Union government’s Make in India programme is just a mirage for the small and medium pharma companies because drug manufacturing is capital intensive activity. Instead the sector is grappling with rigid price controls and ban on fixed dose combination (FDC) issues, said Anjan K Roy, founder, RL F…
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Start-up Banyan Nation to help Telangana clean up waste
The Telangana government, which has been talking about partnering startups to roll out solutions for citizens, on June 20 announced that it will be joining hands with Hyderabad-based startup Banyan Nation to usher in efficiency in the area of waste management in the state. “Telangana has be…
18% GST on MMF to hit the powerloom sector
Powerloom units will take a hit if the GST on man-made fabric (MMF) is kept at the proposed 18%, industry officials said. Powerloom accounts for more than 86% of the total MMF production in India while the rest comes from other segments like handlooms, hosiery and mills. Incidentally, the GST on …
Smriti Irani unveils world’s largest cushion
Union textiles Minister Smriti Irani unveiled on June 20 the world’s largest cushion at an exhibition in Delhi. At the inauguration of the Heimtextil India fair, Irani said India’s home textile business this year has contributed 12 per cent to the country’s overall shipments globally. She said th…
Commerce department unhappy with GST norms for exporters
The commerce department has flagged a series of concerns on the mechanism devised for goods and services tax (GST) and said it would not be beneficial for exporters. To begin with, the biggest concern is related to the plan to let exporters pay the taxes and then get a refund after sending shipme…
Yoga is a part of so many lives, connects the whole world: PM Modi
Prime Minister Narendra Modi kicked off the International Yoga Day celebrations from Lucknow with Uttar Pradesh Chief Minister Yogi Adityanath and almost 50,000 participants. While kicking off the global event he said that “Today, Yoga has become a part of so many lives. Yoga’s popula…
No excuse for firms not to be ready for GST: Arun Jaitley
Finance Minister said enough time has been given for GST preparation He claimed 6.5 million firms have registered for GST He also said he expected there to be “some challenges” in the short term after the launch Companies have been allowed to file simplified, aggregate tax returns in …
GST launch at midnight: Here are the program details
GST launch will take place exactly at midnight of June 30 and July 1 GST will be launched in the presence of President Pranab Mukherjee There will be a 1-hour program at the launch Finance Minister Arun Jaitley on June 20 shared the contours of the GST (Goods and Services tax) launch program on t…
How start-up CoinTribe is helping SMEs get loans quickly
Having spent most of their professional life in the banking and financial sector, Amit Sachdev, Rohit Lohia and Manish Chaudhari finally decided to start their own financial services company. The three had had a particularly close look at SME lending. “As consultants, we were exposed to the banki…
Cabinet may give nod to Rs 2k cr Credit Guarantee Fund in July
The proposed credit guarantee fund that will help startups get collateral-free loans is likely to get the cabinet nod in July. The fund, with a total corpus of Rs 2,000 crore, was announced in January 2016 by Prime Minister Narendra Modi to enable greater financial support for startups. “We…