The percentage of start-ups failing in Chennai is lower than in Bengaluru and the national capital region, considered to be the hubs for start-ups. Lakshmi Narayanan, Vice-Chairman of Cognizant, said “the percentage of start-ups funded by the Chennai Angels Network surviving beyond three years wa…
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13,500 MSME units set up in Odisha this year
The Odisha government has set up 13,500 MSME units generating employment for 42,190 persons by August this year, said an official on September 17. Micro, Small and Medium Enterprises Secretary L.N. Gupta informed that the department has set up 13,500 MSME units against the target of promoting 40,…
Haryana to give start-ups collateral-free loan up to Rs 1cr: CM Manohar Lal Khattar
The Chief Minister announced on September 17 Haryana’s golden jubilee year would be one of development and job creation and appeared determined to walk the talk by setting up a Rs 1,000-crore corpus for the industry sector, particularly medium and small-scale enterprises (MSME). He also sai…
MSME sector key to boosting exports: Nirmala Sitharaman
The government is looking towards small and medium enterprises (SMEs) for revival of exports, Commerce and Industry Minister Nirmala Sitharaman told in an interview. Asked whether she was worried about the dip in exports, Sitharaman said it was no longer a cause for worry. She said that the goal …
Govt making efforts for development of industries: Tomar
Recognising the importance of small scale industries in the growth of economy, the government is making all efforts for development of industries and giving them suitable environment, Union Minister Narendra Singh Tomar said. Speaking at a programme of Laghu Udyog Bharti, the Union Rural Developm…
60 Industries set up during present Govt in Haryana
About 60 large and medium industrial units have so far been set up in Haryana with an investment of Rs 2,437 crore during the tenure of present State Government. These units provide employment to 18,070 people. Also, about 8,077 Micro Small and Medium Enterprises (MSMEs) units have been set up wi…
MSEB rapped for disconnecting power of small industrial units
A consumer court in Thane has rapped the Maharashtra State Electricity Board (MSEB) for its deficient service, and asked it not to disconnect power supply to small scale units at an industrial estate in the city. It also directed the MSEB to pay the complainants small units Rs 3,000 each towards …
Here’s how small businesses can cash in on the Digital India initiative
The much-talked-about Digital India initiative promises to bring an e-revolution to the country. Launched last year, the government’s ambitious programme aims to take internet connectivity to the six lakh villages across India. Needless to say, if the plan succeeds, it will benefit many sections …
IFC to invest Rs 260 cr in microfinance institution Ujjivan
World Bank’s investment arm International Finance Corporation (IFC) has proposed to invest $40 million (approximately Rs 260 crore) into Ujjivan Financial Services, one of the leading microfinance institutions in India. Ujjivan Financial is among the 10 recipients of small finance bank (SFB) lice…
Goyal asks electrical equipment makers to ensure quality
Union Power Minister Piyush Goyal has asked electrical equipment manufacturers to ensure quality to face competition from China, Korea and other countries. The minister also sought support from Indian Electrical and Electronics Manufacturers Association (IEMMA) for “exposing those who use s…