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INDIA

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Govt to announce friendly tax regime for start-ups in Budget: Arun Jaitely
INDIA

Govt to announce friendly tax regime for start-ups in Budget: Arun Jaitely

“ Government in the Budget next month will announce a friendly tax regime that will encourage setting up of startups in the country ” Government in the Budget next month will announce a friendly tax regime that will encourage setting up of startups in the country, Finance Minister Arun Jaitley said today. "We have already worked upon an entrepreneur-friendly taxation regime. There are some steps, which can be taken up by notifications, which would be taken forthwith. Others require legislative provisions, which can only come as part of the Finance Bill when Budget is presented in order to create a friendly taxation regime for startups," he said at the Start Up India conference here. Recognising the need to encourage startups, a fund was suggested in the Budget last year, he...
Government working to make start, exit easy for startups, says Nirmala Sitharaman
INDIA

Government working to make start, exit easy for startups, says Nirmala Sitharaman

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 at Startup India Event. "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. On the eve of #StartupIndia launch, here's a message from @CimGOI Smt. @nsitharaman . @standup_startup pic.twitter.com/FjplrmrqgI— CIM India@GOI (@CimGOI) January 15, 2016 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 compa...
SBI Opens Dedicated Branch For Startups “SBI InCube”
INDIA

SBI Opens Dedicated Branch For Startups “SBI InCube”

State Bank of India became the first public sector lender to launch wealth management service, a space dominated by private and foreign players, to cater to fast-growing affluent segment of the country. The bank also inaugurated a dedicated branch for startups which will provide advisory services to the budding entrepreneurs. “Introducing wealth management has been one of the bank’s top strategic priorities, as we have a number of HNI customers in the bank and potentially many more whose banking needs are more sophisticated and who require a highly specialised service delivery mechanism,” SBI chairman Arundhati Bhattacharya said. The wealth management offering ‘SBI Exclusif’ and the startup branch – ‘SBI InCube’ were rolled out in Bengaluru. ‘SBI Exclusif’ will offer many fir...
Himachal Will Become First Indian State To Run Zero Emission Buses
INDIA

Himachal Will Become First Indian State To Run Zero Emission Buses

SHIMLA- Himachal Pradesh will soon be the first state in India to introduce inter-state zero-emission electric buses. The Central government sanctioned Rs 35 crore for the project and the process of tender has started. We will receive funds to introduce environment friendly electric bus service. Charging stations will be set up at bus stands soon,said Transport Minister GS Bali. The Government of India is to pay 75% of the funds for the project with the state to cover 25%. However, the state government wants the Centre to pay 90% and will take it up with the Union government. We believe that the funds should be sanctioned to us in 90:10 ratio. I will meet Union transport minister to discuss the issue. The buses, each costing Rs 1.75 crore, will be imported. These ...
Will take structured view on net neutrality: Ravi Shankar Prasad
INDIA

Will take structured view on net neutrality: Ravi Shankar Prasad

Asserting the government's stand on non-discriminatory access to internet, Telecom Minister Ravi Shankar Prasad on Sunday said the issue of net neutrality is being debated by Trai and its report is awaited, following which a final view will be taken. "The issue of net neutrality is being debated by the Trai (Telecom Regulatory Authority of India) and we have to await the Trai report. Thereafter, the government will take its structured view," Prasad told reporters here. Amid a raging debate on providing equal internet access to all, the government had last year set up an expert panel to look into the issues of net neutrality. Net neutrality implies that equal treatment be accorded to all internet traffic and no priority be given to an entity or company based on payment to content o...
DIPP secretary Amitabh Kant to take over as Niti Aayog CEO
INDIA

DIPP secretary Amitabh Kant to take over as Niti Aayog CEO

Amitabh Kant, secretary in the Department of Industrial Policy and Promotion, was on Thursday appointed as the chief executive officer of Niti Aayog. He will take over the new job after his retirement, next month-end. The competent authority has approved the appointment of Kant, a 1980 batch IAS officer of Kerala cadre, as CEO of Niti Aayog, after his superannuation in February-end, an order issued by Department of Personnel and Training said. “The terms and conditions of his appointment as CEO, Niti Aayog will be conveyed in due course,” it said. 59-year-old Kant has been appointed in place of former IAS officer Sindhushree Khullar, who was appointed as the first CEO of the National Institution for Transforming India (Niti) Aayog, a body that has replaced Planning Commission, ...
Uber Announces Start-up Mentorship Programme ‘UberEXCHANGE’
INDIA, News

Uber Announces Start-up Mentorship Programme ‘UberEXCHANGE’

Taxi-hailing app Uber on Monday announced a new start-up mentorship programme in the country in partnership with Invest India called 'uberEXCHANGE'. Over the next years, Uber will host a series of six leadership talks by senior Uber executives, including from their headquarters in San Francisco, the company said in a statement. The programme will address issues that entrepreneurs face, like fund-raising, product design, engineering and how to scale up a business. At the end of the programme, the top 10 start-ups will travel to San Francisco, where they will be introduced to global investors, fellow entrepreneurs and the team at Uber, it said. This public-private initiative will enable students, entrepreneurs and industry leaders to learn from each other, helping to create a culture t...
Travis Kalanick (Uber, Founder) Will Attend Modi’s Startup India Event
INDIA, News

Travis Kalanick (Uber, Founder) Will Attend Modi’s Startup India Event

New Delhi: Investment firm SoftBank’s founder Masayoshi Son, taxi-hailing service Uber’s founder Travis Kalanick and collaborative workspace provider WeWork’s founder Adam Neumann will attend the government’s Start-up India event next week, where Prime Minister Narendra Modi will unveil an action plan to assist early-stage companies. The event will be attended by around 40 innovators, venture capitalists and angel investors from Silicon Valley along with 1,500 founders of start-ups from across the country. On 27 December, in his Mann Ki Baat radio programme, Modi said the government was going to announce details of the Start-up India event, to be held on 16 January. Considering the importance of the event to the promotion of start-up culture in the country, it will be ...
Digital India – Har ki Pauri and Ajmer Sharif Will connect with Free Wi-Fi Soon
INDIA

Digital India – Har ki Pauri and Ajmer Sharif Will connect with Free Wi-Fi Soon

Har ki Pauri and Ajmer Sharif, religious places of India are set to be the part of Digital India campaign. Very Soon the tourists and residents will be able to access free wi-fi services at those religious places, Thanks to BSNL. The state run operator will offer free Wi-Fi for first 30 minutes for consumers and then it will be charged at Rs 30 per hour there on. BSNL in association with Trimax (Trimax IT Infrastructure and Services), an IT services provider has put the required infrastructure at Har Ki Pauri and Ajmer Sharif to offer free Wi-Fi service. Trimax is installing nine Wi-Fi access device at each location so that subscribers can get quality coverage.   Har ki Pauri Har Ki Pauri is a famous ghat on the banks of the Ganges in Haridwar. It is believed that it is a preci...
Indian Minister Nitin Gadkari to Automakers: Develop Tech For Engines
INDIA

Indian Minister Nitin Gadkari to Automakers: Develop Tech For Engines

New Delhi- (PTI) Calling upon automakers to develop homegrown technologies to build environment-friendly car engines under the Make in India drive, Union Minister Nitin Gadkari today said encouraging such endeavours will help them save on huge royalty costs. "Even today despite more than 90 per cent indigenisation some of our car manufactures have been paying royalties for technology of over Rs 4,000 crore every year. They will not be required to do so if they develop indigenous technologies," Road Transport and Highways Minister Gadkari told PTI. The automakers should encourage indigenous technologies under Make in India drive, the minister said while stressing that nation is battling with the problem of pollution and this could be their contribution to check it. Citing example o...
India may have 50 crore Internet subscribers next year: Prasad
INDIA

India may have 50 crore Internet subscribers next year: Prasad

New Delhi, (PTI) - Telecom Minister of India Mr. Ravi Shankar Prasad today said Internet subscribers may reach the 50 crore mark in the country next year. "India currently has 40 crore Internet subscribers. Earlier, I have said about the target to reach 50 crore users in two years but now it looks that the 50 crore mark is likely to be achieved next year," Prasad said during a discussion on "Integration of SC/ST entrepreneurs: Digital and Skill India" here. Speaking about the Digital India programme, he said the government will connect 2.5 lakh gram panchayats with optic fibre in coming years. He also spoke on the concept of digital village, where one block in every state will be selected to ensure that technology can be used to deliver education and healthcare services. Under digi...
Indian Government Funding 5G Network Research
INDIA, News

Indian Government Funding 5G Network Research

The government is funding a research project on 5G technology being undertaken by Country's premier academic institutions with an outlay of Rs. 36.51 crores, Indian Parliament was informed today. "The Department of Electronics and IT is funding a collaborative research project on 5G being undertaken by premier academic institutions across the country", Communications and IT Minister of India Mr. Ravi Shankar Prasad said in a written reply to Lok Sabha.Communications and IT Minister of India Mr. Ravi Shankar Prasad said in a written reply to Lok Sabha. He further said the project was approved in September 2015 with an outlay of Rs 36.51 crore over a period of three years to be jointly implemented by IISc-Bangalore, IIT-Bombay, IIT-Hyderabad, IIT-Madras and Centre of Excellence in wireless...