Indian retail pharmacy sales have been expected to cross $11.5 billion in 2015. Many startups have appeared in the market of online medicine and CareOnGo takes a leading position among them in online pharmacy market. It has raised $300,000 for its seed fund round which will be used for its expansion in different major cities of India.
India
Asian stocks rebound ahead of G20 FinMin meeting
Asian stocks rebounded on Monday ahead of G20 Finance Ministers meeting, which is scheduled on this weekend. Investors are positively looking to reassurances about global economy growth.
India's Ajay Piramal sees value in VC investing
Indian businessman Ajay Piramal has entered into venture capital (VC) space by establishing a new VC funding entity 'Montane Ventures.' The new VC fund focuses on early-stage funding requirements. Piramal has infused $50 million into Montane Ventures will mobiles $150 million additionally from external resources.
Unemployment, The Main Factor of High Drug Abuse in Punjab
Punjab drug consume is one of the higest in India. The main reason of this is unemployment and frustrated economic expectations. Another factor that plays an important role is the easy access to drugs.
Mobile Startup Jana Gets $57 Million From Verizon Ventures for Expansion
Mobile startup Jana has a new influx of cash and an old industry hand as a new adviser. It recently nabbed a $57 million funding from Verizon Ventures for expansion in developing countries.
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One of India’s biggest drug maker, Cipla, has received the government’s approval allowing the company to carry out an investment agreement formed last year with Mauritius-based FIL Capital Investments. Cipla is one of the 10 companies which had their clearance while the government also rejected 5 other foreign investment proposals.
The micro venture capital (VC) funding space in India is witnessing a robust activity. A rising new breed of venture capital investors is keen on early-stage investment in startups. About 12 micro venture capital funds are operational in India.
Indian Rupee further fell in a narrow range and was nearing its record low. On the other hand, stocks on the Indian bourses staged a recovery. The S&P BSE Sensex was up 0.8 percent paring intraday loss of 1.2 percent. Overseas investors continued to offload in the Indian stock markets.
India is a populous country hence, a lot of consumers for business-minded people. D-Mart is one of those businesses that cater to customers' wants and needs at affordable price. This strategy is what Wal-Mart and other giant companies should follow in order to better revenue and sales growth.
Hedge funds in Asia witnessed losses the most in January 2016. The financial markets sell-off in the month made hedge funds suffer losses over 10 percent. Asia-focused hedge funds recorded losses of 3.1 percent indicating the worst beginning since 2008.
Ratan Tata has invested in a new tech start-up business, Snapbizz. This is Tata's eighth e-commerce business this year after DogSpot.in, Tracxn, CashKaro, FirstCry, Teabox, Moglix and Invictus Technology.
India's exports fell 13.6 percent from January a year ago and it has been dropping for 14 consecutive months, while imports contracted 11.01 percent. However, the Reserve Bank of India will not devalue its currency unlike China and Japan.
There are similarities between the India's startup world with China's startup. It can be seen from the kinds of startups that are developing right now, and also the fund size raised from the investors.
The recent market crash in Indian stock markets is driving funds from equities to mutual funds (MFs). As a result, fixed income mutual funds are witnessing increased inflows of funds amid ongoing bear market.
