The Tamil Nadu government will set up a multi-storeyed industrial complex at Tirumudivakkam on the outskirts of Chennai, at an estimated cost of Rs. 50 crore, Chief Minister Jayalalithaa said. In a series of suo-moto announcements in the Assembly, Jayalalithaa said the State had 12.94 lakh Micro,…
MSMEs need special banks for the sector, says GCCI
With the Centre formulating a new policy for Micro, Small and Medium Enterprises (MSMEs), the Gujarat Chamber of Commerce and Industry (GCCI) has sent a memorandum to the relevant government appointed committee highlighting requirements of the sector. A principal suggestion is to create special b…
Goa signs MoU with Google India to promote digital literacy
The Goa government signed a memorandum of understanding with Google India to promote digital literacy and drive the digital transformation in the state. Chief Minister Laxmikant Parsekar and Vice President, Google South East Asia and India Rajan Anandan signed the MoU here. “As a first step…
Tata Capital, CII partner to provide easy credit to SMEs
Tata Capital said it has signed a pact with industry body CII to provide easy credit to small and medium businesses. “Tata Capital, the financial services arm of the Tata Group, signed a MoU with Confederation of Indian Industry (CII) to partner with them in the SME Finance Facilitation Cen…
RBI highlights steps for growth of entrepreneurship & reduce start-up mortality
In a bid to make work environment more start-up friendly and ease regulations, the Reserve Bank of India has said that it will soon consult with the Centre and implement the recently announced proposals on start-ups. This includes permitting start-ups to access rupee loans under the External Comm…
MSMEs can gain from ploughing back profits
Micro, Small, and Medium Enterprises (MSMEs) which plough back profits into the business tend to grow faster, compared with peers that don’t. CRISIL’s analysis of 3,000 rated MSMEs registered as proprietorships and partnership firms shows that 41 per cent had retained profits in 2014-…
Paytm to start scholarship programme for engineers enrolled on startup village
Come January, mobile payments and commerce platform Paytm will offer a #StartInCollege scholarship programme to engineering students who have enrolled on digital incubator startup village or SV.CO’s website. The #StartInCollege programme will select students as teams from engineering colleg…
New incentives for garment exporters from Sep 20
In order to boost garment exports, the revenue department has started the process to operationalise the Rs 5,500-crore ROSL scheme from September 20, under which exporters will be compensated for state levies. Presently, exporters get only duty drawback on the central levies imposed during the pr…
With Israel trade talks, startups to make a debut in India’s FTAs
Startups may be set to debut in India’s free trade agreements. In trade pact talks with Israel, India has expressed interest in the transfer of knowhow from that country’s defence and security startups. “Israel is very keen to have a trading arrangement with us,” said a Co…
SBricks pays $1 million for HomeCues
Facility management and home services startup SBricks has acquired home services aggregator HomeCues for more than $1million. While HomeCues will be a subsidiary company of SBricks, it will continue to operate under its original name and the two companies will split their focus into business-to-c…