Mumbai: Men’s consumer care product firm Bombay Shaving Company has raised Rs 14 crore from a clutch of investors led by Fireside Ventures to fuel its expansion plans. The funding round also saw participation from existing investors S Ramadorai, former CEO at TCS; Pankaj…
Tag: FMCG
GST triggers consolidation in warehousing industry
New Delhi: A wave of consolidation is sweeping over the Rs 50,000-crore warehousing industry, thanks to the goods and services tax (GST). The rollout of the tax reform measure could reduce total number of warehouses in the country by at least 40% in the coming months, top industry executives said…
GST rollout from July 1, but confusion still persists among auto & FMCG firms
With just days to go before India rings in a historic unified tax system, confusion reigns in many consumer-facing industries such as automobiles and packaged goods. While most agree that the unified goods and services tax (GST) would bring much-needed efficiency and long-term benefits, the rollo…
New tax regime to create need for 1.3 m professionals; India Inc rush to get GST math right
GST has infused optimism in the job market. As the goods and services tax rollout date nears, companies across sectors are rushing to get their GST teams in place, leading to a jump in demand for tax and technology professionals. The demand is being led by the FMCG sector, followed by consumer go…
MaxWholesale raises $1 m from Indian Angel Network & Maple Capital Advisors
MaxWholesale, a mobile-based B2B grocery supply chain, has raised $1 million in Pre-Series A round of funding led by Indian Angel Network (IAN) and Maple Capital Advisors. IAN investors include Ambarish Raghuvanshi, Raman Roy, Sunil Munjal, amongst others. Bikky Khosla of Tradeindia, Pankaj Karna…
Ahead of GST rollout, producers & traders feel taxed
Recently, pharmacists in many cities sent out mailers to some of their regular clients, especially senior citizens. Stock up on your essential drugs, the customers were told. The ‘advisory’ was not triggered by any trouble at the manufacturing end, but by apprehensions arising from the July 1 rol…
GST a seminal reform; May see retrospective changes in GDP: JP Morgan
With the Goods and Services Tax (GST) Council on May 18 fixing tax rates on 1211 items, most of which will likely become cheaper as the new rates will be lower than the current effective levies and the Indian equity market continuing its bull run, it is a crucial time for the economy and markets.…
Juice start-up MyGreens secures angel funding via letsventure
Delhi-NCR-based cold pressed juice startup, MyGreens has secured upto $1 Mn in its angel round of funding via LetsVenture. The round was led by Ajay Relan, Founder and Chairman, CX Partners. Other investors in the round included Sundeep Bhandari, Director & CEO, Petrodil, and other undisclose…
Demonetization: A vice or a virtue for start-ups in India
With the stunning move on the 8th of November by the honorable prime minister of India, everyone, be they in media, social media, domain experts, politicians, business houses and of course the common man became part of the conversation, and a stakeholder in the debate on demonetization. One perti…
NBFC start-ups in India offer quick, simple financing options to revive sick MSMEs
India has about 4.8 crore MSMEs which consequently provides employment to over 10 crore people. However, they suffer from a lack of funding support despite the government’s various attempts at financial inclusion. In order to bridge this credit gap, Lendingkart offers quick, convenient financing…