Press Release

News,Article,Findoc | June 02
Enhancement of turnover limit of MSME sector to help exporters


Source- Financial Express

The government’s decision to increase the turnover limit for medium units from Rs 100 crore to Rs 250 crore will help infuse technology and promote automation in certain sectors and boost outbound shipments, according to exporters.

Federation of Indian Export Organisations (FIEO) President Sharad Kumar Saraf said that exclusion of exports turnover from total turnover will help in internationalisation of MSMEs and will bring their focus on exports.This will also benefit a lot of gems and jewellery companies, who would have breached the MSME criteria due to sheer cost of their inputs,” he said in a statement.

The cabinet on Monday approved further increasing the limit for medium manufacturing and service units to Rs 50 crore of investment and Rs 250 crore of turnover.

The turnover with respect to exports will not be counted in the limits of turnover for any category of MSME units whether micro, small or medium.The move is most pragmatic and will also infuse technology as in certain sectors margins are so low that enhancement in investment in plant and machinery would not have been of much use unless accompanied by increase in turnover limit to Rs 250 crore.

Such a move will also bring automation of certain processes which are required for competitive manufacturing,” he added. Hailing the decisions on MSME sector, financial advisory firm Findoc Group MD Hemant Sood said that MSMEs are the backbone of the Indian economy and the highest employer of skilled labour.

“The decision by the government to allow listing of MSMEs will help them in longer term and become a growth engine for their revival,” Sood said.

Apparel Export Promotion Council (AEPC) Chairman A Sakthivel also said that as the exporters’ turnover depends upon the foreign exchange rates and since rupee value has continuously weakened for the last 10 years, the council had requested the government to remove the turnover criterion for defining MSMEs in the exports sector.Today’s decision will propel India’s exports and strengthen the MSME sector, which is the key to India becoming self-reliant. Further, the decisions to allow MSMEs get listed and the provision of distressed asset fund for MSMEs will give a major stimulus to the sector, job generation and revival of the economy,” Sakthivel said.

img
img
img
img
img
img

Important Message The information contained in this file is provided for informational purposes only, and should not be construed as legal advice on any matter. The content and interpretation of the law addressed herein is subject to revision. We disclaim all liability in respect to actions taken or not taken based on any or all the contents of this file to the fullest extent permitted by law. Every effort is made to avoid errors. In spite of that, errors and discrepancies may creep in. It is expressly stated that neither Findoc Investmart Private Limited nor any of the contributors of updates will be responsible for any damage to anybody on the basis of this document. Readers are, therefore, requested to cross check with the original sources e.g. Government publications, Orders, Judgments etc., before taking any action or making any decision. These services are being provided through our group companies Findoc Capital Mart Pvt Ltd and Findoc Finvest Private Limited

Attention Investors
  • 1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020.
  • 2. Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.
  • 3. Pay 20% upfront margin of the transaction value to trade in cash market segment.
  • 4. Check your securities / MF / bonds in the consolidated account statement issued by NSDL/CDSL every month.
No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries forrefund as the money remains in investor's account."
Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactionsin your demat account directly from NSDLon thesame day.....issued in the interest of investors."
KYC is a one-time exercise while dealing in securities markets-once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary." | (As instructed by SEBI, We hereby declare that we do engage in proprietary trading in all segment across the exchange.)
Effective communication & Speedy redressal of the grievances a. Register on SCORES portal b. Mandatory details for filing complaints on SCORES: i. Name, PAN, Address, Mobile Number, Email ID c. Benefits: i. Effective communication ii. Speedy redressal of the grievances link: https://scores.gov.in/scores/Welcome.html

FINDOC INVESTMART PVT. LTD./FINDOC FINVEST PVT LTD.

Registered Office :

SCO 210-211, Sector 34-A Chandigarh-160022

Corporate Office :

4th Floor, Kartar Bhawan, Near PAU Gate No.1, Ferozepur Road Ludhiana -141001.