Advantage India
Sector
Overview
* The number of MSMEs in India increased by a CAGR of 18.5% from 2019 to 2020.
* In FY21, the loan disbursals to MSMEs stood at Rs. 9.5 trillion (US$ 128.06 billion), a 40% increase compared with Rs. 6.8 trillion (US$ 91.66 billion) in FY20.
Statutory
Bodies
* The MSME Ministry heads five statutory bodies—KVIC, Coir Board, NSIC, NI-MSME and the MGIRI
* These bodies are responsible for aiding MSMEs with respect to government schemes and policies
Government
Schemes
* In November 2021, the Indian government launched the Special Credit Linked Capital Subsidy Scheme (SCLCSS) for the services sector. This scheme will help enterprises in the services sector meet various technology requirements.
policy
Support
* In July 2021, the Indian government announced inclusion of retail and wholesale trades as MSMEs to strengthen the sector and boost economic growth.
* Budget allocation for MSMEs in FY22 more than doubled to Rs. 15,700 crore (US$ 2.14 billion) vis-à-vis Rs. 7,572 crore (US$ 1.03 billion) in FY21.
Elkay Chemicals Private Ltd
Established in 1990, Elkay Chemicals Pvt. Ltd. is a performance silicone products manufacturer for the Indian and global markets offering over 80 high performance products across sectors such as agriculture, phamaceuticals, personal care, petrochemicals, rubber and tyre, construction, textiles, industrial/ distillery etc. The company is a major exporter of silicone products & solutions. Some of the customers of the company include Bharat Petroleum, Bridgestone, Cipla etc.
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Mohindra Fasteners Limited
Mohindra Fasteners is a manufacturer of screws and automotive parts. The company manufactures a wide range of industrial set up for spherodised annealing and wire-drawing to be able to provide desired mechanical properties for forging and machining facilities. The manufacturing plants are equipped with CNC machines, vertical milling machine, heat treatment line, PLC controlled Surface treatment facility etc. The company has initiated construction of a greenfield expansion at a new location at IMT Rohtak.
Read MoreBiocon Ltd
Biocon Ltd is India's largest biotech company delivers innovative biopharmaceutical solutions, ranging from discovery to development and commercialization, leveraging the cutting edge science, cost-effective drug development capabilities and global scale manufacturing capacities, to move ideas to market. It is committed to reduce therapy costs of chronic diseases like diabetes, cancer and autoimmune diseases by leveraging India's cost advantage to deliver affordable healthcare solutions to patients, partners and healthcare systems across the globe.
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