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Ludhiana: The Global Alliance for Mass Entrepreneurship (GAME) in partnership with the department of industries and commerce (government of Punjab) and Chamber of Industrial & Commercial Undertakings (CICU) launched Xcelerator programme, ‘Sadda Karobaar, Punjab di Shaan’ on Tuesday. This is a six-month business accelerator programme to support promising mass entrepreneurs (SMEs) in improving their productivity, efficiency, and profitability and scale their businesses faster. In this programme 27 entrepreneurs in the Rs 2 crore-Rs 50 crore annual revenue category have been selected from an application pool of over 450. Under the programme, once the Ludhiana pilot project is completed, it is expected to be rolled out across other districts of Punjab. ....
Synopsis The year 2020 brought distress and damage aplenty for the MSME sector. Can the next year herald a new beginning for them? iStock Will 2021 herald a new beginning for a sector dubbed as the ‘growth engine’ of the economy? The year gone by may well have been the worst nightmare that came true for the MSME sector. Already reeling under the impact of delayed payments and slowdown in demand in 2019, the sector had long been facing its share of turmoil. But absolutely nothing could have prepared it for the eventuality that was to follow. The coming of the virus and the resultant lockdowns that were announced was the final blow for a sector, often referred to as the ‘backbone’ of the Indian economy. And for a good reason. India is home to over 60 million MSMEs, accounting for 30% of India’s GDP and 40% of the overall exports in the country. ....