AGP Executive Report

India’s SME Rules: New GST reforms promise simpler registration and faster refunds, easing compliance for small e-commerce sellers. Digital Payments: The Philippines’ interoperable payment system has helped cut transaction costs for small firms; digital payments reached 64.7% of retail transactions by volume in 2025. China’s Economy: Factory activity contracted in October, though high-tech manufacturing remained in expansion — a mixed signal for smaller suppliers. Clean-Energy Finance: Indian startup Two Point O raised $10 million to fund clean-energy projects and expand financing for small businesses. Export Skills: Pakistan’s SMEDA and Alibaba plan to train 10,000 SMEs to reach global buyers. New Zealand Outlook: Just 38% of small businesses reported growth in 2025, versus a 62% regional average, renewing calls for long-term support and digital training.

Banking Access: Bangladesh’s BRAC Bank launched an omnichannel service that lets customers start a request through one channel and continue through another without repeating steps. SME Finance: Uzbekistan’s Open Bank and the Islamic Corporation for the Development of the Private Sector signed an agreement of intent for up to US$10 million in financing for SMEs and other private firms. Easier Selling: India’s GST reforms, effective Nov. 1, simplify registration and speed refunds for small online sellers. Export Push: Pakistan’s SMEDA and Alibaba plan to train 10,000 SMEs for global trade, with grants of up to Rs150,000 available to eligible businesses joining the platform. Digital Growth: Sri Lanka’s Export Development Board held an AI workshop for SME exporters, while a Mastercard report finds 63% of Indian SMEs want real-time payments.

GST Relief: India’s new rules let small e-commerce sellers use a platform warehouse as their business address in other states, easing nationwide expansion without opening offices. Simplified registration and faster refunds are also rolling out. Capital Markets: SEBI plans to delist inactive companies and is reviewing SME listing rules, aiming to reduce investor risks and market manipulation. Small-Business Credit: J&K Bank won CGTMSE recognition for the highest number of guarantee-backed loans to micro and small firms in Jammu and Kashmir and Ladakh, highlighting a route to collateral-free finance. Export Readiness: Pakistan’s SMEDA and Alibaba plan to train 10,000 SMEs to help them reach global markets.

GST Relief: From Nov. 1, eligible small online sellers can use e-commerce warehouses as their registered base in states where they lack a physical office. Faster refunds are also planned, with the changes potentially helping 9.5 lakh sellers reach customers nationwide. Startup Funding: Seven rounds raised about $42.8 million this week, led by AI and tech firms Live2.ai, Matiks and Cent; the total includes debt and secondary share sales, not just new equity. Small-Business Credit: J&K Bank won a CGTMSE award for the highest number of credit guarantees in Jammu and Kashmir and Ladakh, highlighting wider access to collateral-free loans. China Outlook: Manufacturing PMI fell to 49.3 in October, with small firms’ reading at 47.5, pointing to tougher conditions for smaller manufacturers. Export Push: Pakistan’s SMEDA and Alibaba plan to train 10,000 SMEs for global sales, while a separate scheme offers eligible firms grants of up to Rs150,000 to join the platform. Cambodian food businesses are also getting guidance on standards and market readiness for exports.

Export Readiness: Uganda has launched an academy to help coffee and cocoa traders meet international certification, quality and compliance standards. In Pakistan, SMEDA and Alibaba plan to train 10,000 SMEs and help up to 2,000 join the global platform, with grants of up to Rs150,000. Digital Skills: Sri Lanka’s Export Development Board trained 55 Kandy exporters to use AI for market research, finding buyers and automating routine work. An ADB report warns that weak implementation of digital trade rules leaves smaller firms without the resources or expertise to benefit. China Outlook: Manufacturing PMI fell to 49.3 in October, while readings for small and medium-sized manufacturers dropped to 47.5 and 48.4, respectively. High-tech manufacturing remained in expansion. Pacific Enterprise: Fiji’s Rabino Taratai has grown a small business into a shop, transport fleet and boat service, crediting the SPBD programme with helping her expand.

Fiji’s Women Entrepreneurs: Rabino Taratai, 31, has been named SPBD’s Businesswoman of the Year. Her Savusavu business has grown from a small start-up into a shop, transport services and boats linking communities. Fellow SPBD member Mereani Ikaniruru is turning traditional weaving into income and home renovations. Digital Payments: Mastercard reports 63% of Indian SMEs want real-time payments, above the 51% Asia-Pacific average. Many also want more flexible payment options and better control over business spending. Export Support: Pakistan’s SMEDA and Alibaba.com are offering eligible small businesses grants of up to Rs150,000, training and help joining the platform, aiming to prepare 10,000 firms and onboard up to 2,000. Credit Access: In China, small and midsize tech firms’ loans reached 4.15 trillion yuan by June, up 20% year on year, as banks compete to lend to favoured sectors. Other healthy businesses may find credit harder to secure.

Startup Finance: Indonesia’s lending platform Finfra has raised fresh Series A extension funding from ADB Ventures and existing investors to grow its technology and expand into new markets — the first investment through the NextFin Asia fund. SME Listings: Four Indian small-business IPOs opened on October 30, aiming to raise about ₹201 crore combined; SEBI is also reviewing SME listing rules. Rural Enterprise: Papua New Guinea’s Afore district plans community-owned coffee, cocoa and rice processing, a mini hydropower project and better export links, backed by a K12.5 million development plan. MSME Support: India’s NSIC reported ₹3,767 crore in revenue and ₹159 crore profit, and paid a ₹47.76 crore dividend to the MSME Ministry. Market Access: China’s import expo is positioning itself as a route for African exporters, with zero tariffs for eligible countries and faster channels for agricultural products. Cross-Border Growth: Singapore SMEs’ investments into Malaysia handled by Standard Chartered quadrupled over the past year.

Retail Returns: India’s festive-season “wardrobing” trend is squeezing online ethnic-wear sellers: returns can cost ₹100–120 each, while an estimated 25–30% of online apparel purchases are returned. Business Support: India’s MSME ministry is seeking ₹6,000 crore to sustain khadi and village industries. Business credit also rose 26% in Telangana and 25% in Andhra Pradesh. Cross-Border Growth: Investments by Singapore SMEs into Malaysia handled by Standard Chartered quadrupled over the past year. Climate Finance: A new Pacific fund has secured US$15 million from the Green Climate Fund, while another initiative is helping 100 SMEs expand solar infrastructure. Digital Tools and Trade: Google says AI could help level the field for India’s small businesses; Korean SME exports hit a record US$33.4 billion in the third quarter.

Capital Access: India’s SEBI plans to review SME IPO rules to improve emerging companies’ access to public markets, while considering tighter checks on how listed firms use IPO proceeds. Hyderabad-based Bondada Engineering has moved from the SME platform to the NSE main board. Online Sellers: GST changes expected from November 1 could let eligible small e-commerce sellers use platform warehouses in other states without setting up local offices, easing expansion. Pacific Climate Finance: A US$15 million Green Climate Fund investment will anchor a US$60 million fund for 15–20 small businesses and community cooperatives in Fiji, Tonga and Vanuatu, including in recycling, sustainable fishing and low-impact tourism. SME Lending: An Indian banking survey found lenders expect double-digit SME credit growth, though funding pressures remain. Practical Automation: At a Vietnam industry event, experts said SMEs can start with small-scale robot projects; a workstation may cost US$30,000–80,000, with a three-to-five-year payback, depending on the process and total costs.

India Manufacturing: The textiles ministry will reopen applications for its production-linked incentive scheme on November 1, lowering the turnover threshold for its second category from ₹200 crore to ₹100 crore. The scheme is extended through 2033-34, giving more mid-sized manufacturers a chance to invest and scale. Pakistan Export Access: Pakistan approved a two-year program to help small businesses reach international markets, alongside digital verification of trade documents through the Pakistan Single Window. SME Finance: UAE-based LuLu Financial Holdings is partnering with Purpleplum to expand SME banking services. Digital Growth: Google sees AI as a potential economic equaliser for India’s small businesses, while a separate report points to AI and cloud tools helping Indian small firms expand. Regional Trade: WTO chief Ngozi Okonjo-Iweala urged smaller economies such as Nepal to defend multilateral trade rules and encourage neighbours to shift parts of their value chains locally, creating openings for domestic manufacturers.

SME Finance: Indian banks expect strong credit growth, with private lenders especially upbeat as demand from small businesses and other sectors holds firm. In Hong Kong, Riverchain secured a US$10 million commitment to expand working-capital finance for construction contractors. Digital Growth: Oracle NetSuite says Indian small businesses are using AI and cloud tools to reach new states and overseas markets, narrowing the gap with larger firms. Financial Skills: Westpac PNG provided free financial-literacy training to more than 9,000 people in FY26, including lessons in budgeting and business planning. Fintech Push: Sri Lanka aims to use digital payments to help formalise its SME sector and move away from cash-heavy transactions.

Tourism Businesses: CNMI tourism, hotel and business groups warn that suspending visa-free travel for Chinese visitors could deepen the territory’s economic crisis. Chinese tourists made up more than 20% of arrivals in fiscal 2026, and leaders fear airlines may cut routes. SME Tech: India’s cloud boom is largely serving hyperscalers and big companies, CloudPe’s Karan Jaju says, leaving SMEs and mid-sized firms short of infrastructure tailored to their budgets and support needs. Export Access: Blue Dart has launched parcel services from India to the US for exporters. The government is also set to cover certification costs for micro and small exporters, while confusing forex reporting rules continue to delay payments to freelance and service exporters. Trade and Growth: India and the Netherlands are exploring ways to expand MSME partnerships. In South Korea, SME exports hit a quarterly record of $33.4 billion.

AI Adoption: Singapore has launched a programme to help companies make AI central to growth, starting with 24 businesses. Paytm is also taking its AI products to enterprise merchants, with plans to expand based on demand. SME Operations: Philippines outsourcing firm Yempo Solutions has launched a website offering small businesses guidance on scaling through offshore hires, including resources on ethical and compliant outsourcing. India’s Small Businesses: Jewellery retailer Khazanchi is moving from the BSE’s SME platform to the main boards of BSE and NSE, as it shifts toward a stronger retail focus. Business Climate: Converge CEO Dennis Anthony Uy says corruption and red tape are holding back Philippine small businesses, and urged greater transparency to help companies benefit from digital growth. Cross-Border Payments: Hong Leong Bank customers can now pay by QR at more than 120 million merchants in China, including small businesses, and convert ringgit to yuan ahead of travel.

Cross-Border Growth: India and the Netherlands are exploring new ways to build MSME partnerships. South Korean SME exports also hit a record $33.4 billion in the third quarter, led by strong sales of beauty products and chips. Export Support: India says it will cover certification costs for micro and small exporters, easing a hurdle to overseas sales. Payments & Compliance: Confusion over RBI forex-reporting rules is delaying payments to freelancers and small service exporters, who need clearer guidance on filings. Digital Sales: New GST e-commerce registration rules for small sellers are due to take effect in India on November 1. Regional Investment: A Sarawak entrepreneur has urged the proposed Sibu Economic Zone to include an SME robotics park, alongside better air links and high-tech infrastructure.

Sarawak’s SME plans: An entrepreneur says the proposed Sibu Economic Zone should include a robotics-focused industrial park, backed by better air links and digital infrastructure. Korean exports: SMEs shipped a record $33.4 billion in the third quarter, up 8.8% year on year, led by cosmetics and semiconductors; the US became their top market. Nigeria funding: The NSIA awarded seven firms $275,000 to expand and create jobs, as officials warn that many promising businesses still lack finance and skills. African market access: China’s zero-tariff policy for 53 African countries could encourage local processing and exports, including Ghanaian cocoa, cashew and shea products. India exporters: The government says it will cover certification costs for micro and small firms under its export promotion scheme. Cross-border payments: UAE wallet etisalat money is adding Visa Direct services for remittances and small-business payments.

Women-Led Business: India’s National Saras Mela has logged ₹8.24 crore in sales, giving rural women entrepreneurs a platform to reach customers and grow their businesses. Export Support: The Indian government will cover certification costs for micro and small exporters under the EPM, easing a compliance expense. Buyer Access: Goa’s global business summit is set to connect 220 MSMEs with 300 buyers from October 29, creating a new route to commercial partnerships. Payments: Confusion over India’s foreign-exchange reporting rules is delaying service payments to freelancers and exporters.