Vetting by inter-ministerial board removed for benefits under Startup India Action Plan
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
Policy lays out a 5-year road map seeking creation of 3.5 mn jobs and promoting 10,000 start-ups.
IIM Ahmedabad's CIIE signed a MoU with Tata Trust for founding partner for the Bharat Fund, which will provide seed funding to Indian entrepreneurs.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
He said India too had started its new journey after Independence. 'By the time 25 years were completed, a lot of work should have been done for standing on our own feet but a lot of time has been wasted,' he said.
Prime Minister Narendra Modi has said that India's economic growth is a 'natural by-product' of his nine-year-old government's political stability, as he expressed optimism that it will be a developed nation by 2047 with 'corruption, casteism and communalism' having no place in our national life.
Adani Defence & Aerospace has entered into definitive agreements for acquiring 50 per cent equity stake in agricultural drone startup General Aeronautics for an undisclosed amount. Bengaluru-based General Aeronautics specialises in developing robotic drones to offer tech-enabled crop protection services, crop health monitoring, precision farming and yield monitoring services using artificial intelligence and data analytics.
These unicorns, or startups valued at over USD 1 billion, are across industries, beyond technology and tech-enabled sectors as well, like pharmaceuticals, and consumer goods, Credit Suisse India equity strategist Neelkanth Mishra told reporters in Mumbai.
Modi, upon arrival, was received by External Affairs Minister Sushma Swaraj.
$47.6 bn capital invested across 921 deals in India in 2020, despite pandemic.
Modi's emphasises on transit for trade comes amid Pakistan's reluctance to provide such a facility for two-way trade between India and Pakistan.
Bengaluru added four of the eight new innovation centres to emerge as the fifth global hub for innovation.
According to a study more than one-fifth of India's product start-ups are from the city.
The Reserve Bank on Thursday said it will come out with a framework allowing borrowers to switch to fixed interest rate from floating interest rate, a move that would provide relief to borrowers of home, auto and other loans reeling under the impact of high interest rate. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said under the framework, to be put in place shortly, the lenders will have to clearly communicate with the borrowers about tenor and EMI. "The supervisory reviews undertaken by the Reserve Bank and the feedback and references from members of public have revealed several instances of unreasonable elongation of tenor of floating rate loans by lenders without proper consent and communication to the borrowers," he said.
Ola Electric, India's largest maker of electric scooters, launched its most affordable ride on Tuesday, in an attempt to woo more customers and expand its electric two-wheeler lineup.
Prime Minister Narendra Modi laid the foundation stone laying ceremony of the Manipur water supply project via video link.
GenNext Innovation Hub is also pursuing a new global partnership program to collaborate with organizations in US, Europe and Asia.
Ratan Tata said he continued to feel the need to support young entrepreneurs who were keen to unleash the Indian tiger.
Uber will provide mentorship for start-ups on matters such as funding, marketing, operations and scalability.
Education topped the table with nearly $1.755 billion as against $379 million last year, followed by real estate which received $754 million.
Emirates and Etihad Airways have over the past year continued to lobby India to allow them more flight slots, which won't be possible until the 2007 pact is revised.
As a venture partner, DVP said that Neemuchwala would be bringing deep technology expertise and invaluable experience of building businesses.
Prime Minister Narendra Modi in his first-ever in-person meeting with President Joe Biden raised a number of issues involving the Indian community in America, including access for Indian professionals in the US and speaking about the H-1B visas, Foreign Secretary Harsh Vardhan Shringla has said.
'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'
Stating that recent agriculture reforms have opened new opportunities, the RBI Governor said the farm sector is emerging as a bright spot.
With $18.6 billion in investments, Bengaluru made it to the top-five leading VC funding hubs across the world in 2021 - following San Francisco Bay Area, New York, Greater Boston Region and London. However, it outstripped Beijing ($13.6 billion) and Shanghai ($13.4 billion). Global tech VC investment into start-ups hit a record level of $675 billion in 2021, doubling the previous all-time high of $340.6 billion in 2020, a report by London & Partners and dealroom.co.
Nadella was in India last December.
The tax forces young startups to part with a portion of the capital they have raised from investors due to disagreements over the valuation of the company by Income Tax officials.
People in India haven't seen what happens if the environment gets sour, the Softbank vice-chairman said.
'At the heart of the strategic relationship between our countries are economic ties.'
India turns talent backyard for Southeast Asian taxi apps to fight Uber.
Close to 9,000 start-ups are currently banking with HDFC Bank and it has the bank now dedicated SmartUp zones in 70 branches in 30 cities across India.
The idea that technology and startups with newer business models will not disrupt traditional businesses has been thrown out the window.
Corporates understand that the PMO drives all key decisions in this government.
Referring to the government's Make in India initiative, he said India has become a hub of mobile phone manufacturing, which has provided employment to 4-5 lakh youth in the last four years and has helped the country save Rs 3 lakh crore foreign exchange.
'Make in India'presents a huge opportunity for jobs.
Loss of investor confidence in Flipkart last year sparked off a chain reaction in startup sector
The number of forms to be filled to operate drones in the country have been reduced to six in draft 'Drone Rules, 2021' in comparison to 25 forms mentioned in the Unmanned Aircraft System (UAS) Rules, 2021, it said.
India is witnessing its own tech tsunami, and is poised to become the second largest global startup hub by the end of the decade
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