BigBasket plans to invest up to Rs 90 crore to recruit hundreds more farmers to its network, beefing up its supply chain ahead of a potential entry of deep-pocketed global corporations including Walmart and Amazon into India’s online grocery market. The investment, which follows a $150 mill…
Textile sector MSMEs welcome Smriti Irani with high hopes
After announcement of special package by Government of India, Textile industry looks at appointment of high profile Smriti Irani as Textile Minister with high hopes. Industry sources are looking forward to Irani to driving growth and achieving the export target of $300 billion by 2024-25. Accordi…
Exporters too can give Made-in-India tag
A section of Indian exporters will be able to certify goods headed for Europe from 2017 to the effect that they were made in India, a measure that will help reduce processing time as well as costs. This facility will be available to traders exporting goods under the European Union’s special…
After textiles, Niti Aayog for reforms in other job-intensive sectors
In the wake of the Cabinet clearing a Rs 6,000-crore package for the textiles sector recently, NITI Aayog is pushing for similar reforms in other labour-intensive sectors such as footwear, electrical and electronics engineering, besides light manufacturing segments such as umbrella, cutlery and f…
Quality, organic and indigenous products sales driving the business growth for Patanjali Ayurved Ltd: Ken Research
In the FMCG market, the Q4 results for FY’2015-2016 indicate that sales volume is not growing as rapidly as expected. The growth margins have diminished and have taken a toll on all major companies. HUL’s revenue growth has been consistently falling in the past seven quarters from 13.2% in quarte…
WhatsApp Co-Founder invests in India-bound Trak N Tell
Gurgaon-based car tracking telematics solutions startup, Trak N Tell, has raised an undisclosed sum of funding from a group of investors, led by WhatsApp Co-Founder Brian Acton. While the terms of the Series-A round were not disclosed, Acton, along with two other investors, whose names have also …
Freecharge to take on Paytm on taxi fare payments
While ride hailing services Ola (ANI Technologies Pvt. Ltd) and Uber Inc. strive for a pole position in the domestic ride hailing market, there is another battle silently brewing among wallet and payment service providers Paytm (One97 Communication Pvt. Ltd) and Freecharge to make the most of the…
Purplle to close $6 million Series-B round
Purplle, an IvyCap Venture-backed online marketplace for beauty products and spa and salon services, is closing a Series-B round of around $6 million with participation from JSW Ventures, existing investors and another investor who’s likely to join in. The company will use some part of the …
Start-ups set to reach new peaks: IT Secretary
Start-ups in India are set to scale new peaks going forward, according to Jayesh Ranjan, Secretary, Information Technology and Communications, Government of Telangana. He was speaking at the second convocation of Woxsen School of Business held here on July 9. The world of start-ups is becoming yo…
Gupshup to launch bots to customise workflow for SMEs
Bot builder platform Gupshup plans to introduce templatised bots in a bid to make them accessible to small and medium businesses. A bot is a software application that can run automated tasks on the Internet. They are being deployed by businesses to replace basic customer interactions. Over the ne…