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New Indian Express
5 days ago
- General
- New Indian Express
Stop harassing Dakshina Kannada Hindu activists, urges Union MoS Shobha
BENGALURU: Union Minister of State for Labour and Employment, Micro, Small, and Medium Enterprises Shobha Karandlaje has urged Justice NK Sudhindra Rao, chairman, Police Complaints Authority, to initiate immediate action to prevent police harassment of members associated with Hindu organisations in Dakshina Kannada. In a letter to Justice Rao, Karandlaje expressed concern over the developments in Dakshina Kannada, where it has been reported that the police under the alleged pressure from the ruling Congress have been systematically targeting and harassing individuals associated with Hindu organisations. Even social workers, traders and ordinary citizens are not spared, she alleged.
Irish Post
28-05-2025
- Business
- Irish Post
Digital commerce body urges government to provide greater support to help Irish SMEs adopt new AI tech
A NATIONAL representative body for the e-commerce, digital and tech sectors in Ireland has called on the government to provide greater support for Irish Small and Medium Enterprises (SMEs) to adopt new AI technology. Digital Business Ireland (DBI) has proposed an allowance that would cover the first year of a business' costs for deploying AI tech. The organisation has also called for the current digital grant scheme for SMEs to be overhauled after claiming less than €30,000 has been allocated from a budget of more €5m since last September. "Digital Business Ireland believes the government can do much more to help Irish businesses accelerate their digital transition and adoption of AI," said DBI national spokesperson DP Fitzgerald. "However, existing supports simply do not go far enough." Invest in tech and training The proposals, aimed at accelerating the digital transition and the adoption of AI in Ireland, form part of DBI's pre-Budget submission for 2026. The organisation has recommended an Accelerated Capital Allowance (ACA) for AI technologies that would cover 100 per cent of a business' AI costs in the first year of deployment of such systems. It suggests the scheme could mirror the existing ACA for green technology and would incentivise Irish businesses to adopt new AI tech to drive greater efficiencies. DBI also believes that the current digital grant scheme for SMEs is insufficient, with the GrowDigital Voucher only offering grant support up to €5,000. It says that in a recent Parliamentary Question, the Department of Enterprise confirmed that the voucher had only 13 applications and six approvals since its launch in September 2024. This amounted to €28,296.50 being given out from a budget of more than €5m allocated at the inception of the scheme. Meanwhile, DBI has called for Increased investment in skills and training courses to further support AI development. It has proposed a minimum of 500 places be designated specifically for AI training courses such as Springboard+, which only had 55 places on offer for AI courses last year. The fourth and final proposal in DBI's submission is the allocation of funding for enhanced advisory and support services for businesses to ensure compliance with digital regulation. Proposals will increase productivity "Our pre-budget submission proposes tangible and constructive measures to support government's ambition to realise the full benefits of digitalisation, including AI," added Mr Fitzgerald. "This in turn will increase the productivity of Irish businesses, and ensure their strategic focus is where it needs to be. "Our proposals are aimed at turbo-charging digital transition and adoption of AI among SMEs — businesses that are the backbone of the Irish economy." Two weeks ago, Deloitte Ireland also proposed a tax credit for businesses investing in AI and digitalisation in its pre-budget submission. The firm said it would apply to expenditure related to the reliably safe development, implementation and use of AI and digitalisation. See More: Digital Business Ireland
Indian Express
26-05-2025
- Business
- Indian Express
NITI Aayog proposes concessional loan scheme for medium-sized firms
A new report by NITI Aayog has proposed a concessional loan scheme for India's medium-sized enterprises, arguing that these firms face higher capital costs than both large and small companies. The report titled 'Designing a Policy for Medium Enterprises' released Monday also called for streamlining research and development (R&D) efforts and expanding cluster-based quality testing to help medium firms scale and become more export-competitive. The latest push to support medium-sized firms with cheaper credit comes after the definition of 'medium' was broadened in the Union Budget 2025. Until April 1, medium enterprises were defined as those with a turnover between Rs 50–250 crore and investment of Rs 10–50 crore in plant and machinery. The revised thresholds—Rs 100–500 crore in turnover and Rs 25–125 crore in investment—have expanded the category to cover more firms. 'Medium Enterprises receive much lesser priority sector loans, compared to micro enterprises. Additionally, the interest rates for Medium Enterprises are on average 4% higher than for larger firms, making capital more expensive,' the report said. It proposed a dedicated financing scheme under the Ministry of Micro, Small, and Medium Enterprises (MSME) to allow medium firms to avail loans at concessional rates, capped at Rs 25 crore, with a maximum of Rs 5 crore per request. The report also suggested launching a medium enterprise credit card with a pre-approved limit of up to Rs 5 crore at interest rates aligned with market rates. From over 6 crore registered MSMEs in India, medium enterprises are only 0.3 per cent, the report said. However, average employment per entity is significantly higher amongst medium firms at 89 people, compared to 19 for small and 6 for micro. Medium firms also account for 81 per cent of all MSME investment in R&D. To boost R&D, the report recommended reserving 25-30 per cent of the Self-Reliant India (SRI) Fund for exclusively financing projects by medium firms. The SRI Fund has an allocated of Rs 10,000 crore from the Centre and Rs 40,000 crore from private equity. Since its launch in 2021, a total of Rs 4,885 crore has been invested in MSMEs. 'Adopt EU type funding mechanism in which the government after due process will identify a set of major R&D gaps and invite proposal from the Medium Enterprises to bridge those gaps,' it also said. On quality testing, the report noted key challenges faced by medium enterprises. 'Limited access to affordable, sector-specific testing facilities forces them to rely on distant or private testing centres, increasing operational costs, certification delays, and barriers to global market entry,' it said. It recommended extending the Micro & Small Enterprises Cluster Development Programme (MSE-CDP)—which, among other benefits, provides access to shared testing infrastructure—to medium enterprises as well. At the report launch, NITI Aayog's Vice Chairperson Suman Bery said focussing on skilling and medium enterprises together is crucial. 'On the labour market side, we need to make the transition from informal employment, which is typically associated with micro and small enterprises, to formal employment, associated with the medium enterprise sector. It is with formal employment that firms get an incentive to invest in the training of their workforce,' Berry said. The report by India's apex public policy think tank noted that the availability of skilled labour in India stands at 55 per cent, compared to 88 per cent in South Korea, 85 per cent in the United States, and 81 per cent in Japan. The report recommended real-time skill mapping via the MSME Sampark Portal, expanding skill development schemes like the Entrepreneurship and Skill Development Programme (ESDP), and introducing subsidized, customized training programmes aligned with technology trends. Aggam Walia is a Correspondent at The Indian Express, reporting on power, renewables, and mining. His work unpacks intricate ties between corporations, government, and policy, often relying on documents sourced via the RTI Act. Off the beat, he enjoys running through Delhi's parks and forests, walking to places, and cooking pasta. ... Read More
IOL News
16-05-2025
- Business
- IOL News
Unlocking Economic Growth: The Role of SMEs in China-Africa Trade Ties
A recent seminar by China's Ministry of Commerce is set to reshape economic cooperation between China and Africa, focusing on the crucial role of Small and Medium Enterprises in driving growth and innovation across the continent Image: Supplied In a landmark initiative to enhance economic cooperation, China's Ministry of Commerce (MOFCOM) recently convened a high-profile seminar on Small and Medium Enterprises (SMEs) in African countries. This significant event, held at the Hunan International Business Vocational College, brought together representatives from eight African nations—South Africa, Ghana, Egypt, Morocco, Gambia, Lesotho, Uganda, and Mozambique. The seminar not only served as a platform for sharing knowledge and experiences but also underscored China's unwavering commitment to fostering robust relations with African nations, highlighting the immense potential for mutual benefits through strategic collaboration. The Crucial Role of SMEs in Africa's Economic Landscape Small and Medium Enterprises are the lifeblood of many economies, particularly in Africa, where they account for approximately 90% of all businesses and contribute to over 50% of employment. According to the African Development Bank, SMEs drive economic growth, job creation, and innovation across the continent. In a region grappling with high youth unemployment rates, the significance of SMEs cannot be overstated. They provide essential employment opportunities and serve as incubators for innovation and entrepreneurship. Moreover, SMEs are vital in diversifying economies, reducing dependency on traditional sectors, and fostering resilience against economic shocks. African nations can harness their unique resources and talents by empowering local entrepreneurs, creating a more sustainable and inclusive economic environment. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ The potential for SMEs to drive economic transformation is immense, and their growth is essential for achieving the United Nations Sustainable Development Goals (SDGs). China's Commitment to Supporting African SMEs China's engagement with Africa has evolved significantly over the past two decades, transitioning from focusing on resource extraction to a more comprehensive partnership that includes trade, investment, and capacity building. The recent seminar organised by MOFCOM is a testament to this shift, emphasising the importance of SMEs in fostering economic development and cooperation. During the seminar, participants engaged in discussions on best practices, shared success stories, and explored innovative solutions to common challenges faced by SMEs. The exchange of knowledge and experiences is crucial for building a strong foundation for future collaboration. By leveraging China's expertise in technology, manufacturing, and infrastructure development, African SMEs can gain access to new markets, enhance their competitiveness, and drive sustainable growth. A Comprehensive Training Experience: Bridging Knowledge and Opportunities An enriching series of activities complemented the seminar to deepen the participants' understanding of China's industrial landscape and foster cross-cultural exchange. One notable highlight was our participation in the China-Africa Free Trade Zone unveiling ceremony in Chenzhou, a significant milestone in Sino-African trade relations. Additionally, we visited several leading Chinese industrial enterprises, providing firsthand insight into China's cutting-edge technologies and manufacturing processes. These visits allowed us to observe the immense collaboration and knowledge-sharing potential between Chinese and African SMEs. Furthermore, the program included sightseeing activities in Changsha, where participants appreciated the region's rich cultural heritage. These experiences and the seminar provided a holistic view of the opportunities and challenges in fostering stronger China-Africa trade ties. Overcoming Challenges: The Path Forward Despite their significant potential, SMES face numerous challenges that hinder their growth and development. Access to finance remains a critical barrier, with many entrepreneurs struggling to secure the necessary funding to start or expand their businesses. Additionally, bureaucratic hurdles, inadequate infrastructure, and limited market access can stifle innovation and entrepreneurship. To address these challenges, policymakers must prioritise the needs of SMES by creating supportive ecosystems that foster entrepreneurship and innovation. This includes improving access to finance through microcredit programs, venture capital, and public-private partnerships. Simplifying regulatory processes and reducing bureaucratic red tape will also be essential in creating an enabling environment for SMEs to thrive. Furthermore, initiatives that promote knowledge sharing and capacity building will be vital in empowering African SMEs. Both Chinese and African governments can help entrepreneurs develop the skills and knowledge needed to succeed in a competitive global market by facilitating training programs, mentorship opportunities, and networking events. Collaborative efforts in research and development can also spur innovation, enabling SMEs to adapt to changing market demands and technological advancements. A Vision for the Future The recent seminar hosted by MOFCOM underscores the critical importance of SMEs in driving economic development in Africa and the immense potential for collaboration between China and African nations. By fostering stronger trade ties and supporting the growth of SMEs, both parties can unlock new opportunities for economic growth, job creation, and innovation. As the world becomes increasingly interconnected, the partnership between China and Africa will play a pivotal role in shaping the future of global trade and economic development. Both regions can work towards a more prosperous and sustainable future through mutual cooperation and shared goals. The commitment to empowering SMEs is not just a strategic economic initiative; it is a pathway to transforming lives, communities, and nations. Together, China and Africa can build a resilient economic landscape that benefits all stakeholders and paves the way for a brighter tomorrow. * Mayola is an independent writer and commentator **The views expressed do not necessarily reflect the views of IOL, Independent Media or The African.
The Hindu
06-05-2025
- Business
- The Hindu
Textile industry gets a boost in Kurnool with new MSME Park
In a significant step towards industrial development in Kurnool district, 'bhumi puja' for the upcoming Micro, Small, and Medium Enterprises (MSME) Park at Banavasi in Yemmiganur mandal on Tuesday. The MSME park, is envisioned as a hub for textile and allied industries. In the first phase, basic infrastructure will be developed across 22 acres, within three months. On the remaining 50 acres, plans are to utilise it for setting up textile-related units, including an effluent treatment. Speaking at the 'bhumi puja' ceremony, BC Welfare, Handlooms and Textiles minister S. Savitha, reaffirmed Chief Minister N. Chandrababu Naidu's commitment to the welfare of handloom weavers. She criticised the previous government for neglecting handloom weavers and said that CM Naidu, having personally witnessed the challenges faced by weavers in Mangalagiri, had instructed her to prioritise their welfare upon assuming office. She said: 'As soon as the NDA came to power, we began providing 200 units of free electricity to handlooms, and 500 units to powerlooms, per month in the State. Additionally, we are also establishing handloom clusters, organising exhibitions and have allocated ₹348 crore for these initiatives.' Industries and Commerce Minister T.G. Bharath assured that he would work towards getting Yemmiganur-made textiles recognition. Additionally, he said that he would also make efforts to get the Tirumala Tirupati Devasthanams (TTD) to use the shawls manufactured at Yemmiganur. 'I will also see that the shawls made here are used in my (industries) department,'' he said. Mr. Bharath said: 'The NDA government is focused on developing the State on all fronts. If given two decades of power we will make Andhra Pradesh one of the top developed States if the country.' Minorities Welfare Minister N. Md. Farooq along with other dignitaries attended the 'bhumi puja'.
