FDI equity inflows fall 7% to $33.5 bn in first nine months of FY19

FDI equity inflows fall 7% to $33.5 bn in first nine months of FY19

New Delhi, Feb 20: In some bad news for the Modi government, Foreign Direct Investment (FDI) equity inflows to India from April to December 2018 have declined by seven per cent. Latest figures released by the Department for Promotion of Industry and Internal Trade (DPIIT) shows that India managed to attract almost $33.5 billion from […]

Indian tech companies up global market share, IBM hit mostly

Bengaluru, Feb 20: Leading Indian IT firms’ share of revenue has increased as a proportion of the total revenue of the top tech services companies in the world. IT advisory firm Everest Group helped TOI look at 10 of the biggest global companies. Among the Indian heritage companies, Cognizant grew its share the most in […]

E-tail policy hasn’t shaken confidence, says Walmart

E-tail policy hasn’t shaken confidence, says Walmart

Bengaluru, Feb 20: Walmart CEO Doug McMillon has said the changes in India’s FDI policy for the e-commerce sector have been “disappointing”, but they haven’t shaken Walmart’s “confidence and excitement” about Flipkart, where it acquired a 77% stake for $16 billion in August last year. “We feel good about the ability to transition with minimum […]

Angel tax exemption a good effort, but more needs to be done: Industry

Angel tax exemption a good effort, but more needs to be done: Industry

New Delhi, Feb 20: The government’s move to relax norms for start-ups will “unshackle angel investing” and unleash the next wave of entrepreneurship, helping India bolster its position as a leading start-up nation, said industry experts. This, they believe, would help bootstrapped firms in not only securing funds, but help further expansion. Angel investors believe […]

RBI board okays Rs 28000 cr as interim dividend to govt

RBI board okays Rs 28000 cr as interim dividend to govt

New Delhi, Feb 19: The central board of the Reserve Bank of India (RBI) on Monday approved the transfer of Rs 28,000 crore as interim dividend to the government, a much-needed transfer against the backdrop of a tight fiscal situation. “The board reviewed the current economic situation, global and domestic challenges and other specific areas […]

Flipkart co-founder Sachin Bansal invests Rs 650 crore in Ola

Flipkart co-founder Sachin Bansal invests Rs 650 crore in Ola

New Delhi, Feb 19: Flipkart co-founder Sachin Bansal has invested about Rs 650 crore in Ola, giving the Indian ride-hailing company more ammunition to compete with rival Uber. The investment is in Sachin’s personal capacity and is also the largest financing by an individual in Ola till date, Ola said in a statement. In January, […]

Small biz lender Ziploan raises Rs 90 crore from SAIF, Matrix

Small biz lender Ziploan raises Rs 90 crore from SAIF, Matrix

Bengaluru, Feb 19: Ziploan, an online lending platform focused on small businesses, has raised Rs 90 crore in a funding round led by SAIF Partners as venture capital continues to flow into fintech startups. Existing investors like Matrix Partners, Waterbridge Ventures among others have also participated in this round, which will take the online lender’s […]