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New Schemes in Pharma Sector for MSMEs

To encourage investment, research & innovation, to enable the sector to develop futuristic products and ideas, the Government has released announced 3 new schemes for MSMEs in the Pharma Sector.

The aim is to strengthen the MSMEs in the Pharma sector by providing support in upgrading their facilities to global manufacturing standards. 

This announcement made on July 21, 2022, by the Ministry of Chemicals and Fertilisers rolled out the new schemes under the banner of ‘Strengthening Pharmaceuticals Industry’ (SPI). 

The New Schemes are:

~Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS)

~Assistance to Pharma Industries for Common Facilities Scheme (API-CF)

~Pharmaceutical and Medical Devices Promotion and Development Scheme (PMPDS

Watch LawWiser’s video on this new update to know all the important details! 


Making of a Unicorn – LawWiser | IBG

The term Unicorn has found a new definition with the rise of startups around the world. And India is not far behind, having recorded more than 100 Startup Unicorns valued at around $340 Bn combined, the list is only growing!

LawWiser in collaboration with India Business Group explores this trending term Startup Unicorns in this interesting #FiresideChat about the Making of a Unicorn!

Join our host Aman Abbas Founder & CEO, LawWiser, in conversation with Amarjit Singh, CEO, India Business Group (London) where they explore –

⭐️ What pointers can other start-ups take from Unicorn start-ups who become a unicorn within a year of starting business?

⭐️ What are your thoughts on Unicorns being criticised for valuation and being termed as a bubble?

⭐️ As there has been a slowdown in the fundings, How does it affect the growth of start-ups?

⭐️ How would the UK-India Free Trade Agreement (FTA) help in the growth of the start-ups in India and the UK?

⭐️ What pointers should the start-ups focus on to become a unicorn?

⭐️ What are the sectors where we would find more Unicorn Start-ups?


Electricity Rules, 2021

The Electricity Amendments Bill 2021 aims to revive the sector while focusing on the 4 Cs—customer, competition, compliance and climate.

New rules were published by the Ministry of Power to ensure the sector’s economic viability, reducing financial stress among numerous stakeholders. 

Renewable energy projects, such as wind, solar, hybrid, and hydropower must be regarded as a must-run project under the laws. 

Tune into LawWiser premium on “Electricity Rules, 2021” featuring Ojasvi Dhamija highlighting the policies enacted under it.

He tells us that measures should be taken to promote efficient and ecologically friendly policies in the power industry’s development; and that encouragement of private investment in the electrical sector, should be notably tracked.

In the end, Ojasvi added that the guidelines are a step in the right direction in terms of restoring investor confidence in the power sector and addressing the threat of arbitrary power generation curtailment by procurers.

#smesupport #sme #electricity #msmes #msmeindia #startup #startupindia #stakeholders #electricitygeneration #monetary #privateinvestment #generator #legalknowledge #legalcommunity #hydropower #customer #legalnews #legalnewsindia #law #arbitration #compliance


Entrepreneurial and managerial development of SMEs through Incubators

The entrepreneurial and managerial development of SMEs through incubators scheme comes under the Ministry of Micro, Small and Medium Enterprises of the Government of India.
The main aim of the scheme is to support innovators and further facilitate funding for all the business incubators.
Watch LawWiser video on Entrepreneurial and managerial development of SMEs through Incubators with Avani Shukla, Lawyer & Growth and collaborations at lawWiser. In this video, Avani will help you understand –

  • Objectives of the scheme
  • The scheme’s benefits and highlights
  • The eligibility criteria for this scheme
  • The registration process involved

Stay tuned for more such updates!


Battery Swapping Policy

Niti Aayog has released a draft battery swapping policy, which proposes and talks about incentives to be provided to Electric vehicles. It includes a wide range of incentives ranging from swappable batteries to setting standards for interoperable batteries.

It is a mechanism where discharged batteries can get exchanged with the charged ones. The battery swapping technique is majorly used by two-wheelers and three-wheelers as it is easier to swap smaller batteries as compared to that of four-wheelers and e-buses.

But battery swapping techniques for these relatively larger vehicles are still in progress and new solutions are emerging.
Watch the LawWiser video on Battery Swapping Policy with Avani Shukla, Lawyer & Growth and collaborations at lawWiser. In this video, Avani will help you understand –

What does battery swapping exactly mean?

What does the draft policy suggest?

What are the objectives of the Battery swapping policy?

Stay tuned for more such updates!


Obligations for MSME and Qualifying Criteria

The micro, small, and medium enterprises development act of 2006 (MSMED) is a single comprehensive act for the development and regulation of micro, small and medium enterprises (MSME). 

Tune into the LawWiser premium video on “Obligations for MSME and Qualifying Criteria” by Ojasvi Dhamija.

In the video, Ojasvi shares certain obligations that need to be fulfilled to be registered as MSME, under the prescribed MSMED Act.

Previously, MSMEs were required to obtain multiple registrations under different registration windows to receive various benefits. However, the government has recognized this problem and introduced a single-window registration system known as Udyog Aadhar (UA) registration.

Watch the full video to grab useful insights about the documentation process required for registration. 

#msmeindia #msme #startup #publiccompany #privatecompany #msmeregistration #companiesact2013 #enterprises #compliances #corporatecompliance #legalknowledge #legalcommunity #law #legaldocuments #msmes #legalcompliance 


Ban on single-use plastic

The Ministry of Environment, Forest and Climate Change, Government of India, has notified the Plastic Waste Management Amendment Rules, 2021.

Pollution caused by single-use plastic objects has become a major environmental issue that all countries are grappling with. India has pledged to take steps to reduce pollution caused by discarded single-use plastics. 

Tune into LawWiser premium video on “Ban on single-use plastic” featuring Ojasvi Dhamjia briefly explaining the guidelines mentioned in Plastic Waste Management Rules 2016.

According to the Plastic Waste Management Rules, 2016, the plastic packaging waste that is not covered by the phase-out of identified single-use plastic items must be collected and managed in an environmentally sustainable manner.

As per the given information, State/UT Governments, as well as key central ministries/departments, have been asked to produce a comprehensive action plan for the elimination of single-use plastics.

Subscribe to LawWiser premium for more such knowledgeable content.

#plastic #wastemanagement #climatechange #management #environement #singleuseplastic #stategovernment #msmes #msmeindia #startup #legalawareness #legalknowledge #legalnews #premium #plasticwastemanagement #legal 


‘ECLGS’ – Emergency Credit Linked Guarantee Scheme

The ECLGS aims to provide 100 percent guaranteed coverage to the banks, non-banking financial institutions (NBFC’s), and other lending institutions to enable them to extend emergency credit. Over time it has evolved into three different versions ECLGS 1.0, ECLGS 2.0 and ECLGS 3.0.

Tune into the #LawWiser premium video on “ECLGS Scheme” where Prabhjot briefly analyzes the features of this scheme.

In the Video, He tells us that the scheme will ensure that loans are quickly sanctioned under this facility as the lenders have the Central government guarantee in case of default against these loans. It also includes that the processing charges, foreclosure, and prepayment charges will be waived.

He also says that the scheme provides loans will be given in the form of additional working capital term loan facility (in case of banks and financial institutions) and additional term loan facility (in case of NBFCs) from all Member Lending Institutions (MLIs) to eligible business enterprises/MSMEs.

#emergency #credit #guarantee #scheme #msme #msmeindia #nbfc #loans #travel #tourism #startup #compliance #collateral #compliancesolutions 


Mandatory Registration for MSME

Is it mandatory for MSMEs to get register under the Micro, Small and Medium Enterprises Development Act, 2006? 

Watch LawWiser video on Mandatory Registration for MSME with Avani Shukla, Lawyer & Growth and collaborations at lawWiser.

She helps us understand this with the help of important case law- M/s Silpi Industries Etc. v. Kerala State Road Transport Corporation & Anr. 

She explains brief facts of the case and supreme court observations. 

The SC’s observations on registration only prospectively conferring benefits under the MSMED Act have started a significant debate in the country. 

The issue is of major concern as there are many unregistered MSMEs in India as compared to registered MSMEs and thus the impact is at large. 

Stay tuned for more such updates!


RBI Directions for Microfinance Loans, 2022

The Reserve Bank of India has instructed all the regular entities lending to the microfinance sector to ensure that the loans are collateral-free and not protected by a lien on the borrower’s deposit account. 

Tune into the #LawWiser premium video on “RBI Directions for Microfinance Loans, 2022” featuring Prabhjot Singh briefly explaining the directions given by RBI.

In the video, Prabhjot tells us that the Reserve Bank of India has eliminated the margin caps that were previously solely applicable to non-banking finance businesses. 

The collateral loans offered to low-income households, i.e., households with an annual income up to $3 lakh, will now be termed “microfinance loans”. 

He shares that there must be a RE board-approved policy that brings flexibility to the payback period.

Interest rates on all three levels, i.e., minimum, maximum, and average on the microfinance loans must be informed in all RE offices.

RE or its agent will not utilize punitive recovery measures. 

To learn more about these RBI directions, watch the full video.

#rbi #rbipolicy #collateral #loans #microfinance #borrowers #nbfc #business #finance #recovery #payback #interestrates  #msme #startups #compliance #msmeindia  

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