Mumbai: Are fears of a slump in startup investments overplayed? That seems to be the case as funding commitment – from investors to venture capital funds has octupled to Rs 9,469 crore between October 2015 and September 2016 vis-a-vis Rs 984.81 crore in the corresponding months of the previ…
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Focus on home, world does not need another low-cost exporter
Globalisation has been on the ascent since the collapse of the Berlin Wall, with the free flow of trade and capital benefiting both the developing and the developed world. India has more than tripled its per capita income since joining the global economy in 1991. Within a decade and a half of joi…
India’s poker start-ups industry worth $120 mn slowly becoming a profit-making model
Bengaluru: Rahul, an analyst with an international gaming company, spends up to eight hours every day playing poker online, often making up to Rs 10,000 within 15 minutes. Of course, he does lose money as well, but the initial wins make for a heady rush. “I got introduced to the game almost…
Make ‘tatkal’ e-payments for rail tickets now with MobiKwik
Mobile payments network MobiKwik has partnered Indian Railway Catering and Tourism Corporation (IRCTC) to launch e-cash payments for tatkal bookings. “MobiKwik collaborated with Indian Railways to digitise payments on the IRCTC app and IRCTC FoodOnTrack app this year, and now we are powerin…
Council fixes 4-level GST rate structure
The Goods and Services Tax (GST) will be levied at multiple rates ranging from 0 per cent to 28 per cent. Ultra luxuries, demerit and sin goods, will attract a cess for a period of five years on top of the 28 per cent GST. Overcoming opposition from some States, the GST Council finalised on [&hel…
Coal allocation to MSMEs to be made Online
In a significant development related to the allocation of coal to Micro, Medium and Small Enterprises (MSME), the Andhra Pradesh Government has decided to migrate to an online system through its Single Desk Portal (SDP) to consolidate its standing in the ease-of-doing-business indicators. As per …
RK University inks MoU with GoI’s MSME centre
Rajkot: City-based RK University has signed a memorandum of understanding (MoU) with Micro, Small and Medium Enterprises MSME Technology Development Centre of the Government of India, to initiate joint programmes in various fields. “The aim of the MoU is to undertake various initiatives to …
Boost to exports: Duty drawback facility extended for textiles
The government has extended duty drawback facility for one year on all textile products to boost exports, and has increased rates in some cases for the benefit of Indian exporters. In a notification dated November 1, the Central Board of Excise and Customs (CBEC) extended the duty drawback benefi…
Act smart! There are enough funding options for your start-up
The Securities and Exchange Board of India (SEBI) recently warned investors about the legality of crowdfunding. “Electronic platforms facilitating fundraising on digital platforms are neither authorised nor recognised under any law governing the securities market,” said the SEBI note.…
Start-up Europe India Network will help in cross-fertilisation of talent: EU
The Start-up Europe India Network will help cross-fertilisation of talent between the growing Indian market and the dynamic European market, European Union’s Ambassador to India Tomasz Kozlowski tells in an interview. Edited excerpts: Q: What is the EU’s role in this mega India-Europe startup ini…