INDIA | Pixr8 News

25Jan By AnkitaNo Comments

INDIA

Apple Ready With Blueprint For Manufacturing Unit in India

Apple Inc today indicated to the government that it is ready with a blueprint to begin manufacturing iPhones in India, but wants fiscal concessions, including Customs duty waiver on import of components. Apple executives made a detailed presentation on its road map for setting up a manufacturing unit in India to an inter-ministerial group headed by Department of Industrial Policy and Promotion Secretary Ramesh Abhishek, sources privy to the development said. The presentation was made by senior executives of the company, including Global Vice-President (iPhone operations) Priya Balasubramanian. It cited the country's business friendly ecosystem for keenness to start local manufacturing. With sales tapering in the US and China, Apple is eyeing India the fastest growing smartphone marke...

7Jan By NitishNo Comments

INDIA

Indian Government Launch Exclusive Scheme For Women Entrepreneurs

The Indian Government would shortly launch an exclusive scheme for women entrepreneurs, a senior official in the Ministry of Micro, Small and Medium Enterprises (MSME) said today. "It will be an exclusive scheme for women entrepreneurs. We have not yet finalised the contours (of the scheme). Hopefully, we will launch it before the end of the financial year," B H Anil Kumar, a Joint Secretary in the Ministry, told reporters here. Earlier, he launched myloanassocham.com, a portal, industry body ASSOCHAM said, that provides MSMEs online access to funds at an affordable rate from a mix of banks and financial institutions. Kumar said the figures that the MSME sector contributes 8 percent to the country's GDP, 45 percent of the manufacturing output and 40 percent of the exports are b...

5Jan By PriyankaNo Comments

INDIA

Indian Software Company Launched Toll Free Helpline For GST Related Queries

Software development company KDK Softwares has launched a national toll-free helpline service for resolving GST-related queries. The toll-free helpline number (1800 103 9271) will be available in six languages like English, Hindi, Gujarati, Marathi, Kannada and Malayalam. The helpline service was inaugurated by Rajeev Swarup, Principal Secretary, Small Industries, government of Rajasthan. "As the GST will be rolled out soon, small industries will be looking for helping hands on transition from multiple taxes and filing of returns with separate departments (VAT) to one tax (GST). Unlike the existing return processes, GST requires to be filed every month by businessmen which will make it easier once the 'hands on' processes are set," Swarup said at the launch. "The helpline is a ...

31Dec By Press Trust of IndiaNo Comments

INDIA, News

Apple to Make iPhones in Bengaluru

Apple is all set to start manufacturing its iconic iPhones in India at Bengaluru, as part of efforts to cash in on the world's second largest smartphone market in a big way. Local manufacturing is expected to help Apple price its phones more competitively in India as it currently attracts 12.5 percent additional duty on imports. The phones would be manufactured by Wistron, a Taiwanese OEM maker for Apple, according to top government sources. "Wistron has plans for setting up iPhone manufacturing plant for domestic market in Peenya," top government sources familiar with the developments told Pixr8. Another senior government official said Bengaluru has the talent required for quality high technology products and that was the reason for selecting the city. The official added that Foxcon...

Rs 2000 Cr Cisco Scam: BSNL to Look Into Allegations of Irregularity in Tender

29Dec By Press Trust of IndiaNo Comments

INDIA

Rs 2000 Cr Cisco Scam: BSNL to Look Into Allegations of Irregularity in Tender

State-owned Bharat Sanchar Nigam Ltd (BSNL) today said it will look into allegations of irregularity in award of network equipment tender to US tech giant Cisco in 2014. Reports said BSNL tender norms for procuring IP-MPLS equipment for the Network for Spectrum (NFS) project were allegedly tweaked to so that the Rs 2,000 crore contract went to US giant. "Prima facie there is no substance to the allegations, but since the reports have come we will look into the matter once again. In the past also, these things have come up before I joined, and a proper reply on the subject has been given," BSNL CMD Anupam Shrivastava told. Cisco, in an emailed statement, said the company does not comment on customer relationships or internal processes. "Cisco strives to maintain high standards of et...

Soon You Dial ‘14444’ To Raise Your Queries on Digitial Payments

28Dec By AdityaNo Comments

INDIA

Soon You Dial ‘14444’ To Raise Your Queries on Digitial Payments

Nasscom, telecom operators, and NITI Aayog have come together in creating a dedicated helpline 14444 for addressing all queries on digitial payments, as government takes strides to push for more digital transactions post demonetisation. After the fourth meeting of the Committee of Chief Ministers on digital payments, Convenor and Andhra Pradesh Chief Minister Chandrababu Naidu said, plans are afoot to import one million PoS machines to enable cashless payments across India. Briefing the media on the discussions, Naidu also said the Committee of Chief Ministers will present its interim report on digital payments movement to Prime Minister Narendra Modi within a week. "We are planning a sustainable, long-term, policy to attract majority in India to move to digital payments through prov...

Internet Connectivity Still Out of Reach For 950 million Indians

27Dec By Press Trust of IndiaNo Comments

INDIA, News

Internet Connectivity Still Out of Reach For 950 million Indians

India may have the world's second largest internet user base, but connectivity remains out of reach for nearly 950 million citizens, a report said today. "Even with the internet data plans in India being among the cheapest in the world and the average retail price of smartphones steadily declining, connectivity is still out of the reach of nearly 950 million Indians," according to the Assocham-Deloitte joint study India currently has about 350 million internet users, second only to China. Internet penetration is increasing in India and the access to affordable broadband, smart devices and monthly data packages are required to spread digital literacy to make their ends meet, the study titled 'Strategic national measures to combat cybercrime' said. Existing government infrastructure as...

26Dec By AdityaNo Comments

INDIA

Prime Minister Unveiled 2 Lucky Draw Schemes To Promote Cashless India Vision

With an eye on cashless economy, Prime Minister Narendra Modi today unveiled two schemes "Lucky Grahak Yojana and Digi Dhan Vyapaar Yojana" for customers and traders alike to promote mobile banking and e-payments. Making his last monthly address this year in his Mann ki Baat programme, he said there is "an atmosphere of curiosity" in the country as to what is cashless, how cashless business can take place and how one can make purchases without using cash. "To encourage this trend, strengthen mobile banking and inculcate the habit of making e-payments, the government is launching from today encouragement schemes for consumers as well as traders. To encourage customers, the scheme is Lucky Grahak Yojana and to encourage traders, the scheme is Digi Dhan Vyapaar Yojana," he said. Modi...

BHU Students Launch Drive to Make Campus Go Cashless

24Dec By Press Trust of IndiaNo Comments

INDIA

BHU Students Launch Drive to Make Campus Go Cashless

Banaras Hindu University students have launched a new campaign to encourage people to adopt digital payment methods inside the campus, with the varsity administration installing PoS machines at its hospitals here. The Mera Mobile Mera Batua drive by the students was launched yesterday, a day after Prime Minister Narendra Modi urged people here to shift toward electronic payment methods. BHU administration has initiated actions to install Point of Sale (PoS) machines at its 15 registration counters to receive money from patients. It has installed the machines at its medicine shops within the Sir Sunder Lal Hospital and Trauma Centre campus. Nearly 35 such machines have been provided by State Bank of India to the administration. Out of them, 20 have been installed at the hospital...

Demonetisation: Finance Ministry Proposed Limited Charges Over Digital transaction

21Dec By NitishNo Comments

INDIA

Demonetisation: Finance Ministry Proposed Limited Charges Over Digital transaction

In order to encourage digital transactions, the Finance Ministry today asked PSU banks to restrict fees on payments through IMPS and UPI to the extent that is applicable for NEFT fund transfer of over Rs 1,000. As per RBI norms, NEFT transfers of up to Rs 10,000 attract Rs 2.5 fee. From Rs 10,000-1 lakh the fee is Rs 5; on Rs 1-2 lakh it is Rs 15, and beyond Rs 2 lakh it is Rs 25. Service tax is charged in addition to this. For Unstructured Supplementary Service Data (USSD) transactions above Rs 1,000, the ministry said a further discount of 50 paise on these rates shall apply. USSD is mobile short code message and used mainly for banking services on feature phone. The USSD fee is Rs 1.50, which has been waived till December 30, 2016. In order to further promote digital and card payme...

Save 46 percent Tax Using Digital Transaction- Indian Govt to Small Traders

21Dec By NitishNo Comments

INDIA, News

Save 46 percent Tax Using Digital Transaction- Indian Govt to Small Traders

Government today said small traders will be able to save up to 46 per cent in tax by migrating from cash to digital transactions as the decision to tweak the presumptive income norms would reduce tax liability. "Apart from making a tax saving of almost 46 per cent by migrating to banking mode, the small businesses would be able to build their books which may also help them get bank loans easily," the Finance Ministry said in a statement. Also, if transactions are carried out through banking channels, then anybody having annual turnover up to Rs 66 lakhs will have zero tax liability after availing the benefit of Section 80C, after amendment of this new rate structure, it said. Earlier in the day, Finance Minister Arun Jaitley said "The object is if you do transactions using digital m...

“4 Din Mai Bano Karobari (Businessman)” – PM Modi’s New Business Mantra

20Dec By PriyankaNo Comments

INDIA, News

“4 Din Mai Bano Karobari (Businessman)” – PM Modi’s New Business Mantra

Aiming to break into top 50 best countries to do business in, the government has identified areas requiring doing away with complex rules and simplifying procedures to enable businesses to start in four days flat. With India ranked poorly at 130th among 190 nations on the World Bank's Ease of Doing index, Finance Minister Arun Jaitley yesterday held a meeting to identify areas to improve the business climate and the country's ranking by cutting down on steps required to start a venture and make easy credit available. An eBiz portal will provide one-stop shop for dealing with matters related to the Ministry of Corporate Affairs as well as registrations of PAN/TAN and employee provident fund/employee insurance. "The Ministry of Corporate Affairs, CBDT, the Ministry of Labour and Employment ...