With enough states ratifying the constitutional amendment for GST, it is just a matter of time before the GST Council is set up and serious negotiations begin on the revenue neutral rate (RNR) as well as the standard rate and the commodities that will be taxed at the merit/standard/demerit rates.…
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Indian online retail market to trail behind China: Report
The Indian online retail market will grow at a much slower pace as compared to China, says a new report by Kotak Institutional Equities which estimates gross sales or the value of merchandise sold on ecommerce platforms, referred to as GMV, to reach $28 billion by 2020. India’s online retai…
E-pharmacies to go on hiring spree
There’s a new recruiter in the job market — e-pharmacies. Online medicine sellers are firming up hiring plans for varied roles — logistics manager, front-end and back-end developers, customer support executives, retail operation managers and software developers, among others — in the next two to …
Hardware start-ups gaining traction, say experts
There hasn’t been many hardware start-ups launched in India because of lack of funding, proper ecosystem and mentorship, experts said. The scenario is, however, gradually changing with companies such as Grey Orange Robotics being able to raise funds. The company provides automated on-demand robot…
Exim Bank plans portal to provide export facilitation services to SMEs
To encourage small enterprises to export, the Export-Import Bank of India (Exim Bank) plans to start a portal ‘Exim Mitra’. It aims to facilitate 20-25 services, including registration for undertaking exports, information on the closest bank branch that will provide export credit, and indicative …
Here is the chance for easy loan to small town entrepreneurs
Preschool chain EuroKids International, has tied up with the State Bank of India (SBI) to offer collateral free loans to prospective and existing pre-school partners along with interest rate concessions for women franchise partners. The partnership is a step towards providing financial support to…
Indian start-up beats big firms in wearable battle
GOQii, a health care start-up, has grabbed the number one position in the wearables segment for the second quarter of calendar year (CY) 2016 with 16.1 per cent market share, leaving China’s Xiaomi behind, the latest release from International Data Corporation (IDC) said. The gain in GOQii&…
Govt rule on Chinese reflectors hampers 8k cr bicycle industry
Bicycle came to India in 1890 and complete ban on imports of bicycle was announced by the Government in July, 1953 but now this industry might have to depend on import once again. Yes, Bicycle Industry in India is in new trouble, thanks to an order issued by government. Department of Industrial P…
Union Textile Ministry plans to fight off cheap Bangladesh import of jute
The Union Textile Ministry is considering policy intervention, both long-term and short- term, to address the issues impeding the growth of the jute industry. It plans to fight off cheap Bangladesh import of jute in the country and revive the growth of the jute industry upon which the economy of …
Bihar govt to launch venture capital fund for startups
The Bihar government gave its nod for the launch of a Start-Up venture capital fund which will encourage young entrepreneurs in the state to start new ventures. The approval to the Start Up policy, 2016 was given at a meeting of the cabinet presided over by Chief Minister Nitish Kumar. The Start …