2016 was a year of rationalisation for Indian startup sector as most big investors spent cautiously unlike in 2014 and 2015 when it saw a new high in terms of irrational investments. In 2016, companies in sectors such as food-tech and hyperlocal logistics who were sustaining operations on externa…
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Indian start-ups raised $84 mn last week
Funding street was abuzz last week for the startup ecosystem. 14 startups have garnered $84 million in angel/seed and venture capital funding, versus the $33 million raised the week before by 12 startups. The Delhi-NCR region also pipped Bengaluru to lead all the funding activity. The big ticket-…
Cabinet approves creation of Indian Enterprise Development Service (IEDS)
The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval to the Cadre review and formation of a new service in the name of Índian Enterprise Development Service (IEDS)’ in the Office of Development Commissioner (MSME), Ministry of Micro, Small and Medium Enterprises (M…
Smriti Irani unveils ‘E Dhaga’ app for Indian weavers
The ‘E Dhaga’ mobile application developed by the National Handloom Development Corporation (NHDC) to let weavers know about the availability of raw material or delays in supply has been launched by the Union Textiles Minister Smriti Irani. Currently available in Hindi, English and Telugu, the ap…
WB seeks review of measures to boost entrepreneurship
Kolkata: Starting an outcome audit of sorts, West Bengal Chief Minister Mamata Banerjee has begun to question the impact of initiatives taken by her government to promote the state as business-friendly. She has asked the micro, small and medium enterprises (MSME) department to explain how …
Digital push to help small traders save up to 46% in tax: Govt
Government on December 20 said small traders will be able to save up to 46 per cent in tax by migrating from cash to digital transaction mode, as the decision to tweak the presumptive income norms would reduce tax liability. “Apart from making tax saving of up to 46 per cent by migrating to digit…
Level playing field for Indian & foreign start-ups: Karnataka IT Minister
Karnataka IT Minister Priyank Kharge said the government provides equal opportunity to all startups, and there is a level playing field for Indian and foreign startups alike. Commenting on the lack of a level playing field for Indian startups, Kharge said, “Nothing is preventing any Indian startu…
Govt to start Digital Village programme soon
Government will soon launch a new programme, Digital Village, to provide services like health and education in villages with the help of technology. The programme would be rolled out in 100 villages initially and will be expanded later, Law and IT Minister Ravi Shankar Prasad said. “We are …
Undue fees can be the real barrier for start-ups: Google’s Kent Walker
The government should take a more studied step while imposing additional levies, especially on startups, said Kent Walker, Senior VP, Google. He said since margins for small businesses are thin, the imposition of “undue” fees can be a real barrier for them. His comments come at a time when the go…
Textile mill body to train 50k fresh workers during 2017
Indian Texpreneurs Federation (ITF), an apex body of textiles mills in the region, has signed an MOU with National Skill Development Council (NSDC), to train 50,000 fresh workers in 15 job roles during 2017. As per the MoU, ITF member mills will train the fresh workers from January 2017 to Decemb…