Cabinet Secretary P K Sinha has asked all the ministries and departments to set up a GST facilitation cell to help resolve sectoral concerns of the industry for the smooth rollout of the new tax regime from July 1. In a letter to the secretaries of various ministries and departments, Sinha said t…
News
Ministries to decide on FDI proposals within 60 days: FinMin
The government has said post the abolition of the FIPB, Ministries will have to decide on FDI proposals within 60 days of the application and any rejection will need concurrence of the DIPP. India had, in May, scrapped the 25-year old foreign investment advisory body FIPB as it looks to attract m…
Coimbatore to host discussion on GST impact on SMEs
A panel discussion on GST and its impact on small and medium enterprises is scheduled in Coimbatore on June 9. The objective of this discussion is to educate SMEs on the Goods and Services Tax (GST), its implications and opportunities. With just three weeks left for the roll-out of the tax regime…
RBI’s new monetary policy today: 5 things to watch out for
The current growth-inflation dynamics has led to increased bets that the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) may soften its stance on the future course of interest rates. If so, it will be a breather for the market as it would be a deviation from the hawkishness displaye…
Textile Ministry finalising draft guidelines of National Textiles Policy
Ministry of Textiles is in the process of finalising draft guidelines of National Textiles Policy and same will be sent to the union cabinet for approval next month, a senior official said today. Pushpa Subramanyam, additional secretary of Textiles Ministry said the Centre is awaiting a formal re…
2017 BRICS Conference to help drive MSME growth
Hundreds of small business and community enterprise owners from across the Brics countries converged in Tianjin, China, on June 4 to meet potential funders and market principals. The “2017 Brics Hi-tech MSME (micro, small and medium enterprises) Cross-border Investment and Trade Co-operatio…
Google deepens engagement with Indian start-ups via Sand Hill programme
Technology giant Google is deepening its engagements with startups in India and is working with a bunch of “high growth“ ventures as part of a global programme to mentor and deepen its technical engagement with the potential winners of tomorrow. Over the past year, Google has been working with In…
Centre assures funding for Warangal Textile Park
The Union Textile Ministry is awaiting a formal request from Telangana government on the proposed textiles park at Warangal, according to a senior official. The Union Ministry of Textiles has almost finalised draft guidelines of National Textiles Policy (NTP) and same will be sent to the union Ca…
Hungry Foal raises funding from SBI under Stand-Up India scheme
Launched in April 2016, the objective of this Stand Up India scheme is to facilitate collateral-free bank loans between $15.5k (Rs 10 lakh) and $155k (Rs 1 crore) to at least one women borrower per bank branch for setting up a greenfield enterprise. The loan is repayable in seven years with a &nb…
Why Telangana is building the world’s second largest start-up incubator
In 2014, venture capitalists invested nearly $5 billion in Indian start-ups, mostly across metro cities. Hyderabad, with less than 10 per cent of the pie, was miserably behind Bengaluru, Mumbai, Delhi and Chennai. Founders would often relocate to Bengaluru and engineering graduates would skip tow…