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Chinese electronics company Xiaomi is planning to go ahead with the manufacturing of televisions in India. Instead of importing them from the other country, the company has decided to partner with Foxconn which is Taiwanese contract manufacturer. This idea has basically been formulated to intimidate online sales in the upcoming festive season during Diwali. “Xiaomi’s talks are in advanced stages with Foxconn for manufacturing televisions in India, which will start from July-August so that in the festive season-Diwali sales it has mostly made-in-India models,” quoted an industry executive acquainted with the idea. The manufacturing of televisions in India will give tax benefits to the company, but, it has been reported the prices of the television may not come down and that is because...

The government has extended tax benefits to 67 startups so far with a view to promoting budding entrepreneurs in the country, Minister of State for Commerce & Industry C R Chaudhary said today. In January 2016, Prime Minister Narendra Modi had unveiled a slew of incentives to boost start-up ecosystem, offering them a tax holiday and inspector raj-free regime for three years, capital gains tax exemption and Rs 10,000 crore corpus to fund them. "3,576 startups have been recognised as on September 7 and tax benefits have been given to 67 innovative startups," Chaudhary said here while addressing the startup India states conference. The Department of Industrial Policy and Promotion (DIPP), under the ministry, considered 671 startups for income tax exemption and of this 67 received the...

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Xiaomi to Start its Television Production in India for Diwali

67 Indian Startups Receive Tax Benefits From the Government