India had its own 9/11, as it woke up to the demonetisation of high-value currency notes. It is arguably the boldest, newest, largest, riskiest and most influential reform since 1991. This exercise would cause inconvenience to everyone in the country in the short term but prove helpful in the med…
Back to square one: Funds drying up for start-ups
After two years of hyper growth fuelled by a funding boom, India’s startup sector is busy getting back to the basics. And as these enterprises get ready for the new year, the glass looks more half full than half empty compared with the year gone by. Data from startup researcher Tracxn show …
Assocham urges govt to ease cash limits for logistic fleet operators
As India Inc supports Prime Minister Narendra Modi’s battle against black money, the ASSOCHAM has urged the government to consider among other relief measures, increasing the cash withdrawal limits for logistic and transport fleet owners since they need hard cash for meeting expenses for crew mem…
5.3 lakh youth trained in textile sector in last 2 years: Govt
The government said it has trained over 5.3 lakh youth in textile trades over the past two years, particularly in garment segment. Of this, “more than 81 per cent of persons trained have been placed including 79 per cent of the trained women,” an achievement report prepared by the DIP…
Kerala govt permits Rs 85 cr for handloom sector to offer free uniform to students
The state government has approved Rs 85 crore in the first phase for production of 1.30 crore metre of Handloom cloth by State Industries to offer uniform free of cost to the government aided school students of class one to eight. Announcing this, new Industries Minister AC Moideen said that the …
Shopaholics throng India International Trade Fair in large numbers
Demonetisation has hit Delhiites hard, but has not stopped some of them from visiting the India International Trade Fair (IITF) at Pragati Maidan to explore unique trade and business opportunities. Driven by the Make in India initiative this year’s international trade fair has on display th…
Govt eyes niche markets to boost handloom, handicraft exports
Textiles Ministry is eyeing niche overseas markets to boost domestic handloom and handicraft exports as many global companies are willing to tie up with Indian weavers and artisans, a top official said today. “There is a huge scope for promoting Indian handloom and handicraft products in th…
Tamil Nadu’s handloom industry weaves its way around demonetisation to stay in business
For the first time in his 50 years as a silk handloom weaver in Kancheepuram, D Parthasarathy collected his wages from the bank. Last week, he took his friend along with him to help him withdraw money from the ATM. “I don’t know how to use the ATM, so I need to ask someone to […]
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Textile sector second largest job provider, says Make in India report
Textiles sector has emerged as the second largest job provider in the country, employing nearly 51 million people directly and 68 million indirectly in 2015-16, the Commerce Ministry report on Make in India achievement said. The textile sector accounts for 10 per cent of the country’s manuf…
Demonetisation Effect | Small entrepreneurs and retailers rush to sell online
Vimal Jain, a jewellery store owner, was desperate. The sales at his store, Shubham Jewellery, located in Bengaluru’s commercial hub Chickpet, had dropped by almost 70% since the government scrapped the Rs 500 and Rs 1,000 notes. Most of his transactions, which used to take place in cash, h…