Indian Prime Minister Narendra Modi reveals the details of his much talked-about project, Startup India. Some key highlights are revised IP registration policies, faster exit and entry, income tax exemptions, and benefits for a woman entrepreneur. Modi hopes with this plan in action, India will soon become the hub for global startups.
Tags: India
India elbowed out Thailand to take the position of world’s largest rice exporter
India is now the world's largest exporter of rice, with 10.23 million tons of rice exported in 2015. The country outranked the former leader, Thailand whose export numbers have fallen to 9.8 million tons this year, which also recorded the lowest rice prices in the last ten years. It seems the falling prices are also tied to the global oil crisis that has hit the rice importers, thereby affecting their purchasing power.
Global Innovation: China, India, and Thailand Are Among Countries With Lesser Support for Innovation
The Information Technology and Innovation Foundation (ITIF) concluded the study based on 27 factors that bring both positive and negative impact towards global innovation. The study involved 56 countries, whereas China stood at the 44th rank, Thailand the 53rd, followed by India. ITIF also noted that supporting global innovation is crucial for countries' economic growth.
Former Tata Group Chairman Ratan Tata is Investing in an Indian Premium Tea Online Retailer, Teabox
The businessman is considered as one of India’s most active investor. Ever since he retired as the Tata Group chairman, Ratan Tata has backed more than 20 startups until now. He is especially experienced in the tea markets, and Teabox is delighted to have him as an advisor as well as an investor.
Toyota Motor contemplates a complete buyout of Daihatsu
Toyota Motor is seriously contemplating a buyout of Daihatsu Motor Co., which would give the company direct access to Daihatsu’s 660 cc mini vehicles. This investment would fetch Toyota great returns in the emerging markets and also enable leveraging of the low-cost production model that has long been Daihatsu’s competitive advantage.
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Indian Prime Minister Narendra Modi recently revealed his ambitious project, Startup India. The Rs10,000-crore plan is meant to encourage a thriving startup culture by reducing government regulations and hurdles from the way. This government aid should prevent the young entrepreneurs from fleeing to another country with better bureaucratic policies.
India remains stand out despite the slowing down China's economy, which has caused large impacts to the global economy. India is predicted to be the fastest-growing country in the world this year. Some impacts should be faced by the Indian export markets. However, India keeps focusing on the actions that can improve the economy growth.
Intense fog in Delhi, India, caused great disruptions in train schedules. Nearly 60 trains were cancelled while around 10 were delayed due to poor visibility. The air pollution problems in Delhi is quite acute and the government should should work towards a resolution.
Ethiopia's Agricultural Ministry has terminated its agreement with Indian company's Karuturi Global Ltd. last month on the grounds that the company has not made enough progress as agreed upon. Karuturi has claimed that the government has prevented it from making any further progress and will take legal action to fight the cancellation.
Bank of America Merrill Lynch Wealth Management analysts expects India to be the next e-commerce battleground in 2016 as big tech companies like Facebook, Google, and Amazon are set to conquer the country this year.
The top online search engine already had the initial discussions with the three Indian startups. Baidu seeks to expand to India due to growing online population and internet user.
The world stockpiles of cotton are piling up giving less scope for investors on price rise. Cotton prices witnessed first weekly drop since November.
Uber Technologies Inc. said it had been given approval from Jakarta governor to operate as a fully legal entity in the Indonesian capital, assuming it meets local tax rules and other requirements laid out by the government.
Now the mobile e-commerce is a booming e-commerce business in India. India could have 657 million Internet users by 2019, up from 277 million to date. The growth of mobile e-commerce increased at a fast pace.
