Demonetisation in India — the world’s top producer and second largest exporter of cotton — is “temporarily exacerbating” global supply of the fibre and may prompt importers like Bangladesh to look for alternative sources to stock up immediately, US-based International Cotton Advisory Committee (I…
Indian start-ups are afraid of global competition: IAN Co-Founder
Indian start-ups that are playing up the ‘home-grown’ card and asking the government to shut down the doors for global companies like China, shows that the companies are just losing confidence, said Saurabh Srivastava, Chairman Emeritus at TiE Delhi. “I think, we are losing confidence ̷…
World Bank grants $5.19 mn for energy financing to MSMEs
New Delhi: World Bank will provide an additional USD 5.19 million grant to MSME industries in the country to help them adopt efficient energy means. Grant will be provided through World Bank’s International Bank for Reconstruction and Development (IBRD) arm. An agreement for Global Environm…
ah! Ventures launches marketplace to provide services for start-ups
Early stage venture capital firm ah! Ventures has launched a marketplace to provide startups services such as branding, legal advisory, finance, staffing and more. The ah! Marketplace connects startups with relevant service providers on the basis of a pre-decided package, the company said in a st…
Assam Industries & Commerce Minister urges MSME units to lay stress on quality products
Assam Industries & Commerce Minister Chandra Mohan Patowary urged all MSME units to put thrust on producing quality products. “Quality products alone will help MSME units to survive severe competition from global companies,” the Minister said while addressing a national workshop on ‘Lean Manu…
CBDT allays SMEs fear over reopening of past cases
The income tax department has sought to allay fears of companies, particularly those in the Small and Medium Enterprises (SMEs) sector, over reopening of earlier cases due to increased turnover reported in the current financial year because of digitisation. In a circular, the Central Board of Dir…
Govt efforts must for IPO aspiring SMEs: Agro Phos MD
Indore: You see there are more than 2.50 lakh registered SMEs in the country but only 150 units have entered the capital market. There are some potential SME units but they lack awareness. So, it is time for both the state and central governments to come forward and provide them support. These v…
Indifi Technologies, a start-up that helps SMEs secure loans, raised $10 mn
Indifi Technologies Pvt. Ltd, a start-up that helps small businesses secure loans, has raised $10 million in a series B round led by Omidyar Network, the investment firm started by eBay Founder Pierre Omidyar. Existing investors Accel Partners and Elevar Equity also participated in the round.Indi…
Facebook shortlists ed-tech start-up XPrep for FbStart programme
Tutor enablement platform XPrep, run by Epsilon Eduventures Pvt. Ltd, has been selected by Facebook Inc. for its FbStart programme. The programme, aimed at developers, is designed to help early-stage mobile-focused startups build and grow their apps. Under the programme, the company will receive …
Online marketplace for SME commerce OfBusiness raises another Rs 75 cr
OfBusiness, an online marketplace for Small-and-Medium (SME) commerce, has raised Rs 75 crore in its series B round of funding led by Zodius Capital, a growth-stage tech fund which has backed companies like Big Basket, Pepperfry and Zivame. This is the second fund-raise for the year-old startup a…