Government issued guidelines related to setting up of the National Scheduled Caste and Scheduled Tribe Hub to provide professional support to entrepreneurs coming from such communities. “The scheme is proposed to be applicable from the date of sanction till March 31, 2020. Total project cos…
DBS Bank eyes Indian SME sector
Singapore-based DBS Bank hopes to increase its SME customer base by 30-40% in the current year with its new prodcut offerings. “In FY16, we have had a good growth in the SME segment including addition of a number of new clients availing our SME solutions. We grew our lending books by about …
Tea retail chain startup Chai Point set to introduce IoT-enabled tea dispensing machines
Tea retail chain startup Chai Point is set to introduce IoT-enabled tea dispensing machines to corporate offices as the next step towards serving its product to office employees. “The company already has about 1000 semi-automatic dispensers across 100 companies, and the new product, called boxC, …
Australia to share expertise in various fields with Haryana
Australia has agreed to share its expertise with Haryana in the field of agriculture, horticulture, dairy sector, infrastructure, smart cities and sports particularly in prevention and treatment of sports injuries. Australian High Commissioner to India, Harinder Sidhu, who called on Chief Ministe…
Pharma sector receives Rs 4,975-cr FDI in FY16: Govt
The drugs and pharmaceuticals sector has received Foreign Direct Investment (FDI) of Rs 4,975 crore in 2015-16, parliament was informed. “In the year 2014-15, FDI equity inflow of Rs 9,052 crore and in the year 2015-16, inflow of Rs 4,975 crore have been received in the drugs and pharmaceu…
DIPP to coordinate Amazon’s training programme launchpad for entrepreneurs
Ecommerce major Amazon will provide its “Launchpad” services to startups and train them in marketing products as part of government’s plan to bring its expertise to Indian startups. The Department of Industrial Policy and Promotion (DIPP) will act as a coordinator and help organ…
Myntra pips Snapdeal and Future Group, acquires Jabong for $70 million
Flipkart-owned Myntra on July 26 pipped Snapdeal and the Future Group to acquire rival Jabong in a $70-million all-cash deal that creates India’s largest online fashion destination, reduces discounts and strengthens the Bengaluru-based company’s prospects of keeping Amazon at bay in t…
Amplus Capital achieves first closure of second realty fund
Amplus Realty Fund – II, the second real estate focused fund of the Lalbhai Group-led Amplus Capital, has achieved first closure with total commitment of Rs 200 crore of the total targeted corpus of Rs 300 crore. The entire fund raising is expected to be wrapped up soon, the fund said in a …
FICCI plans industrial park for women entrepreneurs
According to Devika Ramesh, Chairperson of FLO Coimbatore chapter, land has been earmarked at industrial estates in Telangana, Gujarat, and Karnataka. In Assam, Haryana, Meghalaya, Punjab, Uttar Pradesh and West Bengal, the State Governments have agreed in principle to create industrial parks for…
Tamil Nadu should arrest decline in IT investments: Assocham
The Tamil Nadu government should arrest the decline in investments in the information technology (IT) sector in the state, industry body Assocham said on July 25. “The state government needs to arrest the continuous decline in the share of IT sector in investments attracted by Tamil Nadu by…