They want GST roll-out to be delayed so that the MSME manufacturers can take details of the stock. Manufacturers of industrial goods, components and products such as pumpsets do not seem to be in a hurry to clear the stocks with them before GST is implemented. According to some of them here, the …
Better late than never: IT parks & start-up incubators may soon be a reality in Agra
Seventeen years after a plan to develop an Information Technology (IT) park in the City of Taj was made, the project may finally take off. Now, the Yogi Adityanath-led government in Uttar Pradesh is working towards establishment of IT parks and start-up incubators in major cities such as Agra, Me…
Zone Startups India joins country’s VC funding club
In what seems to be a slow but steady change in the investment tide for the start-up ecosystem, a slew of early-stage funds have been launched since the start of this year. The latest to join the club of new early-stage venture capital funds is private accelerator Zone Start-ups India. The Zone S…
Textile mills seek reduction of duty for man-made fibre & yarn to 12%
Textile mills in Tamil Nadu have appealed to the Union Government to bring down the GST rate for manmade fibre and yarn to 12 % from 18 %. About 430 mills recently sent their appeal to the Prime Minister’s Office in this regard, according to Prabhu Dhamodharan, Secretary of Indian Texpreneurs Fed…
Food start-up, wegan foods gets funded by her highness Sheikha Arwa Al Qassimi
Wegan Foods, a Mumbai based food startup has raised an undisclosed sum in funding from Her Highness Sheikha Arwa Al Qassimi, a member of the royal family of Sharjah and Ras Al Khaimah. Wegan Foods is soon to launch a range of healthy, dairy-free, pantry staples for the growing vegan communit…
GST Council gives relaxation of 2 months for filing of GST returns
India’s tryst with its most comprehensive indirect tax reform, the goods and services tax (GST), will begin on July 1. The GST Council, the apex decision body for the new tax, has stuck to the scheduled rollout. GST seeks to bundle state and central levies into one and create a seamless national …
How cloud telephony evolved as part of India’s start-up culture
It all began back in 2008, when Google stepped into cloud services and started hosting their services at very feasible prices to start-ups. This in turn, paved the way for many startups to adopt and render cloud based services at affordable prices to small medium enterprises (SMEs). That’s one of…
Essel Group Chairman Subhash Chandra voices SME concerns over GST
Adding heft to the rising concerns regarding the initial impact of the Goods and Services Tax (GST), especially in the SME (Small and Medium Enterprises) sector, Rajya Sabha MP and Essel Group Chairman Subhash Chandra on June 17 requested the government not to take any action for non-complia…
‘Another industry Amazon plans to crush is small-business lending’
Amazon will mark its 22nd year in business this summer. During this period, the e-commerce site has transformed retail. Today it announced the purchase of Whole Foods for $13.7 billion. The company took advantage of technology, used an aggressive growth strategy and disrupted the entire ind…
High GST rate may leave small synthetic fibre companies in tatters
Even as the date of GST implementation is nearing, threat of mass closure is looming on India’s small, non-integrated manmade fabric manufacturers. Under GST, manmade fibre yarn will be taxed at 18% while its end product, fabric, will be taxed at 5%. Tax differential leaves integrated textile fir…