Software lobby group Nasscom is looking at expanding the number of start-ups in India, incubating and nurturing them to grow at its centres. While the target is to reach 10,000 start-ups, the focus is also to build specialised start-ups in emerging technology areas. “So one of the outputs o…
Amazon start-ups program in India witnesses huge spike in applications
Indian start-ups have shown huge interest in e-commerce giant Amazon global start-up program called ‘Amazon Launchpad’ which was launched early this month. The Indian arm of Amazon claims to have received over 400 applications in just two weeks of the launch. Amazon India said in a statement that…
Internet economy: Reality check at start-ups
For Indian Internet start-ups, this year turned 2015 on its head. Valuation markdowns, executive departures, job cuts, market share losses (to American rivals) and a lack of big-ticket fund raises dominated the headlines in 2016. It was a total departure from the previous year, when start-ups tou…
Centre of excellence, skill development centre will be a boon to the foundry sector: IIF
Coimbatore: A proposal to set up Centre of Excellence for casting technology and Skill Development Centre for the benefit of MSME foundries here is awaiting approval from the Centre, which is expected by January end, the Institute of Indian Foundrymen said. Once the Centres are set up, it will be…
RBI extends time before small loan accounts classified as NPA
The Reserve Bank of India (RBI) on December 28 further eased the prudential norms for classifying a loan account as non-performing asset (NPA) in respect of small borrowers. In its notification, the RBI said on reviewing its November 21 order, it has been decided to provide additional 30 days &#…
National MSME Policy to be unveiled soon
A much-anticipated national policy was soon to be finalised by a one-man panel consisting of former Cabinet Secretary Prabhat Kumar to usher in ‘ease of doing business,’ a change in the definition of medium, small and micro enterprises (MSME), flexible credit norms as well as labour laws. For, th…
MSME Ministry begins design workshop for manufacturing units
The Micro, Small and Medium Enterprises (MSME) Ministry started a national workshop to impart design expertise to manufacturing units with an aim to enhance product competitiveness. MSME Minister Kalraj Mishra inaugurated the National Workshop on Design Clinic Scheme under the National Manufactur…
Year in Review: Kunal Shah of FreeCharge biggest angel investor in 2016
Top 10 corporate leader-turned-angel investors, including Anupam Mittal, Ratan Tata and Mohandas Pai, tightened the strings of their investment purses this year, putting their money in only 60 deals. Last year, the top 10 investors in the country had put their money in 209 deals, according to the…
Demonetisation: India’s stone cutting SMEs hit, global diamond business loses sheen
The global diamond industry is facing disruption that could stretch through the first few months of next year, including Valentine’s Day in February, as a result of Prime Minister Narendra Modi’s radical move to abolish most of the nation’s cash overnight. In Surat, craftsmen us…
FreeCharge & Faasos tie up for e-wallet payment solution
Snapdeal owned digital payments platform FreeCharge said it has tied up with food-on-demand firm Faasos for e-wallet payment solution. FreeCharge currently provides e-payment facility to various food and beverages category players like foodpanda, Zomato, Swiggy, Freshmenu, Innerchef, Domino’…