers. supporting the shift towards a more connected and cashless economy.
India.com
17 hours ago
- Business
- India.com
Centre Unveils Rs 1,000 Cr Scheme To Help MSMEs Upgrade To Energy-Efficient Tech
New Delhi: The Centre on Tuesday launched a new Rs 1,000 crore scheme to enable micro, small and medium enterprises (MSMEs) upgrade to energy-efficient technologies through comprehensive financial and technical support. The Assistance in Deploying Energy Efficient Technologies in Industries and Establishments (ADEETIE) was officially launched by Power Minister Manohar Lal in Panipat, Haryana, according to a ministry statement. 'ADEETIE is a transformative movement to empower Indian industries, especially MSMEs, to become globally competitive through sustainability. With the right mix of incentives and support mechanisms, we are catalysing investments in cleaner, more efficient technologies,' said the minister. The ADEETIE scheme is being implemented by the Bureau of Energy Efficiency (BEE). The scheme covers 14 energy-intensive sectors. It will follow a phased roll-out, beginning with 60 industrial clusters in the first phase, followed by an additional 100 clusters in the second phase. The scheme will be implemented over three years, spanning FY 2025-26 to FY 2027-28, allowing for progressive deployment, course correction, and scaling based on early outcomes. The total outlay of Rs 1,000 crore comprises Rs 875 crore for interest subvention, Rs 50 crore for Investment Grade Energy Audit support and Rs 75 crore for handholding support through BEE. The scheme is expected to catalyse Rs 9,000 crore in investments, including Rs 6,750 crore of MSME lending. The scheme envisages to provide interest subvention of 5 per cent for micro and small enterprises, and 3 per cent for medium enterprises on loans, ensuring accessibility and affordability for MSMEs seeking financial aid for energy efficiency (EE) projects. In his address, Manohar Lal emphasised the importance of power in driving economic growth, aligned with the vision of Viksit Bharat, highlighting the role of renewables, energy efficiency, and environmental conservation, especially in the MSME sector. The minister noted various technologies featured in the ADEETIE scheme can help MSMEs reduce energy consumption by 30–50 per cent, improve the power-to-product ratio, and support the creation of green energy corridors. He also underscored the significance of industrial energy efficiency in reducing India's carbon footprint and achieving its international climate commitments. Pankaj Agarwal, Secretary, Ministry of Power, highlighted the pivotal role of BEE in scaling up energy efficiency projects and mainstreaming them across India's industrial ecosystem. He highlighted the scheme's focus on widespread adoption across 14 energy-intensive sectors and 60 identified clusters in the initial phase. Agarwal also stressed the need for a supportive policy and financing framework to empower MSMEs as key drivers of climate action.
Time of India
19 hours ago
- Business
- Time of India
Centre rolls out ₹1,000 crore ADEETIE scheme for MSMEs to adopt energy-efficient technologies
New Delhi: The Union Ministry of Power on Tuesday launched the ₹1,000 crore Assistance in Deploying Energy Efficient Technologies in Industries & Establishments (ADEETIE) scheme to support Micro, Small, and Medium Enterprises ( MSMEs ) in adopting cleaner and energy-efficient technologies . The scheme was officially launched by Union Minister of Power and Housing & Urban Affairs Manohar Lal at Arya (P.G.) College in Panipat, Haryana. The ADEETIE scheme , implemented by the Bureau of Energy Efficiency (BEE), aims to provide financial and technical assistance to MSMEs through interest subvention on loans, investment grade energy audits, preparation of detailed project reports (DPRs), and post-implementation monitoring and verification. Interest subvention and budgetary allocation The scheme offers interest subvention of 5% for Micro and Small Enterprises and 3% for Medium Enterprises seeking loans for energy efficiency projects. Of the total outlay, ₹875 crore is earmarked for interest subvention, ₹50 crore for energy audits, and ₹75 crore for implementation support. According to BEE, the scheme is expected to mobilise ₹9,000 crore in investments, including ₹6,750 crore in prospective lending by MSMEs. Portal launched to streamline financing At the launch event, the Minister also unveiled the scheme brochure and inaugurated the dedicated portal ( ) to streamline the financing process for eligible beneficiaries. 'ADEETIE is a transformative movement to empower Indian industries, especially MSMEs, to become globally competitive through sustainability. With the right mix of incentives and support mechanisms, we are catalyzing investments in cleaner, more efficient technologies,' said Union Minister Manohar Lal. He added that various technologies featured under the scheme could help reduce MSMEs' energy consumption by 30–50%, improve the power-to-product ratio, and contribute to the development of green energy corridors. Focus on 60 MSME clusters, 14 sectors Pankaj Agarwal, Secretary, Ministry of Power, said that BEE will play a central role in scaling up energy efficiency across 14 energy-intensive sectors and 60 identified MSME clusters in the first phase. He called for an enabling policy and financing environment to support MSMEs as contributors to India's climate goals. A.K. Singh, Additional Chief Secretary (Energy), Government of Haryana, urged MSMEs to join the initiative to move away from fossil fuels and adopt sustainable practices. Support for MSME-led clean transition Akash Tripathi, Additional Secretary and Director General, BEE, said, 'The scheme will offer both technical and financial handholding to MSMEs. As India focuses on export-oriented industries, energy efficiency must be central to that growth — both to enhance productivity and reduce emissions.' The event also included the distribution of appreciation certificates to MSME units that participated in the pilot phase, and signing of MoUs with industrial associations. Two MSME representatives also shared early success stories from their participation in energy audits and technology upgrades. The ADEETIE scheme is aimed at accelerating India's shift to a low-carbon economy by equipping MSMEs with the tools needed to reduce energy intensity and enhance competitiveness.
Time of India
20 hours ago
- Business
- Time of India
Upskilling Bharat: Unlocking the workforce potential of Tier 2 & 3 cities, ET Education
By Ambrish Sinha AI, cloud computing, and cybersecurity jobs have surged 20–38% YoY in Tier 2/3 cities, driven by GCC expansions and flexible hiring models Hiring in Tier 2 cities has outpaced Tier 1 metros: job openings up ~42% vs. 19%, with IT, BFSI, manufacturing, retail, and healthcare leading the charge Advt Develop 'City-as-a-Campus' models, industry-integrated learning hubs focused on sustained local talent pools Incentivize hiring from non-metros through employer skill credits and regional employment-linked tax benefits Advt Raising awareness on the importance and inevitability of skill development among local bodies, communities, institutions, and leaders Focused campaigns in vernacular text and context on the benefits of skilling and upskilling Establishing offline/physical skill hubs and incubation centers, where learners can learn and practice theoretically and practically Optimize public-private partnerships to bring in the required tech infrastructure and demand for skills in non-metros and train local talent for deployment Embed career discovery and counselling modules in high schools and polytechnics to raise aspiration and guide early choices Establish Digital Skilling Nodes co-owned by academia, employers, and local bodies to deliver stackable credentials and job pathways Use AI-based skill-to-role mapping engines to personalize learning journeys and directly link upskilling to hiring opportunities Establish regional Talent Intelligence Dashboards for data-driven workforce planning Enable 'Skill Equity' by design – via interoperable credentials, multilingual content, and job-linked upskilling for underserved cohorts Foster inclusive industry ecosystems where GCCs, MSMEs, EdTechs, and government co-create future-ready talent 'The future belongs to young people with an education and the imagination to create' -Barrack Obama India stands as a powerhouse of young, talented, and aspirational youth. As the former USA president said. This World Youth Skills Day , India celebrates the immense potential of India's youth and the crucial role skill development plays in shaping their future and, by extension, the nation's to stats from India Employer Forum While conventional focus has been predominantly on tier I cities when it comes to skill development, true potential lies untapped in India's tier II and III cities. Youth in these regions are knowledge-hungry, consistently creating opportunities, and are keen on solving region-native concerns through indigenous with the help of government initiatives and improving infrastructure, tier II and III cities are attracting several tech companies, GCCs and data centers as well. Regions like Vadodara, Bhubaneswar, Jaipur, Coimbatore, Mysore , Thrissur and more are burgeoning IT hubs with several startups and e-commerce ventures, embracing digital are at the perfect point in time to emphasize strategic skill development initiatives to nurture a robust pipeline of future-ready talent to complement the IT boom and boost balanced regional initiatives will not only reduce pressure on the already strained urban infrastructure but foster localized economic systems, leading to holistic interesting statistic from 2023 reveals that online learning increased by 32% in tier II and III cities. Besides, India is home to over 954mn internet subscribers, with rural users alone expecting to surpass 504mn by the end of democratized infrastructure such as reliable 5G rollout, access to affordable digital devices, and supportive education policies, barriers such as geography, language, schedules and more are no longer restricting learners. Aspirants even in the remotest parts of the country now get access to quality education and get a similar exposure their counterparts would get in tier-I has paved the way for learning without them needing to relocate or spend excessively. The digital learning revolution in India has made education a level playing field, ensuring that ambition and dreams are not compromised.A key actionable strategy to improve access and momentum include promoting mobile-first skilling platforms optimized for low-bandwidth regions with voice-based interfaces. Additionally, launching industry-curated nano-certifications (3–6 weeks) aligned to high-demand roles in IT support, MedTech servicing, FinTech operations, and Industry 4.0 roles helps bridge the skills gap by offering targeted, job-ready training that meets current industry requirements.A stark reality that we must collectively acknowledge is the persisting skill gaps in India. Over the last few years, we have observed that it is a perpetual struggle and effort to keep up with evolving tech demands. And upskilling is an inevitable part of the statistics from the Economic Survey 2023-24 reveal that only 51% of the graduates are employable. Meaning, while they possess a degree certificate, they lack the essential skills to thrive and shine in their chosen foster an inclusive ecosystem, where graduates from across the nation cultivate necessary skills, a multi-pronged, collaborative approach is required such as:While vernacular content and AI-driven learning are highly recommended, the goal is to transform tier II and III youths into skilled professionals; to make them not only employable but kindle entrepreneurial spirit in achieve this, promotion of blended learning models is suggested. Experiential learning modules that emphasize doing over learning are what will make the youth pick up actionable skills over from this, universities and IT hubs that are established in non-metros should also collaborate to reinvent curriculum and content to nurture futuristic skills that will make them employable and put learners on a global pedestal. A lot of such partnerships between premier institutes and GCCs already exist in are first-hand witnesses to India's promising digital revolution and what we are looking at is the rise of a resilient India.
