The Cabinet has given its nod to a Bill that will give the government the right to impose VAT on Petrol and Diesel on percentage basis or per litre basis. That will insulate the VAT revenue from fluctuations in price of fuels and ensure fixed revenue. Presently, the tax is imposed on percentage b…
Companies, Finance & Markets
Vodafone business services bet big on SMEs in Punjab
Reiterating its commitment to the Governments vision of Digital India and Make in India, Vodafone Business Services (VBS), the enterprise arm of Vodafone India, unveiled its growth strategy to double its Channel partners and target of the Small & Medium Business segment (SME) in India and spe…
Ganga Pharma confident of reaching turnover of Rs 70 crore
The first listed Pharma company to get listed on BSE-SME, Mumbai based Ganga Pharmaceuticals Limited is confident of increasing its yearly turnover from Rs 3 crore to Rs 70 crores by 2020. Ganga Pharma is the first SME Pharma company in the country to get listed on the SME platform of BSE. Shares…
Leading stock exchanges differ on SME trading lots
The country’s two leading stock exchanges — the Bombay Stock Exchange and the National Stock Exchange — are unable to form a consensus on the issue of minimum trading lot size for the platform they have created for Small and Medium Enterprises (SMEs). Currently, the minimum lot size for the SME s…
China’s Apus Group to invest Rs 100 cr in Indian startups
China’s Apus Group, one of the world’s biggest Android application development companies, plans to invest Rs 100 crore in early-stage Indian startups with an aim to create up to 500 jobs in the next three years. The company aims to increase the number of Apus users in India to 80 mill…
Cloud computing major DigitalOcean to set up first data centre in India
DigitalOcean, the world’s second-largest cloud computing provider, will set up its first India data centre in Bengaluru, in the April–June quarter of 2016. The New York-headquartered firm, which is setting up shop in India, will invest $5 million in the data centre in Electronics City and is look…
Ajay Piramal spots value in Venture Capital Investing
The family office of Ajay Piramal is stepping into venture capital investing to get a slice of the fast-growing entrepreneurial ecosystem in the country. Known as being one of the savviest value investors in India Inc, Piramal is backing the newly floated Montane Ventures, an early-stage fund, as…
Orissa asks banks to cover Gram Panchayats
The Odisha government on February 22 asked nationalized banks to cover all unbanked panchayats in the state either by way of establishing branches or through banking correspondents as almost 75 per cent of the panchayats across the state do not have banks. The fact that credit flow had also come …
New Delhi, Karnataka, Maharashtra and Tamil Nadu SMEs stoke demand for B2B products
The rise in demand for B2B products showcases a ‘Paradigm Shift’ in procurement channels employed by SMEs and large corporations. With increased focus on logistics and time bound delivery services, online B2B e-commerce companies establishing themselves as reliable and authentic sourc…
SIDBI okays Rs 600 crore under India Aspiration Fund
The Small Industries Development Bank of India (SIDBI) has approved Rs 600 crore under the India Aspiration Fund so far, said the Joint Secretary and Chief Vigilance Officer, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Shailendra Singh on February 21 Singh pa…