Union Transport Minister Nitin Gadkari on August 31 said the government is seeking ways to increase India’s exports to the automotive global supply. It is also attempting to implement a scrapping policy for old vehicles to reduce vehicular pollution. “The automotive sector is on the road towards …
Apparel makers find a perfect fit in tech startups
There are many startups in the consumer retail space that help consumers buy the right apparel from them. But, beyond discovery and curation platforms in the fashion industry, startups like Stylumia and Threadsol are now helping brands, retailers and manufacturers make better business decisions a…
Chennai-based start-up Notion Press raises $1 million
Chennai-based start-up Notion Press has raised $1 million in pre-series A funding from a number of high net worth individuals. However, the company has not disclosed the investors’ names. Notion Press offers various publishing, book printing, distribution and marketing services to both auth…
MedPlus to set up 200 stores in tier II & III cities of TN
Pharmacy distributor MedPlus plans to set up 200 stores in tier II and III cities in Tamil Nadu over the next one year. “We are planning to reach out to the interior parts of Tamil Nadu and set up 200 franchise stores in the initial stage, in the next one year. We will be planning another […
Cabinet approves recent changes in FDI policy
Cabinet on August 31 gave its approval to the “radical” changes in the foreign direct investment regime that had sought to increased FDI to 100 percent in defence and liberalised the policy for several other sectors. On June 20, the government had “radically liberalised” t…
Microsoft India to focus on SME sector for growth, says Pramanik
The Microsoft India story began in 1990 and has grown steadily since then. Bhaskar Pramanik, who took charge as Chairman of Microsoft Corp. (India) Pvt. Ltd in 2011, is responsible for the company’s marketing, operations and business development efforts. In an interview, he reflects on Microsoft’…
US to bring SME best practices, tech to India; encourage start-ups
India and US decided to share best practices and technology in the Small and Medium Enterprises (SME) sector while the latter will bring its ‘Silicon Valley to India’ to encourage start-ups here. The two countries held their second Strategic and Commercial Dialogue (S&CD) in New D…
Ratan Tata, Nandan Nilekani to start micro-finance company
Ratan Tata, Chairman emeritus of Tata Sons, Vijay Kelkar, former Finance Secretary and Chairman of the National Institute of Public Finance and Policy, and Nandan Nilekani, Co-Founder of Infosys Ltd and the architect of Aadhaar, are joining hands to start a microfinance institution (MFI). Named A…
US-based online home-design startup Houzz sets up India ops
Online home-design startup Houzz has become the latest US-based internet major to set up India operations by appointing Sanjay Nadkarni as country head. Nadkarni, whose online babycare ecommerce startup Babyoye was acquired by diversified conglomerate Mahindra Group, joined Houzz few days ago. Ho…
MSE credit cover fund not self-sustaining: RBI
The Reserve Bank of India has cautioned the government that operations of one of the country’s largest credit guarantee funds, Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), is not self-sustaining. CGTMSE has given outstanding guarantees of `65,200 crore till Septembe…