Pharmacy distributor MedPlus plans to set up 200 stores in tier II and III cities in Tamil Nadu over the next one year. “We are planning to reach out to the interior parts of Tamil Nadu and set up 200 franchise stores in the initial stage, in the next one year. We will be planning another […
Tag: Telangana
Start-ups seek easier access to tax benefits
At a meeting with Commerce Minister Nirmala Sitharaman on July 28, a number of start-up enterprises asked for easier access to tax benefits and more incubation facilities, among others. The Minister later told journalists that issues such as government funding and online selling of prescription d…
Govt asks top 50 companies to fund incubators as CSR spend
The government has asked the country’s top 50 companies to fund incubators as part of their corporate social responsibility (CSR) spend, a move meant to strengthen the startup ecosystem. Large companies have to allocate 2% of their profits towards CSR but have competing demands -from buildi…
Five star business credits raises Rs 114 crore from Morgan Stanley PE Asia
Five Star Business Credits, which provides loans to micro entrepreneurs, has raised fresh funding of Rs 114 crore from investment firm Morgan Stanley Private Equity Asia, which has now acquired a minority stake in the Chennai-based company. The Matrix Partners-backed venture, registered as a non-…
Telangana wants to be the next start-up hub
Pitching as a new start-up haven, India’s youngest state Telangana has been trying to emerge as a base for budding companies in the country. Looking to keep the momentum alive on generating home-grown entrepreneurs, the government is planning an event similar to Prime Minister Narendra Modi…
MSME Employment generation grew at 73 per cent during 2009 – 15 | CRISIL Study
An analysis of about 5,500 Micro, Small and Medium Enterprises (MSMEs) which are engaged in manufacturing activity and which approached CRISIL for renewal rating between 2009 and 2015 shows that employment generated by these units grew at 73 per cent over these seven years. In 2009, the MSMEs pro…
MUDRA Loans: Banks, Microfinance take Lion’s share
On January 7, the Government announced: “MUDRA (Micro Units Development Refinance Agency) loans amounting to Rs 71,312 crore have been disbursed to 1.73 crore borrowers as on 1st January, 2016.” A closer look at these numbers reveals the government refinanced loans of only Rs 2,000 crore under th…
Nadella seeks ideas from start-ups to connect rural India
Microsoft is interested in working with Indian entrepreneurs to connect rural areas with technology and new economy, Chief Executive Officer Satya Nadella said on Monday. Nadella, who was on a four-day personal visit to Hyderabad to attend a family function, visited T-Hub, an incubation facility …