Search Result for : Start Up India

The Dollar Business Bureau Commerce Secretary Rita Teaotia said on Thursday that engineering exports from India, which have already on a healthy growth trajectory, are likely to witness a ‘new high’ in the ongoing fiscal.  Exports from the engineering sector have reached $62 billion, recording a growth of around 22% during the period April-January of 2017-18.  “We are confident that, the exports will see a new high this financial year,” Teaotia said, while speaking at the inauguration of India Engineering Sourcing Show (IESS) organised by Engineering Export Promotion Council (EEPC) of India in Chennai.  Commerce Secretary said the shipments to developed nations are increasing at a rapid pace. Exports to Europe and North America account for around 40% of the overall exports from engineering sector.  The initiatives ...

The Dollar Business Bureau  External Affairs Minister Sushma Swaraj said on Tuesday that there is a need to enhance trade, investment and commerce with the extreme eastern parts of Russia or Russian Far East in order to achieve the $30 billion target, set for bilateral trade between the two countries, by 2025.  “The Russian Far East is one of the richest regions in the world and India is among the fastest growing large economies of the world. There is lot that can be done together. When other markets are closing, we need to find new ones and create virtuous cycles of investment. Investment is in the ultimate analysis an act of faith,” Sushma said, while speaking at the India-Russia Business Dialogue at the Eastern Economic Forum ...

The Dollar Business Bureau The Commerce and Industry minister Nirmala Sitharaman, launched the Startup India virtual hub yesterday. This will be a platform for all entrepreneurs to discover, connect and engage with one another. Speaking during the inauguration, the minister said, “Startup India Virtual Hub is an effort to create a marketplace where all the stakeholders can interact, exchange knowledge, and enable each other to grow. It will streamline the lifecycle of existing and potential startups, helping them access the right resources at the right time. She also encouraged all entrepreneurs in India to utilize this portal and all enabling stakeholders to contribute to the platform as much as possible.” She also announced the Startup Exchange programme intended to serve the SAARC countries, ...

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 ...

Sairaj Iyer Government contracts could be a great avenue for start-ups and MSMEs, but many perceive it to be a complicated route, similar to a confusing chakravyuh. Lt. Gen Ravi Thodge, ASVM, SM, VSM and Master General Ordinance with the Indian army (retd.) highlighted that this chakravyuh is fast disappearing. Speaking to a gathering of MSMEs at the World Trade Center, he shared that a defence-MSME partnership would not only help start-ups, but also offer the army indigenized products and local support. Speaking about how the initiative has been lacking over the past few years he said, “The basic desire to work with the army is lacking. In the past 2 years, I have been travelling and interacting with various MSMEs, and ...

A five-fold hike has been made by the government in its budget for funding start-ups in the next fiscal, a move which is in line with Prime Minister Narendra Modi's ambitious 'Start-Up India' initiative. Source: PTI Start-up India initiative getting a shot in the arm with the Govt increasing the seed capital     A five-fold hike has been made by the government in its budget for funding start-ups in the next fiscal, a move which is in line with Prime Minister Narendra Modi's ambitious 'Start-Up India' initiative. According to Ashutosh Sharma, Secretary, Department of Science and Technology (DST), in the 2016-17 financial year, it will provide seed capital to 50-80 new ventures with funding ranging from Rs.50 lakh to Rs.1 crore per company. For the ...

There has been an increase of 1.3% in horticulture production and reduction of 4.9% in food grain production in 2014-15 as compared to 2013-14 The Dollar Business Bureau Government has announced two schemes- Paramparagat Krishi Vikas Yojana (PKVY) and Organic Value Chain Development in North East Region, to promote organic farming Despite monsoon concerns, Indias horticulture production has outpaced food grain production over the last four-year period since 2012-13, said an official release on Friday. There has been an increase of 1.3% in horticulture production and reduction of 4.9% in food grain production in 2014-15 as compared to 2013-14, said the Minister of State for Agriculture & Farmers Welfare, Mohanbhai Kalyanjibhai Kundaria, on Friday. According to Horticulture statistical data, while horticulture production went on ...

Source: PTI    Economic reforms in India are going in the right direction, but the level is “wrong”, RBI Governor Raghuram Rajan has said, referring to some of the outdated regulations that are currently in place. “Well let me put it this way, the direction is the right one. The level is wrong. We have too much of the wrong kind of regulation and too little of the right kind of regulation,” Rajan told Bloomberg TV in an interview on Thursday. “So we do need to hack away at this, and it will take time, it doesn’t happen overnight. We are doing it. We do recognise that we overregulate. That business needs a better environment,” he observed. “At the same time there ...