Digital education portal TopRankers on September 8 announced that it has raised Rs 4.5 crore from Careernet Consulting and Ideation Initiative Pvt. Ltd. The company will use the funds for improving technology and geographic expansion in India. Founded by Gaurav Goel, Malay Sarkar, Mehbub Hussain,…
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SMEs raise Rs 185 cr through IPOs in FY’17
Riding on upbeat market sentiment, as many as 23 Small and Medium Enterprises (SMEs) got listed on capital markets with initial public offerings worth Rs 185 crore in the current fiscal. In comparison, 44 SMEs raised a total of Rs 290 crore in the entire last financial year (2015-16). “Indi…
Many reforms coming, GST will get SMEs into value chain: Economic Affairs Secretary
Committing to “many more reforms”, a top Finance Ministry official said implementation of the Goods and Services Tax (GST) will bring Small and Medium Enterprises (SMEs) into the national value chain. “The government is aware that many more reforms need to be taken. After implem…
MUDRA lends over Rs 42,000 crore in 5 months
Prime Minister Narendra Modi’s pet project, Micro Units Development & Refinance Agency (MUDRA), has disbursed over Rs 42,000 crore in the five months of this financial year. This is one fourth of its annual target of Rs 1,80,000 crore. The lending agency’s disbursals nearly double…
President gives nod to GST Bill; 60 days’ countdown to GST Council begins
Turning years of wait into reality, the Constitutional Amendment Bill on Goods and Services Tax (GST) received Presidential assent on September 9 and turned into a law. The consent has moved the government a step closer to do away with indirect taxes. Next on agenda is formulation of the GST Coun…
DST commits 500 crores for PM’s vision on Startup India
NIDHI (National Initiative for Development and Harnessing Innovations), an umbrella program is pioneered by the Department of Science & Technology(DST), Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups. In order to reali…
TV Mohandas Pai wants to build an ‘ecosystem’ of funds
TV Mohandas Pai, a prolific angel investor and an outspoken commentator on civic issues, is occupied nowadays with creating an investment empire straddling an assortment of asset classes. Ultimately, Pai, who in his post-Infosys avatar has focused mostly on early-stage investments in technology s…
Govt taking a relook at ‘Free Trade Agreements’: Nirmala Sitharaman
Government is reviewing FTAs that India has signed with trading partners after the industry voiced concerns about benefits of these pacts for domestic players. Commerce and Industry Minister Nirmala Sitharaman said many industry representatives have conveyed that free trade agreements (FTAs) sign…
Why model GST law does not give confidence to exporting community
GST will be a game-changing reform for the Indian economy which promises a common Indian market and reduction of cascading effect of tax on the cost of goods and services. GST will have a far-reaching impact on almost all aspects of business operations in the country; for instance, impact on pric…
Indian IT, telecom companies sign 10 MoUs at Kenyan expo
The three-day Indo-Africa ICT Expo, which was held in Kenya recently, saw Indian IT and telecom companies sealing 10 agreements and garnering business of over Rs 40 crore with African organisations. Some 100 firms took part in the event on September 1-3. “I strongly believe that India has v…