FM Jaitley announced slew of majors to boost MSME sector.
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Car rental start-up Drivezy raises $10 m funding
Mumbai-based self-driving car rental startup Drivezy has just received funding of Rs. 65 crore ($10million) as part-equity and part debt. The company used to be known as JustRide earlier. Of this, $5 miilion has been made by Axan Partners, Das Capital and IT Farm, which have their origins in the …
SIDBI to broaden scope of MSME lending portal Udyamimitra
Mumbai: SIDBI plans to broaden and deepen its scope of lending to small and medium businesses by upgrading its lending portal Udyamimitra. The upgraded portal will put in place a digital financial market place for micro, small and medium enterprises (MSMEs) to leverage the pr…
India Inc welcomes GST Council decisions, says it will provide relief to SME sector
In its third meeting since the implementation of Good and Services Tax, the GST council today delivered a much-awaited relief to taxpayers and India Inc welcomed the outcomes of the meeting. “The decisions will improve compliance,”
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Back small, medium businesses to create jobs, Rahul urges government
New Delhi: The government should support small and medium businesses and the informal sector to create jobs instead of unleashing taxmen on them, Congress Vice President Rahul Gandhi has said. In a video released by the Congress on October 6, Gandhi said the central issu…
Rayalaseema will emerge as an industrial hub, says Minister
With the likely establishment of a ‘Coastal Employment Zone’ alongside the upcoming industrial corridors and other developmental activities, the Rayalaseema region would soon emerge as an industrial hub, said Industries Minister N. Amarnath Reddy. Addressing the gathering during an inte…
Three months on, GST now good for small traders
New Delhi: India announced a significant revamp of the goods and services tax (GST) regime three months after it was rolled out, addressing key complaints, especially those of small-scale industry and exporters. The GST Council raised the composition scheme threshold to Rs 1 crore from Rs 7…
SAP ‘Leonardo’ to help Indian SMEs join digital economy: President & MD
Mumbai: With the digital India initiative firmly in place, enterprise solutions provider SAP is ready to not only enable the integration of small and medium enterprises (SMEs) into the digital economy but also help big firms bolster their networks to derive competitive advantage, a top company ex…
Oracle eyes Indian artificial intelligence start-ups
American tech giant Oracle on October 5 announced the first batch of startups for its Startup Cloud Accelerator programme in New Delhi and Mumbai. The selected young ventures are using technologies such as artificial intelligence and Internet of Things to solve problems such as diagnosing di…
Global investors make a comeback, Indian start-ups back on radar of hedge funds
New Delhi: Global hedge funds and asset management companies, including several from Hong Kong, are making a cautious return to India’s resurgent startup ecosystem, some 18 months after they pulled back amid a churn in the domestic market. A number of Hong Kong-based fun…