Myntra said it recorded gross sales worth $1 billion on an annualised basis in July riding on the success of an aggressive end-of-season sale. The company, which also acquired rival Jabong last month, now controls over two-thirds of the online fashion market with parent Flipkart, which is widely …
French companies to pump in euro 8 bn in India
Bullish on India’s growth, major French companies will be investing about euro 8 billion in the country in next few years. “Leading French companies will invest some 8 billion euros in Indian market over the few years,” French Ambassador to India Alexandre Ziegler said on the si…
UK technology group keen to collaborate with Indian start-ups
Keen to collaborate with technology experts and start-ups in India, UK-based tech group Tech London Advocates (TLA) organised a workshop in Bengaluru on medical technology to detail how invention from the lab can be taken to global audiences through market collaboration. Members deliberated on pa…
North East sets up venture capital fund for startups
To encourage start-up ventures in the northeast region, the NEDFi in collaboration with the Ministry of DoNER, is setting up the “North East Venture Fund”, a dedicated venture capital fund for the region. The size of the fund would be Rs 100 crore which would be contributed by M-DoNER…
SME Business Confidence Index for India launched
SME Chamber of India (India’s leading National Premier Chamber) has collaborated with MRSS India Ltd. to launch a study to measure the ‘SME Business Confidence Index‘ for India. The research titled ‘SME CONFEX 2016‘ is the first sentiment measuring mechanism of its k…
Industry tie-up to facilitate listing of India’s SMEs and startups
The Metropolitan Stock Exchange of India (MSEI) and the SME Chamber of India have collaborated to provide a facility to help small and medium enterprises (SMEs) and startups access asset classes like currency derivatives, interest rate derivatives and listing. Under the initiative, SME Chamber wo…
Torrent loads Puro Wellness with Rs 250 cr
Ruchir Modi’s wellness startup Puro Wellness has raised Rs 250 crore from Torrent — the holding company of Gujarat-based conglomerate Torrent Group — in its pre-revenue stage. As per some investment banking executives, Torrent has taken a significant stake in Puro Wellness, which aims to de…
Kalraj Mishra bats for ‘Zero Effect, Zero Defect’ policy
Asserting that the ‘Zero Effect Zero Defect’ policy as enunciated by Prime Minister Narendra Modi has gained a lot of attention, Union Minister for Micro, Small and Medium Enterprises (MSME) Kalraj Mishra has said that the setting up of MSMEs is necessary for the overall progress of the country. …
India world’s third biggest tech startup hub: Study
India is home to the third largest number of technology driven startups in the world, with the US and the UK occupying the top two positions, according to a report. The study, done by Assocham in association with Thought Arbitrage Research Institute, also revealed that Bengaluru is host to the la…
Headhunters focus on smaller start-ups to beat hiring slump
Talent recruitment firms are scouting for business from smaller start-ups that have recently raised funds to fuel growth, diversifying away from larger consumer Internet clients that have frozen hiring amid a funding slowdown, industry executives said. Talent recruitment firms such as Wenger &…