Export-Import Bank of India (Exim Bank) is working overtime to launch export facilitation portal by October with an aim to promote exports by small units. “We are now making an attempt to reach out to a larger community and get them to consider to export after ease of export following initi…
India moves to get a grip on e-Commerce issues at WTO
India is trying to comprehend issues pertaining to e-commerce with a view to taking a position in global trade negotiations at the World Trade Organisation (WTO). The Commerce Ministry is looking and analysing at all the papers being submitted by the US at WTO on the matter to understand the view…
Healthcare start-ups fail to attract fresh funds
Healthcare start-ups in the country are struggling to raise fresh funds. According to the data released by VCCEdge, the financial data platform of News Corp VCCircle, from January to August 2016, healthcare start-ups have managed to raise only $397.41 million. Compared to this, in CY 2015, the se…
Govt creating single window clearance for hospitality: Maha Tourism Minister
The Maharashtra government is in the process of creating a single window clearance mechanism for the hospitality industry, to promote the restaurant and food services business in the state. “The Department of Tourism of Maharashtra government is in the process of creating a single window cl…
34 start-ups avail rebate on patent fee: DIPP
As many as 34 startups have so far availed the benefits under a government scheme to obtain patents with 80 percent fee rebate, the Department of Industrial Policy and Promotion (DIPP) said. A professional body under the DIPP, Cell for IPR Promotion and Management (CIPAM) in a tweet asked other s…
NXP India hopes 10-fold growth in contribution from start-ups
Dutch electronic chip firm NXP expects contribution of start-ups to its Indian business to grow 10 times in the next three years under its new strategy to push innovation in the country. “As per the Innovate India approach, we will have various things from our side from time to time. We can…
GVA helps Indian start-ups into Russia as both countries boost business
Global Venture Alliance (GVA), a Moscow-headquartered provider of business services, training programmes and seed funding for startups, has teamed up with the Society for Innovation and Entrepreneurship (SINE), a major tech business incubator based in Mumbai, and launched the ‘India-Russia Bridge…
Swiggy raises $15 mn in Series D round led by Bessemer
Online food delivery start-up Swiggy, owned by Bundl Technologies Pvt. Ltd, has raised $15 million in a Series D round of funding from Bessemer Venture Partners and existing investors Accel Partners, SAIF Partners, Norwest Venture Partners and Apoletto Asia, the company said in a statement on Sep…
LEAF raises Series B funding from Bestseller Foundation, Unitus Impact
Lawrencedale Agro Processing Pvt. Ltd (LEAF) said it has secured investment in a Series B round from US-based venture capital fund Unitus Impact and Denmark-based Bestseller Foundation. The Ooty-based start-up, backed by the investment arm of Soros Economic Development Fund, did not disclose the …
SBI diktat to affect credit to small, medium-sized firms
The directive of the State Bank of India (SBI) to all associate banks that any credit proposal for above Rs.10 crore has to receive an approval of the Mumbai office of the SBI is likely to impact flow of funds to Micro, Small and Medium Enterprises (MSMEs). This has been sent as an advisory to [&…