As India looks to grow at over 7% in the next two years, it will have to focus on sectors like tourism, retail, textile, leather and construction to create more jobs, said Richard Rekhy, Chief Executive Officer of KPMG India. As per government data, only 1,35,000 jobs were created till October la…
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Cauvery dispute hits MSMEs hard in K’taka & TN
The Cauvery dispute has crippled the small and medium industry in both Karnataka and Tamil Nadu. The current scenario has paralyzed units in Bengaluru as it is hub of IT Companies and houses headquarters of startups like Ola and many more. The violent agitationists have damaged the infrastructure…
Start-ups to see turnaround in 1-2 years: Gopalakrishnan
Funding challenges being faced by Indian start-ups is a “temporary phenomenon” and the sector is expected to turnaround in 1-2 years, IT industry veteran Senapathy Gopalakrishnan said. “A significant number of new companies are in the early stage. Funding is lot more challenging…
Three firms list on BSE’s SME platform; total crosses 150
The number of companies listed on the BSE’s small and medium enterprise (SME) platform today crossed the 150-mark with the listing of three more firms. The companies – Sprayking Agro Equipment Ltd, Narayani Steels Ltd and Riddhi Steel and Tube Ltd – got listed on the SME segment…
GST needs point-of-supply clarifications
With GST round the corner, companies are already reviewing and analysing the actual impact on their supply-chains. Unlike the existing regime, GST would be a destination-based consumption tax and the tax would accrue to the state where the goods/services are consumed. In this regard, the Model GS…
Sapphire Ventures closes $1 billion fund to back startups
Venture capital firm Sapphire Ventures has closed a $1 billion fund to invest in technology startups, becoming the latest investment firm to join a record-breaking clip of venture fundraising. Sapphire Ventures, which in 2011 spun out of technology firm SAP but still relies on that company as its…
PM Modi to attend MSME National Awards at Ludhiana on September 27
Prime Minister Narendra Modi will be the chief guest of the MSME national awards program to be held at Punjab Agricultural Univeristy, Ludhiana on 27th September. This was confirmed by Minister of State for Micro Small and Medium Enterprises (MSME) Giriraj Singh, who himself will visit Ludhiana o…
Microfinance industry clocked 60% growth in FY16
Country’s Microfinance industry pegged at Rs 63,853 crore in 2015-16, is posting a growth of 60 per cent year-on-year, said a report. The high growth rate continues, despite Bandhan, which was the largest MFI, becoming a bank, Sa-Dhan’s Bharat Microfinance Report-2016 said. “While as of March 201…
Smaller IT firms are yet to embrace disruptive tech
Bengaluru: From building intelligent platforms to finding smarter ways to analyse complex data, it is becoming clear that the secret sauce to make it big in the information technology (IT) world now lies in mastering all things digital. After the Y2K problem at the turn of the century, the curren…
The state of fintech startups in India
When China’s Alibaba opened its wallet last year to invest over half a billion dollars in Paytm, the world of financial technology took notice. However, beyond Paytm, there is a bunch of start-ups engaged in various aspects of fintech, a sector that has seen a funding slowdown this year. Here is …