New Delhi, April 3 (PTI) Ministry of Promotion of Industry and Internal Trade (DPIIT) said on Thursday that it has updated its guidance for issuing Memorandum of Industrial Entrepreneurs (IEM).
These confirmations are for large-scale operations in terms of compulsory licensing as stipulated in the Industry (Development and Regulation) Act of 1951; and for companies that invest in factories and machinery, or/and annual turnover, exceeding the limits set by MSMES.
According to the latest guidelines, the revised standards will now be investments in factories and machinery/equipment overhead ₹Annual turnover of more than 1.25 million is 1.25 million ₹5 billion.
The revised standards should come into effect from April 1.
“This is a significant increase in the existing investment threshold limits for plant and machinery investment ₹500 million ₹Existing 12.5 billion and annual turnover limits ₹2.5 million ₹$5 billion,” it added.
Inter-distribution ₹55 CR towards growth plan
* Godrej Enterprise Group’s office furniture Arm Interio said Thursday it was allocated ₹Rs 550 crore growth plan.
According to a statement, the company aims to see revenue growth of 15% for the B2B business in fiscal 26 and grow 30% in the institutional sector by 2027.
***** NSE Academy Inks deals with Thunderbird to offer joint certificate programs
* NSE Academy, a wholly owned subsidiary of the National Stock Exchange (NSE), said Thursday it has signed an agreement with Arizona State University’s Thunderbird School of Global Management to provide a joint certificate program for technology, finance and business education.
According to the statement, the collaboration aims to provide professionals and senior leaders with a broad range of industry-related skills.
***** Piramal Finance borrows $26.5 billion from global financial institutions
*Non-bank lender Piramal Finance announced Thursday that it had borrowed $265 million from financial institutions around the world.
External commercial lending facilities saw participation from the First Abu Dhabi Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation (SMBC), Hongkong and Hanghai Banking Corporation Limited (HSBC).
