GST rationalisation
The Government of India has introduced GST rate rationalisation measures aimed at reducing costs and enhancing competitiveness across various sectors. Key reforms include the elimination of the value threshold for GST refunds on low-value e-commerce exports, benefiting small exporters and MSMEs. The changes are expected to lower input costs, streamline
India
India and the Eurasian Economic Union (EAEU) have signed the Terms of Reference to initiate negotiations for a Free Trade Agreement (FTA) in Moscow. This agreement aims to enhance trade, support MSMEs, and diversify market access, with trade turnover reaching USD 69 billion in 2024. The FTA is expected to
Corporate Compliance
The Government of India has implemented a series of reforms aimed at simplifying corporate compliance, reducing costs, and promoting ease of doing business for Micro, Small, and Medium Enterprises (MSMEs) and startups. Key measures include allowing direct overseas listings, transitioning to online adjudication, streamlining company registration processes, and introducing a
Public Sector Banks
The Ministry of Finance has implemented various reforms to enhance credit discipline in Public Sector Banks (PSBs) and improve credit flow to Micro, Small, and Medium Enterprises (MSMEs). Key measures include the enactment of the Insolvency and Bankruptcy Code (IBC), the establishment of a Central Repository for monitoring corporate loans,
Quantum Mission
The Department of Science and Technology (DST) is implementing the National Quantum Mission (NQM) to support startups and MSMEs in high-tech sectors, particularly in quantum technologies. Four Thematic Hubs (T-Hubs) have been established to facilitate collaboration between academia, R&D organizations, and industry. Eight startups have received support, and
Bilateral Trade
The Indian Government is analyzing a recent statement by the US President regarding bilateral trade. Ongoing negotiations aim to finalize a fair and mutually beneficial trade agreement. The Government emphasizes the importance of protecting farmers, entrepreneurs, and MSMEs, and is committed to securing national interests in trade agreements, including the
AEO framework
The Government of India has implemented several initiatives to expedite exports and imports under the Authorized Economic Operator (AEO) framework, as stated by Union Minister of State for Finance, Shri Pankaj Chaudhary. Key measures include enhanced facilitation for AEO certificate holders, such as Direct Port Delivery, automated clearance, and relaxed
steel production
The Ministry of Steel has released data on crude steel production capacity and actual production over the last five years, showing a steady increase in both metrics. In 2024-25, the total crude steel capacity is projected to reach 200.33 million tonnes, with MSMEs contributing 47% of this capacity. The
Export System
The Government has launched several initiatives to improve transparency and compliance in the export system, particularly benefiting MSMEs and small businesses. Key measures include digital reforms by the DGFT for online applications, a self-certification mechanism for eBRCs, and the Trade Connect ePlatform for trade queries. The Niryat Bandhu Scheme supports
CETA
The Ministry of Commerce and Industry held a meeting to discuss the opportunities presented by the India-UK Comprehensive Economic and Trade Agreement (CETA) for the textiles, leather, and footwear sectors. Union Minister Piyush Goyal emphasized that CETA will enhance competitiveness for Indian exporters, potentially doubling leather and footwear exports to
Digital Credit Assessment
The Ministry of Finance has introduced a New Digital Credit Assessment Model for MSMEs, aimed at expediting loan approvals by utilizing real-time digital data. This model, launched on March 6, 2025, allows Public Sector Banks (PSBs) to assess MSME creditworthiness through automated, objective processes, significantly reducing paperwork and processing time.
MSMEs
The Government has launched various schemes to enhance the export competitiveness of Micro, Small, and Medium Enterprises (MSMEs). Key initiatives include the RoSCTL and RoDTEP schemes for tax rebates, the Districts as Export Hubs initiative, and the Trade Enablement and Marketing Initiative (TEAM) to support digital commerce. Additionally, Export Facilitation