The Centre, in collaboration with State governments, plans to introduce a ‘One India’ concept, the biggest and the most comprehensive ‘ease of doing business’ initiative so far. Under the ‘one-form-one-portal’ model, aimed at attracting huge investments, the processes will be simplified to an ext…
SME scale IBEE Hosting gets $1 mn
IBEE Hosting will receive funding of 1 million dollars from investors XBT Holding to be spent across 3 years. The company will be spending these funds primarily for the development of their products and services and then for marketing activities. IBEE Hosting is a provider of enterprise dedicated…
Jute industry seeks continued protection
The jute industry stressed on the importance of continuation of the protection extended through the mandatory Packaging Control Act at a meeting where the industry’s “over dependence on one product and a single-customer” also figured on the agenda. The meeting was chaired by the Union Textile Min…
FM calls on private sector to invest, cites low cost of capital
With private investment playing catch-up, Finance Minister Arun Jaitley asked the private sector to loosen its purse strings to make the most of the demand uptick following a good monsoon and softer rates due to controlled inflation. India became the world’s largest fastest-growing major economy…
Food-tech start-up Box8 raises Rs50 cr
Food technology start-up Box8 (Poncho Hospitality Pvt. Ltd) has raised Rs50 crore ($7.5 million) in a Series B funding round led by IIFL Seed Ventures Fund, a unit of IIFL Holdings Ltd, and existing investor Mayfield Fund, said two people aware of the development. Box8 was started by Indian Insti…
Amazon & Flipkart planning offline stores in smaller towns
E-commerce companies in India are exploring the idea of setting up offline stores in smaller towns as they look to grow their customer base and improve logistics in the unmapped areas. Rather than investing in their own stores, e-commerce marketplaces are partnering with local merchants who can a…
Govt recommends 5-20% anti-dumping duty on jute
Commerce Ministry arm DGAD has recommended anti-dumping duty of 5-20 per cent on jute and jute products to protect the domestic industry. The recommendations of the Directorate General of Anti-Dumping and Allied Duties (DGAD) would require Finance Ministry’s nod before the anti-dumping duty…
Six start-ups awarded at Vibrant Gujarat’s Start-up Grand Challenge
Ahmedabad: Government of Gujarat awarded six startups as it concluded the two-day Vibrant Gujarat Startup Summit with learning not only for the Startups participating from across the country but also for industry leaders, policy makers, investors, venture capitalists as well as students that plan…
Patanjali to expand into textiles next year
Indore: Renowned yoga guru Baba Ramdev’s Patanjali Group, after a successful stint in ayurvedic medicines and food processing, is eyeing to debut into textiles from Madhya Pradesh. The yoga guru announced on October 22 that Patanjali brand will enter into textiles and dairy sectors in a big…
GHCL to invest Rs 67.25 cr in textile division
Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its textile division comprising yarn and home textiles. The amount will be used for purchasing machines in yarn division, setting up a windmill project, buying looms and increasing processing capacity. For July-September 2016, GHCL…