The ministry of micro, small and medium enterprises (MSMEs) has invited ideas from startups, innovators, technocrats, MSMEs and others for funding support up to INR 15 Lakh per approved idea through the business incubators chosen by them.
SHANGHAI - Messe Frankfurt’s three Shanghai textile fairs which were due to take place in March have been postponed until later in the year because of the coronavirus outbreak.
Tiruppur Exporters' Association (TEA) president Raja M Shanmugham has welcomed the Union Budget 2020-21 presented by finance minister Nirmala Sitharaman in Parliament today.
The notification on revision of drawback schedule will come into effect from February 4, 2020.
The Union Budget 2020-21 has earmarked an all-time high allocation of Rs 7,572.20 crore for the Ministry of Micro, Small and Medium Enterprises while announcing a string of initiatives for the sector including raising the turnover threshold for audit of their accounts to Rs 5 crore and a scheme to provide subordinate debt to MSME entrepreneurs.
The textile and clothing industry has welcomed the announcements in the Union Budget calling it growth-oriented and positive.