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Delhi 22nd in Top 25 Global Cities For Women Entrepreneurs

24Jun By Press Trust of IndiaNo Comments

News

Delhi 22nd in Top 25 Global Cities For Women Entrepreneurs

Delhi, at the 22nd spot, is the only Indian city to feature in tech giant Dells 2016 Women Entrepreneur Cities Index (WE Cities) that looks at a city's ability to attract and foster growth of women-owned firms. New York, the San Francisco Bay Area, London, Stockholm and Singapore were the top five cities for high-potential women entrepreneurs, Dell said in a statement. "WE Cities is the only global gender-specific index that looks at a city's ability to attract and foster growth in firms founded by women entrepreneurs," it added. Cities, instead of countries, were identified in order to show the impact of local policies and programs in addition to national laws and customs, it said. The report takes into account characteristics like capital, technology, talent, culture and mark...

JSW Ventures Gets Sebi Nod For Startup Investments

23Jun By NitishNo Comments

News

JSW Ventures Gets Sebi Nod For Startup Investments

JSW Ventures, the venture capital arm of the JSW Group, today said it has received clearance from markets regulator Sebi to begin investing in the country. JSW Ventures would focus on providing early-stage funding to technology-enabled startups operating in the education, healthcare, financial services, SaaS (software as a service) and enterprise software space. The fund will have an initial corpus of Rs 100 crore which it will invest over a three-year period. "JSW Ventures, the venture capital arm of the JSW Group, has received the mandatory clearances from Securities and Exchange Board of India (Sebi), paving the way for it to begin investing," a statement by JSW said. "Technology innovation is happening across sectors, from old-fashioned verticals like real estate to research-driv...

FDI Relaxation in E-commerce Will Help Grocery Startups

22Jun By PriyankaNo Comments

News

FDI Relaxation in E-commerce Will Help Grocery Startups

The relaxation of FDI norms in e-commerce will help grocery startups access funds more easily, domestic ratings agency Icra said today. "The move to open up the domestically manufactured food products sector to FDI will enable farmers to directly sell their produce to retailers, thereby reducing margins for middlemen," it said in a report. "Further, potential investments by the investors in cold-storage and warehousing will ease supply-side pressures and arrest wastages, that have been driving inflation," it added. In the present scenario, lack of investment in logistics and inadequate storage facilities have been creating inefficiencies in the food supply chain, leading to significant wastages. Relaxation of local sourcing riders for single brand retail, which has been...

Nanu Started Offering Free Calling Service in India, Operators Object

22Jun By PriyankaNo Comments

News

Nanu Started Offering Free Calling Service in India, Operators Object

A new mobile app, Nanu, has started offering free calling service, including on mobile numbers and landline connections -- a facility on which private telecom operators have raised objection before sector regulator Trai and government. "If you read the Indian Telegraph Act, you can interpret that every form of data transmission over the internet, which is a form of communication, is legal because it is not regulated by telecom licences. If you read in that context, its a grey area," Nanu Chief Martin Nygate said. The Nanu support gives free limited credits every day for making free call anywhere in the world on its application and even to those who have not installed its application. The call can be made on mobile number and even on landline. The Telecom Regulatory Aut...

Apple Will Have to Re-submit Its Application For Opening Retail Stores in India

22Jun By Press Trust of IndiaNo Comments

News

Apple Will Have to Re-submit Its Application For Opening Retail Stores in India

US technology giant Apple Inc will have to re-submit its application for opening single brand retail trade stores in the country and issues concerning "cutting edge" technology will be settled by the concerned administrative ministry, an official said. In light of the changes in the FDI policy announced yesterday, the official said, Apple will have to submit fresh application for opening single brand retail stores to seek exemption from local sourcing norms. Under the modified single brand FDI policy, companies using cutting edge technology will be exempted from meeting the local sourcing norm for first three years. Thereafter, in the next five years the company will have to meet the domestic sourcing norm at an annualised average rate of 30 per cent. "After a proposal comes to th...

India Opens The Door For Apple Stores in New FDI Rules

20Jun By AnkitaNo Comments

News

India Opens The Door For Apple Stores in New FDI Rules

Apple Inc could open its first stores in India and might eventually start manufacturing in the country under new foreign investment rules for retailers outlined on Monday. The new rules exempt foreign retailers for three years from a requirement to source 30 percent of the goods sold in company-owned stores locally. That would allow Apple, which currently sells its iPhones, iMacs and iPads through resellers, to set up its own shops in India, ending months of uncertainty for the California-based company that had first applied for store licenses in January. India is the world's fastest growing large smartphone market with sales expected to rise over 25 percent this year. For Apple, which has less than a two percent share in the smartphone market in the country, gaining a bigger footp...

How Flipkart New CEO Binny Bansal Trying To Bring Back Its Old Team in Fight Against Amazon

20Jun By NitishNo Comments

News

How Flipkart New CEO Binny Bansal Trying To Bring Back Its Old Team in Fight Against Amazon

The Proverb of Old is Gold seems true in the case of India's largest e-commerce company Flipkart. Under new CEO Binny Bansal, Flipkart re-appointed Mr. Kalyan Krishnamurthy as head of categories. Before explaining anything about Flipkart re-joining strategy kindly read our previous report to get more clarification. Kalyan Krishnamurthy an executive at Flipkart’s largest investor Tiger Global Management was first appointed as a interim chief financial officer (CFO) & Category Head of Flipkart in February 2014. He left the company and joined Tiger Global again in November 2014. In 2015, Flipkart replaced its entire senior management and hired professionals from Google, Amazon etc. In 2016, due to shortage of funding and poor performance Flipkart's three senior executives lost...

What Industrialists Said After Raghuram Rajans Decision Over 2nd Term

18Jun By AnkitaNo Comments

INDIA, News

What Industrialists Said After Raghuram Rajans Decision Over 2nd Term

Top industry leaders today said RBI Governor Raghuram Rajans decision not to take a second term will be "nation's loss" as he brought economic stability and enhanced Indias credibility on the world stage. India Inc led by Anand Mahindra, Deepak Parekh, NR Narayana Murthy, Kiran Mazumdar-Shaw, Mohandas Pai hoped that Rajan's successor will continue with the good work he did although industry chambers CII and FICCI declined to comment. Reacting to the development, Mahindra & Mahindra Chairman Anand Mahindra said he was "saddened" to hear about Rajan's decision to opt for academia at the end of his current term. "In my travels around the world and encounters with leading overseas businessmen, it became clear that during his tenure he greatly enhanced the credibility and bankabilit...

Doubts Surrounding Over Investors Backing Both Uber and Didi in China

17Jun By AnkitaNo Comments

News

Doubts Surrounding Over Investors Backing Both Uber and Didi in China

Ride-hailing companies Uber and Didi have brought many new dimensions to the startup industry, such as making billion-dollar-plus funding rounds routine. Now, they have added another to the list: sharing big investors who are backing both companies, even though they are fierce rivals. Uber, the leading ride service in the United States and much of the world, and Didi Chuxing, which claims 87 percent of the Chinese market for private vehicle ride-hailing, now share at least four investors: asset manager BlackRock, Chinese investment manager Hillhouse Capital Group, hedge fund Tiger Global and insurer China Life, according to investment records and sources familiar with the deals. "It's very unusual to allow the same parties to invest and get information rights of sworn mortal enemies. ...

14Jun By AdityaNo Comments

INDIA

Indian Telecom Operators Mobile Data Revenue May Hit Rs 95.5K cr in 5yrs

Indian telecom operators are expected to rake in Rs 95,500 crore in revenues from mobile data services over the next five years, says a report by ICRA. Mobile data revenues are expected to grow at a compounded annual growth rate (CAGR) of 21 per cent by financial year 2021 and are expected to contribute 34 per cent to the total mobile service earnings, the ratings agency said. At present, mobile data accounts for about 20 percent of the telecom operators revenues, the report said. "Over the last five years, data revenues for the ICRA Sample of telcos traced a strong CAGR of 54 per cent from Rs 3,200 crore in FY 2011-12 to Rs 27,450 crore in FY 2015-16," ICRA AVP Corporate Sector ratings Harsh Jagnani said. Nevertheless, when compared to international levels, the data revenues as pr...

14Jun By Press Trust of IndiaNo Comments

INDIA

Indian Govt. Banned 240 Websites Offering Escort Services

Government has banned 240 websites offering escort services on the recommendation of an expert committee under the Ministry of Home Affairs. "The order to block 240 escorts websites was issued to internet service providers on Monday on recommendations made by an expert committee under the Ministry of Home Affairs," an IT Ministry official said. He said that as per the process, complaints or representations are made by aggrieved persons or party before the expert committee, which then takes a call on it. However, industry sources criticised the move, calling it directionless. "Content of all the websites cannot be blocked. The order has been issued without going into technical nitty gritty around it. If a website changes the name or link slightly, it will again start working," said an e...

Digital India Can Be a Major Driver of The India’s Growth – Arogyaswami Paulraj

13Jun By AnkitaNo Comments

Entrepreneurs Talk

Digital India Can Be a Major Driver of The India’s Growth – Arogyaswami Paulraj

Indian American inventor Arogyaswami Paulraj, known for his contribution to faster wireless connectivity popularly known as MIMO, the core technology used in all modern wireless networks, said digital India can be a major driver of the country's growth story if executed in the right manner. He also said that Make in India is "a good slogan" but "it is a long way from a good slogan to execution". "Digitisation of the country at every level will help and particularly with Adhaar, we can do a lot more. We really need to improve broadband access in India, which will be part of digital India campaign and the way to do it is through wireless and the way to wireless is largely through wi-fi as the access is cheaper," Arogyaswami Paulraj said. MIMO is a core technology used in all modern ...