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Angel Tax – Two words and a big pain to Indian Entrepreneurs. However, it is time for startups to breathe at ease as angel tax is about to be a thing of past. As per media reports, the income tax department has notified about 120 startups that they are exempted of angel tax. Business daily Livemint reported that about 150 firms had applied for tax relief of which 120 have received the tag of ‘startup’. The intimation was sent to…


The age-old phrase “Consumer is king” stands true especially today as we cater to consumers who are well read, well-travelled and are extremely aware of the food they are consuming and the brands they are interacting with. Being mindful about their health and fitness, they are consciously making efforts to choose a healthy lifestyle without giving in to the hectic schedules.   Unlike our earlier generations, the current generatio…


Did you know that 90per cent of all marketers say social media marketing has increased their business exposure? Or that 66per cent of marketers that spend at least 6 hours on social per week has seen more leads? With the advent of social media, traditional marketing methods no longer seem enough to sustain a business. Social connectivity has become the key to marketing and building the brand’s image for the buyers. Analytics and other measu…


The Enforcement Directorate (ED) has attached a Gurgaon property of Kashmiri businessman Zahoor Ahmad Shah Watali who is in Tihar jail on charges of funding terror. The move is part of a multi-agency crackdown on people and organisations suspected of funding terrorists activities in the country, especially Kashmir. Top officials told ET that the National Investigative Agency (NIA) has identified 13 persons and the properties they have acquir…


The government on Friday said it exceeded its disinvestment target for the current fiscal year by ₹5,000 crore, with proceeds touching ₹85,000 crore. "As against a target of ₹80,000 crore for disinvestment for the current year, the divestment receipts have touched ₹85,000 crores today," finance minister Arun Jaitley tweeted. The government has mopped up ₹9,500 crore from the fifth tranche of CPSE ETF and …


More and more restaurants are coming up every day, from food trucks to café to fine dining to themed restaurants; the options are just innumerable. Running your own business and flexibility at work being one’s own boss sounds great, but the truth is that starting a restaurant from scratch is not at all easy. Choosing a busy location for your restaurant cannot guarantee success. There are a lot of other factors that need to be conside…


The Karnataka transport department has issued a notice to ride hailing company Ola cabs (ANI Technologies Pvt Ltd) directing the latter to return its licence as well as cease all its operations with immediate effect for operating two-wheeler taxis in violation of existing provisions of the act. The licence has been suspended for a period of six months. “There is a violation of rules as bike taxis are not part of the licence issued to them (…


The Indian Army will receive its first batch of indigenously built Dhanush artillery guns, often referred to as the ‘Desi Bofors’, next week, government officials said on Friday. Five guns from the total order for 114 are likely to be handed over by the Ordnance Factory Board (OFB) to the army’s Central Ordnance Depot in Jabalpur on March 26. By the end of this year, the army will induct a Dhanush regiment, consisting of 18…


Jet Airways has suspended 12 international flights even as it grapples with a reduced fleet strength, industry insiders said on Friday. Sources said the airline has suspended operations to Hong Kong, Abu Dhabi, Riyadh, Dammam, Singapore, Manchester and Dhaka, among others, till April 30. However, one service has been cancelled due to Pakistan airspace closure and not due to fleet truncation. "Apart from suspensions, the airline has also redu…


The government is set to tighten accountability rules for social media apps such as WhatsApp, with upcoming intermediary guidelines likely to propose penalties and jail terms for executives, especially on traceability and user consent before being added to groups, said people with knowledge of the matter. “The intermediary guidelines should be out soon after elections and we expect all social media apps to comply with them,” a go…


Data is the master of every organization, without which every business is handicapped and will come to a standstill. Data is everywhere and its value has universally become equivalent to that of oil. Every big and small step towards storing and securing data can create a safe zone for data. However, manhandling data that often leads to its loss is currently the most expensive damage business can suffer from. Data losses occur due to reasons like …


Even as domestic airlines struggle to cope with the grounding of Boeing aircraft, IndiGo, India’s largest carrier, is preparing to take delivery of 25 A321neo aircraft as part of plans to fly to more overseas destinations, including China. IndiGo will take delivery of the aircraft over the next 12 months and will refit 15 of them with 220 seat-configurations. These 15 aircraft will be used to fly on long distance routes to destinations in E…


2019-03-22

Zydus Cadila has received the final approval from the USFDA to market Lurasidone Hydrochloride Tablets USP (US RLD – Latuda Tablets), in the strengths of 20 mg, 40 mg, 60 mg, 80 mg and 120 mg. It will be manufactured at the group’s manufacturing facility at SEZ, Ahmedabad.   The medication is used to treat certain mental/mood disorders such as schizophrenia, depression associated with bipolar disorder. It may also help …


2019-03-22

Tata Power Strategic Engineering Division (Tata Power SED) today announced the signing of an important deal with the Ministry of Defence, Government of India, to supply 23 ship-borne 3D Air Surveillance Radars to the Indian Navy over the next 10 years.  The contract, estimated value is about INR 1200 crore, was signed under the Buy & Make (India) category of the Defence Procurement Procedure (DPP) 2013 that will be offering the Indi…


My first job as a product engineer required me to conduct consumer product evaluations to help retailers and manufacturers analyze the performance of their products. Having understood consumer grievances inside out, I decided to bring quality razors to the Indian market and started LetsShave in 2015. The essence of the brand is best described using three words – quality, comfort and flexibility. LetsShave promotes the idea of affordable qua…


Anil Dhirubhai Ambani was listed by Forbes in 2008 as the world's sixth-wealthiest person. Eleven years later, the 59-year-old is fighting to save his reputation and a possible jail sentence. An appellate tribunal on Friday refused to direct State Bank of India and other lenders to Reliance Communications to release Rs 260 cr of tax refunds, held in a trust fund, a sum needed to pay the firm's dues to Ericsson. The order passed by Natio…


 most noticeable evolution is – ‘the Smart Homes of New Age’. Automation, which is termed as a method, technique, or arrangement of operating or controlling a procedure by electronic gadgets and reducing human interference to a minimum, has risen as a new industry vertical in the last two decades. Gone are the days when someone has to check the house twice before leaving so that no lights, fans, or appliances are left switc…


The arrest of billionaire jeweller Nirav Modi in the $2 billion PNB fraud case represents a milestone in India’s efforts to deal with those attempting to dupe its banking system, say experts. The ₹14,000-crore fraud, which also involved some bank staff, threatened to bring India’s second largest state-run lender to its knees. Punjab National Bank (PNB) had reported a net loss of over ₹12,200 cror…


Deap Ubhi is a restless guy. At 26, he quit his job in private equity in Northern California, where he had grown up and gone to college, and then moved to India to found Burrp!, a local search site similar to Yelp. He sold the company in 2009 and along with other alums became what they called the Burrp! mafia, seeding and growing other startups in India. “Fast and is extremely straightforward,” one Indian entrepreneur wrote about…


The real estate sector, which has been struggling with weak demand and stagnant prices for years, has received another blow with the liquidity crisis at non-banking financial companies (NBFCs), one of their last funding sources. Many NBFCs have lost significant market value on growing concerns around asset-liability mismatches and tightening liquidity in the short-term money market, after a series of defaults by Infrastructure Leasing and Financi…


As first-time entrepreneurs entering the exciting-yet-demanding world of new ventures, Sankarsh, Rakesh, and Mridu are divergent in their ages, experience, stages of their ideas, industry focus, and financial capabilities. The thread that connects them all is their need for supportive mentors who can help them navigate the ups and downs of their startup journey. Startup mentoring is a challenging and time-consuming job. However, seeing new founde…


IndiGoNSE 7.34 % is hiring more than 100 Boeing 737 commander level pilots, primarily those exiting Jet AirwaysNSE -4.67 %, as the country’s biggest airline looks to overcome a flying-crew shortage and establish its dominance amid an exodus of personnel from the financially-stressed airline. A top industry source aware of IndiGo’s hiring plans said that it would take six months to train the Boeing pilots so that they could fly A3…


Narayana Murthy, co-founder, Infosys, goes back — and forward — in time to describe the challenges that entrepreneurs of his generation faced compared to those today.Widely credited with being one of the pioneers of India’s information technology sector and building one of the largest companies in the space, entrepreneur is perhaps a small word to describe Narayana Murthy. But it’s a tag he wears with pride. “I …


India's Reliance Industries, operator of the world's biggest refining complex, has turned to selling fuels to Venezuela from India and Europe to circumvent sanctions that bar US-based companies from dealing with state-run PDVSA, according to trading sources and Refinitiv Eikon data. Reliance had been supplying alkylate, diluent naphtha, and other fuel to Venezuela through its US-based subsidiary before Washington in late January imposed sanctions…


In what will give relief to 90 startups from taxman’s questioning their valuation during fund raising rounds and slapping angel tax, the Central Board of Direct Taxes (CBDT) has given them a written assurance and registered them for Startup India Action Plan, according to two people with direct knowledge of the matter. Under the Startup India Action Plan, a Department of Industrial Policy and Promotion (DIPP) initiative, the startups w…


There is no second opinion that the Micro, Small and Medium Enterprises (MSME) sector is the backbone for developing nations across the globe. In a burgeoning economy like India, this dynamic sector drives the spirit of entrepreneurship and generates employment opportunities. MSMEs in India are currently striving to strengthen their presence across sectors while expanding their footprint globally. The progress of the MSME sector is closely entwin…


Fugitive diamantaire Nirav Modi, arrested by Scotland Yard on behalf of the Indian authorities, will be held at a prison in south-west London considered one of England's most overcrowded jails. The 48-year-old, who appeared in the dock at Westminster Magistrates' Court in London on Wednesday in a sombre white shirt and trousers, was taken to Her Majesty's Prison (HMP) Wandsworth after he was remanded in custody until March 29 by District Jud…


The harried pilots of Jet Airways, which is on the brink of shuttering operations, have now approached SpiceJet seeking employment. Jet Airways pilots had earlier been wooed by IndiGoNSE 7.34 % with compensation for their pending salaries & other benefits, leading to murmurs of protests from its own pilots. The largest airline has been facing acute shortage of cockpit crew, leading to cancellation of hundreds of its flights last month.&n…


State Bank of India (SBI), the largest lender to cash-strapped Jet Airways (India) Ltd, has asked the airline’s chairman Naresh Goyal, his wife and two other nominee directors to step down immediately, even as the bank said it was in the interest of lenders to revive the distressed carrier. SBI has asked Goyal, his wife Anita, and two nominee directors, Nasim Zaidi and Gaurang Shetty, to step down from the board as well as ex…


The growing entrepreneurial ecosystem in India has had a cascading, domino-like effect on other sectors — perhaps none more than the flexible work-spaces sector (more commonly referred to as co-working spaces). A report by realty consulting firm Jones Lang LaSalle (JLL) highlighted that occupancy costs for premium office buildings have continued to rise in major global markets over the last year and affordability has become a major source o…


The Indian Consulate General in Ho Chi Minh City organised a seminar on March 20 to introduce the culture, tourism, cuisine and beautiful nature of India.The event, which drew representatives from the municipal Tourism Department, nearly 50 Vietnamese travel companies, and those from India, was also a chance to strengthen cooperation and promote tourism services between the two countries.......


Nirav Modi, the fugitive jeweller wanted in the 14,000-crore Punjab National Bank scam, has been arrested in London on India's extradition request. British Police said Modi, 48, had been arrested in the Holborn area of central London on Tuesday and was due to appear at London's Westminster Magistrates Court on Wednesday. Modi was living on half a floor of the Centre Point Tower Block, in an apartment whose rent is likely to be around Rs 16 l…


Flipkart has deployed as many as 100 robots to help sort packages at one of its delivery hubs in the outskirts of Bengaluru, the first such instance of the ecommerce giant deploying robotics to streamline its supply chain. The robots, dubbed automated guided vehicles (AGVs), pick products from a conveyor belt, scan them and then drop them down a chute that’s assigned to a particular pin code. The robots work in a tight grid, using coll…


With diversified conglomerate Larsen and Toubro (L&T) signing a deal with Cafe Coffee Day founder V.G. Siddhartha to buy 20.4 per cent stake in leading services firm Mindtree at Rs 981 per share for about Rs 3,300 crore, in a bid to acquire the firm. Mindtree on Tuesday came out with a scathing condemnation saying: "The attempted hostile takeover bid of Mindtree by L&T is a grave threat to the unique organisation we have collectively…


MindtreeNSE -1.99 % founding promoter Subroto Bagchi said he and three other promoters — Krishnakumar Natarajan, Rostow Ravanan, and Parthasarathy NS — were offered “huge bags of money” to give away Mindtree but they turned it down and urged employees to remain focused on work. Bagchi, who quit as the chairman of Odisha Skill Development Authority last week to return to Mindtree, said in a letter to the employees on T…


The Tata as a  brand continues to remain India’s most valuable brand as per the latest findings by Brand Finance, UK. Tata’s brand value is estimated at $14.2 billion.  This is more than the values of No.2 (Airtel valued $6.7 billion) and No.3 (Infosys valued at $6 billion) combined! By contrast, Tata was never designed to be a ruthless value-creation engine.  In fact, of every 3 rupees earned by Tata Sons (the holding …


Marketing, it’s a concept that has different approaches, different visions from each individual marketing strategist that leads to eventually the same goal of reaching out to the audience. Every marketing tool should be able to engage with the customer on a personal level and help in creating a desire for the product and its association........


The Global Innovation and Technology Alliance (GITA) under India’s Department of Science & Technology, and the Israel Innovation Authority (IIA), under the Government of Israel, granted HealthNet Global, a part of the Indian Apollo Hospitals Group and Isreali Zebra Medical Vision, funding to validate, co-develop, and deploy medical imaging AI across India and to increase Tuberculosis (TB) screening capabilities in th…


A UK court has issued an arrest warrant against fugitive diamond jeweller Nirav Modi, taking cognisance of the sanction granted by the UK home secretary on India’s request to extradite the jeweller. According to procedure, Modi will be formally arrested and is likely to be enlarged on bail. The London Police is likely to arrest him this week and produce him before a London Court, said sources privy to the development. The issuance…


On Thursday (March 13th), Facebook experienced an outage on its main platform, and on Instagram and WhatsApp. During that time, users had issues posting, commenting, and accessing content. For entrepreneurswho use social media for their business, this should be a blaring wake up call. Scrolling through your feed today, you’re likely to notice entrepreneurs talking about the outage and how they were affected. Just like in times pas…


Billionaire Azim Premji’s two charities have been made partners in three companies that hold his 56% stake in Wipro Ltd, allowing the trusts to receive monetary gains from the shares even as Premji can retain the voting rights, a person aware of the development said. The two charitable trusts—Azim Premji Philanthropic Initiatives Pvt. Ltd (APPI) and Azim Premji Trust (APT)—have, however, stayed away from voting on any …


Making a dramatic intervention, Mukesh Ambani saved his younger brother Anil from imprisonment by paying money owed by him to Ericsson on Monday. The bailout from the world’s 13th richest man, as per Forbes ranking, came literally at the eleventh hour — Tuesday was the deadline for Anil’s Reliance Communications to clear Rs 580 crore due to the Swedish equipment maker. In a late evening statement, Anil Ambani thanked his br…


Once bitten, twice not so shy, Larsen & Toubro is making an aggressive attempt to acquire IT services company MindtreeNSE 1.59 %, almost a decade after it had lost the race to acquire scam-struck Satyam Computers. This acquisition could give L&T the scale that it has long desired. But acquiring the desired holding in the company may not be easy. “I think it fits into the larger plan,” chairman of L&T Group, AM Naik to…


Sabine Keller-Busse, chief operating officer of UBS Group AG, and Harald Egger, India country head at UBS, comment on how India has become the most important market for the Swiss bank for its global back office operations. They also speak about the opportunities the bank sees for its investment banking franchise, which has been operating for more than 25 years in India, where the talent base is unmatched, according to Keller-Busse. Edited excerpt…


With less than 10% of the Indian population being digitally literate, the Indian government has been pushing for digital skilling and IT education through a number of initiatives under the Ministry of Electronics and Information Technology (MeitY). Although India is the fastest growing mobile market, it is behind when it comes to Internet connectivity. Connecting India’s communities to the world through the Internet is becoming in…


2019-03-18

Gulftainer, a privately owned independent port operator, welcomed the M.V. Port Klang from Sunmarine Shipping Services on a maiden call at its gateway flagship Sharjah Container Terminal, SCT. The vessel is one of the shipping group’s fastest services between the Indian subcontinent and the UAE. The M.V. Port Klang offers the fastest direct express service between Sharjah’s Port Khalid and the Kandla, Hazira and Nhava Sheva ports in I…


2012: The menace of mindless disposal of plastic waste and its effects on the environment led Vidya Amarnath to devise a more ethical way of mitigating plastic waste. During the research phase, she worked with IIT Madras and Central Institute of Plastics Engineering & Technology. 2013: Ultimately, she chanced upon a Thermochemical Depolymerisation Technology (TDT), which was being used for shredded tyres. The process was then perfec…


After peer-to-peer (P2P) and bill payments, Google Pay is looking to win over customers of smaller offline retailers or kirana stores. While Google had announced plans to partner with point-of-sale providers to onboard retail merchants, it is now piloting transactions based on the Unified Payments Interface (UPI) to be made by consumers while making offline purchases, according to two people aware of the matter. “It will bring the conv…