Revealing the plans of his Ministry for financial year 2016-17, Union MSME Minister Kalraj Mishra in a press conference held in New Delhi on March 08, 2016 said that Rs. 1,139 crore has been allocated under the Prime Minister’s Employment Generation Programme (PMEGP). This is expected to generat…
Tag: SME
39 Clusters under SFURTI to be approved | Kalraj Mishra
Union MSME Minister Kalraj Mishra highlighted Scheme of Fund for Regeneration of Traditional Industries (SFURTI) during a press conference. He said 39 clusters under SFURTI would be approved with an approximate cost of Rs. 60 crores. It would be benefiting more than 10,000 artisans. The Scheme is…
Seed funding for startups to be in thick of action in 2016 | VCCircle survey
A majority of venture capital funds believe that the seed stage of funding for start-ups will see maximum activity during the year while the average deal size will be between $1 million and $5 million, a survey says. According to a survey by News Corp-owned VCCircle Network, the year will not be …
UBER inks pact with Haryana Govt., to invest Rs 120 Crore
Taxi-hailing app Uber signed a pact with the Haryana government, wherein it will invest Rs 120 crore in technology based ride-sharing services. The Memorandum of Understanding (MoU) was signed at the Happening Haryana Global Investors Summit 2016. Under the agreement, Uber will invest in technolo…
Paytm expects to double its offline merchants to four million
Mobile payments and commerce platform Paytm plans to double its offline merchant and ‘kirana’ store network to reach four million merchants this year, as it looks to create more use cases for its wallet and payment bank business. “This year, we will be present offline in every n…
LoveCycles start-up gets funding, unveils app in hindi for women
LoveCycles, a start-up which enables women to keep a track of their menstrual and physiological health via a mobile app, has raised Rs.5 crore from seed-stage venture capital firm Prime Venture Partners. The funding round also marks the official unveiling of the app in India. The firm will use th…
Govt may form national hub for dalit MSME entrepreneurs | Minister Gehlot
Union Minister for Social Justice & Empowerment Thaawarchand Gehlot has said that this year being 125th Birth Anniversary of Dr. B R Ambedkar, it will also be the Year of Economic Empowerment for SC/ST entrepreneurs. In this regard, Rs 500 crore has been allotted in the budget for Stand Up In…
MSMEs battle obsolete technology, unskilled manpower, funding and Inspector Raj | QCI Report
In his August 2014 speech, PM Modi envisioned the ‘zero effect and zero defect’ (ZED) model and said ZED would primarily look at “making our product which has ‘zero defect’ so that it does not come back (get rejected) from the world market and ‘zero effectR…
TPG Growth looks to invest in Indian consumer internet start-ups
TPG Growth, an early backer of ride-sharing app Uber and home rental service Airbnb, is looking to invest in Indian consumer Internet start-ups, a company executive said. The fund will also partner with venture capital funds to invest in these companies. “We are looking to partner with some of th…
Thomas Cook India partners with Western Union to assist SMEs
Thomas Cook (India) has announced a collaboration with Western Union Business Solutions to assist Small and Medium-sized Enterprises (SMEs) in India with their trade payments across borders. According to KPMG, SMEs have emerged as one of India’s largest growing sectors, with a significant G…