India | Pixr8 News

4Jul By AnkitaNo Comments

ANALYSIS

The Advantages of the GST

The launch of GST has left most businesses in a tight spot. Here are 10 advantages of GST that will uplift your impressions about the biggest tax reform of India since its Independence. Price Reductions It is advantageous for companies as people will purchase more regularly due to price reductions. One Time Transaction Transaction will only occur a single time at Revenue Neutral Rate (RNR).This has been settled by both the Central and State Goods and Services Tax departments, (CGST and SGST). Employment and Exports The Central and State governments will be benefitted by GST as it is set to increase industrial activities, exports and employment opportunities. Unified Tax GST makes the revenue process less complicated. It will b...

30Jun By AnkitaNo Comments

ANALYSIS

6 Differentiators to Help Your Startup Win the Race

Thousands of startups open and shut every year, forced by a fiercely competitive environment. Below are 6 differentiators that will help you stay above the crowd and prove yourself a winner:- Tell a Captivating Story People love stories and to draw them to yours, you must ensure that they understand where you are coming from. You have to illustrate your pitch in such a manner that people can instantly relate and put themselves in your shoes. It needs to have logic, emotion and recall value. Using the power of storytelling through various channels like emails and social media, you can enhance a brand’s image, significantly. Acknowledge What Makes You Different You are probably not the first one to create your product or service and even if you ar...

Nirmala Sitharaman Asks MPs to Consider Setting up Co-working Space or Incubators in Their Constituency

29Jun By Press Trust of IndiaNo Comments

INDIA

Nirmala Sitharaman Asks MPs to Consider Setting up Co-working Space or Incubators in Their Constituency

Commerce and Industry Minister Nirmala Sitharaman has urged the Members of Parliament (MPs) to consider setting up co-working spaces or incubators for startups in their constituency. In a letter to the MPs, the minister has asked utilising the Members of Parliament Local Area Development Scheme (MPLADS) funds for such initiatives. "This step will promote the startup ecosystem in the country and help startups in their constituency make rapid strides towards establishing themselves and also create jobs," a commerce ministry statement said quoting Sitharaman. The 'Startup India' envisions building a strong ecosystem for nurturing innovation in the country and empowering the budding entrepreneurs to grow through innovation and design. She said the government has been making all-out...

SHAREit Becomes Model Case of a Company’s Rise in India

27Jun By AnkitaNo Comments

News

SHAREit Becomes Model Case of a Company’s Rise in India

Investors and entrepreneurs are always looking for opportunities in a booming market regardless of what stage of development that market is in. From China more than a decade ago to India nowadays, industry leaders have always kept an eye on the Asian market, while India has replaced China as the market with the most potential and become a new driver of global economic growth. Entrepreneurs from across the world are competing in India's internet market. As a result, companies that deliver quality products to India's immense number of consumers are building and consolidating a leading position in the global market. SHAREit is one such case. From gaining 1 billion users worldwide within five years, to appearing on Google Play's homepage over 700 times and claiming the number one spot on...

27Jun By AnkitaNo Comments

ANALYSIS

Impact of GST on Startup and Businesses

Goods & Services Tax (GST) is a consolidated, consumption based tax which will be levied on the supply of goods and services at a national level. It will combine major taxes like excise duty, CST, octroi, service tax, and VAT (value added tax) etc. into a single tax called GST, which will come into effect starting July 1st, 2017. Here are some of the ways startups and other common businesses will be impacted by GST- Small traders with an annual turnover of up to Rs. 20 lakh won’t be required to register the new GST Act, and with the north-east States, the exemption threshold is Rs.10 lakh. This would save many small scale traders and service providers from undertaking GST agreements and reduce a substantial weight off the shoulders of tax authorities. The GST in...

How Walmart Will Be Benefited From GST in India

26Jun By Press Trust of IndiaNo Comments

News

How Walmart Will Be Benefited From GST in India

Walmart will be benefited by the Goods and Services Tax (GST) which will be a win-win situation for all, the American retail giants top official in India said here today as the landmark tax reform measure is all set to be rolled out on July 1. "For instance, in the medium to long term when it becomes one national unified market, you dont need warehouse in every single state. Thats a big benefit in terms of economies of scale, how one can drive economies of scale," Krish Iyer, president and CEO of Walmart India, told PTI in an interview. "Eventually, if we are able to run the business at lower cost, we will pass it onto the consumers, and the prices of the central commodities can come down, so its a win-win for everyone, for the consumer, for the state, as well as for the business," said ...

RBS to Cut Over 400 Jobs in UK, Move Many of Them to India

26Jun By AdityaNo Comments

News

RBS to Cut Over 400 Jobs in UK, Move Many of Them to India

British lender Royal Bank of Scotland said today that it is cutting 443 UK jobs dealing with business loans, and plans to shift many of the roles to India. The UKs largest government-owned bank said it was moving the jobs, which help handle loans for small businesses, as part of an ongoing cost-cutting drive. "As we become a simpler, smaller bank, we are making some changes to the way we serve our customers. Unfortunately, these changes will result in the net reduction of 443 roles in the UK," a spokesperson for the bank said. The bank said it would support staff affected by the "disappointing news", including by moving them into new roles where possible. Workers union Unite said British workers and taxpayers would lose out from the move. "By shipping these jobs to India, RB...

TATA Group is Looking To Acquire Air India

22Jun By PriyankaNo Comments

BUSINESS

TATA Group is Looking To Acquire Air India

Tata group is believed to be discussing buying a stake in debt-laden Air India amid the government looking at various options, including full or partial privatisation, to revive the national carrier, sources said. When contacted, a Tata group spokesperson said, "We dont comment on speculations." Tata's already have two airline joint ventures Vistara and AirAsia India. Staying afloat on taxpayers money, Air India has been in the red for long and various proposals, including government think-tank Niti Aayog suggestion for complete privatisation, have been made. Sources said Tata group is evaluating options on buying stake in Air India. In this regard, there have been internal meetings as well as meetings with government representatives, sources added. There was no official word f...

Super 30 Will Start Online Coaching For Students: Anand Kumar

18Jun By PriyankaNo Comments

Entrepreneurs Talk

Super 30 Will Start Online Coaching For Students: Anand Kumar

Super 30 founder Anand Kumar today said he has plans to expand the programme to provide online coaching to meritorious students from across the country soon. "I have plan to launch Super-100 to enroll 100 meritorious class X pass out students from across the country to provide them coaching online," Kumar told Pixr8 today. The online application for the proposed coaching were being invited and select candidates would be selected based on merits, he said. While priority for the selection of candidates would be underprivileged, the focus would be to select candidates from Bihar, Uttar Pradesh and Jharkhand, he said expressing hope the online coaching facility would be launched in the later part of this year. Kumar said he also has plan to open a branch of the Super 30 coaching centre in or...

Flipkart-eBay India Deal Gets Indian Government Nod

16Jun By Ankita SinghNo Comments

BUSINESS

Flipkart-eBay India Deal Gets Indian Government Nod

E-commerce major Flipkarts proposed acquisition of eBay India has received approval from the Competition Commission. Besides, the fair trade regulator has given nod to eBay Singapores subscription of compulsorily convertible preference shares (CCPS) issued by Flipkart. In a tweet, the Competition Commission of India (CCI) said that it has approved "subscription by eBay Singapore of CCPS issued by Flipkart and acquisition of eBay India by Flipkart". As per the notice submitted to the regulator, the transaction relates to the acquisition of 100 per cent share capital of eBay India by Bangalore based e-commerce firm Flipkart. The transaction also involves the acquisition of certain compulsorily convertible preference shares of Flipkart by eBay Singapore, as per the notice. Earl...

16Jun By AdityaNo Comments

INDIA

Indian Government Will Launch Policies To Become USD 1 Trillion Digital Economy

The government will come out with three new policies, including electronics manufacturing and data protection, as part of its efforts to make India a USD 1 trillion digital economy in a few years. Speaking after a two-and-a-half hour meeting with Indian tech industry captains, IT Minister Ravi Shankar Prasad today exuded confidence that India is well-positioned to become a USD 1 trillion digital economy in next few years. "The industry has assured us that they are committed to support us in this mission... We will be shortly laying down the new electronics policy because between the old policy and now, India under Narendra Modi has changed completely," Prasad said. He added that the government will also come up with a new software product policy and a framework for data security a...

15Jun By AdityaNo Comments

INDIA

India to Have 1.4 Billion Mobile Subscribers by 2022

The overall mobile subscriber base in the country is likely to grow to 1.4 billion by 2022 and nearly one-third of them will be 4G users, says a report by Ericsson Mobility. India led the mobile subscribers growth globally with highest net addition of over 43 million customers in January- March 2017, it said. China followed India with net addition of over 24 million mobile subscribers during the three-month period. Indias total mobile subscriber base is expected to grow to over 1.4 billion in the next five years of which 520 million will be 4G subscribers, the report said. The 5G service is expected to be operational in India by 2022 with subscriber base of around 3 million, it added. "Based on trend of deployment of LTE by telecom operators in India, we feel 3G will be domina...