Demonetisation and its impact on India’s economy have been discussed in detail since 8 November, the day PM Modi made the shock announcement by invalidating over 80 percent of Indian currency. Based on their political affiliations, economists have differed widely on the impact of this step but mo…
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‘Equalisation Levy’ to create a huge problem for start-ups: Tax lawyer Nishith Desai
As part of the continuing opposition from industry bodies to the ‘Equalisation Levy’ that came into effect earlier this year, the Internet and Mobile Association of India (IAMAI) and law firm Nishith Desai Associates, in a white paper released on Tuesday, said the measure would hurt Indian startu…
Startup India, a work-in-progress: DIPP Secy
A year after the Startup India Action Plan was unveiled by the Prime Minister the Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek called it a “work-in-progress”. Recounting the initiatives taken by the DIPP to provide structure to the developing startup …
Govt working on ways to let companies start business in 4 days flat
Aiming to break into top 50 best countries to do business in, the government has identified areas requiring doing away with complex rules and simplifying procedures to enable businesses to start in four days flat. With India ranked poorly at 130th among 190 nations on the World Bank’s Ease …
Industry stalwarts launch a platform to enable companies achieve scale
The Growth Labs believes that any business can be grown multi-fold with the right strategy and execution. Brings the power of experience from industry leaders. The platform launched by ex Group-COO of Network 18, Alok Agrawal and entrepreneurship maven and Applyifi founder, Prajakt Raut brings to…
B2B start-ups raise $98 mn across 30 deals so far this year
Earlier this year, three former executives from Flipkart Ltd, India’s most valuable e-commerce firm, launched Udaan, an online marketplace connecting manufacturers, wholesalers, traders and retailers. In November, Udaan.com raised $10 million in Series A funding from Lightspeed Venture Partners I…
Less tax for small traders on digital transactions: Arun Jaitley
Small traders and businesses with a turnover of up to Rs 2 crore will pay less tax if they accept payments through banking and digital means, Finance Minister Arun Jaitley said on December 19. He said in the budget for 2016-17 that small traders and businessmen with turnover of up to Rs 2 crore w…
Pan-IIT Alumni India to set up Rs 1k cr fund for start-up ecosystem
Pan-IIT Alumni India, the alumni body of the Indian Institutes of Technology, is working on setting up a Rs.1,000 crore venture capital fund to focus on social impact enterprises and the startup ecosystem. This will be the first such VC fund by the association. The group will raise the fund throu…
Prime Minister unveils first ever ‘Indian Institute of Skills’ at Kanpur
In line with the vision of making India the Skill Capital of the World by empowering its youth to be more employable and self-sustainable, the Prime Minister today laid the foundation stone of the first ever “Indian Institute of Skills” in the country at Kanpur. The Institute has been conceptual…
Demonetisation: UP MSMEs bracing up for ‘less-cash’ biz environment
In the backdrop of demonetisation and its after effects still playing out for different sectors — the Micro, Small and Medium Enterprises (MSME) — in Uttar Pradesh are now bracing for a less-cash’ and more ‘digital’ business environment being talked about by the Narendra Modi g…