Ahead of the Goods and Services Tax (GST) rollout, small and medium scale enterprises (SMEs) in Pune find themselves in a tricky situation. Automobile manufacturers, the major customers of these companies, have stopped taking finished products from them amid the uncertainty over the GST slabs and…
Tag: OEMs
Shell Lubricants to lean on smaller business segments to achieve target
Shell Lubricants is planning to focus on some of the segments where it has comparitively less presence so far, in order to achieve its target of becoming the largest international lubricant player in the country in the next three years. The company is already a leading player in wind turbines, co…
CarTrade raises $55 mn afresh to drive growth
CarTrade, India’s leading online automobile classifieds platform, on February 8 said that it has raised $55 million in a fresh round of funding led by Temasek, an investment company based in Singapore, alongside a large US family office. This injection of capital will be used to support CarTrade’…
Parking solutions app PParkE raises seed round
Bangalore-based Pristech Technologies Pvt Ltd, which runs parking solutions app PParkE, has raised an undisclosed amount in seed funding from Singapore-based early-stage investment firm SB Ventures, one of its co-founders told. Shampa Ganguly, Co-Founder and CEO, PParkE, said, “We have been using…
CarTrade to venture into used-car financing
Auto classifieds site CarTrade wants to make it easier for buyers of used cars to get loans. It’s currently piloting a project to promote institutional financing of such vehicles. “There are 3.5 million used cars sold every year in India, out of which not more than 10% are financed by…
Universal robots to tap MSMEs
Denmark-headquartered Universal Robots aims to tap small industries in tier II/III towns across India, a top company executive said. In an interaction, Universal Robots General Manager (India) Pradeep S David said, “We are in talks with smaller industries like auto component and packaging industr…
Innovation is key for Make In India’s success | Aequs CEO
Aravind Melligeri, Chairman and Chief Executive Officer of Aequs Pvt. Ltd, a Karnataka-based aerospace parts maker, shares his views on the Narendra Modi government’s flagship Make in India programme. Edited excerpts: The Make in India initiative of the government is focused on 25 sectors that al…