Despite being labelled most backward state in the country, Bihar has the maximum number of MSMEs in the country. This fact was revealed by MSME Minister Kalraj Mishra in Lok Sabha on July 25. Replying to a question of Om Prakash Yadav, BJP MP from Siwan, Bihar, Mishra revealed that the number of …
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BIBA to promote India Handloom Brand
The Ministry of Textiles has joined hands with the ethnic apparel brand BIBA and has launched India Handloom Brand garments at BIBA’s flagship store at Lajpat Nagar, New Delhi. Speaking at the launch function, the Union Textiles Minister Smriti Zubin Irani said that the Ministry of Textiles is fo…
Auto Component SMEs should diversify for speedy growth : CRISIL
Diversification in terms of customers, geography and products is a differentiator for Micro, Small and Medium Enterprises (MSMEs) in the auto component industry, an analysis of 300 such units rated by CRISIL has revealed. The industry has seen a slowdown in revenue growth over the past four finan…
UK to invest £160 mn in 75 start-up enterprises
British Prime Minister Theresa May announced that the UK will invest 160 million pound (about Rs 1,330 crore) across 75 start-up enterprises that will help generate new jobs. She also announced an additional 20 million pound for a Start-Up India Venture Capital Fund. The fund will support 30 ente…
‘Bengal Home Industries’ celebrates 100 yrs by introducing online store
Keeping pace with the changing times, the 100-year-old Bengal Home Industries Association, which promotes Bengals handloom and handicraft items, will introduce online shopping from next year. Set up by a group of patriotic citizens of Bengal in 1916 to encourage Indian weavers and craftsmen to ma…
India Inc optimistic about rise in exports: Survey
Assurance, tax and advisory firm Grant Thornton’s business confidence report has revealed that policy reforms and the upcoming implementation of the Goods and Services Tax (GST) has buoyed India Inc’s hopes of a rise in exports during the coming quarters. According to the latest Grant…
To promote skill development, Eli India ties up with Nasscom
Eli India, a part of diversified information and financial services group Eli Global, has partnered with Nasscom to promote skill development in the country. The tie-up between Nasscom and Eli India is calculated to make individuals more productive and proficient by imparting formal training, whi…
Indonesian start up Go-Jek acquires 3 Indian start-ups, eyes more
Backed by Sequoia Capital and Yuri Milner’s DST Global, Go-Jek is the first unicorn in Indonesia. The Indonesian startup, which was founded in 2010, has acquired 3 start-ups in India since the beginning of 2015.Go-Jek has plans to acquire more startups in the devOps and mobile engineering s…
Avg size of start-up funding up 27% to Rs 4.6 cr: Report
The average size of funding received by start-ups from angel investors grew 27 per cent to Rs 4.67 crore in 2015, from Rs 1.06 crore in 2009, a report said. Also, the average investments made by these angel investors individually saw an annual growth rate of 34 per cent from Rs 0.21 crore in 2009…
Govt working on a policy for e-pharmacy start-ups
The government is working on a policy governing the sale of medicines online by start-ups such as 1mg.com, Bookmeds, mChemist, Medidart, Medlife, Medstar, Netmeds, Pharmeasy and Zigy.com that have disrupted the brick and mortar model. This comes as chemists plan a one-day shutdown of their shops …