Oil Minister Dharmendra Pradhan on September 6 urged the public sector undertakings to create startup funds on the lines of private sector in order to promote innovation and nurture new ideas in the energy sector. Pradhan while addressing a conference on methanol economy organised by NITI Aayog s…
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Snapdeal offers Rs 1,000 crore collateral-free loans to its sellers
Online marketplace Snapdeal is offering collateral-free loans worth Rs 1,000 crore for its sellers, ahead of the festive season to enable them to stock up adequately. The loans would be disbursed through its ongoing programme — Capital Assist — which is now managed by FreeCharge and i…
Chile grants concession for importing textiles, leather, handicrafts from India
Chile has granted concession for importing transport equipment, pharmaceuticals, yarn of polyester fibres, tyres and tubes, chemicals, textiles, readymade garments, plastic goods, leather, engineering goods, imitation jewellery, sports goods and handicrafts from India. With India and Chile expand…
India’s growth is in its small businesses: Nandan Nilekani
One of the founders of iconic IT company Infosys and the brain behind Aadhaar, Nandan Nilekani wears several hats these days — that of a philanthropist, angel for start-ups and an evangelist for re-imagining India. In an interview, Nilekani shared his views on a variety of issues concerning the c…
To give fillip to startups government to double incubation centres
The government has embarked upon an ambitious project of doubling incubation centres in next 4-5 years to give innovation a boost. The Ministry of Science and Technology has also increased by a whopping 450 percent the budget for the start ups and innovation centric initiatives from Rs 40 crore t…
‘MSMEs feel cash pain, need Rs 5.15 lakh crore in near term’
Highlighting the financial crunch faced by MSMEs, a report has pegged the total credit demand for the sector at Rs 45 lakh crore over the medium term while Rs 5.15 lakh crore needs to be mobilised for the near term. “Crisil estimates show Rs 11.37 lakh crore is only a quarter of the total f…
Common Service Centres to help entrepreneurs in making LED bulbs
Soon Common Service Centres (CSCs) will help entrepreneurs interested in making LED bulbs by providing them with assembly kits. CSCs, till now were being utilised for booking railway tickets, providing Aadhaar numbers and passport applications. The government is proposing to provide LED kits to C…
Amazon India considers investment in online food delivery startup Swiggy
Amazon India is considering an investment in online food delivery startup Swiggy and has held several rounds of discussions with the Bengaluru-based startup over the past three months, according to four people directly aware of the ongoing negotiations. Swiggy has also attracted the attention of …
Funding to be given to states for developing skill sets: Rajiv Pratap Rudy
Funding will be given to states for developing skill sets among the youth. The Union Ministry has already set up a corpus of ₹32,000 crore provided jointly by the World Bank, Pradhan Mantri Kaushal Vikas Yojana and similar other apprentice schemes, Rajiv Pratap Rudy, Minister of State (Independen…
InnoVen Capital extends loans worth $6 million to Capillary Technologies, Simplilearn
Venture debt firm InnoVen Capital India on Sep 6 said it has extended loans worth a total of $6 million to consumer analytics company Capillary Technologies Pvt. Ltd and education technology start-up Simplilearn Solutions Pvt. Ltd. Backed by Singapore’s sovereign wealth fund Temasek Holdings Pvt.…