The Odisha government has set a target to scale up its exports to Rs 21,559 crore in the current financial year, said an official on September 9. The state government had recorded exports of Rs 17,346 crore in the 2015-16 fiscal. The government has also decided to set up export promotion councils…
News
Sunil Munjal, Harsh Mariwala lead Rs 82 crore funding round in Nykaa
Nykaa.com, an online luxury beauty retailer founded by investment banker-turned entrepreneur Falguni Nayar, has raised Rs 82 crore in a fresh round of fundraising led by Sunil Munjal and the Mariwala family, cementing interest from affluent Indian families in a rapidly growing ecommerce market sp…
Flipkart to hire 10,000 temporary staff ahead of festive season
E-commerce major Flipkart expects to hire over 10,000 temporary staff to ramp up its delivery and logistics service to meet the festive demand. The move comes as part of the preparations being made by e-commerce companies as they launch offers to boost sales during the upcoming festive period. &#…
Alibaba’s Jack Ma promotes free trade for SMEs via Electronic World Trade Platform
Alibaba Executive Chairman Jack Ma used the G20 summit to promote easier access to world markets for Small and Medium-sized Enterprises (SMEs) via the Electronic World Trade Platform (eWTP). The eWTP is a concept for a more inclusive way for nations to implement free and fair trade for their SME …
Facebook launches 3 new solutions to help small businesses
Social media giant Facebook on September 8 launched three new solutions to help small businesses become large and local businesses become global. Businesses can now use `Lookalike Audiences` tool to reach customers in new countries who are similar to their existing ones, Facebook said in a statem…
Two SMEs to hit capital markets
Two companies, Crown Lifter and Husys Consulting, are coming out with their initial share sale today i.e September 9 to raise around Rs 11 crore. These firms will get listed on the NSE’s Small and Medium Enterprises platform. The Initial Public Offerings (IPOs) of Crown Lifter and Husys Con…
Zuckerbergs lead $50 mn investment in BYJU’s
Facebook founder Mark Zuckerberg’s investment arm for education and healthcare, the Chan Zuckerberg Initiative, has made its first investment in Asia in BYJU’s, a Bengaluru-based education technology firm. The $50 million commitment saw funding from investors such as Sequoia Capital, …
Gurgaon’s Burger Singh raises extra funds for expansion
Gurgaon-based fusion burger chain Burger Singh has secured additional investment taking the total fund raise to USD 1 million. The company plans to use the proceeds of the investment to expand beyond south Delhi and Gurgaon. As part of larger expansion strategy, owner of the chain Tipping Pink pl…
SMEs hit hard by the trade finance gap globally
A recent report by Asian Development Bank (ADB) Brief said that Small and Medium Enterprises (SMEs) face the greatest obstacles in accessing affordable trade financing. Globally, 57% of trade finance requests by SMEs are rejected, against just 10% for multinational companies. High rejection rates…
Rs 40 cr for coir workers’ pension
The government of Kerala has sanctioned Rs 40.01 crore to the Coir Workers’ Welfare Board towards disbursal of pension to workers. As many as 66,000 workers are eligible for pension under the board’s scheme. Distribution of pension, at the new rate of Rs.1,000 a month, has already commenced. The …