Reliance Jio has parked Rs 5,000 crore venture capital fund to help young entrepreneurs in the country build their business. Speaking at Reliance Industries 42nd annual general meeting, Chairman Mukesh Ambani said Reliance Jio’s aim is to build a platform for young Indians who want to creat…
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Small businessmen wary of retro tax demand under GST mechanism
The Goods and Services Tax (GST) has been heralded as India’s biggest reform since the 1991 liberalisation but one aspect of it has made certain small businesses nervous. Given that it will be virtually impossible to escape the tax net once the new levy is implemented, will this make them f…
Online Portal for Handloom Stall Allotment to bring transparency with ease
Online Portal for Handloom Stall Allotment was launched by Rashmi Verma, Secretary, Ministry of Textiles in New Delhi on August 31. This portal is envisioned as weaver friendly platform, which shall streamline allotment of handloom, stalls. Technology shall be leveraged to bring in more transpare…
Ease of doing business rankings rankle states
A fierce competition has broken out among states on the ease of doing business rankings, with states contesting every point, while some have even hired top consultants to keep tabs on the entire process. States want these consultants, including PwC, EY and KPMG, to not just help them with their o…
Facebook to help Jodhpur’s handicraft artisans in growing biz
Social networking giant Facebook has come forward to help handicraft artisans of Jodhpur, which has a global imprint on handicraft manufacturing and exports. A business promotion team from Facebook will be in the city next week to hold seminars and one-to-one meetings with the artisans and train …
Govt to strengthen ways to fix e-commerce complaints
Government decided to add some muscle to the mechanism for resolving growing complaints against e-commerce players and warned them of stringent action for not responding to its queries on customer grievances. Nearly 46 companies, including Flipkart, Xiaomi, Olx.in and Bookmyoffer.com, have not be…
80% of Indian manufacturing industry to adopt the advanced trends by 2020: Report
Tata Strategic Management Group, the management consulting arm of the Tata Group, on August 31 unveiled a report on readiness of Indian manufacturing to adopt advanced manufacturing trends in collaboration with FICCI. The report is based on a first of its kind survey conducted to gauge readiness …
Govt seeking ways to increase India’s automotive global supply: Nitin Gadkari
Union Transport Minister Nitin Gadkari on August 31 said the government is seeking ways to increase India’s exports to the automotive global supply. It is also attempting to implement a scrapping policy for old vehicles to reduce vehicular pollution. “The automotive sector is on the road towards …
MedPlus to set up 200 stores in tier II & III cities of TN
Pharmacy distributor MedPlus plans to set up 200 stores in tier II and III cities in Tamil Nadu over the next one year. “We are planning to reach out to the interior parts of Tamil Nadu and set up 200 franchise stores in the initial stage, in the next one year. We will be planning another […
Microsoft India to focus on SME sector for growth, says Pramanik
The Microsoft India story began in 1990 and has grown steadily since then. Bhaskar Pramanik, who took charge as Chairman of Microsoft Corp. (India) Pvt. Ltd in 2011, is responsible for the company’s marketing, operations and business development efforts. In an interview, he reflects on Microsoft’…