The intensifying tariff war among telecommunication players in India is likely to result in consolidation of smaller, regional and startup operators in the telecom space, global research firm Macquarie says.
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.
Dubbed as Startup Act 3.0, the legislation would also enable such immigrant entrepreneurs by giving them permanent residency upon meeting certain requirements.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The idea that technology and startups with newer business models will not disrupt traditional businesses has been thrown out the window.
So what's up? Why are so many promoters heading for the door? It cannot be that all of them lost their appetite for a good fight at the same time.And if Naresh Goyal of Jet Airways and Subhash Chandra of Zee Entertainment do bow out, will it be seen as chickening out when the going got tough or the entrepreneurial instinct of surviving to fight another battle waned, wonders Shailesh Dobhal.
Facebook has been working to boost its mobile technology as it focuses on growing revenue from its mobile advertising business.
The proposal is awaiting final policy sanction from the home ministry.
Ankur Singla, who sold his startup in a multi-million deal within two days of launching it, speaks to Faisal Kidwai.
The Indian PC market grew by 17.8 per cent in shipment to 3.7 million units in the April-June 2022 quarter, International Data Corporation (IDC) said in a report on Thursday. The PC market includes desktops, notebooks and workstations.The notebook category continued to be the volume driver, with the shipment of 2.6 million units in the June 2022 quarter. However, its growth rate reduced to 7.3 per cent compared to over 30 per cent on average for the last three quarters.
IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola. The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.
People in India haven't seen what happens if the environment gets sour, the Softbank vice-chairman said.
Ambani is in good company. The likes of ultra-rich individuals like hedge fund billionaire Ray Dalio and co-founder of Google Sergey Brin have chosen Singapore to establish their family offices. So have British inventor James Dyson, famous for his bladeless fans and hair dryers and vacuum cleaners, and Zhang Yong, founder of China's Haidilao hotpot restaurant chain, reports Lee Kah Whye.
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.
The study reveals that California, which houses the Silicon Valley, has emerged as the favourite destination for immigrant Indian entrepreneurs.
E-commerce platform Snapdeal is looking at filing its Draft Red Herring Prospectus (DRHP) in the next few weeks to launch an initial public offering in first half of next year, according to sources. Sources close to the development said the company is looking at a $250 million (around Rs 1,870 crore) IPO that could value Snapdeal at about $1.5-1.7 billion. Snapdeal is looking at filing the DRHP in December-January time frame, and launch the IPO in the first half of 2022 after the necessary approvals, they added. One of the sources said the founders will not be selling shares as part of the IPO, and major shareholders are also expected to hold onto their shares.
Modi invoked the epics of Ramayana and Mahabharata to assert that it is in Indian tradition to avoid war be it in Lanka or Kurukshetra and the country stands for world peace.
ICAI on Tuesday said it is setting up a fast-track cell to deal with cases against chartered accountants involved in incorporating shell companies in India with Chinese links and it would aim to dispose them of by the end of the year. Those found guilty can face a lifetime ban, among other actions. The apex bodies of chartered accountants and company secretaries, ICAI and ICSI, have together received around 400 complaints on the issue and necessary actions have been initiated.
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
Bharat Biotech is also looking at nasal vaccine as a booster dose as its scaling up capacity is very easy when compared with Covaxin, he added.
E-commerce job queries have been increasing as well.
MEA Spokesperson Arindam Bagchi said the forthcoming Quad summit will provide an opportunity for the Quad leaders to exchange views about developments in the Indo-Pacific and contemporary global issues of mutual interest.
Modi has accelerated efforts to make India the next driver in innovation, Sunder Pichai said.
Prime Minister Narendra Modi on Thursday said his government is using all channels including diplomatic to bring back high-profile economic offenders, leaving them with no option but to return to the country. Speaking at a symposium on credit flow and economic growth, he asked banks to support wealth and job creators with proactive lending while promising to stand by any loans given in right earnest. "In our attempt to bring back fugitive (economic offenders), we relied on policies and law and also used diplomatic channels.
The government fully supports foreign and Indian companies in leveraging Internet as "force of good" but will take all measures to ensure that Internet remains open and is not dominated by some big corporates, Minister of State for IT Rajeev Chandrasekhar said on Wednesday. Chandrasekhar said the government wants to make sure that intermediaries and the big platforms such as Meta (formerly Facebook) and others develop a culture of mutual respect and accountability between the platform and its users. "And we also want to make sure that given that a billion Indians are going to be there... women, children, elderly, pensioners, all of them, that the internet is also safe and trusted.
The ministry also decided to dispense with the requirement of the Integrity Pact Bank Guarantee to reduce the financial burden on the Indian defence industry, a move aimed at promoting domestic manufacturing.
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 advised the start-up community to learn from the failures
Jhunjhunwala passed away early on Sunday morning due to a cardiac arrest, a source in his newly set up airline said.
On an annual basis, we'll seek out solutions to Indian Railways' most critical problems through 'innovation challenge': Suresh Prabhu
Under Trump presidency one should expect much more cooperation between the US and India, said Indian-American Republican from Texas Ashok Mago.
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.
Will open radio access network technology (O-RAN) disrupt the way 5G networks roll out in the country? After all, it promises to offer a substantially lower capital cost, enables the choice of an array of vendors, and provides more network flexibility - all very important for telcos who expect to invest over Rs 60,000 crore to roll out a pan-India 5G network and that's without spectrum costs. But more importantly, it counters the stranglehold of global telecom gear makers such as Ericsson, Nokia, and Samsung over telcos to whom they sell propriety technology and bundled hardware and software.
Amid attacks on Indian-origin people in the United States, an anti-immigration website has caused alarm among the community after featuring a video showing a man secretly filming Indian families at an Ohio park and commenting that the "Indian crowd" has "ravished the Mid-west".
Social networking giant Facebook has distributed benefits worth $20 million to developers in India, its second largest market globally to help them build and monetise apps.
Apurv Bansal and Prateek Rathore are keen to expand their business
There is an overwhelming sentiment among techies and entrepreneurs from the Silicon Valley who are eager to welcome Modi over the weekend.
Experts are betting big on the clause that talks of capital gains.
AI and machine learning will only continue to grow in 2022, with a significant increase in the demand for such roles, notes Sekhar Garisa, CEO, Monster.com.
'Thank you to those citizens of India who, every single day, quietly, anonymously, and decently refrain from targeting, hounding or murdering their neighbours, no matter how much they want to; and thanks also to those who loudly stand up for each other in the face of threat,' says Mitali Saran.
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