GE Healthcare, the USD 18-billion healthcare technology unit of GE, has announced USD 50-million funding aimed at improving services of healthcare startups in developing countries. GE Healthcare has set up an accelerator — five.eight — that will work with global health startups workin…
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SME body demands separate Ministry in states for sector
Vadodara: An industry body of Micro and Small enterprises has sought for a separate ministry in states to address issues related to sector. The annual general meeting of the Laghu Udhyog Bharti (LUB) will be held on September 25 wherein issues related to the national MSME policy, GST and FDI will…
Tata Tele sees more business opportunities in SME segment
Tata Teleservices sees bright opportunities in SME enterprise solutions (ICT offerings), with the potential to nearly double its growth trajectory to 25-30 per cent in the coming years. The optimism for such high growth curve stems from the huge headroom available for growth in the Small and Medi…
Indus Net Tech to set up start-up incubation labs
Digital solutions provider Indus Net Technologies would open an incubation lab in its premises at Salt Lake electronics complex here for nurturing and mentoring startups, one of its top official has said. “We are launching the Indus Net Labs with the aim to mentor and guide start-ups having…
GST council sets exemption threshold for tax at Rs. 20 lakh
Giving relief to small businesses, the Goods & Services Tax (GST) Council has decided that threshold for exemption for businesses would be an annual turnover of Rs. 20 lakh, while the businesses in the Northeastern and hill states with annual turnover below Rs. 10 lakh would be out of the GST…
B2B e-Commerce platforms reduce inventory costs by 40% for SMEs
B2B e-commerce platforms inventory management services is gaining popularity among small and medium enterprises (SMEs). This has resulted in reducing inventory costs by 40 per cent for SMEs. SMEs who would earlier procure raw material from various sources and stock it for one month to three month…
Enhance credit absorption capacity of weaker sections, RBI tells financial intermediaries
The Reserve Bank of India wants financial intermediaries such as banks and non-banking finance companies to focus on a ‘3x3x3’ matrix so that small and marginal farmers, micro and small enterprises (MSEs), and low-income earners in the unorganised sector are financially included. Speaking at a BR…
TN & Telangana to come up with entrepreneurship development centres
In a move to harness the skills of entrepreneurs, Tamil Nadu as well as Telangana governments would soon set up entrepreneurial development centres in the two states. The second such facility to come up in Tamil Nadu, a centre at Coimbatore would be set-up at an outlay of Rs. 2 crore, an official…
Interest of small businesses protected: GST Panel Chief Amit Mitra
With the Centre and states agreeing to keep traders with turnover of up to Rs 20 lakh out of the GST ambit, interest of small traders has been protected, West Bengal Finance Minister Amit Mitra said on September 23. Hailing the decisions reached at the first meeting of GST Council, he said more t…
Textile Ministry plans to promote handicrafts, tribal communities: Smriti Irani
The government, through convergence of various ministries, is working on a plan to promote tribal, handicrafts community and fill the various gaps, Union Textile Minister Smriti Irani said at an ASSOCHAM event held in New Delhi on September 23. “I had a meeting three days ago with the minister in…