Oracle to invest $400 million in India
The Dollar Business Bureau Global software firm Oracle announced $400 million investment in India for setting up a technology hub in Bengaluru. The IT major also plans to open nine incubation centers to mentor startups in the country. Ahead of unveiling Oracle CloudWorld Mumbai, the company on Wednesday announced the launch of its new service Oracle Cloud at Customer to offer easy transitioning of business critical applications to cloud. Shailender Kumar, Managing Director of Oracle India said, “Oracle Cloud at Customer supports control over data, while facilitating data sovereignty and data residency requirements. This will be a game changer for us in India. The Indian market for cloud adoption is growing at 20 per cent but we have been growing 100 per ...
New budget to bolster economy, push exports: Industry
The major takeaway from the Narendra Modi-led governments third Union Budget was its focus on strengthening the rural economy and agriculture besides ushering tax relief for the countrys salaried class The Dollar Business Bureau The government has widened duty drawback scheme to include more products and countries besides minimising the transaction costs of EXIM trade, as additional measures to support the countrys dwindling exports After Finance Minister Arun Jaitely laid out a roadmap about how the Indian economy will shape up during the financial year 2016-17 in his third Union Budget speech earlier this week, several industry analysts praised the budget as pragmatic and progressive and said the announcement will put the Indian economy in a better place besides opening myriad opportunities ...
Schemes for startups must be extended to MSMEs
The Dollar Business Bureau As the government has unveiled its action plan for startups to provide them financial and other assistance, an industry body has said these benefits must be passed on to the existing units defined as micro small and medium enterprises (MSMEs) to ensure their growth. Prime Minister Narendra Modi on Saturday launched the 19-point action plan after a power-packed ‘Starup India’ workshop in New Delhi which was attended by CEOs of big multinational companies, venture capitalists, and a large number of startup entrepreneurs. As per the new action plan, the government will allocate Rs.10,000 fund for startups, give them tax waiver for three years, 80% rebate in patent fee and several other benefits. Hailing the initiatives taken ...
Govt working to make start, exit easy for startups
Source: PTI The government is working to make it easy for budding entrepreneurs to start a business or exit from it, giving boost to the Indian startup ecosystem, Union Minister Nirmala Sitharaman said on Saturday. “I understand that starting a startup is as much important as somebody wants to exit from it. The government is working to make the exit also (easy),” Sitharaman said at the 'Startup India' conference in New Delhi. She said Finance Minister Arun Jaitley is working “hard” on the Bankruptcy Code. The Insolvency and Bankruptcy Code 2015, which seeks to provide an easy exit option for insolvent and sick companies, has been referred to a 30-member joint committee of the Members of Parliament for further scrutiny. ...
