From IMTMA

Beginning from June 8, 2020, India will be entering the three-phased Unlock 1.0 which interestingly comes at a time when the novel coronavirus cases are hitting its peak in terms of number of cases and causalities. With India being seventh-worst hit country in terms of coronavirus as per the World Health Organisation (WHO) Covid-19 tracker, industries need to tread cautiously in this phase of unlocking. Businesses have to continue their operations with new SOPs and guidelines to stay safe and keep the economic cycle running.

The union cabinet has approved further changes to MSME definition and as per the new definition, a company with upto Rs.50 crore investments and upto Rs.250 crore turnover will be classified as a medium enterprise. Furthermore, State Bank of India has directed its branches to process and disburse working capital loans within 5 days to enable MSMEs overcome the coronavirus impact. The union government has announced a series of stimulus measures for MSMEs to improve liquidity and meet cash flow requirements. Member companies are urged to explore and make use of the funds for their revival plan judiciously.

Meanwhile the Ministry of Home Affairs, Government of India has relaxed visa and travel restrictions to permit certain categories of foreign nationals to come to India. Foreign businessmen can come to India on business visa in non-scheduled commercial flights. Similarly with requisite permissions, researchers, engineers, technicians, design or other specialists will also be permitted to travel to India, which spells good news for industries.

The newsletter brings you updates on various stimulus measures/packages announced by the central and state governments. It also gives an insight into news updates, various government notifications and best practices adopted by Indian and overseas industries to combat the coronavirus pandemic..
 

News Updates

 
  Recovery can be faster if government gives
incentives: Steffen Knapp, Director, Volkswagen Passenger Cars India
(Economic Times Auto, June 4, 2020).		   Amara Raja top pick among auto parts companies
with high share of replacement market
(Economic Times Auto, June 4, 2020).		  
         
  Uday Kotak takes charge as CII president 
(Economic Times Auto, June 4, 2020).		   Renault India hikes employees’ salary
upto 15% despite Covid-19 shock
(Economic Times Auto, June 4, 2020)		  
         
  Companies get 6-month grace
on defaults after lockdown
(Times of India, June 4, 2020).		   1 lakh beat virus in India, recovery rate at 48%
(Times of India, June 4, 2020).		  
         
  Atmanirbhar Bharat: Success depends
on how India negotiates terms with US, EU
(Financial Express, June 4, 2020).		   Short of funds, startups line
up to register as MSMEs for govt sops
(Livemint, June 4, 2020).		  
 

Central Government Advisories
 
 

Ministry of Finance

Operational guidelines for Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs. Read More

      

DGFT, Ministry of Commerce

Helpdesk operationalized by DGFT for Covid-19 related Export or Import issue. Read More

  
 

Central Government Notifications
 
 

Ministry of Micro, Small and Medium Enterprises, Government of India

Notification of new definition and criteria for micro, small and medium enterprises – to come into effect by July 1, 2020. Read More

      

Central Board of Indirect Taxes and Customs, Department of Revenue, Ministry of Finance, Government of India

Extension of the facility of 24 x 7 Customs clearance at all Customs formation till June 30, 2020. Read More

  
             
 

Central Board of Indirect Taxes and Customs, Department of Revenue, Ministry of Finance, Government of India

Special drive for disposal of applications for fixation of Brand Rate of Duty Drawback along with Annexure. Read More

  
 

National Best Practices
 
 

Volkswagen India

Volkswagen India launched WeltAuto 3.0, a digital customer interface for buying and selling of pre-owned cars, the company said in a release. Prospective customers can now book their preferred pre-owned car or sell their existing vehicle on the DWA website. Read More

      

Hyundai Motor India

Hyundai Motor India (HMI”) has launched an upgraded version of end-to-end online automotive retail platform ‘Click to Buy’ to provide a safe and contactless purchasing experience to consumers in post-Covid era. Read More

  
 

Global Best Practices
 
 

Honda

Honda is producing 1,30,000 face shields for pandemic first test responders. About 70,000 of the protective devices have already been delivered. Read More

      

Stratasys Coalition

A coalition of companies and universities assembled by Stratasys Ltd. (NASDAQ: SSYS) to produce face shields leveraging 3D printers now numbers more than 150, the company said. Among others, the list includes Boeing, Toyota Motor Company, Medtronic, Dunwoody College of Technology, the University of Central Florida, and the University of Minnesota. Read More

  
 
Online Training Programmes
 

The following are paid programmes conducted online:

  • Selection of Motors for Industrial Applications (June 5, 2020, 2.00 p.m. - 5.00 p.m.). Register Now
  • Anti Friction Bearings - Types, Selection and Applications (June 6, 2020, 10.00 a.m. - 1.00 p.m.). Register Now
  • World Class Manufacturing - What, Why and How; Tools and Techniques (June 6, 2020, 2.30 p.m. - 5.30 p.m.). Register Now
  • Machine Tool Spindles - Design Approach (June 7, 2020, 10.00 a.m. - 1.00 p.m.). Register Now
  • Effective Maintenance towards Zero Down Time (ZDT) - Electrical aspects of CNC Machines (June 9 - 10, 2020, 2.00 p.m. - 5.00 p.m.). Register Now
  • Industry Internship on Manufacturing of DRILL JIG for Gear Pump Housing (Design - Manufacturing - Assembly) (June 10 - 20, 2020, 10.00 a.m. - 12.00 p.m.). Register Now
  • Inventory Control - A tool for competitiveness (June 11, 2020, 2.00 p.m. - 5.00 p.m.). Register Now
  • Advanced Technologies in Metrology (June 12, 2020, 2.00 p.m. - 5.00 p.m.). Register Now
  • Cost Effective & Collaborative Automation - Need of the hour for Industry (June 13, 2020, 10.00 a.m. - 1.00 p.m.). Register Now
  • How to reduce Cost of Poor Quality (COPQ) (June 13, 2020, 2.30 p.m. - 5.30 p.m.). Register Now
  • Servo Technology for Industrial Motion Control (June 14, 2020, 10.00 a.m. - 1.00 p.m.). Register Now
  
 
  IMTMA Covid-19 Policy Advocacy       IMTMA Covid-19 Help Desk  
             
 

IMTMA has set up a section on Covid-19 Policy Advocacy, relevant Notifications, Press notes, Orders and Circulars issued by the Central and State governments, and the Reserve Bank of India are published on the page

      

IMTMA is pleased to announce formation of “COVID-19 IMTMA Help Desk” for proactively addressing the concerns of Members, specifically related to COVID-19 Government Policies, Financial and Regulatory issues. Members may send their queries by clicking on “COVID-19 IMTMA Help Desk” button in IMTMA homepage www.imtma.in and filling-up the query form

  
 

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Published by Indian Machine Tool Manufacturers' Association (IMTMA), Bangalore International Exhibition Centre (BIEC), 10th Mile, Tumkur Road, Madavara Post, Bangalore - 562 123. Tel.: +91 80 6624 6600  Fax: +91 80 6624 6661  E-mail: imtma@imtma.in  Web: www.imtma.in

Disclaimer: The content and figures shown in the newsletter have been taken from different websites and IMTMA does not take responsibility for the accuracy of the same.