The Commerce and Industry Ministry is looking to engage consultants to promote the government’s Start-up India campaign for budding entrepreneurs. The Department of Industrial Policy and Promotion (DIPP), under the ministry, has issued an advertisement for engaging a senior consultant and t…
Dutch retailers paying ‘starvation wages’ to Indian textile workers: Report
Dutch fashion retailers are paying ‘starvation wages’ at factories in a major hub for the global garment industry in Karnataka, forcing many workers into crippling debt, a report showed. Workers surveyed at 10 garment factories in and around Bengaluru took home on average €90 ($100) a month, and …
German bicycle rental startup Nextbike seals JV with Chartered Speed
German bicycle rental startup Nextbike has sealed an exclusive joint venture with Ahmadabad-based transport startup Chartered Speed to launch digital cycle sharing services in about 100 Indian cities. “The operations will be started from Bhopal with 500 bicycles and will be app-based, backed stro…
Mahindra Univeg acquires minority stake in agri startup MeraKisan
Mahindra Univeg, a JV firm between Mahindra Agri Solutions and Belgium’s Univeg, announced that they have acquired minority shareholding of 33 per cent in agri startup firm MeraKisan. The financial details of the deal were not disclosed. MeraKisan’s business model augments disintermed…
Govt likely to provide benefits to jute industry
As part of efforts to support the jute sector, the government is likely to make use of jute bags mandatory in packaging of food grains and sugar of specified quantities for the 2016-17. The Textiles Ministry has sought the Cabinet approval for its proposal to make it mandatory to package 90 per c…
Growing demand for electronics products make a strong case for Make in India
Robust growth in demand for electronics products in India and growing labour cost in established manufacturing hubs of the world make for a compelling case for global electronics maker to move production to India, especially for products consumed in the country. However, lack of manufacturing eco…
Denim industry faces investment drought
The Rs 30,000 crore Indian denim industry is likely to face a shortage of fresh investment in the next five years with around 30 per cent of capacity remaining idle for years. Over the last five years, India’s denim makers have more than doubled capacity to 1.3 billion meters a year because of an…
STPI to get into angel funding for IT, electronics start-ups
Software Technology Parks of India (STPI) is planning to float a special purpose vehicle (SPV) to provide angel funding to IT and electronics start-ups in the country with the help of financial institutions. The STPI, the single-window facility for software exporters from the country, has been ch…
Why e-Commerce is a unique solution to connect SMEs in today’s technologically advanced world
Small and Medium Enterprises has been the backbone of the Indian economy since quite a while. It has stepped out in a totally new era of development after the Digital India launch by PM Narendra Modi. At present SMEs are contributing almost 37.54 percent to the economy as a sector and it also pro…
NIIT acquires business of ed-tech startup Perceptron
Learning solutions provider NIIT has acquired the business of Bangalore based start-up Perceptron Learning in a bid to accelerate its digital transformation initiatives – StackRoute, digiNxt, and Training.com. It also announced the appointment of Satish Sukumar, Co-Founder and Chief Executive (…