The Insolvency and Bankruptcy Board of India (IBBI) has notified provisions to expedite the resolution process of default cases of small companies and start-ups within 90 days, according to an official statement. Currently, the Insolvency and Bankruptcy Code (IBC), under which the IBBI was set up…
Reasons why MNCs buy companies in India
India has always been a land of opportunities, for its people and foreigners alike. Our country’s geographic location is one of prominence too, close to the markets of South East Asia, Middle East and also Europe making it a constant desirable center of commerce and trade. According to projection…
RBI working on co-origination model for MSMEs
The Reserve Bank of India is working towards a formal co-origination model to give a boost to the flow of credit to the Micro, Small and Medium Enterprises (MSME) sector, SS Mundra, Deputy Governor, said. A Co-Origination model is not about a bank financing a micro-finance institution (MFI) or no…
Assam govt to provide micro & small industries with special benefits in state industrial policy
Assam government will provide micro and small industries with special benefits in state industrial policy. The government is drafting revised industrial policy. Ravi Capoor, Additional Chief Secretary, Industries and Commerce while inaugurating Udyam – 2017, a five day industrial and business tra…
Haryana rolls out draft Aerospace & Defence policy; Aims to leverage MSMEs
The Haryana government has come out with a draft Aerospace and Defence Policy 2017 to provide investors in the sector with an “enabling business eco-system” in the state. The policy will also help Haryana in becoming a “thriving” aerospace and defence manufacturing hub, an…
Online to offline healthcare start-up HealthIntel raises growth capital
HealthIntel Services (HSPL), which uses a unique online-offline pharmacy model in Northern India, has raised an undisclosed growth capital from BLIP Initiatives. BLIP is a special purpose vehicle and a one-of-its kind accelerator that provides strategic tie-ups as well as funding support, with in…
IT Minister proposes special innovation zones to boost start-ups
At a meeting of the Indian technology industry’s stalwarts, the IT Minister Ravi Shankar Prasad called for greater cooperation between the government and industry and proposed setting up of special innovation zones to support start-ups better. The government estimates the digital economy to surpa…
NSDL e-Governance & Thomson Reuters ink pact to offer joint solution for GST
Thomson Reuters and NSDL e-Governance have joined hands to offer an integrated Goods and Service Tax (GST) proposition for large and mid-sized corporations in India. Based on a Memorandum of Understanding (MoU) signed on June 15, the solution will enable seamless calculation and filing of returns…
India’s GST launch spawns tech cottage industry for compliance
India’s new Goods and Services Tax (GST), its biggest tax reform since independence, will unify a $2 trillion economy into a single market – and demand massive changes for small businesses that will have to go online to file their taxes. Major software and service players, IT companie…
India climbs global innovation charts for 2nd year in a row
India continued to rise in the Global Innovation Index (GII) rankings for the second year in succession, after four consecutive years of decline. In this year’s rankings released on June 15 in Geneva, India improved its position from 66 to 60. Year 2016, it had improved from 81 to 66. Its improve…