Search Result for : Biotechnology

The Dollar Business Bureau   The Government has introduced some slight changes to the definition of start-up and said that an entity not older than 7 years will now be eligible to get benefits under the ‘Start-up India’ Action Plan. Currently, only businesses incorporated five years back were eligible for sops under the Action Plan, which was announced by the government in 2016. According to the new definition, an enterprise with a turnover of less than Rs.25 crore shall be considered a startup if it has not finished 7 years from its date of registration/incorporation. However, for the start-ups in biotechnology sector, this period shall be 10 years, a notification by the Ministry of Commerce and Industry said. “An entity shall be considered as a startup if ...

The Dollar Business Bureau Indian global company Tata Chemicals Limited is planning to invest around Rs.200-250 crore for the development and creation of nutritional products in the state of Andhra Pradesh. In this regard, the company entered into a memorandum of understanding (MoU) with the government of Andhra Pradesh on January 28, 2017. “The company has signed an MoU with the Government of Andhra Pradesh during the second Sunrise Andhra Pradesh Investment Meet for creation and development of Biotechnology-based nutritional products such as Oligosaccharides and other nutritional products in Nellore district involving investments of approximately Rs. 200-250 crore,” Tata Chemicals said in a filing with BSE. Tata Chemicals Ltd, a firm of Tata group, is engaged in manufacturing chemicals, fertilisers and salt. The company also sells spices and ...

The Dollar Business Bureau  Foreign Venture Capital Investors (FVCIs), registered with SEBI (Securities and Exchange Board of India), can now invest in Indian startups without prior approval of the Reserve Bank of India (RBI).  FVCIs have also been allowed to invest in unlisted companies in certain sectors including biotechnology, IT related to hardware and software development, nanotechnology and dairy industry, among others, without prior permission of the central bank.  “In order to further liberalise and rationalise the investment regime for FVCIs and to give a fillip to foreign investment in the startups, the extant regulatory provisions have been reviewed, in consultation with the Government of India and accordingly amendments have been carried out,” RBI said in a circular issued on Thursday.  Any SEBI registered ...

 The Dollar Business Bureau Bio Veda Action Research Pvt Ltd, which sells herbal and Ayurvedic cosmetic products under the brand name Biotique, is planning to invest Rs.200 crore to double its capacity by setting up new plants in Himachal Pradesh and in the North-east, revealed an official of the company. To further expand its presence in retail space, the company will increase the number of standalone stores in the country from 10 to 100, this financial year 2016-2017, said Vinita Jain, Chairperson and Managing Director at Bio Veda Action Research. In order to achieve that the company will invest Rs 250 cr in its standalone stores and also strengthen its sales and marketing divisions in India. The proposed target of achieving 100 ...

PTI Seeking to stimulate and enhance the strategic research and innovation capabilities of the Indian biotech industry, BIRAC, a PSU under the Ministry of Science and Technology today signed an MoU with Horticulture Innovation Australia for launching a joint funding call. The focus of the call is to undertake horticultural research in order to develop and deploy modern tools of plant biotechnology to improve crop productivity. The funding commitment from BIRAC and Hort Innovation is up to 6 million Australian dollars over a period of three years. "Biotechnology Industry Research Assistance Council's (BIRAC) vision is to stimulate and enhance the strategic research and innovation capabilities of the Indian biotech industry, particularly start-ups and SMEs, for the creation of affordable ...

The Dollar Business Bureau   IIT Madras’s incubated water technology company InnoNano Research (INR), has bagged an investment of $18 million from US based NanoHoldings (NH). Encouraged with this investment, the Indian start-up may soon expand its presence in the international market. Using nano technology, INR provides clean drinking water, free from arsenic and fluoride to rural areas affected by heavy metals. This technology was already implemented in more than 700 villages across Punjab, West Bengal and Karnataka. The company plans to cover over 1,500 villages by 2017. “The presence of arsenic and iron in drinking water affects the health of rural people. We are using latest water technology to remove the contaminants at affordable cost,” said H Anshup, Co-Founder and Managing Director of ...

Source: PTI India has held a first-of-its-kind business summit in Scotland to strengthen bilateral trade ties and generate awareness among Scottish companies for doing business in the country under the 'Make in India' initiative. "The India-Scotland Business Summit is being organised at an opportune time when the economies of both India and UK are witnessing high levels of growth and diversification. Scotland plays a very vital role in the UK economy," Indian High Commissioner to the UK Ranjan Mathai said. Scottish Enterprise's global arm Scottish Development International (SDI) organised the summit with the collaboration of the Confederation of Indian Industry (CII) and the Royal Edinburgh Tattoo this week in Edinburgh which was aimed at strengthening business links between Indian and Scottish ...

 The Dollar Business Bureau The biotechnology sector is growing at the rate of 30 % annually and India is set to become home to the world’s third largest setup in the sector by 2025, said Harsh Vardhan, Union Minister for Science and Technology. “I see ten years down the road, a US $ 100-billion industry which will be the powerhouse of not only India’s pharmaceutical sector, but also be on a global scale,” said the minister, adding, “At this rate of growth, it looks likely to be bigger than the domestic pharmaceutical industry.” The minister was speaking at the inaugural session of the first phase of the Bio Innovation Centre (BIC) of the Rajiv Gandhi Centre for Biotechnology (RGCB), ...