Southeast Asian startup KFit Holdings expects to double its online-to-offline commerce business in 2017 following the recent acquisitions of Groupon’s Malaysian and Indonesian operations, its founder said. Backed by U.S. venture capital firm Sequoia Capital and Malaysian telecommunications group …
Centre grants Rs 200 cr for Tirupur dyeing units
The Centre has sanctioned Rs200 crores for Tirupur’s dyeing industry that was on the verge of closure due to severe financial crisis after making huge investments in the country’s first Zero Liquid Discharge projects for effluents. Tirupur is a hub of the textile processing and knitting industry …
Demonetisation: MSMEs braced for more challenges ahead
Cash-dependent Micro, Small and Medium Enterprises (MSMEs) across the country have borne the brunt of the ongoing demonetisation exercise. With about 86 per cent of the currency (high denomination Rs. 500 and Rs. 1,000 bank notes) in circulation being scrapped with effect from November 9, and the…
Mudra loan disbursement, solar charkha demonstration in Port Blair encourage SMEs
Port Blair: A Mudra loan distribution and solar charkha demonstration function was held in the Dr. BR Ambedkar auditorium in Port Blair. The Minister of State for Micro Small and Medium Enterprises, GoI, Giriraj Singh, currently on visit to the Islands distributed financial assistance under Mudra…
Needed, a comprehensive National MSME Policy | ASSOCHAM
The MSME sector contributes 8 per cent to the GDP, whilst employing more than 80 million people. Growth in micro and small enterprises has been consistent over the past five decades due to a combination of government support, implementation of technological enhancements, and support by the bankin…
Start-ups in India set to get Narendra Modi govt tax holiday booster shot
The government is considering a proposal to raise the tax holiday for start-ups from the current three years, aimed at further boosting an eco-system for budding entrepreneurs and job seekers, which could be announced in the coming Budget. Although the Department of Industrial Policy and Promotio…
VCs go back to basics, start-ups told to improve unit economics
After vying with each other to invest in start-ups at high valuations in the past few years, investors spent much of 2016 in cleaning up their portfolios, asking start-ups to reduce their cash burn, improve unit economics, and extend their runways (life). Several start-ups, which had no future, s…
HealthifyMe raises $1 mn from Dubai-based NB Ventures
Mobile health and fitness start-up HealthifyMe, run by Caeruz Ventures Pvt. Ltd, said that it has received $1 million in funding from Dubai-based venture capital fund, NB Ventures. This is an additional investment to the $6 million in Series A funding that the company raised in May from IDG Ventu…
Textile industry welcomes move on cotton purchase
The cotton textile industry in southern India has hailed Textile Minister Smriti Irani for announcing unique terms and conditions for procuring cotton from Cotton Corporation of India for the benefit of MSME textile units. Under the new terms and conditions for fully pressed bales of CCI facilita…
Kalraj Mishra allays fears of cash curb hitting MSMEs
Economic activities in the cash-driven informal sector may have been adversely affected by demonetisation, but the government does not foresee any major shrinkage in the overall production for FY17. “There might be some short-term contraction in production but as per the information given b…