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Share on As COVID-19 upended businesses worldwide in 2020, Indian startups were not spared. Investments shrank and many resorted to layoffs, furloughs and pay cuts to keep their businesses afloat. With just over a week to go for the Union Budget, the startup ecosystem expects Finance Minister Nirmala Sitharaman will take steps to reduce taxes and ease regulations to encourage foreign investments, while giving sunshine sectors such as edtech a further boost. ALSO READ GST rate cuts Some investors say the Budget should boost consumption that took a beating as restaurants, shopping malls and theatres, among other businesses, remained hit by COVID-19 restrictions for most of last year. ....
Opinions expressed by You re reading Entrepreneur India, an international franchise of Entrepreneur Media. Social e-commerce platform ShopG on Wednesday announced to have raised $1.5 million in a seed funding round led by Orios Venture Partners and RPSG Ventures. Angel investors such as Rajesh Yabaji, Raghunandan G, Prasanth Nair, and Alibaba also participated in the round. Started in Nov 2019, the company has built a social commerce platform powered by micro-entrepreneur community leaders that is changing the way the next 500 million customers beyond India s top cities shop for their daily household needs. The infusion of new funds will be used for expanding the community leader network in tier III and tier IV cities, scaling technology, building a supply of small regional brands, and creating a suite of direct-to-costumer (D2C) branded products. ....
Why India’s unicorn-studded start-up ecosystem is in dire need of a policy push January 15, 2021 It lags global peers in terms of infra and market depth Budget 2020 saw the government announce quite a few measures for start-ups, such as allowing those with a turnover of up to ₹100 crore to claim 100 per cent deduction on profit for three consecutive years out of 10 years since their incorporation. It also deferred tax payment on ESOPs by five years, or till the employees leave the company, or when they sell their shares (whichever is earliest). That apart, the government proposed to provide early life funding, including a seed fund to support ideation and development of early-stage start-ups. ....
Source: HDFC Securities report dated December 17, 2020 And to ride this internet growth of India, here are the sectors that Indian VCs are betting on in 2021. Advertisement Edtech will continue to shine 2020 was the year of edtech in India. With schools and colleges shut due to the COVID-19 pandemic, India’s educational technology startups stood at the forefront of online transition of schools. In 2020, edtech startups raised a total of $2.2 billion, and VCs believe that the money will continue flowing into the sector. Fintech is the next big bet As the internet penetrates India s hinterlands, the adoption of digital payments, financial tech instruments will increase across the country. And VCs believe that fintech cos will drive the growth. If 2020, the year of the pandemic, was all about edtech and health tech, 2021 will be the year of Fintech in India. Consumers and businesses alike have made substantial changes to the way they lead their lives and b ....
Outlook 2021: Direct-to-consumer brands set to proliferate across categories The pandemic accelerated adoption of ecommerce and led to massive growth of D2C brands, which are focusing on consumer feedback, R&D, and varied business models to launch international quality products. Here’s why D2C will continue to boom in 2021. 0 claps A year ago, a large Indian fund approached an Indian D2C cosmetics brand and offered it a $15 million cheque. Much to its bemusement, the brand declined the offer. The Indian VC firm later found out that the brand had a counter-offer of $50 million, from another global VC. However, the story doesn’t end there. The brand went on to decline the cheque of the foreign VC firm. ....