New Delhi, Apr 3 (PTI) The Department for Promotion of Industry and Internal Trade (DPIIT) on Thursday said it has updated guidelines for issuance of Industrial Entrepreneur Memorandum (IEM) acknowledgment.
These acknowledgments are for large-scale operating in requiring compulsory licensing under the Industries (Development & Regulation) Act, 1951; and companies having investment in plant and machinery, or/and annual turnover beyond the limits set for MSMEs.
According to the updated guidelines, the revised criteria will now be investment in plant and machinery/equipment exceeding ₹125 crore, or/and annual turnover exceeding ₹500 crore.
The revised criteria shall be applicable with effect from April 1.
“This is a significant increase in threshold limits in investment in plant and machinery from existing ₹50 crore to ₹125 crore and annual turnover limit from existing ₹250 crore to ₹500 crore,” it added.
Interio allocates ₹55 cr towards growth initiatives
* Godrej Enterprise Group’s office furniture arm Interio on Thursday said it has allocated ₹55 crore towards growth initiatives.
The company is targeting a 15 per cent revenue growth in FY26 in the B2B business, and 30 per cent growth in institutional segment by 2027, as per a statement.
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* NSE Academy, a wholly owned subsidiary of the National Stock Exchange (NSE), on Thursday said it has signed an agreement with Thunderbird School of Global Management (Thunderbird) at Arizona State University to offer joint certificate programmes focused on technology, finance, and business education.
The collaboration aims to equip professionals and senior leaders with extensive and industry-relevant skills, as per a statement.
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* Non-bank lender Piramal Finance on Thursday announced that it has borrowed USD 265 million from global financial institutions.
The external commercial borrowing facility saw participation by First Abu Dhabi Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation (SMBC), The Hongkong and Shanghai Banking Corporation Limited (HSBC), as per a statement.
